Credit

U.S. credit card delinquency rates, riding at their lowest levels in 17 years, likely will decline further next year as consumers continue to make on-time payments and maintain relatively low account balances, according to a new forecast TransUnion LLC released Dec. 7.

Getting businesses to adopt electronic payments has been frustrating for banks, which still face high use of paper checks and exceptions.

WASHINGTON–The Consumer Financial Protection Bureau on Dec.. 7 unveiled a prototype for a simplified credit card agreement, the latest in a series of initiatives aimed at improving financial disclosures.

The affluent-consumer market has been a hotbed of card-marketing activity as more issuers seek to acquire the most-lucrative and lowest-risk customers. Perennial powerhouse American Express Co. is responding to the heightened competition for its traditionally targeted audience with an ad campaign that highlights the benefits of being an Amex cardholder.

Phishing is old news, which is part of why it is so dangerous today.

The trend of U.S. credit cardholders putting credit card payments ahead of mortgage payments that began in early 2008 shows no sign of abating in the immediate future even as the economy gradually improves, a team of TransUnion LLC analysts contends.

The battle between insurance firms and credit card networks in South Korea has intensified as both sides refuse to back down from their respective positions on the issue of card-related fees, opening the door to potential regulatory intervention.

Western Union Co. has launched its Small Business Payments service, the company announced Dec. 6.

In a departure from the regular approach toward card-unit acquisitions in India, Standard Chartered Bank India Pvt. Ltd. plans to buy just half of Barclays Bank India Pvt. Ltd.’s beleaguered card portfolio.

Only two credit unions sold their credit card portfolios in the third quarter, recently released data show.

Contactless card issuance continues to grow, creating an opportunity for providers of sleeves designed to protect such cards to prosper. But the need for such a security measure may be low, one analyst contends.

Citigroup Inc.’s lucrative partnership with American Airlines is widely expected to weather the carrier’s bankruptcy process.

Payment card-based merchant-funded incentives are saturating the market, leading observers to predict market consolidation among service providers could occur soon.

PhoneFactor Inc. has added a smartphone application to its suite of out-of-band security products, the company announced Dec. 5. But its effectiveness will depend on user participation, one observer contends.

More banks and credit unions are considering getting back into credit card issuing after selling their portfolios over the past four to seven years, but their reasons for doing so vary, notes Tim Kolk, owner of TRK Advisors, a Peterborough, N.H.-based provider of portfolio-consulting services.

Tucson (Ariz.) Old Pueblo Credit Union has signed a credit card processing deal with PSCU Financial Services to facilitate its re-entry into the cards market, one of dozens of credit unions reversing earlier exits from the cards business.

Toronto-Dominion Bank has completed an acquisition deal with MBNA Canada.

The average U.S. consumer credit card charge-off rate declined again in October as more consumers met their monthly payment-due dates and the delinquency rate on late payments held steady, according to the latest data from Moody’s Investors Service.

Commuters in Dubai earlier this week became the first in the United Arab Emirates to be able to use one card across public transport systems and for retail purchases at stores, supermarkets and restaurants.

Discover Financial Services is expanding efforts to tie its credit card rewards to social media by enabling gamers to redeem their points for gift cards and online credits.