Credit

PNC Financial Services Group Inc. is betting that its Virtual Wallet account, which has always focused on showing consumers how to be better savers, can also teach them to be better spenders.

Capital One Financial Corp. will acquire 20 million card accounts after signing a deal with Kohl’s Corp. to offer store-branded credit cards to new and existing customers of Kohl’s and its subsidiaries, Kohl’s announced in a recent U.S. Securities & Exchange filing.

Small-business owners’ confidence dropped sharply in August amid increasing gloom about the economy, according to new survey data Discover Financial Services released Aug. 30.

AIB Merchant Services Ltd. has launched an initiative that enables consumers to integrate multiple merchant-loyalty cards on one contactless tag.

Since launching the Visa Travel Currency prepaid card in 2003, cardholders at Axis Bank Ltd. have loaded more than US$1 billion into their card accounts, making Axis the first Indian bank to achieve that milestone, according to Visa Inc.

West Jordan, Utah-based Mountain America Credit Union announced a new application for the Apple iPad that will allow its members who own the popular tablet computers to conduct much of their financial business online.

Macy’s Inc.’s launch last week of the new Macy’s American Express card has several perks that improve on earlier versions of the store operator’s cobranded cards, one observer says.

Alliance Data Systems Corp. has signed a multiyear agreement to provide private-label retail credit card services for David’s Bridal Inc. and its subsidiary Priscilla of Boston, encompassing 300 stores nationwide plus e-commerce operations, the Dallas-based company announced Aug. 26.

Discover Financial Services announced Thursday that it will be a title sponsor for college football's Orange Bowl for four years starting in 2011.

Cardtronics said Aug. 26 it has received tenders for $97.6 million of its 9.25% Series A senior subordinated notes and is calling the remainder of the $200 million outstanding of the junk bonds.

Intuit Inc. is enhancing its GoPayment mobile credit and debit card acceptance service with a card reader designed to attach to Apple Inc.’s iPhone.

Independent sales organizations contribute about 35% of Global Payments Inc.’s annual revenue, but the revenue they generate has a lower profit margin for the Atlanta-based payments processor than that of some of its other business, suggests a recent analyst report.

Insurers in South Korea reportedly are at loggerheads with credit card companies over the fees they pay when customers use cards to pay their insurance premiums.

The central banks of six Middle East countries reportedly have come together to ask banks in the region to reduce their credit card interest rates, which they say are unacceptably high.

Gemalto NV’s Secure Transactions unit, which includes banking cards, generated 207.4 million euros (US$253 million) in revenue during the first half of this year, up 1.4% from 204.6 million euros during the same period in 2009, the France-based smart card vendor announced Aug. 26. The unit’s profit from operations totaled 5.6 million euros, down 24.3% from 7.4 million euros.

Six casinos in Idaho, Washington and California have signed up to use Global Payments Inc.’s VIP LightSpeed cash-access service, the Atlanta-based payment processor announced Aug. 26.

Beginning Oct. 31, 2012, issuers, merchants and acquirers in Canada that support the American Express brand will become liable for credit and charge card fraud initiated with magnetic stripe cards that chip-and-PIN technology could have prevented, American Express Co.’s AmEx Canada confirms.

Hypercom Corp. said Wednesday that it is bringing to the United States a version of its end-to-end encryption software that is currently available in Asia.

American Heritage FCU last week introduced technology it said combines the convenience of an ATM with a highly-personal two-way interaction.