Credit

Healthy growth in consumer credit card spending helped Alliance Data Systems Corp. on Feb. 2 to report significant increases in fourth-quarter revenue and net income.

Buoyed by the improving global economy and strong growth in processed transactions, MasterCard Worldwide on Feb. 2 reported fourth quarter net revenue of $1.73 billion, up 20.1% compared with $1.44 billion the same period a year earlier.

By joining a new anti-phishing coalition this week, Bank of America Corp. is maintaining a leadership position it has held for several years in the battle against cyberthieves who target online and mobile-banking users. But this is one small step and the battle is by no means over.

Recoveries against bad loans have become a major source of cash for credit card issuers, and hence an increasingly important factor in the industry’s return to pre-recession loss rates.

“Feeding coins in the parking meter” may become a phrase associated with days of payments past, especially if PayByPhone Inc. continues to develop a mobile-payment method for consumers using parking spaces.

Consumers yearning to track and analyze their credit card spending to the smallest degree with graphs, comparisons with past months and even with their peers are in luck.

GE Capital's deal to purchase the card assets of Toys "R" Us from JPMorgan Chase & Co.? Get used to it.

MasterCard Worldwide didn’t come right out and say it, but the card brand is encouraging U.S. issuers and merchants to embrace chip-and-PIN technology as part of a migration to the EMV smart card security standard in the next three years.

The video-game industry is amping up its defenses after hackers penetrated numerous payments systems last year.

Identity security and mobile payments are driving merger-and-acquisition activity in the payments industry as large companies strive to keep up with each other and the latest technology.

As preparations unfold for the U.S. payment system to convert to smart cards, merchants across the country would prefer to see a clearer process established to reach that goal.

Last year JPMorgan Chase & Co took New York resident Shady Gergis to court over a few thousand dollars in allegedly unpaid credit card debt.

Targeting Sri Lanka’s business frequent flyers, HSBC Corp. has launched a premium credit card in that country that includes a variety of travel discounts, the issuer announced Jan. 26.

In what could be worrying news for card issuers in Australia, new survey data suggest about 32% of the country’s households last year fell behind financially, which affected their credit card use.

Australia’s hotel industry association is warning consumers of a new credit card scam targeting major hotel chains operating in the country.

Alliance Data Systems Corp. has renewed its agreement to provide private-label credit card services to retailer Reeds Jewelers, the private-label processor announced Jan. 26.

Earlier this month, Citi announced the expansion of its popular "thankyou" program with a new Facebook app. If the number of likes (185,000 and counting) on Citi's page is any indication, it appears Citi has found a compelling way to engage its youngest and most fickle customers in the place they spend most of their digital time.

Discover Financial Services is bracing for a joint enforcement action from the Federal Deposit Insurance Corporation and the Consumer Financial Protection Bureau over the marketing of its credit card payment protection products, the company disclosed in a regulatory filing Jan. 26.

For credit card issuers, determining what on their websites frustrates consumers and what magic combination of factors lead prospects to successfully apply online is a complex science.

Credit card issuers quietly are testing a variety of new fees to help make up for other fee income wiped out last year when the Credit Card Accountability, Responsibility and Disclosure Act went into effect, one analyst contends.