Credit

Bank of America Corp. has agreed to pay $5 million to settle a dispute with San Francisco’s city attorney over the card issuer’s former use of the National Arbitration Forum to settle cardholder disputes, the two sides announced Aug. 23.

A new point-of-sale terminal from Vivotech Inc. capable of accepting Near Field Communication mobile payments and chip-and-PIN transactions could help position U.S. merchants to embrace EMV smart card technology and perhaps save them money on security-standards compliance costs, the vendor believes.

A federal appeals court has sided with a United Kingdom-based payments processor in a long-running patent dispute with Visa Inc. subsidiary CyberSource Corp.

San Francisco's city attorney said Bank of America Corp. agreed to a $5 million settlement of a suit over its use of the National Arbitration Forum to handle credit-card disputes, according to Dow Jones.

American Express Co. has launched a new business credit card that places further emphasis on ad spending.

Underscoring upscale consumers’ continuing appeal to credit card issuers, American Express Co. and Mercedes-Benz USA have joined forces to offer a cobranded card with rewards tied to the luxury car brand’s products, the companies announced Aug. 22.

Independent sales organizations, which sell payment card acceptance to merchants, see a big opportunity in Visa Inc.’s decision to accelerate the switch to EMV chip-and-PIN cards in the United States.

Credit card charge-offs have been plunging since the middle of last year, moving against the tide of an anemic jobs environment but supported by slowing bankruptcies.

If only Bank of America's cuts were the end of it.

Bankcard originations hit a three-year high during the first five months of this year, with almost 15 million new cards issued during that period, new Equifax data show.

A relatively new strategy among India’s credit card issuers to target premium customers and shed risky accounts is working even as card spending has declined in the country month-on-month, data from the country’s central bank suggests.

The U.S. credit card charge-off rate rose slightly in July, but delinquencies fell again to an all-time low as consumers continued to demonstrate discipline in making on-time payments, Moody’s Investors Service said in a report released Aug. 19.

Hearing the “click-click” of a train conductor punching small holes in paper tickets soon will become less apparent on the Long Island Rail Road when conductors begin using a smartphone device to accept card payments on the busy New York rail system.

The screen-card maker Dynamics Inc. is improving its production capabilities through the purchase of a 115,000 square-foot facility in Pittsburgh, Pa.

Citigroup Inc. and Bank of America Corp. closed some of their card customers' accounts this week, citing data breaches at unidentified retailers.

Citigroup Inc. has launched a mobile-rewards application with Best Buy Co. Inc. that enables its cardholders to redeem ThankYou rewards, Citi announced Aug. 18.

Cementing a connection that has helped to spawn a robust array of payment card options, Shell Oil Products US and Citigroup Inc. on Aug. 18 announced the renewal of their long-running credit card-issuing relationship as they prepare to roll out a new rewards program for their cobranded Shell MasterCard.

What's the secret to American Express Co.'s customer satisfaction success?

Credit card customers are the happiest they've been since the financial crisis, thanks in part to a government crackdown on the card industry.

A service that lets consumers make electronic payments to online merchants without disclosing their bank account details is expanding into more financial institutions through a deal with the online banking software vendor Jwaala.