Payments articles

Payments Exchange

New Transaction Liability Court rulings underscore the need for layered security systems By Cary Whaley How does the reversal by the U.S. Court of Appeal for the First Circuit of PATCO v. People’s United affect your community bank’s corporate online services? It signals a trend by several courts to rule against banks that fail to

Of a Different Feather

Is Bluebird now a checking account in a prepaid card’s clothing? By Cary Whaley In the March issue of ICBA Independent Banker, when I wrote about my “test drive” of the Bluebird prepaid card, Wal-Mart’s retail payments venture with American Express, I portrayed an awkward, limited product. I outlined why the Bluebird card—which included the

The Time Is Now

Why saying ‘yes’ to same-day ACH settlement makes sense By Cary Whaley As I consider the Automated Clearing House (ACH) and the migration from next-day to same-day settlement, I am reminded of the biblically inspired lyrics from the 1960s song “Turn! Turn! Turn!” To everything … there is a season … and a time for

The State of Swipe

A Federal Reserve survey gauges current issues in the debit card marketplace By Viveca Y. Ware To assist in the implementation of the debit card interchange fee standards, Section 1075 of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires the Federal Reserve Board to collect information from debit card issuers and payment card

Fighting the Good Fraud Fight

Payments survey shows debit card fraud is rising, but defensive systems are working well By Cary Whaley When someone says there’s good news and bad news, I always opt to hear the bad news first. So here is the bad news: Payments fraud is on the rise and continues to be a thorn in the

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