Credit

EBay Inc.’s payment unit, which includes PayPal Inc. and Bill Me Later, continues to gain momentum as it expands its offerings into mobile and contactless payments.

Bank of Lincoln County has selected ACH Federal to provide Web-based and customized automated clearinghouse processing services, according to the Chattanooga, Tenn.-based electronic payments provider.

CashEdge Inc. hopes to help its client banks reach a wider audience through its Popmoney electronic payment service by making it possible to get cash payments.

Consumers are still seeking to reduce their discretionary spending, including purchases they would normally put on their credit cards, according to a survey Citigroup Inc. is expected to publish Thursday.

Jack Henry & Associates Inc. said Tuesday that eight credit unions have agreed to use its banking software platform.

Lending Club Corp. is lowering its person-to-person loan rate to better compete with credit cards.

After experiencing success with a similar initiative supported by MasterCard Worldwide, Online Resources Corp.’s efforts to encourage payment card acceptance by utilities is beginning to receive the backing of other card brands.

Mitsubishi UFJ Nicos Co. Ltd. has launched three versions of a new JCB-branded credit card as part of a strategy to secure more cardholders in Japan, according to the credit card unit of Mitsubishi UFJ Financial Group.

Dynamic Card Solutions’ mobile-payments personalization platform has begun supporting Tyfone Inc.’s SideTap microSD memory card for contactless payments, the Englewood, Colo.-based provider of instant card-issuing technology reported on Oct. 19.

Online Resources Corp. has launched a program to offer utility companies a lower-cost card-acceptance option when their customers pay their bills with a Visa-branded card, the financial-services provider reported Oct. 5.

Point-of-sale terminals five years from now may not look much different from today’s devices, but big changes are anticipated for the software running on them, new research suggests.

Sri Lanka President Mahinda Rajapaksa on Oct. 18 reportedly directed authorities to proceed with the transfer of all assets, real estate and properties of the now-defunct Golden Key Credit Card Co. to a new entity called the Golden Key Credit Card Co. Special Purpose Vehicle Pvt. Ltd.

The Federal Reserve Board on Oct. 19 announced a proposed rule to clarify certain aspects of Credit Card Accountability, Responsibility and Disclosure Act that went into effect earlier this year.

Citing an increase in card spending and a declining rate of account defaults, Capital One Financial Corp. on Oct. 19 reported net income of $631 million for its credit card segment for the third quarter ended Sept. 30, up 116.1% from $292 million a year earlier.

The association representing independent Little Caesars franchisees has endorsed Heartland Payment Systems Inc. for payroll and transaction-processing services.

Bank of America Corp.’s Global Card Services unit on Oct. 19 reported a net loss of $9.87 billion for the third quarter ended Sept. 30; the issuer reported a $955 million loss during the same period last year. This past quarter’s loss includes a $10.4 billion goodwill-impairment charge that did not exist in 2009’s third quarter.

In rewriting Huntington Bancshares Inc.'s mobile and online banking strategy, Jeff Dennes faces a challenge he didn't have at USAA Federal Savings Bank: a large branch network.

Driven lower by heavy charge-offs and increased frugality among consumers, inflation-adjusted household debt, including borrowing on credit cards, has fallen about 5.6% from a peak in the fourth quarter of 2008, to a nominal $13.4 trillion in the second quarter this year.

Five of the nation’s largest credit card issuers reported improvements in September charge-off rates on outstanding receivables, prompting Moody’s Investors Service to suggest in an Oct. 18 report that August’s uptick in charge-off rates was a blip, not the reversal of an overall trend of improving charge-off rates.

Mitek Systems Inc. is debuting a mobile application that enables consumers to pay their bills using images of the bills captured with their smartphones.