Credit

India’s banking regulator has extended to Feb. 1 the deadline it had set for banks in the country to add a second layer of security to credit card transactions conducted over mobile phones.

Taiwan on Jan. 1 began taking initial steps toward creating an integrated transit-payment system by introducing multicard readers on Taipei’s bus network, according to the Ministry of Transportation and Communications.

Cash-back rewards programs for credit card users are effective and relatively affordable tools to enable issuers to increase their market share at competitors’ expense, the results of recent study from the Federal Reserve Bank of Chicago suggest.

United Bank Card Inc. is making its Harbortouch point-of-sale system available for free to merchants that continue to use the company to process their payment card transactions, the Hampton, N.J.-based independent sales organization announced Jan. 3.

Discover Financial Services has completed its $600 million acquisition of Student Loan Corp., which included $4.2 billion of private student loans and other assets, the Riverwoods, Ill.-based credit card issuer announced Jan. 3.

Fifth Third Processing Solutions LLC has signed credit card processing agreements with Education First Credit Union and USA One Credit Union, the Cincinnati-based company announced Jan. 3.

A third airline in Australia has decided to increase the surcharge it levies on credit card bookings, attracting the ire of consumer groups in the country.

Global Payments Inc. plans to start a credit and debit card processing service in Brazil this year to compete in the $250 billion market, the Valor Economico newspaper reported Tuesday.

Credit card issuers were expected to raise fees and cut rewards to compensate for lost revenue from new regulations. But some have done the opposite, eliminating fees they are still permitted to charge.

Total System Services Inc., or TSYS, has moved quicker than it originally anticipated in acquiring First National Bank of Omaha’s stake in First National Merchant Solutions LLC.

During the just-completed holiday season, PayPal Inc. experienced a surge in consumers making purchases using its online payment service with their smartphones and other mobile devices, according to the San Jose, Calif.-based company.

Hoping to tap an emerging market, Visa Inc., MasterCard Worldwide and American Express Co. have been working to open their networks to third-party developers of software and smartphone applications.

Banks in the United Arab Emirates have begun to increase credit card fees, and some are introducing charges for services that previously were free.

India’s Seed Financial Services Pvt. Ltd. has secured yet another a contract from Chennai-based Indian Bank Ltd. to support a smart card-based financial-inclusion project, the New Delhi-based financial-services provider announced Dec. 29.

Citibank NA on Jan. 4 announced the launch of a line of credit cards designed to enable consumers to earn more benefits within Citi’s ThankYou rewards program.

JPMorgan Chase & Co. has paid Pier 1 Imports Inc. $28.3 million as part of a deal to retool the companies’ private-label credit card agreement.

Public Savings Bank is issuing a new secured credit card with a $200 minimum credit limit. The limit replaces a $300 minimum that the Huntington Valley, Pa.-based Internet bank required for a previous card.

Western Union Co. plans to acquire one of its European funds-transfer agents, the Englewood, Colo.-based company announced Jan. 3.

Fiserv Inc. has hired a former H&R Block Inc. official as an executive vice president and its chief operating officer.

Company profits in the payment card industry generally are on track to increase in 2011 if credit and debit card purchase volume continues its post-recession growth. But the fortunes of the four largest card networks may vary significantly in 2011, a new report suggests.