Credit

Danal Inc.'s BilltoMobile is launching a payment service for e-commerce sites to route payments through the phone bills of more than 200 mobile carriers across 60 countries.

In concert with the release of new data indicating 40% of all payment cards and 71% of terminals worldwide now support the EMV standard, EMVCo LLC, the organization managing the EMV specifications, on May 20 released a new guide to help expand adoption of the chip-and-PIN technology.

In another sign that U.S. consumer credit card issuers are beginning to see some new-account growth following the recession, Equifax Inc. on May 20 reported new bankcard accounts in February were up 28% compared with a year earlier.

CHICAGO–Evolving mobile technology is leading payment companies to develop new business models to capture revenue in a market many observers believe soon will offer enormous opportunities, executives said here May 20 during a panel discussion at the Federal Reserve Bank of Chicago’s annual conference.

Minnesota Attorney General Lori Swanson’s office on May 20 sued debt collection giant Encore Capital Group Inc. for allegedly using fraudulent “robo-signed” affidavits in lawsuits against consumers.

U.S. banks and payments companies are attracted to China’s explosive population growth and surging economy, but the country’s regulatory climate makes the market a wild card.

The amount of online payment fraud occurring in the airline-booking industry is dropping, new research suggests.

Forming new partnerships with mobile-payments players is a top priority for Barclaycard, the new head of the issuer’s U.S. mobile business said May 19.

WASHINGTON — Although Senate leaders have confirmed they will allow a floor vote soon on delaying interchange fee restrictions, the timing, outcome and vehicle for suspending the proposed cap are still anyone's guesses.

Australian credit card debt has climbed to a record high, with total outstandings reaching AU$49.3 billion (US$52 billion or 36.8 billion euros) in March, up 4.7% from AU$47.1 billion a year earlier, according to the Reserve Bank of Australia.

The investigation continues into how thieves managed to steal funds from consumers’ debit card accounts by tampering with PIN-pad terminals at 80 outlets of Michaels Stores Inc., but payment-security experts say many merchants’ terminals probably remain exposed to similar sophisticated attacks.

CHICAGO–Traditional U.S. payments players should adjust their industry approach to address evolving consumer preferences that are causing dramatic market changes to occur, an executive from the Federal Reserve Bank of Atlanta told attendees here May 19 during a panel discussion at the Federal Reserve Bank of Chicago’s annual conference.

PayPal Inc. has added the ability for users of Android smartphones to fund their accounts by taking a picture of a paper check.

WASHINGTON – Responding to progress credit unions and banks have made in Congress to delay or derail new interchange caps that are included in the Durbin Amendment to the Dodd-Frank Act, the National Retail Federation is rolling out a major, nationwide, 60-day lobbying, grassroots and media campaign aimed at ensuring that the law goes into effect as scheduled.

VeriFone Systems Inc. is supplying a Turkish gasoline retailer with unattended pay-at-the-pump payment terminals, VeriFone announced May 18.

Mechanics Bank of Richmond, Calif., has chosen fraud-protection product from VSoft Corp., the vendor announced May 18.

WASHINGTON — Although Senate leaders have confirmed they will allow a floor vote soon on delaying interchange fee restrictions, the timing, outcome and vehicle for suspending the proposed cap are still anyone's guesses.

Dramatic reductions in credit card bad-debt and total expenses, plus gains in customer use of private-label cards within its stores driven by a 5% rewards discount launched in October, helped boost fiscal first quarter profitability within Target Corp.’s Credit Card segment.

The Credit Card Accountability, Responsibility and Disclosure Act last year put an end to many consumer credit card practices lawmakers considered unfair, but it had little effect on business-oriented credit cards, most of which continue to skirt the new rules, a new study suggests.

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.