Payments

DENVER – Payments processing giant First Data Corp. plans to support the Federal Reserve’s proposed new debit interchange rules with a two-tiered pricing structure for debit-interchange rates on its Star PIN-debit network, the second major processor, including Visa, to support a two-tiered system.

PURCHASE, N.Y. – MasterCard yesterday reported a 41.5% surge in fourth quarter earnings, fueled mainly by continued fast growth in its debit cards business.

Most consumers in the United Kingdom have not changed their payment habits, but some say they will rely less on credit cards even if the economy improves, suggest recent survey data from New York-based Auriemma Consulting Group.

Continuing its expansion into newer payments-related territory, Visa Inc. intends to focus on increasing its presence in mobile payments, online commerce and funds transfers, Joseph W. Saunders told analysts during a conference call to discuss fiscal first-quarter earnings.

Visa Europe and Monitise PLC have formed a partnership to develop mobile-payment services for Visa’s member financial institutions within Europe, the companies announced Feb. 3.

Payments processor ProPay Inc. is testing a mobile application that enables consumers to pay brick-and-mortar merchants using their smartphones instead of handing over a card.

SAN FRANCISCO – In a big boon for credit unions, Visa reported yesterday that a 15% rise in transactions, led by growth in debit, fueled a 16% increase in earnings for its fiscal first quarter.

In the mobile banking business, a one-size-fits-all approach just doesn't cut it, as Firethorn Holdings LLC found out.

The mobile banking technology provider mFoundry Inc. has added a standalone mobile remote deposit system, the vendor announced Feb. 1

The ability to initiate payments with mobile phones has captured the imagination of many groups, including consumers, merchants, payment card brands and wireless carriers.

Credit card lending is likely to remain sluggish in the near term, according to one analyst, but a continued decline in card chargeoffs indicates "the bleeding has stopped" from loans that went into default during the recession.

WEST CHESTER, Ohio – Kemba CU has renewed its membership in the STAR network, naming STAR its preferred provider of PIN-secured debit point-of-sale and ATM access, and adding debit processing from STAR’s parent First Data.

MIRAMAR, Fla. – Tropical Financial CU said yesterday it has contracted with PSCU Financial Services for full service credit processing services.

Despite the hype surrounding mobile applications for redeeming loyalty program points, consumers still would prefer one consolidated loyalty card they can attach to their keychain, according to a recent survey by ACI Worldwide Inc.

A government-appointed committee in India is proposing new mobile-banking guidelines to bring financial services to unbanked and underbanked individuals.

BATH, Maine – Five County CU is issuing about 3,000 new credit and debit cards after electronic security breaches involving an unnamed retailer and a processing center.

That Apple Inc. is targeting mobile payments is a foregone conclusion, but that doesn't mean banks must take a defensive approach.

Various terminal makers have come out with their own devices and services designed to support payment card acceptance using mobile phones. But one independent sales organization has decided to do so on its own, and at least one observer says the company could succeed with the proper marketing.

Verizon Wireless is working with two mobile payment companies to allow its customers to charge digital content purchases to phone bills.

Barclaycard and wireless-network operator Everything Everywhere Ltd. this summer plan to launch the United Kingdom’s first contactless mobile-payment system, the companies announced Jan. 27.