Credit

The alternative payment provider Dwolla has launched a credit-based instant payments capability, built on partnerships with banks and credit unions.

The coveted "Millennial" generation of consumers ages 18 to 34 is central to the success of any new payments technology – but this group also has a wide range of financial goals that make it hard to target with a one-size-fits-all product.

Although its third quarter net income dropped 7% year-over-year, Discover Financial Services remains confident in the opportunities it has invested in for the future.

Wonga, a London-based provider of short-term loans, has purchased BillPay, a Berlin-based online payment and financing platform.

American Express Co., the biggest credit-card issuer by purchases, posted a third-quarter profit that beat analysts’ estimates as customer spending climbed.

Capital One and General Motors are extending their co-branded card partnership with the introduction of a new GM MasterCard from Capital One.

eBay's $800 million purchase of Braintree is the latest in a series of acquisitions that are steadily building PayPal into a powerhouse in mobile payments. Most of these acquisitions took place within the past two years.

American Express plans to sell a 50% stake in its business-travel division in a bid to expand the operation.

PayPal has launched PayPal Working Capital, a credit offering that merchants can apply for based on their PayPal transaction history instead of their credit history.

Just hours after agreeing to pay $910 million in regulatory fines related to the London Whale trading scandal, JPMorgan Chase agreed Thursday to repay $309 million in restitution to customers harmed by its credit card practices as well as face an additional $80 million more in civil money penalties.

Consumers tend to use debit cards more often than credit cards for "day-to-day" purchases such as groceries, gasoline and drug-store items, and turn to credit cards for higher-ticket items such as appliances, the study says.

TD Bank Group acquired half of CIBC's Aerogold card portfolio mainly to provide more card services for its customers and solidify its position as the top issuer in Canada, TD Bank CEO Ed Clark told investors Sept. 16 during a conference call.

The latest revelations about the National Security Agency confirmed what many in the payments industry had long suspected: the agency is watching electronic transactions along with communications.

Canadian Imperial Bank of Commerce agreed to sell about half its Aerogold Visa credit-card portfolio to Toronto-Dominion Bank, which is preparing to start its own Aeroplan rewards card in January.

Time Inc., the largest magazine publisher in the U.S., is in advanced talks to buy American Express Co.’s publishing arm, including titles such as Food & Wine and Travel + Leisure, according to an executive with direct knowledge of the plans.

U.S. District Judge John Gleeson has an opportunity this week to put an end to an antitrust complaint against Visa Inc. and MasterCard Inc. that dates back to 2005. But the courtroom battle may continue past the Sept. 12 fairness hearing.

Citi has completed its purchase of electronics retail giant Best Buy's U.S. credit card portfolio from Capital One.

Card marketing and production company Arroweye believes issuers are sitting on a ton of user data that can be used to quickly distribute personalized cards that carry pinpoint marketing messages.

Seven card-issuing banks can sue Heartland Payment Systems Inc. for negligence stemming from the processor’s 2008 data breach, the 5th U.S. Circuit Court of Appeals ruled this week.

Citibank has agreed to pay $55,000 to settle a complaint by the Connecticut attorney general that the bank was aware of a security flaw in its online banking service that resulted in hackers obtaining payment card data and stealing about $2.7 million.