Payments

Mobile-marketing firm Mocapay Inc. this month announced a strategic partnership with payments processor eNational Payments with the goal of helping merchants to deliver customized coupons and other promotions to consumers via mobile handsets.

Vertifi Software, a wholly owned subsidiary of Eastern Corporate Credit Union, said it has developed a fully-featured mobile banking iPhone application for members of Randolph-Brooks FCU in Live Oak, Texas, and it is now available on the App Store.

PROVO, Utah – Bonneville Bancorp is taking an unusually drastic – and seemingly counterintuitive – approach to fighting fraud.

Checks may be getting an extended life now that financial institutions are developing and rolling out mobile remote-deposit capture technology as part of their mobile-banking applications, observers say.

A new iPhone application that lets consumers rack up reward points by simply walking in to stores could give banks and card issuers the foundation for a truly mobile loyalty program.

PURCHASE, N.Y. – MasterCard said yesterday it plans to offer Citi cardholders a new card for which users can set spending controls and receive real-time information.

Mitek Systems Inc. on Aug. 18 announced it has received a patent from the United States Patent and Trademark Office for its mobile remote-deposit capture application.

PayPal Inc.'s next round of mobile payment features, including its rumored future as an additional payment system for Google Inc. phones, shows the strength of PayPal's mobile strategy and the weakness of Google's historical approach to payments.

CHAMPAIGN, Ill. – The University of Illinois Employees CU has signed with the UI Alumni Association to provide its 625,000 members with an affinity credit card.

The credit outlook at the top six card issuers is getting brighter, with both chargeoffs and delinquencies falling again in July.

Mitek Systems Inc., which reported that its loss widened in its fiscal third quarter, says its software is becoming popular for mobile remote deposit capture.

LANSING, Mich. – The Michigan CU League’s CUcorp has signed with Discover Financial Services to bring credit unions an affinity credit card program it said will promote charitable donations.

U.S. consumers are carrying fewer credit cards than they were three years ago, while New Yorkers tote more plastic in their wallets than residents of any other state, according to new data Experian PLC released this month.

With little room to add major new retail partners to sell its prepaid debit cards, Green Dot Corp. is focusing on new features, especially mobile, to increase same-store sales and reduce churn.

A security vendor is trying to sell transaction monitoring services directly to consumers, a technology that until now has been offered primarily to banks.

CINCINNATI – Fifth Third Processing Solutions, which processes cards for almost 800 credit unions, said yesterday it has signed with edo Interactive’s Prewards to offer the company’s loyalty and rewards programs to its cards processing clients.

KeyBank is offering customers text-based banking services through Fiserv Inc.'s Mobile Money program, the Brookfield, Wis., bank technology vendor said Wednesday.

India’s UTI Mutual Fund is partnering with mobile-payments provider mChek Pvt. Ltd. to launch UTI Mobile, a service that enables investors to initiate payment instructions for investing in mutual funds from a mobile phone, a spokesperson for the Mumbai-based asset management company tells PaymentsSource.

Life Insurance Corp. of India Ltd. policyholders soon will be able to use their mobile phones to pay their insurance premiums, a spokesperson for the government-owned insurer tells PaymentsSource.

The Royal Bank of Scotland Group has agreed to sell its credit card payment processing unit to Advent International Corp. and Bain Capital for $2.7 billion, according to the companies.