The Credit Card Fair Fee Act, a bill that would inject government into the interchange-setting process, has been resurrected after dying in committee last year. But this time there are more players around the table seemingly less inclined to sympathize with the defenders of the current bank card interchange system. …

Malicious software has been discovered on some Eastern European ATMs that has dangerous new powers to extract money as well as card data, according to a security executive. Meanwhile, Sony Corp. of America has confirmed that someone illicitly copied more than 5,000 credit card numbers of its customers who visited …

While the recession is making an impact on consumer spending generally, PIN debit card usage is faring considerably better than that of signature debit. Indeed, PIN debit transactions by consumers grew 15% between July and December, the period during which the economic downturn began making itself felt, nearly four times …

The effort to extend PIN debit to Web-based commerce embraced credit unions this week with the announcement by the Credit Union 24 electronic funds transfer network that it will pilot technology from Acculynk Inc., an Atlanta-based software company. The network, which links more than 100,000 ATMs and almost 500,000 point-of-sale …

In an indication of how fast mobile banking is developing as a mainstream product for financial institutions, Fiserv Inc. this week released a version of its Mobile Money software that could let banks deploy a mobile-banking service in three months or less. The new version, called Mobile Money FastTrack, is …

Banks aiming to improve customer service should accelerate their move away from old ATMs and the IBM operating system that ran them for years, according to conclusions in a new Aite Group LLC study of banks' ATM channels. While the transition from IBM Corp.'s old OS/2 operating system to Microsoft …

Merchants and independent sales organizations just aren't in a buying mood, and that's hurting the top line of the largest U.S.-based point-of-sale terminal maker, VeriFone Holdings Inc. San Jose, Calif.-based VeriFone late Tuesday reported that revenues for its fiscal 2009 second quarter ended April 30 fell 13.5% to $201.6 million …

Spurred by the increasing popularity of smart phones and a strong push by financial institutions, the number of Americans actively using mobile-banking services could grow to 53.1 million by 2013, an increase of 431% from an estimated 10 million today. That's the prediction from research firm TowerGroup Inc., which this …

Internet bill payments were the lone stars of electronic checks in the first quarter, a quarter that saw volumes on all other e-check applications either decline or barely rise from fourth-quarter 2008 levels. Most e-check codes also declined on a year-over-year basis, according to the latest automated clearing house volume …

Four years later, the fallout from the notorious CardSystems Solutions Inc. data breach?at the time the biggest hacking of payment card data ever?surfaced last week and looks like it could go on for months or even years. Merchant acquirer Merrick Bank Corp. is suing Savvis Inc., the company that inspected …