Retailers

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.

VeriFone Systems Inc. is supplying a Turkish gasoline retailer with unattended pay-at-the-pump payment terminals, VeriFone announced May 18.

Mechanics Bank of Richmond, Calif., has chosen fraud-protection product from VSoft Corp., the vendor announced May 18.

ControlScan Inc. is offering new services it said would streamline the Payment Card Industry Data Security Standard compliance process for small and midsize merchants.

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.

Dramatic reductions in credit card bad-debt and total expenses, plus gains in customer use of private-label cards within its stores driven by a 5% rewards discount launched in October, helped boost fiscal first quarter profitability within Target Corp.’s Credit Card segment.

WASHINGTON – Senate Majority Leader Harry Reid plans to hold a vote on a proposal to delay the cap on debit fees, even as the Senate leader says he is opposed to the delay.

Police in Oakland, Calif., shut down an alleged identity theft operation that involved potentially thousands of Bay Area victims, The Oakland Tribune reported Monday.

Hoping to capture a greater share of the burgeoning and highly competitive market involving young Hispanic consumers, Western Union Co. is partnering with leading Hispanic-content broadcaster Telemundo Communications Group LLC to promote two MasterCard-branded reloadable prepaid cards.

MasterCard Worldwide on May 16 launched a national marketing campaign to support enhanced features of its World Elite premium credit card as the card company continues to target the affluent consumer market, which tends to have high spend on credit cards and favors cards with travel and experiential rewards.

Consumers use debit cards more often than other payment options at the point of sale, but their use of cash is not far behind, suggesting that they continue to monitor spending to stay within their budgets, new research shows.