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A test of an open transit payment card along a 14-mile commuter rail line near Philadelphia also will gauge the effectiveness of post-paying for transit rides.

Banks in China face tougher scrutiny of credit card issuance under new China Banking Regulatory Commission regulations to curb misuse in the card market.

Sports-graphics retailer Fathead LLC will use ModaSolutions Corp.’s online eBillme service as an option at checkout, the alternative payment provider announced Feb. 3.

Visa Europe and Monitise PLC have formed a partnership to develop mobile-payment services for Visa’s member financial institutions within Europe, the companies announced Feb. 3.

MasterCard Inc. this morning reported fourth quarter net income of $415 million, up 41.6% from $294 million during the same period the previous year. Net revenues rose 10.8%, to $1.44 billion from $1.3 billion, driven by an 18.7% increase in cross-border volumes and other factors, MasterCard said in its Feb. 3 earnings release.

Payments processor ProPay Inc. is testing a mobile application that enables consumers to pay brick-and-mortar merchants using their smartphones instead of handing over a card.

Most consumers in the United Kingdom have fraud concerns when using their credit or debit card to make purchases over the phone, new research released Jan. 28 suggests.

Commuters on the 14-mile-long rail line connecting Lindenwood, N.J., and Philadelphia would be able to use any contactless-payment card to access trains following a pilot Cubic Corp. announced Feb. 2.

Citing continued growth in international volume and processed transactions globally, Visa Inc. on Feb. 2 reported fiscal first quarter increases in Visa card spending both domestically and internationally.

An estimated 426 different collection agencies and creditors were sued under consumer statutes in the first half of January, up from 392 in the second half of December but down from 510 in the fist half of December, according to data from U.S. district courts.

The number of complaints credit cardholders made to the Reserve Bank of India in 2010 increased by 7.7% from the previous year, the central bank noted in a Feb. 1 report.

Many U.S. consumers continue to shy away from using credit cards, but those that still choose to use them are partial to cards tied to rewards programs, new research suggests.

Despite their exemption from the Federal Reserve Board’s proposed cap on debit card fees, small banks and credit unions are hesitant to spend big money on payments technology until more details are available, according to vendor Jack Henry & Associates Inc.

Payments processing giant First Data reported this morning that debt service incurred from its huge 2007 takeover by Kohlberg Kravis Roberts & Co. continues to create big losses–$1.02 billion for 2010–even as lucrative fees earned from debit interchange are helping stem the red ink.

Unlike some of their peers, Wells Fargo & Co., U.S. Bancorp and PNC Financial Services Group Inc. don't have to devote a hearty portion of their investor presentations these days to discussing mortgage repurchase requests.

In the mobile banking business, a one-size-fits-all approach just doesn't cut it, as Firethorn Holdings LLC found out.

A boost in payments processing and demand for technology outsourcing from banks helped Jack Henry & Associates Inc. raise its fiscal second-quarter revenue by 15% from a year earlier to $242.6 million.

The Consumer Law Group, a multi-state law firm that specializes in debt management and debt settlement, is suing the Florida Attorney General's office, claiming it does not have the authority to investigate its business practices because "the practice of law does not constitute 'trade or commerce' as defined by the Florida Deceptive and Unfair Trade Practices Act."

SafetyPay Inc. will provide JetPay LLC with a worldwide payment platform that provides additional value and access to a suite of alternative payment options, Coy Lynch, JetPay vice president, noted in Feb. 1 press release announcing the companies’ partnership.

Some large banks are starting to ease underwriting standards on U.S. consumer credit card applications, according to survey data the Federal Reserve Board released Jan. 31.