Credit

SoftBank Telecom Corp. on July 5 began offering the first cloud technology-based transaction-clearing service in Japan, according to the Tokyo-based technology company.

Merchants do not need to retain a full 16-digit card number to resolve a transaction dispute, despite demands from some acquirers and processors, according to Visa Inc.

U.S. consumers’ average credit card debt in June inched up after falling to its lowest level of the year in May, while the average credit score dropped for the first time in 2010, according to new data Credit Karma released July 14.

Businesses of all sizes are increasing their use electronic forms of payment to help improve their cash flow, the results of a recent Aberdeen Group study show.

Union National Bank has launched a promotion in which it is offering 0% interest on all retail purchases for six months to all of its new and existing United Arab Emirates credit card customers, the issuer announced July 12.

Shares of Alliance Data Systems Corp. may be overvalued and could fall if the U.S. economic recovery stalls and the government tightens credit card regulations, according to the business newsweekly Barron's.

With the votes lined up, the Senate is set to vote as early as Thursday on financial regulatory reform. It would then go to President Obama, who is expected to sign the sweeping bill into law soon.

Fremont, Calif.-based Patelco Credit Union has become the first financial institution in the U.S. to launch Mobile Popmoney, which will enable Patelco's members to send an electronic payment directly to another person via an e-mail or text message from their mobile phone.

At least one city facing rising costs and falling revenues is eliminating broad credit card payment acceptance for utilities, underscoring a growing dilemma for many municipalities.

Monitise PLC, a United Kingdom-based provider of mobile banking and payments services, on July 13 announced plans to raise £32.4 million (US$48.6 million or 38.7 million euros) through the sale of company shares and a subscription by Visa Inc. that will raise the card brand’s shareholding interest in the company to 14.4% from 12.6%.

JPMorgan Chase & Co. has launched an Ink small-business card ad campaign that features a small-business owner and Ink card customer from New York. The ad highlights Marlo Scott, the owner of cupcake, wine and beer bar Sweet Revenge, touting the Ink card as being accepted at twice the number of locations as American Express Co. business cards.

Merchants may pay recurring bills using a portion of their payment card settlement funds through PayFast, a service Integrity Payment Systems LLC launched earlier this month.

JPMorgan Chase & Co.’s Chase Card Services on July 12 announced a new cobranded Visa card with Intercontinental Hotels Group, giving new cardholders two free hotel nights with their first purchase and at least one free night annually thereafter.

Halifax Online Bank UK, a division of the Bank of Scotland PLC, last week launched the Halifax Clarity Card, which does not impose a foreign-exchange fee on any purchase transactions or cash withdrawals, the United Kingdom-based online banking company reported July 7.

MOL Global Bhd. has inked a deal with Facebook to enable Asian consumers to purchase virtual goods, such as online games and applications, using the U.S.-based social network, the Malaysia-based online-payments provider announced recently.

First National Bank of Omaha and Veterinary Centers of America Animal Hospitals on July 12 announced a partnership and the launch of the VCA Visa Signature Card with PetCare Rewards.

MasterCard Worldwide and Major League Baseball have teamed up again to support the charity Stand Up to Cancer by posting “Hit It Here” signs in the outfield during the Home Run Derby and the All-Star Game.

Alliance Data Systems Corp.’s private-label credit card portfolio weathered rising charge-offs on an expanding base of receivables over much of the past year, but its performance is beginning to improve along with the economy.

Banks are looking for more data to help them make lending decisions, beyond the simple matter of whether prospective borrowers pay their bills on time.

Some signs suggest a general chill in consumer credit card lending may be thawing as the economy improves. However, the American Bankers Association’s chief economist says issuers are likely to keep a tight rein on credit lines.