Credit

VeriFone Systems Inc. is making more investments to expand beyond just building payment terminals.

WASHINGTON – U.S. Public Interest Group, the leading consumer lobby on Capitol Hill, called on lawmakers to reject efforts to delay implementation of the cuts in debit fees, saying the issue has been studied long enough and the cuts will help consumers.

PayPal Inc. is ending its relationship with a unit of the Chinese e-commerce giant Alibaba Group Ltd., the eBay Inc. subsidiary said June 3 in a blog post.

The freeze in consumer credit showed another major crack in the first quarter.

Credit unions around the country are blocking thousands of debit cards as they struggle to contain the latest nationwide data breach at Michaels Stores.

Merchants that want to accept payments from Google Inc.’s mobile wallet must go through a few more steps than simply enabling customers to “tap and pay.”

To lure new small-business credit card customers, JPMorgan Chase & Co. on June 1 introduced Jot, a mobile feature enabling customers with its Ink-branded small-business credit card to track expenses as they occur for easier recordkeeping.

PayPal Inc. said it is providing online payment processing in Brazil and Mexico through a partnership with Digital River Inc.

The Australian government will fine banks that make any offers to existing cardholders to raise their credit card limits under legislation parliamentary lawmakers signed into law in late March that takes effect in July.

BMI Bank Ltd. has signed an agreement with bank-technology vendor Sinnad Co Ltd for the delivery of chip-based Diners Club credit cards, the Bahrain-based bank announced May 31. Terms were not disclosed.

Credit card issuers and other lenders’ attention to alternative credit-scoring data–information not provided by the three major bureaus–has intensified after the financial crisis spotlighted what some have called an over-reliance on traditional credit scores. A few are finally going the extra step and openly using this data.

Bank of America Corp. is working to recover from two data breaches allegedly perpetrated by insiders.

Michaels Stores Inc.’s potential losses from the debit PIN-pad breach that surfaced in early May continue to mount, as lawyers representing affected customers on May 26 filed another class-action lawsuit seeking damages. The retailer also warned shareholders in a regulatory filing that it cannot estimate its losses related to the incident.

More U.S. issuers are committing to issuing EMV cards, commonly called chip-and-PIN for their primary security feature — but if you listen closely, you can hear the PIN drop.

Visa Inc. announced May 27 its title sponsorship of the Visa Federation Internationale de Volleyball Beach Volleyball International tournament, which will take place Aug. 9 to 14 at the Horse Guard Parade in London.

The Federal Trade Commission has settled two actions that charged marketers with claiming they could reduce consumers’ credit card interest rates. Both operations allegedly made deceptive telemarketing calls, called consumers on the Do-Not-Call Registry, and used illegal robocalls. The settlements will ban all of the defendants from selling debt relief services.

American Express Co.’s top executive on June 1 poked proverbial holes in Google Inc.’s new mobile wallet, arguing in favor of a competing payments system his company is testing.

Silicon Valley Bank has joined the small number of U.S. banks that offer U.S. residents EMV chip cards, more commonly issued overseas.

Mobile-banking customers are three times more likely to use mobile payments than are consumers generally, new research shows.

Mobile-banking customers are three times more likely to use mobile payments than are consumers generally, new research shows.