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 …

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 …

The Electronic Transactions Association on Thursday released what it called “guiding principles” that would govern how payment card networks communicate with and implement operational changes that affect merchant acquirers. The guidelines ask the networks to release changes to interchange schedules and operational rules just twice a year and give processors …

Every corporate merger presents risks to the companies involved and their owners, employees, and customers. Leading U.S.-based point-of-sale terminal maker VeriFone Systems Inc.’s planned takeover of smaller rival Hypercom Corp. is no exception: a recent regulatory filing detailing VeriFone’s merger plans devotes 26 pages to a host of risks. Of …

Rewriting the Transaction Routing Rules The Durbin Amendment throws out exclusive debit network agreements and gives merchants more freedom to route debit transactions according to their wishes. Who will win and lose in the post-Durbin world? BY JIM DALY By the time you read this, the Federal Reserve Board will …

Payments-industry executives and media reports have devoted most of their attention to the big debit card interchange cuts and network-routing aspects of the Federal Reserve Board’s proposed debit regulations that roiled the industry last week. But, given the Fed’s long list of requests for comment, the regulations in final form …

Six weeks ago, point-of-sale terminal maker VeriFone Systems Inc. made an unsolicited, $283 million cash bid for smaller U.S. rival Hypercom Corp., an offer Hypercom immediately rejected as too low and described as “opportunistic and intended to disrupt our business.” Hypercom went so far as to adopt a so-called poison …

The storm clouds over prepaid card program manager NetSpend Holdings Inc.’s IPO caused by regulatory problems at MetaBank, the prepaid card program manager’s main issuing partner, cleared Monday, enabling NetSpend to go through with the stock offering at the mid-point of its projected price range. And on Tuesday afternoon, NetSpend’s …

Hammered by the worst economic downturn in decades, consumers have been abandoning credit cards in droves, instead using debit cards as their plastic of choice. But new research suggests card issuers will soon have to revamp their credit card programs and beef up prepaid card marketing to offset an expected …

Recognizing that sloppy payment-processing software installations can lead to data breaches, Visa Inc. on Tuesday issued what it calls the top 10 best practices for secure software management. Visa is aiming the guidance mostly at third-party software vendors, integrators, value-added resellers (VARs), and others that sell or license card-processing applications …