Credit

Credit cardholders in the United Kingdom will gain more control over their card accounts in the New Year because of recent changes in industry policy.

Toronto-Dominion Bank is trying something unusual this holiday season. The Canadian bank is encouraging consumers to spend sensibly, and that means swearing off credit card use and shopping with cash instead.

Mobile banking’s of little use as an innovation if apps can’t ensure the identity of the user, creating a lucrative security market in which Tyfone just scored a pair of patents.

China UnionPay has expanded its global reach by making a substantial entry into Vietnam’s payments market in collaboration with Sacombank Ltd., a spokesperson for the Vietnam bank tells PaymentsSource.

Telecommunication firm Tata Indicom, the brand name of Mumbai-based Tata Teleservices Ltd., has signed a mobile-remittance deal with eSSecom Pvt. Ltd., the company announced Dec.15.

The Central Bank of Nigeria earlier this month reportedly granted its approval to allow FirstBank Nigeria PLC to offer mobile-payment services in the East African country.

The FBI has raided a Dallas server farm that housed computers used to launch Internet attacks against PayPal Inc., according to an affidavit posted by TheSmokingGun.com.

Commuters on the Delhi Metro rail network soon will be able to use their credit, debit and dual-function cards to make payments at the stations for various types of services, a spokesperson for the Delhi Metro Rail Corp. tells PaymentsSource.

Oberthur Technologies and MasterCard Worldwide have launched MasterCard M/Chip Advance, a technology designed to enhance card payments by incorporating more cardholder and third-party data into transactions, the two companies announced Dec. 22.

Portfolio Recovery Associates Inc., a Norfolk, Va.-based debt buyer and accounts receivable management company, Monday announced an expansion of its credit facility to $407.5 million from $365 million.

The credit card tax the Malaysian government imposed earlier this year has caused the country’s card base to drop significantly, an official at the country’s central bank tells PaymentsSource.

Credit cardholders in India starting Saturday must enter a passcode whenever they make a transaction by phone under new regulations the country’s central bank announced Dec. 24.

A startup called Maxamum Inc. is trying to break down the credit system’s long-standing Catch 22–consumers generally cannot establish a credit history without having a credit card, but they typically cannot get a credit card without a credit history.

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.