Credit

To garner a bigger share of the country’s lucrative payroll card market, India’s IDBI Bank Ltd. has begun offering a debit card that provides a line of credit when cardholders overdraw their account, the issuer announced Aug. 8.

To address the escalating competition for commercial card customers, Citigroup Inc. has enhanced the features of its one-time-use “virtual” cards and has pushed the product into two new international markets.

Thieves made off with personal information of 92,408 Citigroup Inc. credit card customers in Japan and sold the data to third parties, Citi said Friday according to Dow Jones. It's the second data theft for Citi in three months and the latest sign of how vulnerable banks and their customers are in a world of high-tech banditry.

Bangladesh is opening the door to accommodate more international electronic funds transfers and payments under a central bank move to allow the payment of fees for studies abroad using credit cards issued in the country.

A resurgence in demand for online-billing services is helping fuel growth at Online Resources Corp., which is in the midst of restructuring its business.

Consumer bankcard and private-label credit card account defaults declined again in May, reaching lows not seen in more than two years as the economy continues to stabilize, according to new data from Fitch Inc.

The recession continues to have a firm grip on U.S. credit cardholders as fewer Baby Boomers own premium cards and consumers of all ages are more likely to carry decreased balances or no balances at all, a new survey report indicates.

Visa scored a significant win in the battle for affluent credit cardholders in its recent deal to become the exclusive brand for all new cobranded credit cards for United Continental Holdings Inc., the airline born from the merger of United Airlines and Continental Airlines, analysts say.

Online Resources Corp.'s second-quarter revenue grew 5.4% year-over-year, to $38.3 million, from higher sales of e-commerce services.

Consumers filed an estimated 524 consumer statute lawsuits in the first half of July, down from 567 in the second half of June.

Chris Olson doesn't count himself among EMV's detractors or evangelists. "It's a lot like Beta or VHS, you don't really know how it's going to turn out," says Fremont Bank's COO on the question of whether EMV cards (debit or credit cards embedded with a computer chip that meets the standard named for creators Europay, MasterCard and Visa), magnetic stripe cards or some other kind of point-of-sale plastic will dominate the U.S. card market in the future.

FICO, provider of the ubiquitous credit scores, on Wednesday said fiscal third quarter net increased almost 30% to $23.2 million, despite a 3% drop in revenues.

A possible tie-up between bank technology vendors Fidelity National Information Services Inc., or FIS, and Misys PLC has fallen through after the companies failed to agree on price.

Though First Data Corp.’s second-quarter earnings show losses tied to debt service from a 2007 takeover by private equity firm Kohlberg Kravis Roberts & Co., company executives pointed to positive revenue numbers and strong liquidity during an Aug. 3 conference call with analysts.

Visa Inc. fired the first shot in the post-Durbin pricing war, but MasterCard Worldwide is not ready to pull the trigger, at least not yet.

In another attempt to tap the growing travel segment in India, HDFC Bank Ltd. on Aug. 1 launched a new range of travel-themed credit cards.

Touting heavier consumer and commercial card-spending as the economy gradually improves, MasterCard Worldwide on Aug. 3 said its second-quarter purchase volume showed healthy increases in all worldwide regions, with its biggest gains in Latin America, Asia, the Middle East and Africa.

Growth in payment-processing business in North America and continued success with its MasterCard corporate card program helped generate a 54.6% increase in second-quarter revenue for fleet card provider Wright Express Corp.

Increases in debit-network fees and favorable changes in foreign currency fueled a 5.4% increase in second-quarter revenue for First Data Corp., to $2.75 billion from $2.61 billion a year ago, the company reported Aug. 3.

Higher spending on its credit and debit cards boosted MasterCard Inc.’s second-quarter net revenue by 21.4% from a year earlier.