Credit

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.

A new Jack Henry program can speed EMV-chip card migration for card issuers by up to a year — but only for credit cards, since ongoing legal issues hamper the use of EMV for debit cards.

In another move to win over video game devotees, American Express Co. created a League of Legends-branded prepaid card, which could be more fitting than its earlier efforts to appeal to gamers.

Migrating to EMV does not mean card issuers have to do away with their instant-issuance systems.

Wells Fargo & Co. will tie up with American Express Co., the world’s biggest credit card issuer by purchases, to offer cards accepted on American Express’s network of merchants.

Alliance Data Systems Corp. is adding augmented reality technology to the tools it offers to drive the use of retail payment cards.

PayPal's new partnership with Alliance Data spans multiple products at both companies, but it has barely scratched the surface of what the two payments providers say is possible.

PayPal plans to fuel the expansion of its in-store payment system by using services from retail card loyalty and marketing company Alliance Data Systems.

Davis and Henderson's planned $1.2 billion acquisition of Harland Financial Solutions marks the Canadian technology developer's biggest push into the U.S. market and its first foray into payments processing.

Banks face caps on the card fees they can collect on Visa Europe Ltd. and MasterCard Inc. transactions as the European Union seeks to slash charges imposed on retailers by 6 billion euros ($8 billion) a year.

Citigroup is migrating its commercial card business in Turkey to its global platform, as the bank plots additional moves into Russia and other markets.