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Aiming to Jump-Start NFC with Banks, MasterCard Pours Money into mFoundry
In a move that could bring mobile payments based on near-field communication (NFC) to a wide array of financial institutions, MasterCard Inc. on Thursday announced it will provide its PayPass contactless-payment technology to mFoundry Inc., a Larkspur, Calif.-based vendor of mobile-banking software. MasterCard also invested an undisclosed sum in mFoundry, …
Read More »Trends & Tactics
PayPal (Sort of) Embraces NFC … With rivals like Google Inc., Visa Inc., and MasterCard Inc. having jumped into near-field communication technology, there has been no little speculation in the payments business about when, or whether, PayPal Inc. would take the plunge. Wonder no more. The eBay …
Read More »Networks: Image Archiving’s New Look
By Peter Lucas As check volume dwindles, processors and banks are scrambling to find new ways to leverage the fixed costs of their check-image archives. It’s no secret that paper-check volume is in steady decline. Thanks to the growing popularity of electronic payments, the number …
Read More »Opinion&Analysis: What’s Wrong with the Mobile Wallet?
By Steve Mott Scratch most of the proposed or existing wallets, and you’ll find the same payments infrastructure everyone is trying to move beyond. What’s needed is an alternative that benefits consumers and merchants as much as it does banks, networks, and carriers. The rising …
Read More »M-Commerce: Why Banks Should Promote Mobile for Small Business
By Debbie Smart Banks have struggled with finding ways to offer mobile services to business owners profitably. But if offered the right mix of payment services, small businesses will pay for value. According to Forrester Research, since 2007, the use of mobile banking applications has …
Read More »Endpoint: Time to Toe the Line on PCI
Frankly, a Level 4 validation mandate by industry leaders in the payments space would only cement in place a practice that already exists, but is not enforced uniformly. We’ve had the PCI DSS for years, yet breaches continue to put small merchants out of business. The cause is …
Read More »Just in Time for the Holidays—Gift Cards That Require Only 10% Down
With the holiday-shopping season set to kick off on Friday, a startup in San Diego has launched a Web site that lets consumers buy gift cards at 10% of face value. The remaining balance, the company says, comes due only when the cards are redeemed. The site, from Moola …
Read More »Merchants File Suit Accusing the Fed of Departing from the Law with Its Durbin Regs
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Read More »Chicago Transit Authority Places a $454 Million Bet on Open-Fare Payments
Open-fare payments for public transportation got a big boost when the Chicago Transit Authority announced it had awarded a $454 million, 12-year contract to Cubic Transportation Systems to build and maintain a payment system that accepts contactless cards. The CTA, which provides about 500 million rides a year, thus …
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