Browsing: Payments
Fed’s Powell: Payment Security Requires ‘Coordinated Efforts’
All participants in the payments system must work together to ensure that payment innovation advances safely, Federal Reserve Governor Jerome Powell said today at a payments conference in Kansas City.
The Fundamentals of Mobile and Digital Payments for Bankers
Mobile phones are changing the way people make payments.
An Eye to the Future of Banking
What’s on the community bank CEO horizon? M&A, mobile payments, mortgages and more.
Numerous ABA Members Named to Fed Payments Task Force
The Federal Reserve recently released the roster of those selected for its Faster Payments Task Force, a group representing all stakeholders in the payments industry to help identify approaches to creating a better, faster and safer U.S. payments system.
ABA Urges Fed to Back NACHA Same-Day Payments Rule
ABA today urged the Federal Reserve to approve the recent rule change from NACHA, the electronic payments association, that would require financial institutions to have same-day ACH capability and require sending institutions to pay a 5.2 cent per-transaction fee to offset the costs of participating in same-day ACH.
Boston Fed: Unbanked More Likely to Use Prepaid Cards
People without checking accounts are nearly twice as likely as those who do have checking accounts to own a general-purpose, reloadable prepaid card, according to researchers at the Federal Reserve Bank of Boston. Twenty-four percent of the banked have a prepaid card, while 45 percent of the unbanked do, they found.
AmEx Must Change Anti-Steering Rules During Appeal
A New York court blocked American Express from implementing its anti-steering rules preventing merchants from suggesting customers use a lower-cost card during its appeal.
ABA, Trade Groups Call for Support of Data Security Act
Retailers and other firms involved in the payments process should be subject to the same data security requirements as banks, ABA President and CEO Frank Keating and other trade group CEOs said in an op-ed today published in The Hill newspaper.
ABA Report: Credit Card Use Rises as Jobs Grow in Q4
Fourth-quarter credit card spending continued rising on strong employment numbers and the strength of the super-prime credit market, according to the latest edition of ABA’s Credit Card Market Monitor released today.