Consumers making purchases with the Chicago Transit Authority’s coming Ventra combination transit and general-purpose MasterCard prepaid card are expected to incur maximum user fees of $8.45 in a given month, provided the cardholder triggers all the expected fees in that time period, according to processor First Data Corp. The …

Lauri Giesen Declining interchange revenues are squeezing non-bank ATM owners and managers, but new revenue sources and technology could ease the pain. It’s a challenging time for many deployers of ATMs in off-premise locations. With higher costs caused by changing government and network regulations and declining interchange revenue, many independent …

Linda Punch Proponents say EMV chip cards with dynamic authentication could take a real bite out of card fraud. But what does this new technology mean for PINs? As the card industry rolls out so-called EMV contact and contactless chip cards in the U.S., the technology known as dynamic data …

Jim Daly Could Congress be convinced to impose Durbin-style price caps on credit card interchange, the way it did with debit cards? Many regard such a scenario as a near impossibility, but hope springs eternal. Unless they’re public-sector contractors, retailers and other business people usually say they want government out …

  Great news for mobile payments: the Federal Reserve says the percentage of consumers using a smart phone to make a purchase at the point of sale grew nearly threefold last year. Not-so-great news: don’t rely on that figure, because it’s too small to be statistically significant. Those and other …

  Consumers are paying fewer bills than they were in 2009, but paying more of them online and through mobile devices. Between 2009 and 2011 total consumer bill payments fell from 16.6 billion to 16.1 billion, according to a report released this week by Boston-based Aite Group LLC. The decline …

Mike Duffy, president and chief executive of JPMorgan Chase & Co.’s Chase Paymentech merchant-acquiring subsidiary and one of the acquiring industry’s most prominent figures, died Thursday after a long illness. “It is difficult to put into words how much Mike will be missed,” said Gordon Smith, chief executive of Chase …

With the U.S. embarking on its gradual implementation of EMV chip card technology beginning this year, recent news from Canada’s national debit network should be encouraging. Introduction of EMV—the Europay-MasterCard-Visa standard—in Canada has helped reduce debit card fraud losses on Interac cards due to skimming to the lowest level since …

E-commerce, better malware, and mobile devices are on the minds of fraudsters, according to Trustwave Holdings Inc.’s latest annual data-breach study. Chicago-based Trustwave, a leading data-forensics investigator and security vendor, based its report on 450 data breaches it investigated last year around the world. Hackers targeted payment card data in …

Elizabeth Whalen Durbin Amendment rules affecting prepaid card transaction routing take effect next month. Already, the regulations are raising thorny operational, legal, and strategic issues that could take months or more to resolve. It’s not over yet. There is still one more provision from the Durbin Amendment in 2010’s Dodd-Frank …