Fintech

Dramatic reductions in credit card bad-debt and total expenses, plus gains in customer use of private-label cards within its stores driven by a 5% rewards discount launched in October, helped boost fiscal first quarter profitability within Target Corp.’s Credit Card segment.

InComm Inc. plans to develop local prepaid products in Brazil through an agreement it announced May 17 with prepaid card provider Unik S.A.

WASHINGTON – Senate Majority Leader Harry Reid plans to hold a vote on a proposal to delay the cap on debit fees, even as the Senate leader says he is opposed to the delay.

Police in Oakland, Calif., shut down an alleged identity theft operation that involved potentially thousands of Bay Area victims, The Oakland Tribune reported Monday.

Given a choice, some 76% of debit cardholders would sooner give up receiving rewards for their debit card use than absorb any fees for using their cards, new survey data show.

WASHINGTON – Senate Majority Leader Harry Reid plans to hold a vote on a proposal to delay the cap on debit fees, even as the Senate leader says he is opposed to the delay.

The average U.S. credit card charge-off rate in April likely fell again as it headed toward historic lows, suggest preliminary monthly account-default data from the nation’s top credit card issuers Moody’s Investors Service analyzed.

Hoping to capture a greater share of the burgeoning and highly competitive market involving young Hispanic consumers, Western Union Co. is partnering with leading Hispanic-content broadcaster Telemundo Communications Group LLC to promote two MasterCard-branded reloadable prepaid cards.

Investment firm Australasia Consolidated Ltd. has acquired eMerchants Holdings Pty Ltd., an Australian provider of prepaid financial services, for approximately AU$28 million (US$30 million or 21 million euros).

MasterCard Worldwide has appointed Ajay Bhalla president of DataCash Group PLC, the card brand announced May 17.