n USAA, the financial institution that pioneered remote deposit capture, is suing Mitek Systems Inc., a leading vendor of software for the mobile version of RDC, claiming that Mitek stole its trade secrets and technology. n San Antonio, Texas-based USAA is seeking a declaratory judgment that it does not infringe …

  The magnolia tree outside my office window has bloomed, offering its seasonal display of flowering beauty and putting us in mind of other perennials, such as bankers’ lament that non-bank payments companies are unfairly luring away their customers.   The 10-gallon word for this alleged piracy is disintermediation. In …

  The automated clearing house network remains a huge and critical payments player, but its initiatives don’t grab headlines like mobile payments or even prepaid cards do. So just what is the ACH up to these days? By Jim Daly For the automated clearing house, it’s tough trying to get …

  It was announced with considerable fanfare almost a year ago, but since then little has been heard about the person-to-person payment service created by three of the nation’s top banks. Is clearXchange at risk of falling behind the competition? By Linda Punch When three powerhouses in financial services and …

  Barcodes for payments by smart phone have a proven track record and a diverse group of supporters, but many in the payments industry regard them as merely a way station on the road NFC-based mobile payments. Here’s where they stand today. By Jim Daly Sure, the techies and lots …

  The idea of managing ATMs through centralized, virtual systems is attracting adherents. But not all ATM makers are sold on it. By Lauri Giesen It seems the virtual world has touched nearly everyone these days, both in their professional and personal lives, with virtual games, social networks, and the …

The Western Union Co. took a decisive step into digital payments and online shopping with the launch last week of the WU Pay platform. The platform allows shoppers in the U.S. to pay for online purchases from their existing bank accounts or in cash at Western Union agent locations. Customers …

British mobile-banking and payments technology provider Monitise plc announced a $173 million deal Monday to buy San Rafael, Calif.-based Clairmail Inc. that will give Monitise a much bigger U.S. presence in mobile financial services and further consolidate a market nurtured by startups but feeling the increasing presence of international card …

Vantiv Inc. began trading on the New York Stock Exchange on Thursday with the symbol VNTV, having priced its shares late on Wednesday at $17, the mid-point of its estimated opening range. The Cincinnati-based payment processor saw its initial offering of 29.4 million shares raise just shy of $500 million. …

As the prepaid card market matures, more data are emerging about surprising consumer behavior regarding prepaid cards or that challenge the conventional wisdom. For example, research commissioned by big processor First Data Corp., a major player in the prepaid space, found that given a choice between taking a gift or …