Credit

Discover Financial Services is going into the new year in a relatively stronger position than it was a year ago, helped by the improving economy and by recent key strategic moves it has made, a new report suggests.

JPMorgan Chase & Co. provided $10 billion in credit to small businesses in 2010, and the bank’s Ink small-business credit cards played a “significant” role, Chase officials tell PaymentsSource.

The Federal Trade Commission is taking legal action against a massive Internet enterprise that allegedly has made millions of dollars by luring consumers into "trial" memberships for government-grant and money-making schemes, then charging various fees to their credit and debit card numbers.



Network International LLC has entered into a strategic partnership with Abraaj Capital, which announced the deal Dec. 22.

HDFC Bank Ltd. and Jet Airways Ltd. have entered into an agreement that enables the bank’s credit cardholders to pay for tickets on installment, the India-based bank announced Dec. 15.

The Bank of the Philippine Islands has selected Hypercom Corp. to provide terminals for its card-payment systems, the Scottsdale, Ariz.-based terminal maker announced Dec. 21.

Vantage Credit Union of St. Louis says it has dramatically improved customer engagement by enabling members to access the Facebook Inc. and Twitter Inc. social-media websites from within online banking. Those who access Facebook and Twitter through its online-banking tool spend twice as much time on the credit union’s website as the users who do not.

Many online merchants in the United Kingdom may experience downtime during the holiday shopping season because their systems used to detect fraud card-not-present fraud may not be reliable or current, new research suggests.

Think Computer Corp. has introduced a digital-coupon system integrated into its mobile-payments application that relies on facial recognition to confirm a user’s identity at the point of sale to help combat payment fraud.

Visa Inc. unveiled its new special offers mobile payment app, placing it in a crowded market for merchant perks that also includes a major push by rival MasterCard Worldwide.

Missouri Attorney General Chris Koster announced this week that his office has reached a consent judgment with Elite Financial Services Inc., a debt settlement company that allegedly misrepresented its services.



Snapper Services Ltd. has become the latest organization to join the new “super ticket” system planned for Auckland, New Zealand’s public transport system, the integrated ticketing provider announced Dec. 16.

As major financial services providers sever ties to WikiLeaks, a little-known alternative payments startup in the U.K. has stood by the embattled organization.

Credit card issuers in the Philippines no longer are allowed to issue pre-approved credit cards, the Bangko Sentral ng Pilipinas ruled via a circular dated Dec. 20. The central bank also directed credit card issuers to inform cardholders seven days in advance before their delinquent accounts are sent to collection.

Major card brands such as American Express Co. support sports sponsorships to keep existing cardholders happy and loyal, but the events they sponsor may spur interest from potential new customers, observers say.

Dead phone batteries. Wrong merchant terminals. Terminals turned off. Terminals unrepaired. No terminals at all.

As credit card portfolio health continues to improve and consumer spending gradually picks up, card issuers are poised to see the first increase in overall credit card receivables next year, Moody’s Investors Service predicts in a Dec. 21 report.

American Express Co. has signed a three-year sponsorship deal with the National Basketball Association, reuniting with the sports organization after a five-year hiatus, AmEx announced Dec. 20.

Indian Bank Ltd. has awarded Tata Consultancy Services Ltd. a contract to assist in a smart card-based financial-inclusion project for India’s rural villages, the Chennai-based financial announced Dec. 16.

As consumers continue to spend more frugally, issuers are stepping up the competition for loyalty programs, where there is still room to develop niches, according to Mintel Comperemedia, which tracks card mailings.