Cards

Social-networking site Multiply has inked a deal for settling online payments with G-Xchange Inc., a statement from the telecom operator said. G-Xchange is a wholly owned subsidiary of Philippines-based Globe Telecom.

Monitise Americas LLC is planning to introduce a version of its Mobile Money application for phones that use Google Inc.'s Android operating system.

The Internal Revenue Service, in probing how $100 billion of credit card payments escape sales and income taxes each year, is looking at clients of processors including First Data Corp.

RIVERWOODS, Ill. – Discover Financial Services said it paid its former parent, Morgan Stanley, $775 million from a $2.75 antitrust settlement with Visa and MasterCard agreed to before the card company was spun off from Morgan Stanley in 2007.

Visa Inc.’s plan to add mobile-phone payment capabilities to handsets available now could provide a shot in the arm for contactless payment.

Cambridge University researchers looking into chip-and-PIN security say they successfully tricked a point-of-sale terminal into accepting a “dummy” PIN for a smart card using a “man-in-the-middle” attack.

A new regulation approved by the Financial Supervisory Service of Korea could slow domestic growth in mobile payments, an official from the regulator confirmed. Under the new policy, all transactions initiated with advanced handsets would be subject to the same security requirements that control online transactions initiated with personal computers.

A small mobile-phone Near Field Communication payment trial is under way in Slovenia designed to test consumer use of MasterCard and Maestro contactless payments, Inside Contactless announced today.

LIVE OAK, Texas – Randolph-Brooks FCU will distribute $4.2 million to members who used their debit cards to make purchases last year, the $3.7 billion credit union announced.

Cardtronics Inc. Thursday reported fourth-quarter and yearend profits as cash withdrawals increased per ATM, suggesting consumers kept credit cards in their wallets and relied instead on using debit cards and cash, according to an executive at the Houston-based ATM independent sales organization.

With the Vancouver 2010 Winter Olympic Games set to begin Friday, Affinity Solutions Inc. this week announced a partnership with the U.S. Olympic Committee that enables online shoppers to earn cash back through merchant-funded rewards. Participants also may donate funds to help athletes train and travel to the Summer and Winter Olympic Games.

With consumers increasingly shifting spending to debit, Total System Services Inc. has developed a way to help credit issuers retain those transactions by combining both functions in one card.

Banks in India are considering issuing network-branded open-loop prepaid cards in the face of declining credit card transaction volumes, local newspaper Daily News & Analysis reports.

With the economy showing signs of recovery, Federal Reserve Board Chairman Ben Bernanke on Wednesday gave more clues as to how the central bank will return to normal and made clear that financial institutions are central to his plans.

Growing debit and credit card use is affecting how often Texans carry cash, suggest the results of a survey by Swacha, a Dallas-based regional-payments association.

Affiliated Computer Services Inc. this week announced it has won a bid to continue processing child-supports payments for the Ohio Department of Job and Family Services. The potential nine-year agreement consists of a one-year base and four two-year options.

JPMorgan Chase & Co., the nation’s third-largest debit card issuer, is mailing letters to its debit cardholders urging them to sign up for the bank’s overdraft protection or overdraft coverage with a stern warning about financial penalties if they do not.

Visa Europe and France-based payment-services provider SAS Carte Bleue today announced the completion of a merger involving the companies’ French operations and the creation of Visa France.

MasterCard Worldwide’s credit card transactions are not being cannibalized by the growth in consumer debit card use, Chris McWilton, MasterCard president of U.S. markets, today told analysts at the Credit Suisse Financial Services Forum in Miami.

A majority of UK consumers hold retailers primarily responsible for making online transactions safer, and fraud risk remains a top concern for many UK shoppers when making online purchases, according to data released today from CyberSource Ltd., a UK-based subsidiary of CyberSource Corp.