A federal court has ordered Swish Marketing Inc. to pay more than $4.8 million for tricking hundreds of thousands of payday loan applicants into paying for an unrelated debit card.

BATON ROUGE, La. – E FCU has upgraded its fiVISION accountWORKS technology to the company’s new accountWORKS 2G.

ALEXANDRIA, Va. – CommonWealth One FCU has implemented FinanceWorks, a financial management solution from Intuit Financial Services, to provide consumers a way to budget, gain control over their spending and save more during these tough economic times.

A slowdown in inflows at foreign entities appears to have played a role in the biggest jump in deposits at domestically-chartered banks in more than two years.

Credit card issuers wanting to improve profitability in the wake of the recession could get better results by looking more closely at their own fraud cases to determine specifically which type of fraud criminals are perpetrating and how to stop it, new research from Experian PLC suggests.

Buoyed by the fast uptake of smartphones and tablets in the country, First National Bank Ltd. says it has become the first financial institution in South Africa to offer a mobile-banking application to its customers.

The former marketing executive of the publisher of the Guitar Hero and Call of Duty video games is now running BillMyParents Inc.’s marketing operations, the online payments company announced July 21.

Though contactless payments have long been advertised for their ease of use, recent trials have departed from that premise. Some banks are putting the focus back on simplicity — and making payments as easy as a flick of the wrist.

Bolstered by a resurgence in consumer spending and improving credit quality, American Express Co. on July 21 reported higher second-quarter income and revenues–and a steep increase in its marketing and rewards-program costs.

As the hype for widespread Near Field Communication-enabled mobile payments continues to heat up, eBay Inc.’s CEO doused some cold water on the concept, suggesting instead that large merchants will resist the unproven technology.

Reflecting continued growth in all three of the company’s business specialties, including private-label card services, Alliance Data Systems Corp. on July 21 reported double-digit increases in both second-quarter revenue and profit.

Discover Financial Services’ agreement with online-payments specialist Mazooma illustrates Discover’s goal to be in the forefront of all payments services, not just those related to credit or debit cards, a top executive with the card brand tells PaymentsSource.

Mobile payments will surpass 141.1 million users worldwide this year, a 38.2% increase from 102.1 million users in 2010, according to Gartner estimates released July 21. Worldwide mobile payment sales volume is forecast to total $86.1 billion, up 75.9% from 2010 volume of $48.9 billion.

FARMINGVILLE, N.Y. – Teachers FCU has chosen CUBUS Solutions’ CUStatements to add to its delivery of next-generation online banking services to members.

ALBUQUERQUE, N.M. – U.S. New Mexico FCU has contracted with INX Inc. to provide it with data center virtualization services.

Merchants selling digital content likely grimace at the thought of a consumer making a 99-cent purchase using a credit card because of the fees involved with that transaction.

Giftango Corp. wants to give merchants a head start on the mobile-wallet age by placing two-dimensional barcodes on the back of their proprietary, closed-loop gift cards to enable consumers to convert the plastic to a digital format via a smartphone camera, among other capabilities.

Default rates for first and second mortgages, bank cards and auto loans decreased in June, according to a report released Tuesday by Standard & Poor's and Experian.

Boosted by a massive reduction in loan-loss reserves, Bank of America Corp.’s global cards unit produced second-quarter net income of $2 billion, up 142% from $826 million a year earlier, the company announced Tuesday.

CEDAR PARK, Texas – IBT, a provider of real-time channel integration software applications, is joining with ShareTec to offer an integrated solution for teller capture, branch capture and share draft processing.