Fintech

HSBC Holdings PLC sought to assure the markets Nov. 9 that modest troubles collecting from borrowers last quarter have not disrupted the pending sale of its U.S. credit cards to Capital One Financial Corp.

Near the end of the Federal Reserve Bank of Chicago’s one-day payments symposium Sept. 26, Wal-Mart Stores Inc.’s Jamie Henry posed a question that had yet to be answered during the previous eight hours.

A group of U.S. senators on Wednesday introduced legislation that would allow states to cap credit card interest rates, which they say are riding at “extortion” rates for some consumers.

Global Cash Access Holdings Inc.’s revenue and net income continued to decline in the third quarter as a result of losing its largest customer, Harrah’s Entertainment, late in 2010, the company announced Nov. 9.

Mobile Money Network has landed a major retailer to participate in the initial phase of a mobile-payment software application launch that will enable United Kingdom consumers to purchase products for home delivery from any location by typing a product code into their phones, the London-based mobile commerce company announced Nov. 4.

The Western Union Co. is moving forward with plans to expand its cross-border business-payments unit now that it has officially completed a deal to purchase a division of London-based Travelex Holdings Ltd.

It may take some time for the full effect of a new interchange-rate cap to affect consumer and merchant behavior, but PIN-debit network executives anticipate a positive outcome for their operations.

E-commerce provider Alibaba Group Ltd. reportedly is preparing to expand access to it Alipay online-payments platform to countries outside of China within the next three months.

PayPal Inc. has delivered on its promise to activate contactless payments for its mobile wallet.

BREA, Calif. – Credit Union of Southern California, in the process of integrating Pomona’s Inland Empire CU after this summer’s acquisition of the $40-million credit union, has applied to state regulators to add North Orange County CU.