Commuters in the city of Mumbai will have to go through a process of documentation and verification before using their contactless smart cards on the city’s soon to be launched Metro and Monorail service.

Latham, N.Y.-based Sunmark Federal Credit Union has introduced a mobile banking application that will allow members to conduct financial transactions and to voice opinions about the credit union’s products and services.

The technology officer of a payday loan marketer has agreed to pay $850,000 to settle FTC charges for his role in an allegedly deceptive and unfair scheme that debited the bank accounts of hundreds of thousands of consumers in violation of federal law.

A settlement involving the top two payments networks over their merchant acceptance policies gives retailers more clout to promote the use of cheaper cards, but an analyst doubts many businesses will change their practices.

LATHAM, N.Y. – Sunmark FCU has introduced a mobile banking application that will allow members to conduct financial transactions and to voice opinions about the credit union’s products and services.

Participants in a cross-industry forum to help develop U.S. mobile payments technology are nearing completion of a white paper that aims to identify the significant obstacles and opportunities facing the industry, Richard R. Oliver, executive vice president of the Federal Reserve Bank of Atlanta, told attendees Oct. 5 at SourceMedia’s ATM, Debit & Prepaid Forum in Phoenix, Ariz.

Bling Nation Ltd.’s deal with Fifth Third Processing Solutions LLC could give them the entree they need to promote the company’s postage-stamp-sized contactless payment sticker across the country.

Students and staff at The London School of Economics and Political Science may use a single contactless card to access school facilities and make purchases on campus using technology developed by United Kingdom-based electronic funds provider sQuid. The school is issuing the cards to new students, and it will enable existing students and staff to upgrade their older cards by yearend.

ItzCash Card Pvt. Ltd. has become India's first multiservice prepaid company to receive a license from the country’s central bank to operate a mobile wallet, a spokesperson for the Mumbai-based company tells PaymentsSource.

Looking to boost resources to meet an expected spike in demand for mobile financial services, ClairMail announced a $13.9 million infusion from VCs including Investor Growth Capital (IGC), a Stockholm firm that specializes in growth-stage tech firms.

BAKERSFIELD, Calif. – Kern Schools FCU has signed with Fiserv to implement the company’s XP2 account processing platform.

The National Bank of Rwanda has set guidelines for mobile-phone payment systems in that country, according to a notice on the institution’s website.

CORPUS CHRISTI, Texas – NavyArmy FCU has signed with ATM maker Diebold to implement the company’s new mobile banking solution.

Mobile banking and melding credit union cultures following mergers will be two of the most pressing issues facing the movement in the coming 12 months.

The Chicago Transit Authority has moved into the next phase of launching an open-loop electronic fare-collection system that would accept contactless card and mobile payments, the organization announced Sept. 28.

Jack Henry & Associates Inc.'s ProfitStars division has begun offering Mitek Systems Inc.'s mobile remote-deposit capture software, pairing it with its own Alogent Mobile Remote Deposit system.

Research In Motion Ltd. is expanding the payment capabilities of its BlackBerry smartphones.

NCR Corp. said Wednesday that it is providing a mobile banking system to customers of Hancock Holding Co.'s Hancock Bank.

MasterCard Inc. has developed a prepaid card that can be loaded with multiple currencies, each stored in a separate account.

A Web-based incentive company is hoping Facebook Inc.’s virtual currency system can become a more-effective and less-expensive way for Internet retailers to develop consumer loyalty.