News

March, 2010

• 4 March

  Small Banks No Longer Immune to Payments Fraud, Stats Show

  Attempted check fraud declined in 2008 for the first time in years, but overall check-fraud losses continued to climb while debit card fraud hit small banks especially hard, according to new statistics from the American Bankers Association on demand-deposit-account fraud. A preview of the latest ABA report was presented on …
• 4 March

  Apple Store Deal Gives High Profile to VeriFone’s PAYware Mobile

  In its effort to become a major supplier for merchants seeking to use their iPhones from Apple Inc. as payment card-accepting terminals, VeriFone Holdings Inc. already has announced a major marketing initiative for its PAYware Mobile system that includes a software application on Apple Inc.'s iTunes App Store and a …
• 4 March

  Mitek-NetDeposit Deal Lends More Impetus to Mobile Capture

  NetDeposit LLC, which this week announced it will support a mobile remote deposit capture product from San Diego-based Mitek Systems Inc., expects to have the service ready for financial-institution clients “some time” in the third quarter, says Chris Styga, executive vice president of the financial-service solutions group for the Salt …
• 2 March

  Remote Mobile Capture Is Ready for Prime Time, Researcher Argues

  Remote deposit capture by mobile phone, a recent technology still considered experimental by many bankers, has proven itself in deployments so far, a banking researcher said on Monday. “The technology is demonstrably ready for broad adoption,” Robert Meara, a senior analyst at Celent LLC, told attendees at a banking conference. …
• 2 March

  Fast-Growing Green Dot Plans To Do an IPO And Buy a Bank

  More than 10 years after its founding, prepaid card reload network and distributor Green Dot Corp. is considering an initial public offering to raise up to $150 million for its next growth phase. The registration statement Monrovia, Calif.-based Green Dot filed last week for the proposed stock offering is a …
• 1 March

  TSYS Changes Course, Forms Joint Venture with First National of Omaha

  The joint merchant-acquiring venture announced Monday by Total System Services Inc. (TSYS) and First National Bank of Omaha marks a major change in strategy by both companies. The deal, scheduled to close April 1, marks the first time TSYS is taking an ownership interest in a merchant portfolio. And for …

February, 2010

• 25 February

  Reload Capability Eludes Consumers Despite Prepaid’s Popularity

  The concept of the reloadable general-purpose prepaid card is a familiar one to those who work in the prepaid card industry, but it hasn't caught on with the general public, according to findings from Mercator Advisory Group Inc. A Mercator survey of 1,012 adults last May and June found that …
• 25 February

  UATP Books a Hotel As Its Airline-Card Network Diversifies

  Processing volume hit some turbulence last year, but that didn't stop Universal Air Travel Plan Inc. from pursing its goal of adding merchants to its airline-owned network. Washington, D.C.-based UATP last week reported that LQ Management LLC's La Quinta Inns & Suites has become the first hotel chain in the …
• 24 February

  Prepaid Card Mall Pioneer Blackhawk Moves into Online, B2B

  Less than a decade after launching its first gift card mall, the Blackhawk Network Inc. is looking for new frontiers of prepaid card growth in the online world and the business-to-business market. “I think we've learned a few things on how to serve the customer better,” Teri Llach, chief marketing …
• 23 February

  U.S. Issuers Begin to Fret About Mag-Stripe Problems Overseas

  U.S. card issuers are starting to worry about problems some of their high-spending and corporate card customers are having using their magnetic-stripe cards in countries that support the chip-and-PIN standard, according to executives who spoke on Tuesday at a smart card conference. Whereas the issue hardly seemed apparent only a …