Payments

TALLAHASSEE, Fla.-With second-half revenue streams threatened by Reg E and proposed interchange legislation, CU24 is developing programs to persuade members to use their ATM card more.

WILMINGTON, N.C.-Velocity Solutions is anticipating consumers will begin consolidating checking accounts-and accompanying debit cards-and is developing debit rewards programs to move that CU card to top of wallet.

Issuers in Europe are rolling out payment cards featuring built-in display screens that offer improved security and can provide access to balance information - but there are major hurdles that make it unlikely any banks would offer the technology in the U.S. anytime soon.

A Walt Disney World employee used skimming devices at several of the resort’s hotels to steal credit card information from guests, according to federal documents.

Fewer consumers were late on their credit card payments for the fourth consecutive month, a sign that U.S. consumers may be on the mend, according to a report Fitch Ratings released Friday. Payments that were 60 or more days late dropped to 4.18% in May, from 4.27% in April.

MasterCard Worldwide on June 3 introduced an application designed to enable cardholders with Apple Inc. iPhones to initiate person-to-person funds transfers between MasterCard accounts. But thus far just one U.S. banking company is supporting the service.

China Mobile reportedly is delaying deployment of an RF-SIM contactless-payment technology based on a standalone 2.4-gighertz frequency and instead is adopting SIMpass, a contactless card that uses a 13.56-megahetz radio frequency and that is fully compatible with the widely accepted Near Field Communication standard.

The Federal Trade Commission named several new defendants and added charges concerning so-called "forensic audits" to its lawsuit against an operation that allegedly bilked homeowners who were trying to lower their mortgage payments. The action is part of an ongoing crackdown on scams that target consumers who are behind in their mortgage payments or at risk of foreclosure.

A growing number of mobile payments companies are promoting systems that charge purchases to users' phone bills rather than credit or debit cards.

ST. PETERSBURG, Fla. – Credit unions across the country are reporting soaring debit card use by their members as the nation abandons the use of cash and checks for the convenience of electronic transactions.

Four out of five U.S. households with Internet access now bank online, suggest the results of a Fiserv Inc. survey released May 25.

Four out of five U.S. households with Internet access now bank online, suggest the results of a Fiserv Inc. survey released May 25.

Laxmi Bank Ltd. in Nepal has launched an online-payment service, an official from the Kathmandu-based bank tells PaymentsSource.

RANCHO CUCAMONGA, Calif.-Kim Hester, EVP network services for CO-Op Financial Services, observed that not all CUs view Reg E education as defensive. Some see it as a means to increase debit revenue.

WILMINGTON, N.C.-Credit unions that have approached the upcoming Reg E deadlines as a marketing opportunity and not just an operations issue stand a much greater chance of protecting their debit card revenue, analysts told Credit Union Journal.

PLEASANTON, Calif.-According to Mitch Lucas, the impending overdraft opt-in deadline could be more of an opportunity for credit unions than a setback.

NEW ORLEANS-If there is a silver lining in pending changes to Reg E, the CARD Act, and overall margin compression, is it critical need for credit unions to review their entire line-up of products and how they are priced.

NEW ORLEANS-Credit unions have no choice but to re-examine their fee structures and opt-in policies in the wake of pending changes to Reg E.

ST. PETERSBURG, Fla.-While it's expected that a requirement of the CARD Act that takes effect Aug. 22 will eat into banks' credit card fee income, one processor is not so sure CUs won't feel the bite, as well.

BROOKFIELD, Wis.-As credit unions race to meet the Reg E deadlines, two card experts are wondering if credit unions are paying attention to what may occur after Aug. 15.