Payments

Why would a merchant need to identify the card in any case? The "Honor all Cards" rules set forth by the card networks apply to all products.

ST. PETERSBURG, Fla.-PSCU Financial Services has introduced a "Design Your Own Card" (DYOC) solution that allows cardholders to select a personal photo and have it placed on their credit card. Members can upload the photo, such as a wedding scene or family pet, at the time they are applying for the card online. Members also have the option of choosing from a library of stock photographs.

Bling Nation Ltd. has struck a partnership with PayPal Inc. that could help the mobile payments network operator expand beyond its hyperlocal business model.

American Express Co.’s near-term forecast is looking rosier because of improving economic trends plus its role as the lone payment network escaping nearly unscathed from the latest round of card-industry regulations, one analyst says.

When my client called me June 21 in a panic saying they had just received a call from Springbok representative to let them know Springbok was closing its doors, I had to bite my tongue and only whisper to myself "I told you so."

Better economic conditions helped boost net profits at Discover Financial Services during its fiscal second quarter. The numbers were aided by higher cardholder spending, lower delinquencies and chargeoffs and a reversal in loan-loss reserve requirements.

Springbok was mostly a B2B prepaid provider, so the CARD Act would have a minimal effect on its business. The company was founded by two people, one of whom was so upset that he and his wife couldn't redeem a gift card to pay for movie tickets that he founded Springbok.

SACRAMENTO, Calif. — The Golden 1 Credit Union has launched a new person-to-person (P2P) payment service called EZPay Personal Payments that allows members to send money electronically to other individuals with Internet access.

Obopay Inc. is trying something new. Again.

With preferences for carrying and using cash continuing to drop, more consumers expect merchants to accept debit or credit cards for payment. But not all merchants do, especially those that lack physical storefronts. Some industry insiders believe mobile-based products might help encourage them to accept electronic payments.

CARPENTERIA, Calif. – Interchange fees actually declined last year because of the recession’s effect on retail sales, but are far larger than previously believed, almost $63 billion for 2009, according to the Nilson Report, a credit card newsletter.

Credit card delinquency rates continued to improve in May, firming a months-long trend.

JPMorgan Chase & Co. has hired a PayPal Inc. veteran to help guide its mobile strategy.

ATLANTA – Delta Community CU has introduced its own mobile banking program, which it said will provide both consumer and business services members with convenient and secure access to real-time account information through their cell phones, smart phones, PDAs or other mobile devices.

Nokia Corp.’s decision last week to include an NFC chip in every one of its smart phones starting next year finally could help move the technology from scattered worldwide pilots to a major rollout and widespread consumer adoption, observers say.

Square Inc. co-founder Jack Dorsey remains confident in the payments startup’s future despite mounting frustration among some early customers over delays in the processing service and the revelation last week of a further lag in availability.

KT Corp. expects soon to buy a stake in Korean credit card issuer BC Card Co., Korea’s second-largest mobile carrier announced June 16.

Credit card delinquencies and chargeoffs at credit unions remained near all-time highs, even as the average balance on card accounts continued to grow in the first quarter, according to AssetExchange, a card broker for credit unions.

Mobile payments have yet to take off domestically, but NACHA is positioning the automated clearing house network to play a prominent role, if and when they do.

First Federal Savings Bank is doing something different from other banks that issue contactless payment stickers. It's doing something pink.