Credit

The Reserve Bank of India on June 9 sent a notice to the country’s banks directing them to set a ceiling on the interest rates and on the processing and other charges they apply to small-value loans, including credit cards.

Social-networking website Facebook quickly is becoming the next playground for payment companies.

Similar to their U.S. neighbors across the pond, consumers in the United Kingdom also dislike credit card late and balance-transfer fees. In response, some UK issuers may start enabling cardholders to prepay their fees upfront, new research suggests.

U.S. revolving credit, 98% of which is credit card debt, in May fell 0.9%, to $830.8 billion from a revised total of $838.2 billion in April, according to a Federal Reserve G.19 report on consumer credit released July 8.

A state-backed program to promote the Go Card, a contactless smart card-ticketing system the TransLink Transit Authority operates in South East Queensland, Australia, apparently is failing to meet its goals.

Lawsuits filed in the U.S. against units of HSBC Holdings PLC charge that the lender's credit card payment-protection service defrauds disabled, retired and unemployed consumers, according to Bloomberg News.

Bluepoint Solutions, a provider of remote deposit capture solutions, announced the release of QwikDeposit To Go, a mobile remote deposit capture application.

The allure of mobile payments, which Generator Research, a United Kingdom-based research firm, estimates will grow to an estimated $600 billion worldwide by 2014, has drawn AT&T Inc. into the fray, as have the merchants accepting payments via their phones. The telecommunication giant announced July 7 it will work with Apriva to sell the wireless-payments company’s AprivaPay and AprivaPay Professional mobile-payment services.

Many of Canada’s merchants and financial institutions are on track to meet a key deadline less than three months from now for converting to EMV chip-and-PIN card technology. And that means certain fraudsters likely will begin looking southward for new crime opportunities, experts in payment processing and terminal manufacturing say.

The number of Visa-branded contactless cards in use in the United Kingdom could reach 12 million by the end of the year, Visa Europe predicts.

U.S. consumer confidence declined in June as uncertainty about the economy increased, according to survey data Discover Financial Services released July 7.

Karachi-based Habib Bank Ltd. reportedly plans to buy the credit card portfolio of Citibank Pakistan.

The Islamic banking division of Qatar National Bank has launched Qatar’s first Shariah-compliant platinum credit, the Doha-based bank announced July 6.

Vietnam Eximbank has begun acquiring merchants in Vietnam for acceptance of cards issued by Japan-based JCB International under an agreement the two companies signed last fall, according to JCB.

Nxgen Payment Services, a Whitefish, Mont.-based merchant-service provider for Elavon Global Payment Services, and wholesale roofing distributor ABC Supply Co. Inc., on July 7 announced an expanded merchant-processing relationship in conjunction with ABC Supply’s recent acquisition of Bradco Supply Corp.

Delinquencies on home equity loans and credit cards reportedly declined in the first quarter for the first time since 2008, according to data collected by the American Bankers Association.

MasterCard Inc. announced a free application for Apple Inc.'s iPhone that lets users track special deals offered through the payments network's online shopping portal, MasterCard MarketPlace.

As credit card issuers retool their offerings to cope with new industry regulations and a more-cautious consumer mood following the recession, Barclaycard US hopes to succeed by bucking a few key trends.

An unnamed quick-serve restaurant chain is testing Apple Inc.’s iPad portable computer as a customer-facing ordering and payment device, according to OrderTalk Inc., which makes online ordering systems for restaurants.

More than half of all Delhi Metro riders now use the agency’s prepaid contactless transit smart card, a spokesperson for the Delhi Metro Rail Corp. tells PaymentsSource.