Credit

In what some analysts view as a somewhat inefficient move to expand financing options to new advertisers, Google Inc. is rolling out a limited-use cobranded MasterCard targeting small-business owners.

Bolstered by a resurgence in consumer spending and improving credit quality, American Express Co. on July 21 reported higher second-quarter income and revenues–and a steep increase in its marketing and rewards-program costs.

As the hype for widespread Near Field Communication-enabled mobile payments continues to heat up, eBay Inc.’s CEO doused some cold water on the concept, suggesting instead that large merchants will resist the unproven technology.

Reflecting continued growth in all three of the company’s business specialties, including private-label card services, Alliance Data Systems Corp. on July 21 reported double-digit increases in both second-quarter revenue and profit.

Preventing a damaged reputation, more so than cost, is what drives online merchants to improve their data security and comply with industry standards. And more merchants are starting to use third parties to store their payments data to improve security and protect their reputations, new research suggests.

Riding the credit card industry’s wave of better results caused by the improving economy and fewer account defaults, American Express Co. on July 20 said second-quarter net income for its U.S. card Services unit rose 28.9%, to $665 million from $516 million during the same period a year ago.

A federal judge on July 20 approved a settlement between the U.S. Department of Justice and Visa Inc. and MasterCard Worldwide that bars the two networks from enforcing bylaws preventing merchants steering business to less expensive forms of payment.

Buoyed by a reduction in loan-loss reserves and a modest increase in credit and debit card purchase volume, U.S. Bancorp on July 20 said second-quarter net income for its payments services unit doubled from the same period last year.

Banks are still digesting a full plate of mortgage and other economic woes, but that is not stopping them from adding ambitious technology projects to their diet, if the first of the vendor earnings reports is an indication.

The biggest trend in merchant acquiring this year is a concentration on developing and selling mobile card acceptance to micromerchants, a new report suggests.

Isis, the wireless carrier-led mobile-payments venture, just crossed off a relatively small but integral item on its to-do list in signing Visa Inc., American Express Co. and MasterCard Worldwide to its system.

Pushing to improve the airport experience for travelers and offer more than mileage rewards, JPMorgan Chase & Co.’s Chase Card Services unit and United Airlines on July 19 launched the United MileagePlus Explorer Card.

Boosted by a massive reduction in loan-loss reserves, Bank of America Corp.’s global cards unit produced second-quarter net income of $2 billion, up 142% from $826 million during the same period a year earlier, the company announced July 19.

Isis, the mobile carrier-led mobile payments venture that initially planned to compete against incumbent payment networks, now has formed relationships with them, it announced July 19.

Boosted by a massive reduction in loan-loss reserves, Bank of America Corp.’s global cards unit produced second-quarter net income of $2 billion, up 142% from $826 million a year earlier, the company announced July 19.

American Express Co. wants to get closer to its legion of 2 million friends on Facebook.

Citigroup Inc. plans to issue chip-based credit cards that adhere to the EMV Integrated Circuit Card Specifications later this year.

Union Bank of India Ltd. has signed an agreement with electronic payment services provider ElectraCard Services Pvt. Ltd. to set up an online payment gateway to help strengthen its presence in electronic payments.

Continuing efforts to get its Serve digital wallet into consumers’ hands, American Express Co. has signed a deal with Sprint Nextel to put the payments application on the Sprint Zone website, where Sprint customers go to manage their mobile-phone accounts, Amex announced July 18.

Trying a new approach to prod consumer interest in contactless payment, U.S. Bancorp is testing a wrist gadget that combines tap-and-pay technology with an emergency medical notification device, the bank announced July 18.