Credit

Only about 7% of the adults in low-income economies are likely to have credit cards, whereas in developing counties almost 50% of adults may have them, new research suggests.

Nebo Djurdjevic figures recent developments affecting the cost of doing business in the U.S. payments industry have opened a door for his software company.

Cross-border spending and a healthier U.S. credit card market helped boost Visa Inc.’s fiscal second-quarter earnings, the card brand announced May 2.

MasterCard Worldwide says it’s gaining U.S. debit card market share, and it’s not being quiet about it. And why not? It’s been stuck hovering between a 20% and 25% share for a very long time.

The payment-protection insurance scandal of the past few years in the United Kingdom generated a number of important industry lessons, particularly the need for better reaction to consumer feedback, quicker attention to fixes recommended by regulators, and a more-focused attention to detail when selling policies, a London-based analyst tells PaymentsSource.

Fleet card provider Wright Express’ execution of a multipronged strategy for revenue growth paid dividends with significant boosts in first-quarter revenues and profit. Investors, however, didn’t seem impressed.

Continued transaction-processing growth and an improved capability to process debit card transactions in the United States helped to boost MasterCard Worldwide’s first quarter earnings.

China UnionPay has extended its overseas credit card emergency cash-assistance service to 20 countries and regions, a spokesperson for the card organization tells PaymentsSource.

China UnionPay and Taishin International Bank Ltd. have signed a memorandum of cooperation to expand acceptance of UnionPay credit and debit cards in Taiwan, the companies announced last week.

A unit of The Bancorp Inc. of Wilmington, Del., is working with PayPal Inc. to offer electronic person-to-person payments through its affinity relationships.

JPMorgan Chase & Co. is working with LivingSocial, a daily-deals provider that competes with Groupon, to provide a credit card that rewards consumers for the money they spend on discounts.

BALTIMORE–Two large merchants here at NACHA’s Payments 2012 conference expressed decidedly negative views toward the U.S. path to EMV chip card adoption.

WASHINGTON–When the Consumer Financial Protection Bureau recently announced it planned to scale back proposed limits on credit card fees, consumer groups and some in the media immediately criticized it.

Malaysia’s CIMB Bank Bhd. has launched an invitation-only credit card targeting high-net-worth individuals to increase its market share in the country’s premium card market.

This article has been updated from its original version.

Twitter and Facebook audiences are tough nuts to crack, but the toughest of all can be found at www.youtube.com.

Australia’s corporate regulator has forced two of the country’s banks to overhaul campaigns designed to get customers to increase their credit card limits.

When most major banks reach the end of the road in their efforts to collect on defaulted credit card accounts, they often sell rights to the soured loans to debt collectors for pennies on the dollar. Those pennies can add up to tens of millions in dollars in revenue for a large card issuer, but American Express Co. and USAA Federal Savings Bank have long left that money on the table.

In the interval before the U.S. broadly adopts the EMV chip card standard or devises more-secure online card-payment technologies, certain vendors are hoping to make some hay.

WASHINGTON–The Consumer Financial Protection Bureau is seeking input for a study that could pave the way for new limits on consumer arbitration clauses.