Payments

Why so many ISOs, acquirers, and point-of-sale software and hardware makers are excited about putting advanced mobile POS equipment into merchants’ hands is not difficult to grasp. Such systems may generate additional revenue not only from existing clients, but also possibly from merchants who previously could not or would not accept payment cards.

U.S. consumers’ average credit scores stabilized in recent months, as credit card debt fell by 7% through the first 10 months of the year, according to data Credit Karma released Wednesday.

More than half of the nation’s largest financial institutions offer mobile-banking services, which continue to evolve from being an extension of online banking to supporting person-to-person funds transfers and other payment capabilities, according to a new report from First Annapolis Consulting Inc.

Though the Consumer Financial Protection Bureau has jurisdiction over a wide range of financial products, Elizabeth Warren is making credit cards her top priority.

Bling Nation Ltd. said Tuesday that its mobile contactless payment system will be accepted by the regional grocery chain Brookshire Grocery Co.

Mobile banking provider MShift said yesterday it is partnering with RDM Corp. to provide remote deposit capture over Mshift’s mobile banking applications for the iPhone and Android platforms.

With mobile access now widely accepted as a consumer channel, more banks are turning their attention to businesses.

U.S. consumer borrowing rose in September by the largest amount in two years, thanks to a surge in non-revolving credit such as college loans and auto financing.

SAN FRANCISCO-Payment cards are becoming more versatile. Instead of charging purchases to a single account, cards that can access multiple sources of funding, or even do more than simply initiate transactions, are starting to catch on.

MECHANICSBURG, Penn.-To help members battle high healthcare costs, AmeriChoice FCU is handing out the RxCut Plus Card, which reduces prices for prescriptions, laboratory tests, and diagnostic medical imaging.

RANCHO CUCAMONGA, Calif.-All of the communication around Reg E may be drawing more attention to debit and boosting debit volume.

PORTLAND, Ore. -- Outstanding credit card balances among credit union members grew during the second quarter, according to analysis by AssetExchange.

MADISON, Wis. -- Debit cards continue to garner a higher share in consumer payment mix according to research from the Filene Institute.

BOSTON -- The prepaid debit and payroll card industry is emerging as a formidable force in U.S. consumer financial services, according to a report from Aite Group.

Oxigen Services Pvt. Ltd. has signed a service agreement with Luup International Ltd. to launch mobile-payment services in India, Luup International announced Oct. 29.

Apple Inc.'s iPhone payments system is coming closer to reality.

More than half a year after the centerpiece protections of a sweeping overhaul of credit card regulation took effect, portfolio yields appear to have stabilized at their highest levels in two decades.

U.S. credit card defaults fell in September to a two-and-a-half-year low, continuing a downward trend as the economy heals, according to Fitch Ratings.

Jack Henry & Associates Inc. and its competitors say there is high interest in offering new consumer technologies such as mobile remote deposit capture and mobile banking in general.

The outcome of today's Election Day results could have meaningful implications for the card industry, including affecting the odds of credit card interchange legislation emerging next year, analysts at New York-based equity firm Keefe, Bruyette & Woods said in a report released Monday.