Big debit card issuer TCF Financial Corp. might need to lay off more than 2,000 employees to offset potential revenue losses if the Federal Reserve Board’s most draconian debit interchange price-control proposal takes effect, TCF said in recent court filings. Wayzata, Minn.-based TCF also said that its annual revenue loss …

P2P Books a Fast Ride on EFT Rails Thanks to new agreements involving two major electronic funds transfer networks, person-to-person (P2P) electronic payments are poised to get a whole lot faster. Under a deal announced in February, NYCE Payments Network LLC will offer CashEdge Inc.’s Popmoney person-to-person payments service to …

By Lauri Giesen Acquirers and payment specialists are coming out with new services for small and mid-size health-care providers to convert paper-based payments into electronics. But it’s a delicate, time-consuming undertaking. In some ways, moving cash and paper-based payments to electronics is not much different for health-care providers than it …

Jim Daly Small financial institutions use remote deposit capture to compensate for their lack of branches as they compete with big banks for depositors, but that’s not the only reason they’re deploying the new technology. Geography matters, but it’s not all that matters regarding 21st Century deposit gathering. The spread …

The National Retail Federation misstates par value, understates banks’ costs to process debit cards, and conveniently forgets how merchants have benefited from replacing checks with electronic transactions, says Rule Loving. Merchants should be careful of what they seek. Unintended consequences from misinformation may tarnish anticipated benefits. Rule Loving is assistant …

Banking processor Fiserv Inc. announced a trio of acquisitions in a 24-hour period that included picking up Atlanta-based mobile-banking technology provider Mobile Commerce Ltd., known as M-Com.  Brookfield, Wis.-based Fiserv also announced it is acquiring Maverick Network Solutions Inc., a Wilmington, Del.-based prepaid card processor, and Credit Union On-Line Inc., …

Discover Financial Services on Tuesday found itself at the center of two announcements signaling increasing interest in the payments industry in alternative payments and electronic billing. Ebillme, an online-payments service offered by Rye Brook, N.Y.-based ModaSolutions Corp., said online merchants that accept Discover cards will be able to accept eBillme …

Congress heard conflicting testimony Thursday on whether implementation of new debit card restrictions should be delayed. The rules, which were proposed by the Federal Reserve in December as directed by the Durbin Amendment to the Dodd-Frank Act, came under attack in House of Representatives subcommittee testimony from financial-institution and network …

JPMorgan Chase & Co. plans to use Mitek Systems Inc.’s Mobile Deposit software in future versions of its QuickDeposit service for mobile remote deposit capture across multiple smart-phone operating platforms. The announcement furthered Mitek’s lead as the top vendor in the fast-growing mobile-capture niche. Citing confidentiality agreements with customers, Mitek …

Despite being exempt from pending debit card interchange regulations, small banks seem to be convinced that their revenues are about to take a hit and are planning to raise account fees or reduce access to debit cards to compensate, according to survey results from the Independent Community Bankers of America. …