Credit

Because of multiple errors found in many European business’ domestic and cross-border payment data, a migration to a Single Euro Payments Area may prove to be costly as faulty data may accrue fees under the SEPA system, a new research report from Experian Payments suggests.

Heartland Payments Systems Inc. posted a $7.5 million third-quarter profit that reversed a $37.1 million loss a year earlier attributable to a $35.6 million charge to cover costs related to a data breach, but at least one analyst was not impressed.

The average charge-off rate on U.S. consumer credit cards in September fell to an 18-month low after a hiccup in August caused a one-month rate increase, Fitch Ratings reported Nov. 2.

Jack Henry & Associates Inc. and its competitors say there is high interest in offering new consumer technologies such as mobile remote deposit capture and mobile banking in general.

Woolworths Ltd. is partnering with Qantas Airways Ltd. to launch a rewards credit card, the Australia-based retailer announced last week.

BMI Bank on Nov. 1 launched a suite of antifraud and other credit card security features, the Bahrain-based bank noted in a statement.

Jack Henry & Associates reported a 29% surge in revenues for its fiscal first quarter, boosting net income by 21%.

Merchant processor Heartland Payment Systems on Nov. 3 reported total revenue of $499.1 million for the third quarter ended Sept. 30, up 12.8% from $442.6 million during the same period last year. Net income was $7.6 million; the company reported a $37.1 million loss a year earlier attributable to a $35.6 million charge to cover costs related to a data breach (see story).

Fitch Ratings said U.S. credit card defaults slid in September to a two-and-a-half-year low, continuing a downward trend as the economy heals, according to Dow Jones.

More than half a year after the centerpiece protections of a sweeping overhaul of credit card regulation took effect, portfolio yields appear to have stabilized at their highest levels in two decades.

First National Bank of Omaha, which for many years has kept a relatively low profile as one of the nation’s largest privately held credit card issuers, this year is churning with activity from an unprecedented growth streak.

As the global economy continues its uneven recovery, MasterCard Worldwide is aiming to continue driving growth by targeting affluent customers and mainstream audiences in emerging economies around the globe, Ajay Banga, MasterCard’s president and CEO, told analysts Nov. 2 during a conference call to discuss the company’s third-quarter earnings.

MasterCard Inc. on Nov. 2 reported strong third quarter international purchase and transaction volume as the card brand continues its international push with the global expansion of its debit, credit and prepaid cards.

As if the payments industry has not faced enough difficulty with new regulations and the fallout from a poor economy, a new study now links card use to obesity.

The National Cards Group and the Association of Banks in Malaysia have joined in launching an educational campaign informing consumers about the potential consequences of credit card debt.

MasterCard Inc. this morning reported net income of $518 million for the third quarter ended Sept. 30, up 14.6% from $452 million during the same period last year. Net revenues rose 5.1%, to $1.43 billion from $1.36 billion.

Heady growth in the Asia-Pacific, Europe and Latin America made for a strong third quarter for France-based point-of-sale equipment maker Ingenico S.A.

American Express Co. is sweetening the perks it offers travelers with its new Blue Sky Preferred credit card introduced Nov. 1.

The outcome of Tuesday’s Election Day results could have meaningful implications for the card industry, including affecting the odds of credit card interchange legislation emerging next year, analysts at New York-based equity firm Keefe, Bruyette & Woods said in a report released Monday.

VeriFone Systems Inc. says its PayWare Merchant managed service for large retailers, petroleum marketers and hospitality companies is now available in Europe.