Payments

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.

Mobile banking in rural India received a huge push this month with the country’s two biggest banks signing agreements with the two largest mobile-network operators in India for the launch of mobile platforms designed to bring banking services to more consumers.

DES MOINES, Iowa – TMG Financial Services (TMGFS) said it experienced credit card portfolio growth last year, both organically and through portfolio purchases.

A fresh round of Apple Inc. rumors indicates the technology giant will include Near Field Communication in the next versions of its iPhone and iPad. And while the technology continues to stay atop the leaderboard as the payments industry’s ideal mobile-payments method, at least one observer believes barcode technology ultimately will prevail.

MasterCard Worldwide and Spanish telecommunication company Telefonica SA are starting a joint venture to develop mobile payments services in 12 Latin American countries, the companies announced Jan. 25.

BROCKTON, Mass. – HarborOne CU said it has installed Datacard Group’s CardWizard software to instantly issue Visa debit cards on demand at the branch level.

Visa Europe and Wireless Dynamics Inc. are teaming up to offer a mobile contactless-payment service for Apple Inc. iPhone users in the United Kingdom, the card association announced Jan. 25.

Citing increased consumer spending, American Express Co. is reporting fourth quarter net income of $1.1 billion, up 53.6% from $716 million during the same period in 2009. Total revenue net of interest expense rose 12.3%, to $7.3 billion from $6.5 billion, the company announced Monday.

MasterCard Inc. confirmed that it is hiring Mung-Ki Woo as group executive for its mobile business.

MILWAUKIE, Ore. – Cutting Edge FCU has signed a comprehensive cards processing deal with Fifth Third Processing Solutions.

Safaricom Ltd., the largest mobile operator in Kenya, is working with U.S.-based payments provider PayPal Inc. on a platform to enable consumers to pay school fees directly to institutions’ bank accounts using their mobile phones, the companies announced earlier this month.

First Data Corp. will handle credit card processing for Kohl’s Corp.’s private-label credit cards in a multiyear agreement the two companies announced last week.

After a year in testing, RDM Corp.’s smartphone check-imaging application Simply Deposit Mobile is now available for all merchants, RDM announced Jan. 20.