Kate Fitzgerald

U.S. credit card borrowers shed $4.5 billion in debt in June, continuing the pattern of reducing overall outstanding receivables that began in the fall of 2008, according to a Federal Reserve G.19 report on consumer credit released Aug. 6.

Consumer confidence declined in July for the third consecutive month as pessimism about the economy rose, according to Discover Financial Services.

Wright Express Corp., which is trying to diversify its fuel card operations, is buying the Australian prepaid and fleet card operations of Retail Decisions Ltd.

A report from the Federal Reserve Bank of Boston has quantified something that many payments executives have long suspected: that lower-income people subsidize the costs of rewards programs for wealthier consumers.

Visa Inc. on July 28 reported net income of $716 million for the fiscal third quarter ended June 30, down 1.8% from $729 million during the same period a year earlier. Net operating revenue was $2 billion, up 21.2% from $1.65 billion, driven by growth in data processing and international transaction revenue, the company said.

Small-business owners' confidence in the economy fell again in July as fears about of another recession rose, according to Discover Financial Services.

Credit card issuers have dropped many policies that lawmakers deemed unfair and barred under the CARD Act, but some new practices that could put consumers at risk are increasing, according to a report from the Pew Health Group's Safe Credit Cards Project.

Debit issuers need "radical thinking" to generate more volume and more revenue from their cards, a survey report from First Data Corp. concluded.

The City of Scottsdale, Ariz., is backing away from credit cards as a payment option for utility bills, starting Sept. 1, in an effort to rein in its transaction processing expenses.

The first deadlines for Canadian banks and merchants to shift to the EMV Integrated Circuit Card Specifications will hit in October, and security experts are warning that U.S. payments companies should expect a surge in fraud as criminals target more porous systems.

The Barclays PLC unit also is trying to prove it can compete with larger issuers without a national branch network, which has become an increasingly important resource for big banks that can cross-sell their cards to existing customers.

Visa Inc. is getting heat from one of the United Kingdom's largest consumer-advocacy groups, which claims the card network's exclusive ticket-sales deal for the 2012 Olympic Games in London discriminates against non-Visa cardholders.

New debit card interchange rules that are likely to take effect next year could take a bite out of independent service organizations' profit margins, according to industry watchers.

Small-business owners' overall confidence in the economy fell slightly in June as concerns about temporary cash flow increased, according to Discover Financial Services.

With Congress expected to approve the regulatory reform bill this week, including the much debated interchange amendment, banks are bracing for a significant hit to their debit card revenue.

With Congress expected to approve the regulatory reform bill next week, including the much-debated interchange amendment, banks are bracing for a significant hit to their debit card revenue.

The consumer credit card charge-off rate declined for the second consecutive month in May, increasing the likelihood that they soon will dip below their year-ago levels, Moody's Investors Service Inc. said Tuesday.

Card industry representatives are criticizing a Washington hearing into federal payment of interchange fees that they say gave their side little opportunity to advance its position.

The Federal Reserve Board approved a final rule on Tuesday that will cap late fees on credit card payments and ban "inactivity" fees.

U.S. consumers' average credit card debt in May fell to its lowest level so far this year, while credit scores held steady, according to Credit Karma.