1

Does any body knows how to change the Payment information name of Custom Payment Module.

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2

First

Check for system > configuration > sale tab > Payment Methods and change Title of you desired payment method.

Second

go to app/code/local or community/Spacename/Modulename/etc/config.xml

and search for following xml nodes and change Title their

   <default>
    <payment>     
        <title>here</title>
    </payment>
  </default> 
0
1

if you want to know in which file you need to change the name, you can use Magento template path hints here : system> configuration > Advanced > Developer .

than switch to current store under Current configuration scope

than enable template path hints under Debug, than under Shipping method you can see from which file the label "cardpayment " is coming from....

Also in some modules, they mentioned that Name under System > Configuration > Payment methods > Title....

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