Retailers

Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co. plan to debut a person-to-person payments service on Wednesday that lets customers send money to each other with an email address or mobile phone number, the Wall Street Journal reported Tuesday.

Hoping to stimulate fresh interest in one of its relatively newer cobranded products, First National Bank of Omaha on May 24 unveiled enhancements to its Overstock.com MasterCard credit card introduced in September.

Payroll card providers may be missing an opportunity by failing to reach out enough to small businesses, new survey data suggest.

As consumers become more comfortable with such technologies as unlocking a car from inside the house to recording movies remotely they are becoming more interested in using mobile phones for payments, survey data from MasterCard Worldwide suggest.

Delay or customers will pay — from new deposit charges to merchant fees.

Heartland Payment Systems Inc. has introduced a service that streamlines payroll data, credit card sales and credit card tip data for restaurateurs at the point of sale, the transaction processor announced May 23.

Square Inc. is expanding beyond mobile card acceptance with a new service that allows consumers to initiate payments through its application.

Bank skepticism of the Isis mobile payments joint venture was high when the wireless carriers leading the initiative announced its formation last fall, but Isis says it has calmed early suspicions and now is working closely with major banks and payments companies.

Barclaycard and wireless-network operator Everything Everywhere Ltd. on May 19 officially launched the United Kingdom’s first contactless mobile-payment system, which uses a pay-as-you-go handset from Samsung Group. But its success could hinge on merchant acceptance of the technology continuing to grow.

Danal Inc.'s BilltoMobile is launching a payment service for e-commerce sites to route payments through the phone bills of more than 200 mobile carriers across 60 countries.

The prepaid card industry has an image problem.

PayPal Inc. is now connected to Microsoft Corp.’s Xbox 360 game consoles, a move that could spur growth in digital-game sales similar to what PayPal did for parent eBay Inc.’s marketplace a decade ago.

In concert with the release of new data indicating 40% of all payment cards and 71% of terminals worldwide now support the EMV standard, EMVCo LLC, the organization managing the EMV specifications, on May 20 released a new guide to help expand adoption of the chip-and-PIN technology.

CHICAGO–Evolving mobile technology is leading payment companies to develop new business models to capture revenue in a market many observers believe soon will offer enormous opportunities, executives said here May 20 during a panel discussion at the Federal Reserve Bank of Chicago’s annual conference.

U.S. banks and payments companies are attracted to China’s explosive population growth and surging economy, but the country’s regulatory climate makes the market a wild card.

The amount of online payment fraud occurring in the airline-booking industry is dropping, new research suggests.

WASHINGTON — Although Senate leaders have confirmed they will allow a floor vote soon on delaying interchange fee restrictions, the timing, outcome and vehicle for suspending the proposed cap are still anyone's guesses.

The investigation continues into how thieves managed to steal funds from consumers’ debit card accounts by tampering with PIN-pad terminals at 80 outlets of Michaels Stores Inc., but payment-security experts say many merchants’ terminals probably remain exposed to similar sophisticated attacks.

CHICAGO–Traditional U.S. payments players should adjust their industry approach to address evolving consumer preferences that are causing dramatic market changes to occur, an executive from the Federal Reserve Bank of Atlanta told attendees here May 19 during a panel discussion at the Federal Reserve Bank of Chicago’s annual conference.

WASHINGTON – Responding to progress credit unions and banks have made in Congress to delay or derail new interchange caps that are included in the Durbin Amendment to the Dodd-Frank Act, the National Retail Federation is rolling out a major, nationwide, 60-day lobbying, grassroots and media campaign aimed at ensuring that the law goes into effect as scheduled.