Merchant

West Virginia Attorney General Darrell McGraw's office is suing a Virginia title lender over its debt collection practices.

Standalone contactless payment cards may be headed for extinction in the U.S. The tap-and-pay card technology that began to emerge in the U.S. in 2005 never caught fire, as relatively few merchants adapted their payment terminals to accommodate it.

It may not jolt faster acceptance of Near Field Communication-based payments at the point of sale, but the introduction of other NFC capabilities should at least increase merchant and consumer interest in the technology.

VeriFone Systems Inc. has launched card-payment software in the United Kingdom and Ireland that supports the processing and management of in-store, online and mobile retail transactions, the terminal maker announced June 13.

The Chicago area’s transit authorities are a step closer to a cross-platform open-payment system that will enable riders to use open-loop contactless cards to access buses and trains.

Foreclosure filings - default notices, scheduled auctions and bank repossessions - were reported on 205,990 U.S. properties in May, an increase of 9% from April but still down 4% from the year-ago period.

This story has been updated from its original version with additional information.

A U.S. district court has halted an operation that allegedly preyed on financially vulnerable homeowners, convincing them to pay $1,995 or more by holding out false promises that they could help them avoid foreclosure and renegotiate their mortgages.

Ingenico SA plans to install its newest contactless payment terminals in the 3,000 point-of-sale locations in the SNCF, or National Corporation of French Railways, the Paris-based terminal maker announced June 13.

U.S. credit card debt decreased slightly in May, down .2% to $5,637 from April 2012, according to CreditKarma.com's U.S. Credit Score Climate Report released Wednesday.