Payments

Etisalat Group last week inked a strategic agreement to offer Western Union Co.’s Mobile Money Transfer service in the 18 countries where it the Dubai-based mobile operator operates.

In a move some observers say might represent the future of loyalty and mobile payments, loyalty marketer Maritz Real-Time and smart card technology firm Vivotech Inc. have formed a strategic partnership to provide immediate retail promotions to customer mobile phones equipped with Near Field Communication technology.

Consumers in the United Kingdom, the United States and Canada soon may use their smartphone as a contactless payment device and mobile wallet using an application from Yespay International Ltd.

WATAUGA, Texas – My CU has 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.

Though perhaps there is no greater rivalry than Thin Mints versus Samoas, two Girl Scout groups are taking sides in a different debate: which mobile card reader is best for cookie sales.

Square Inc.’s Feb. 22 announcement that it had dropped the 15-cent transaction fee for card-present transactions represents a return to a rate scheme the merchant-services company had last spring.

SAN DIEGO – USE CU has signed with Fifth Third Processing Solutions for electronic funds transfer services, including ATM and debit card processing, card production, fraud protection, debit marketing, rewards programs and gateway services.

CHAMBERSBURG, Penn. – Patriot FCU has signed with The Members Group to process its debit, PIN and ATM transactions.

TUCSON, Ariz. – Authorities discovered nine card skimming devices attached to local ATMs last week that caused thousands of dollars of fraud losses to area institutions, including $5,538 in fraudulent cash withdrawals on members of Hughes FCU.

TUKWILA, Wash.-BECU last week launched a debit card in conjunction with the University of Washington, marking the first credit union to have a partnership of this type with the university.

CHICAGO-Payment card issuers stand to gain tremendously by moving card production and fulfillment to a digital on-demand platform, according to new research.

FRANKLIN PARK, Ill.-The ceiling at Leyden Credit Union looks as if it might be ready for a high school dance, but instead of tin foil stars hanging on strings, there are credit cards.

ATLANTA-First Data Corp.'s decision to support Acculynk Inc.'s PaySecure Internet PIN-debit payment system could give debit payments a boost at a time when financial institutions have doubts about the future of debit cards.

WASHINGTON-Federal Reserve Chairman Ben Bernanke expressed doubt last week on the workability of exemptions for credit unions and small banks from the debit interchange price controls required under the Dodd-Frank Financial Reform Act.

TAMPA, Fla.-Credit unions are being urged to become more active in developing strategies to grow credit and debit rewards programs, despite what doomsayers are predicting.

RANCHO CUCAMONGA, Calif.-Credit unions should enjoy the short window of time remaining for debit transaction income to be unaffected by the Durbin amendment to the Dodd-Frank Financial Reform Act, because that window is closing.

ST. PETERSBURG, Fla.-If interchange income from debit cards is reduced, Tom Gandre foresees credit cards-and credit card rewards programs-taking on increasing importance.

DES MOINES, Iowa-Credit and debit rewards programs are not going to disappear because they remain effective tools and serve as differentiators.

WILMINGTON, N.C.-Credit unions and banks will find debit and credit rewards are more important in the wake of the Durbin Amendment rules and not less, according to Bob Giltner.

RALEIGH, N.C. – North Carolina State Employees’ CU is the latest credit union to add EMV microchip technology to its debit card portfolio, making it one of the first financial institutions in the country to add the microchips for increased transaction security over traditional magnetic stripe cards.