Technology

PNC Financial Services Group Inc. is opening 6,000 new Virtual Wallet accounts per week, the Pittsburgh banking company's chairman and chief executive James Rohr said June 3.

Google Inc. isn't asking for a share of the payments revenue generated with its new mobile wallet. Nevertheless, partnering with the search engine juggernaut could be a trade-off for banks.

Jane Thompson, the president of Wal-Mart Stores Inc.'s financial services unit, plans to retire at the end of June, she told PaymentsSource sister publication American Banker on June 3.

Any independent sales organization contemplating a merchant cash-advance business should review the best-practice recommendations of the North American Merchant Advance Association, the group’s president advises.

U.S. consumers filed an estimated 568 lawsuits against collection agencies and creditors between May 1-15, according to statistics from U.S. District Court branches.

India’s IndusInd Bank Ltd.’s credit card program has begun receiving various additional services besides transaction processing under an agreement with India-based payments processor ElectraCard Services Pvt. Ltd.

WASHINGTON – U.S. Public Interest Group, the leading consumer lobby on Capitol Hill, called on lawmakers to reject efforts to delay implementation of the cuts in debit fees, saying the issue has been studied long enough and the cuts will help consumers.

With Americans increasingly concerned about the outlook for jobs and the economy, U.S. consumer confidence fell to a six-month low in May, according to The Conference Board's confidence index.

PayPal Inc. is ending its relationship with a unit of the Chinese e-commerce giant Alibaba Group Ltd., the eBay Inc. subsidiary said June 3 in a blog post.

The freeze in consumer credit showed another major crack in the first quarter.