Credit

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.

Citigroup Inc. is reporting total revenues from Citi-branded cards of $4.16 billion for the third quarter ended Sept. 30, up 76.3% from $2.36 billion during the same three months last year. Citi card income from continuing operations totaled $454 million, up considerably from $6 million a year earlier.

Staples Inc. earlier this month began offering its customers the option to deposit certain store rebates into their PayPal accounts, a spokesperson for the Framingham, Mass.-based retailers confirms to PaymentsSource.

Visa Inc. is hoping to harness the power of the 180 million-plus National Football League fans with the latest phase of the card brand’s “Go Fans” marketing campaign.

Companies continue to release mobile point-of-sale acceptance services amid few, if any, signs of the trend abating.

Despite an increase in spending on Visa Inc. cards in both July and September (August saw a decline), card-spending growth dropped during the third quarter as consumers remained cautious about their finances, according to Visa Europe’s UK Expenditure Index released on Oct. 7.

Another Indian state is beginning to enable local consumers to pay utility bills online to make the collection process quicker and smoother.

A shakeout among debt-relief firms is likely as such companies restructure their operations to conform with new Federal Trade Commission rules that take effect this month, experts say.

A lawmaker from the ruling party in South Korea reportedly is calling on representatives of local governments and public firms to stop accepting free overseas trips from credit card firms, calling the widespread practice “unethical” and akin to bribe-taking.