Payments

INDIANAPOLIS – Afena FCU has launched what is believed to be the first student credit card program in Indiana.

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

More consumers are using mobile phones to pay bills, but specifically how they are doing so requires more study, according Fiserv Inc., which identified the gap in information earlier this year when it polled 2,000 households as part of the technology company’s 2010 Billing Household online survey (see story).

WASHINGTON-The chief lobbyist for MasterCard told credit union leaders they were victimized by misinformation in the recent passage of amendment that will insert the Federal Reserve as regulator of interchange on debit cards.

Qatar National Bank Ltd. has launched the first mobile-to-mobile funds-transfer service in Qatar, the Doha-based bank announced Sept. 22.

Bharti Airtel Ltd. has become the first mobile operator in India to receive a license from the Reserve Bank of India to offer mobile-payment services, the New Delhi-based company announced Sept. 22.

A Las Vegas man faces federal charges in connection with producing and using counterfeit credit and debit cards that allegedly were encoded with information skimmed from gas pumps.

A recent partnership between Western Union Co. and Toronto, Canada-based electronic-wallet provider EnStream LP will enable Canadian consumers to send funds both domestically and internationally using their mobile phones. The companies plan to launch a pilot in Canada in December.

PayMate India Pvt. Ltd. has signed an agreement with Bank of Ceylon to launch mobile payment and banking services in Sri Lanka, the Mumbai-based mobile-payments provider announced last week.

RIVERWOODS, Ill. – Discover Financial Services on Tuesday reported a 55% decline in third quarter earnings to $260.6 million, from last year’s $577.5 million, which included a $287 million gain from the company’s antitrust settlements with MasterCard and Visa.

CINCINNATI – Fifth Third Processing, fresh off last week’s acquisition of National Processing Company, on Tuesday said it has agreed to acquire selected assets of Springbok Services, including the company’s reloadable prepaid card processing platform.

CHICAGO – A federal judge allowed a member to sue Pentagon FCU for breach of contract and discrimination after it canceled his Visa account, allegedly because his income dropped following a railroad injury.

Bling Nation Ltd. soon will tap in to VeriFone Systems Inc.’s vast reseller network to extend point-of sale acceptance of Bling’s rewards-based contactless BlingTags, the companies announced Sept. 21. The deal also will help extend acceptance of PayPal, traditionally an online payment service, to brick-and-mortar retailers nationally.

WEST LAFAYETTE, Ind. – Purdue Employees FCU introduced a new way for Harrison High School and Jefferson High School students, parents and fans to show their school spirit: offering them student-designed debit card designs.

China's largest mobile-network operator China Mobile is suspending its project involving an RFID-SIM, a mobile-payment technology based on the 2.4GHz standard for contactless payment, local media in China reported last week.

Mobile-payments firm RegaloCard LLC is bringing its card-based funds-transfer service to an additional 4,000 U.S. retail locations through a distribution agreement with iPayStation LLC, the companies announced Sept. 20.

BIRMINGHAM, Ala.-A requirement of the CARD Act that went into effect Aug. 22 has yet to have a significant impact on CU revenue, but looks to reach more deeply into the pockets of banks, sources predict.

ATLANTA-A new survey of consumers has found that combined debit and credit card reward programs is increasingly valued.

First Data Corp.’s recently announced partnership with a South Korea-based technology company will help strengthen the transaction processor’s ability to support contactless payments in advance of Near Field Communication-enabled mobile payments, according to a First Data executive.

The Central Bank of Sri Lanka is soliciting public comment on guidelines it has drafted for mobile-payment systems, an official from the bank tells PaymentsSource.The bank’s director of payments and settlements is accepting comments through Oct. 18, according to the official. “Our aim is to ensure safety and effectiveness of mobile-payment schemes,” he says. Under the draft guidelines, the central bank will allow mobile payments in Sri Lanka only through licensed banks, registered finance companies and custodian account-based systems operated by nonbank service providers. Banks and financial institutions would be allowed to offer mobile-payments services to their accountholders, which would allow customers to operate their accounts via their mobile phone. Under the custodian account-based system, mobile operators may open e-money accounts for customers and issue e-money in exchange for actual money from customers, according to the guidelines.The central bank would allow mobile-payment services to be conducted only in Sri Lanka rupees and only for domestic transactions, and providers must route all foreign inward remittances to mobile accounts through the custodian banks and credit them in rupees. The draft rules also would require mobile-payments providers to report any suspicious transactions based on the guidelines of the central bank’s Financial Intelligence Unit. The draft also requires providers to use security measures to prevent criminal activity while using Near Field Communication-based mobile-payment systems.