Payments

VeriFone Holdings Inc. on Thursday named Chase Paymentech Solutions LLC as one of its preferred merchant processors for users of its mobile phone card reader.

Transaction Network Services Inc. and Blue Bamboo have entered into an agreement that enables independent sales organizations, acquirers and processors to sell a mobile-payment system, according to the companies.

LAKELAND, Fla. – MidFlorida Credit Union is re-issuing approximately 12,000 debit cards following fraud attempts linked to the earlier data breach at Heartland Payment Systems in January of 2009.

An Indian technology vendor plans to launch a service later this year that will enable investors in India to buy and sell mutual funds using mobile phone text messages.

DES MOINES, Iowa – As a result of passage of the CARD Act and its Aug. 22 compliance date, 95% of credit unions that issue cards in conjunction with TMG here have discontinued the authorization of overlimit credit card transactions, the company is reporting.

Citing an increased use in smartphones, the Arkansas state government earlier this month launched a mobile Web site that enables residents to use their phones to pay for certain government services. Residents may access the Arkansas.gov mobile Web site using their phone’s browser to make prison inmate trust-account deposits; probation, parole and restitution payments; and Pulaski County property tax payments.

The charge-off rate on U.S. credit cards declined last month, along with the rate of card accounts past due, according to a March 26 report from Fitch Group’s Fitch Ratings Inc.

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SAN JOSE, Calif. – Tech CU is providing its members with an enhanced list of methods to prevent being the victims of fraud through mobile banking.

Fiserv Inc. Monday announced that SunTrust Banks Inc. will use its mobile-banking service that gives consumers more access to mobile-financial services.

Arkansans can now make payments to the state government over their mobile phones.

Three years ago banks rushed to be first to offer mobile text-message alerts notifying customers of suspicious credit and debit card transactions. Now Visa Inc. is trying to up the stakes by emphasizing the superior speed of its mobile transaction-notification service compared with other such services.

One of the new credit card law's lesser-known provisions is funneling distressed borrowers to credit counselors, an industry once tarred as predatory. In an ironic twist, that outcome pleases consumer advocates more than it does some bankers.

Prices for bad-debt portfolios have gone up in recent weeks, with prices for fresh debt improving at a faster rate than older receivables, according to several industry insiders.

NEW YORK – Municipal CU yesterday announced it has converted the processing of its 60,000 credit card accounts to PSCU Financial Services.

When The Fortunate Cup Coffee Cafe Inc. began accepting a new form of mobile payments last week, it also began to brew up more business for the bank that made it possible.

HOUSTON-Just 12 days into offering a new "family card," Texas Dow Employees CU has taken $1.4 million in transfers and expects it to bring in $3 million total given that early success.

Gift and loyalty services company SparkBase says its deal announced this week with Apriva will expand the potential number of merchants that can accept SparkBase products.

The mobile banking technology provider ClairMail Inc. announced a platform that it says makes it easier to adapt mobile banking systems as a bank's business and technology needs change.

Citigroup Inc. is learning many consumers today do not share its enthusiasm for mobile payments.