Payments

Regions Financial Corp. has updated its mobile banking capabilities to enable customers to transfer funds among internal accounts, pay bills and receive text alerts about balances and other details.

WASHINGTON – U.S. Public Interest Group, the leading consumer lobby in Congress, called on the Fed to maintain course and reduce fees on debit transactions while opening the cards market to greater competition.

Hoping to appeal to small merchants looking for a means to process payment card transactions through mobile devices, Impact PaySystem LLC has begun offering a card-swipe device from iPhoneSwiper, initially for free, the companies announced March 5.

WASHINGTON – Big Box retailers Target, Wal-Mart, SuperValu and Costco are urging the Federal Reserve to proceed with its bid to curb debit fees, insisting they will pass on billions of dollars in reduced charges to consumers.

CashEdge Inc. has landed Huntington National Bank as a customer for its person-to-person payments software, the New York-based vendor announced March 7.

WASHINGTON – Hundreds of neighborhood business are calling on the Federal Reserve to proceed with the debit interchange provisions of the Dodd-Frank Act in hopes of passing on the savings back to their communities.

American Express Co. cardholders that attend the South by Southwest Interactive music festival in Austin, Texas, later this week will be able to secure merchant discounts with their cards through Foursquare Labs Inc., the location-based mobile system that rewards consumers for using its service. Media reports say the two companies are piloting the system with 60 merchants at the festival and are offering a “spend $5, save $5” promotion.

WASHINGTON – Credit unions and banks are urging the Federal Reserve to exclude ATMs transactions from the new rules setting price caps on debit fees.

MUMBAI, INDIA–A company that enables India’s banking customers to conduct instant interbank mobile funds transfers is planning to extend the service to enable them to also pay for purchases at merchant locations, the firm’s chief executive told PaymentsSource here March 3 at a technology summit organized by the Indian Banks’ Association.

AT&T Inc. has added WorldPay US Inc. as a processor for the mobile-merchant payment initiative the telecommunication company launched last year, according to an entry posted March 1 on WorldPay’s blog.

MISSOULA, Mont. – Montana Educators’ CU contracted with Fifth Third Processing Solutions for electronic funds transfer services, including ATM and debit card processing services, card production, fraud protection, debit marketing, rewards programs, and gateway services.

Western Union Co. has introduced a mobile Web version of its foreign-exchange payment service that enables small and midsize businesses with international ties to conduct transactions using smartphones, the company announced March 2.

Company Notes

BROOKFIELD, Wis. – The acquisitive Fiserv, fresh off two deals earlier this week, on Wednesday said it has acquired Maverick Network Solutions, a Delaware-based provider of advanced prepaid, reward and incentive card programs.

WASHINGTON – Several key lawmakers expressed support yesterday for a joint credit union and bank effort to delay the proposed rule capping fees on debit transactions, but none has committed to introducing a bill yet.

Dwolla, a low-cost mobile-payments provider, has launched of what it is calling the first location-based payment technology, which will enable users to check in at various retailers and use their mobile phones to pay for purchases, the company. announced March 2.

The number of U.S. credit card accounts rose slightly during last year’s fourth quarter, to 380 million accounts from 378 million the previous quarter, reversing a trend of declining accounts that had gone on since the second quarter of 2008, according to the New York Federal Reserve.

PURCHASE, N.Y. – A top MasterCard official on Tuesday said the cards network is withholding any commitment to create a two-tiered system to apportion debit fees between big banks and small banks and credit unions, and expressed doubt whether a two-tiered system will be workable.

CLEARWATER, Fla. – A $2.10 purchase with a Visa card at a local Bi-Lo convenience store paid off in a big way for a member of SRP FCU – the grand prize winner of Visa’s Super Bowl Trip for Life, including round-trip airfare, accommodations and tickets to the Super Bowl for the rest of her life.

Fiserv Inc. announced three acquisitions this week, including its long-time partner for mobile banking.