Technology

The Federal Trade Commission stopped an operation involving individuals and companies that allegedly deceived consumers into paying for bogus credit cards, and then charged them illegal fees.

Domestic spending on Visa-branded cards in the U.S. continued to grow during the second three months of this year, while the economy and market effects took their toll on MasterCard Worldwide.

Card issuers within the past two years dramatically reduced consumers’ borrowing capacity to reduce the risk of losses during the recession. But new data suggest the bulk of the credit-line cuts came from closing inactive card accounts, not slashing active borrowers’ credit lines, Moody’s Investors Service noted in a report last week.

MasterCard Inc. is trying to reach the small but growing number of people who might be ready for mobile payments by sending them time-sensitive offers that can help them save money and become more comfortable using their phones to make purchases.

In a move one analyst says might be tied to poor results following a change in company sales strategy, Heartland Payment Systems Inc. has reassigned its chief sales officer to a regional director position, the Princeton, N.J.-based payment processor announced Friday in an 8-K report filed with the Securities and Exchange Commission.

Commuter-benefits provider TransitCenter Inc. has begun participating in the six-month contactless-payment trial MasterCard Worldwide is leading along with three New York-area transit agencies.

U.S. consumers’ average credit card debt fell during the first eight months of this year, while the average credit score also inched down from the start of the year, according to new data Credit Karma released Sept. 13.

Rancho Cucamonga, Calif.-based Co-op Financial Services will add credit card processing to its debit card transaction processing business line.

The analytics provider CoreLogic Inc. has two new products it says will help online lenders more accurately assess the risk associated with nontraditional credit applicants.

Card issuers within the past two years dramatically reduced consumers’ borrowing capacity to reduce the risk of losses during the recession, but new data suggest the bulk of the credit-line cuts came from closing inactive card accounts, not slashing active borrowers’ credit lines, Moody’s Investors Service notes in a Sept. 9 report.