Banks and technology companies betting on mobile payments have to overcome a very basic hurdle: most Americans still do not have smartphones.

A transit open-loop fare collection pilot in New Jersey that uses a Visa-branded prepaid debit card could help change the traditional notions about how to distribute a general-purpose reloadable product to financially underserved consumers, notes an industry observer.

Borrowing money from a friend for a taxi ride, splitting the restaurant bill among a group of diners or sending funds to a student at college could become an easier and faster task through a new mobile-payment option Visa Europe is launching this week.

Isis announced on Sept. 27 that several companies will launch mobile devices that implement its NFC and technology standards.

LAKE COUNTY, Ill. – Consumers CU has signed with VSoft to implement the company’s merchant remote deposit capture, home/office and mobile RDC, and branch item capture solutions.

CHICAGO–Mobile-payment initiatives could falter if consumers continue to believe the payment option is unsafe to use at the point of sale, one industry insider noted during a conference Sept. 26.

Banks tend to look at competitors in mobile payments with a wary eye, but they would be better off working with one segment of this group–telecommunication network providers, suggests Ernst & Young’s new report “Mobile Money 2011 (see report).

WESTBURY, N.Y. – Nassau Educators FCU has selected Trusteer Rapport to protect its members against cybercrime and meet new FFIEC Guidelines for online banking security.

CHICAGO – Alliant CU has installed DocuSign’s electronic signature solution, which is designed to streamline account opening, loan processing and internal approvals.

The U.S. average credit card charge-off rate declined in August, resuming the general downward trend of the past two years following a slight uptick in July, according to a new Moody’s Investors Service report issued Sept. 23.

CALRKSVILLE, Tenn.-Fort Campbell FCU says it has increased overdraft revenue and member service by using an automated tool that sets overdraft limits and adjusts them as members' behaviors change.

Kenya is proving to be a hub of mobile-finance innovation in the developing world, even as mobile-payment systems in the U.S. struggle to build an audience.

TORONTO–Banks are starting to notice that their online banking and mobile sites are not as good as customers expect.

Third-party payment services in China are gaining momentum over bank-led payment services among users thanks to e-commerce growth and changes in government regulations, suggests a research report released last week by research firm Analysys International.

MasterCard for the past several years has been promoting its “priceless” experiences, such as behind-the-scenes access at ball games, golf tournaments, theater shows and other events. But its new “Priceless Cities” campaign, launched in New York in July, adds local and social-media dimensions.

MAPLE GROVE, Minn. – TopLine FCU rolled out mobile banking by Cavion.

Concerned customers of Web site domain provider GoDaddy.com Inc. were blazing the blog lines with questions and speculation in the wake of the company’s Wednesday announcement that 445 of its hosting merchant accounts experienced a security breach.

Concerned customers of website domain provider GoDaddy.com Inc. were blazing the blog lines with questions and speculation in the wake of the company’s Sept. 21 announcement that 445 of its hosting merchant accounts experienced a security breach.

Google Wallet and its rivals are coming soon to bank customers’ mobile phones, but it turns out the vast majority of them could not care less, new research suggests.

NEW YORK–Banks increasingly are using mobile devices as an added layer of authentication for online banking, but crooks can intercept messages sent to a phone. A security method developed in South Africa may close that security hole.