Credit

CreditCall Ltd. is developing a mobile-payment application to enable merchants to accept secure chip-and-PIN transactions on Blackberry and other smart phones, the United Kingdom-based payment processor announced last week.

Capital One Financial Corp. was stung during the second quarter by the loss of overlimit fees as a result of the Credit CARD Act, and the law’s overall effects will continue to “pressure” revenues throughout this year, Richard Fairbank, Cap One CEO, told analysts during a July 22 conference call.

American Express Co. remains cautious about the economy and the current regulatory environment, but the Credit Card Accountability, Responsibility, and Disclosure Act will affect the company more than the financial reform, Dan Henry, AmEx executive vice president and chief financial officer, told analysts during a conference call on July 22 to discuss second quarter earnings.

Discover Financial Services cardholders can now divvy up the rewards they earn, applying them to part of the cost of merchandise bought through its redemption website and paying for the rest with their cards.

The state of Meghalaya in India has set up an online system consumers may use to pay direct taxes, an official from the state’s financial ministry tells PaymentsSource.

Datacard Group, a leading provider of identification and card-personalization services, on July 22 announced the acquisition of long-time partner Datacard South Pacific Pty. Ltd.

Signs of improvements in the credit card industry continued Thursday with American Express Co. and Capital One Financial Corp. reporting significant improvements in delinquencies and charge-offs.

Credit card issuers have eliminated many practices lawmakers deemed unfair as a result of the Credit CARD Act, most of which went into effect in February. But certain other practices that could put consumers at risk are on the rise, according to a study the Pew Health Group’s Safe Credit Cards Project released July 22.

Efforts to grow internationally appear to be paying off for Total System Services Inc., as are indications the economy is improving.

With another strong quarter under its belt, EBay Inc. plans to position its payment unit, made up of PayPal Inc. and Bill Me Later, as a global leader in online payments and to expand its presence across Asia, John Donahoe, eBay president and CEO, told analysts July 21 during a conference call to discuss second-quarter earnings.

SCHAUMBURG, ILL.–Square Inc., a startup company offering mobile point-of-sale payment-acceptance services, is willing to talk to merchant services sales agents and other distributors, but just not yet, according to the company’s CEO.

During a conference call with analysts July 21, Alliance Data Systems Corp.’s top executive reiterated the company’s view that its private-label credit cards serve as loyalty products designed to drive purchases at partnering merchants.

Total System Services Inc. has reached a deal to support Tesco Personal Finance PLC's portfolio of 2.4 million credit cards in the U.K.

American Express Co. is preparing for the future of payments.

Retailer-branded payment cards continue to proliferate worldwide, but the biggest growth opportunities are in Asia and Latin America, where penetration rates remain relatively low, according to a new report from Finaccord Ltd., a London-based financial services research and consulting firm.

Though the financial-reform bill President Obama signed into law this morning has “too many imponderables” to estimate its financial impact, Well Fargo & Co. likely will experience a combined $525 million pretax impact over the next two quarters from the effects of the Credit Card Accountability Responsibility and Disclosure Act and new opt-in requirements for overdraft-protection programs, Howard Atkins, Wells chief financial officer, told analysts during a conference call this morning to discuss second-quarter earnings.

Private-label retail card issuer TD Retail Card Services on July 21 announced the Renovate Card, a store credit card specifically designed for independent home-furnishings retailers.

The government of Oman has taken further steps to enhance access to its e-Governance initiative designed to promote cashless transactions countrywide.

GSM Kazakhstan, also known as Kcell, has become the first mobile operator in Kazakhstan to offer its customers an online system to top up their prepaid mobile-phone accounts, the company announced in a July 20 statement.

WASHINGTON — President Obama signed into law Wednesday a sweeping overhaul of the nation's financial services system in a widely attended ceremony at the Ronald Reagan Building in Washington.