Credit

Federal regulators on June 28 released updated guidance on how banks should guard against cyber-security threats.

Yet another mobile-commerce venture is being formed, and this one could have some staying power, according to an analyst familiar with the deal.

American Express Co. and Facebook Inc. have adapted the issuer’s rewards program to provide a perk no business can do without: advertising.

Mobile-payments startup Square Inc.’s $100 million venture-capital avalanche announced June 29 could mean that the company’s transaction volume is gaining significant momentum despite its lack of profits, one analyst contends.

WASHINGTON -- The Federal Reserve Board on Wednesday suggested raising the debit interchange fee cap to 26 cents per transaction – more than double its initial proposal of 12 cents.

Visa Inc. kicked off a program in Detroit on June 29 desigjned to expand credit availability for small businesses through a partnership with the microlending website Kiva.org.

In a move that could help stave off defection among its multinational customers seeking global commercial card capabilities, U.S. Bancorp on June 28 said its subsidiary Elavon Financial Services Ltd. soon will begin issuing commercial cards in Europe through a new processing agreement it inked with Total System Services Inc., or TSYS.

Citing “shortcomings” with the technology, Australia’s ANZ Banking Group Ltd. has halted development of a microSD iPhone case designed to turn a smartphone into a payment device.

The United Kingdom’s Office of Fair Trading wants the region’s passenger-travel companies to alter what it deems misleading debit and credit card surcharging practices.

Lenders’ tighter credit card underwriting rules to control risk during the recession put pressure on consumers seeking new credit lines, but the restrictions also are driving criminals who prey on new accounts to find new hunting grounds.

In an exclusive deal for MasterCard Worldwide, Indigo Books & Music Inc.’s plans to deploy terminals that accept the card brand’s PayPass contactless payments in all its stores marks the first such development for a retailer of its kind.

Card companies have used celebrities and fun characters in their brand advertising for years to hawk their products as spokespeople, but integrating the celebrity brand into a card product may be better strategically for card-program success, one observer contends.

Mobile payments in India received a major boost on June 27 when Nokia India Pvt. Ltd., the Indian arm of the Finnish mobile handset maker, announced it would offer its Mobile Money service on all Nokia devices.

S1 Corp. and Fundtech Ltd. have not competed directly, but they sold to many of the same customers. As such, their announced merger would substantially boost the power of each company’s sales team as they pursue new markets and deepen existing customer relationships.

Bankcard issuers are likely to face steep challenges in getting credit card spending back on track after the economic downturn, as various economic indicators suggest consumers are more cautious than ever about their card spending, one analyst contends.

Another company has announced a mobile payments and marketing app in what some are calling the Wild West of mobile payments.

JPMorgan Chase & Co. is making it easier for holders of its cobranded Amazon Visa credit card to redeem rewards points for purchases.

A San Francisco-based startup called Card.io is offering software that enables cell-phone cameras to scan credit card information, thus moving ecommerce from the Web to mobile phones and creating a new product for ISOs to sell to merchants.

Small and midsize businesses now have an alternative to traditional card-payment processing channels through a new mobile-payment processing service rolled out earlier this month by Australia’s Commonwealth Bank Ltd.

LIC Cards, a subsidiary of Life Insurance Corp. of India, in July plans to launch a co-branded credit card with Axis Bank Ltd. to help increase market share, a spokesperson from the card issuer tells PaymentsSource.