Technology

Several of the biggest credit card issuers in December posted their lowest rates for chargeoffs than in any other month of 2010, meaning fewer accounts are slipping into default.

Chase Paymentech Solutions LLC has rolled out a suite of services called Safetech Fraud and Security Solutions, the New York-based merchant-processing unit of JPMorgan Chase & Co. announced Jan. 18.

Gemalto NV is participating in a Near Field Communication payment pilot in Japan that launches this quarter, the France-based technology provider announced Jan. 18.

At least 10 new clients adopted Mitek Systems Inc.’s mobile check-capture software last quarter, including three of the top 10 U.S. retail banks and a top-30 credit union, the San Diego-based vendor announced Jan 18.

Using mobile phones to track and redeem credit and debit card loyalty points soon may become key elements of loyalty marketing, according to Andrew Davidson, senior vice president at Mintel Comperemedia.

Fifth Third Processing Solutions LLC has agreed to supply ATM and debit card transaction processing and other services to six credit unions, the Cincinnati-based processor announced Jan. 18.

Citing improved credit quality and higher overall purchase volume, Citigroup Inc. on Jan. 18 reported a $623 million profit for its Citi-branded credit card operation for the fourth quarter ended Dec. 31; the unit reported a $51 million loss during the same period a year earlier. Revenue rose 71%, to $4.07 billion from $2.38 billion.

MasterCard Worldwide will be the exclusive brand of the Transport for London’s Oyster card wallet as the international card brand hopes to raise consumer awareness of its PayPass contactless-payment service, MasterCard announced Jan. 17.

The average U.S. bankcard charge-off rate in December declined 144 basis points to 6.73% from 8.17% a year earlier, according to data Standard & Poor’s Ratings Group and ExperianPLC released Jan. 18.

Global Payments Inc. will provide multi-currency processing services to merchants in the United States and Canada through a deal with Planet Payment Inc., the Atlanta-based merchant processor announced Jan. 18.