Credit

Alipay.com Co Ltd, China’s largest online payment service provider by transaction volume, has lost two of its major partners in China, according to reports.

GE Capital Retail Finance and Alliance Data Systems Corp. on May 24 each announced extensions to long-term proprietary card programs.

OAK BROOK, Ill.–The Midwest Acquirers Association is forming local chapters to bring together acquiring-industry employers and prospective employees, provide members with payments-industry information, and share tips on selling and promoting payment services.

Google Inc.’s new mobile payment system puts pressure on Isis, the wireless carrier-backed joint venture trying to develop a competing system.

This story was updated from its original version.

The new person-to-person payments company launched by three top banks may not be a PayPal-killer, but experts say the clearXchange venture is a clear threat to the dominant bank-focused payments services.

To capture part of a resurgence in corporate spending as the economy recovers from the recession, Citigroup Inc. on May 25 introduced the Citi Project card, a commercial card enabling organizations to isolate and control spending on specific projects.

Industrial and Commercial Bank of China has launched a dual-currency credit card for use in Singapore and China, the issuer announced May 23.

Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co. on Wednesday announced the launch of clearXchange, a person-to-person payments service that will let their customers send money directly to each other using an email address or mobile phone number.

Pasadena, Calif.-based Wescom Central CU said May 25 its Wescom Resources Group has signed with PayPal to offer Person-to-Person payment services to credit unions.

Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co. plan to debut a person-to-person payments service on Wednesday that lets customers send money to each other with an email address or mobile phone number, the Wall Street Journal reported Tuesday.

For the fourth time this year, Discover Financial Services is using social-media website Facebook to connect cardmembers with contests.

Visa Inc. has launched a travel-themed marketing campaign in the U.S. that includes national television ads, a new Facebook application enabling consumers to chronicle their vacations and a sweepstakes via Facebook in which one participant will receive a $100,000 “trip of a lifetime,” the card brand announced May 23.

Hoping to stimulate fresh interest in one of its relatively newer cobranded products, First National Bank of Omaha on May 24 unveiled enhancements to its Overstock.com MasterCard credit card introduced in September.

Thailand’s Ministry of Finance on May 12 announced its decision to launch a credit card financing initiative that is raising concerns among key players in the country’s banking industry.

RewardsNow Inc. is running a sweepstakes for end users of its online rewards system for banks and credit unions, the loyalty-marketing service provider announced May 23.

As consumers become more comfortable with such technologies as unlocking a car from inside the house to recording movies remotely they are becoming more interested in using mobile phones for payments, survey data from MasterCard Worldwide suggest.

Delay or customers will pay — from new deposit charges to merchant fees.

Heartland Payment Systems Inc. has introduced a service that streamlines payroll data, credit card sales and credit card tip data for restaurateurs at the point of sale, the transaction processor announced May 23.

Square Inc. is expanding beyond mobile card acceptance with a new service that allows consumers to initiate payments through its application.