Credit

MasterCard Inc. said Monday it had hired Sachin Mehra as its corporate treasurer, replacing Andrea Robertson, who is retiring.

Citigroup Inc. announced Monday that it has reached an agreement to sell its Canadian MasterCard business to the Canadian Imperial Bank of Commerce.

Total consumer and small business spending and cash disbursements with Visa cards in the Asia-Pacific region totaled US$1 trillion during the 12 months ended March 31, up 13.2% from US$883.4 billion during the previous year-long period, according to Visa Inc.

MIAMI — Jack Dorsey wants to give the taco trucks of the world an easier way to serve card-carrying consumers. But the founder of the payments software provider Square Inc. has his sights set on big-box retailers as well.

Just two of the 2,100 credit unions with credit card receivables of $1 million or more sold their portfolios during the first three months of this year, according to TRK Advisors, a card-portfolio consulting firm.

Ingenico S.A. anticipates generating 1 billion euros ($1.2 billion) in annual revenue by 2013, the France-based point-of-sale terminal maker announced June 9 during an investor’s presentation.

Mocapay Inc. on June 10 announced a partnership with point-of-sale equipment reseller Postec Inc. that will enable merchants to support both mobile payments and mobile promotions.

Consumer use of credit cards in Macau is on the rise after spending in casinos and on luxury expenses dropped during the worldwide economic slowdown.

The New South Wales Supreme Court has ordered the Australian state’s government to produce copies of ministerial briefing papers and minutes of internal meetings related to a terminated contract tied to the Tcard transport smartcard system, local newspaper Sydney Morning Herald reports.

The Indian city of Bengaluru (formerly Bangalore) soon will roll out its first contactless smart card for shopping and transit use, an official from the Bengaluru Metro Rail Corp. Ltd. tells PaymentsSource.

TD Bank was one of the last top 10 North American financial companies to offer mobile banking, but is hoping to leapfrog the competition by introducing some unusual services.

As attacks against small-business bank accounts rise, an increasingly hot-button topic is who is responsible for the losses.

Visa Inc., a sponsor of the 2010 FIFA World Cup that starts June 11 in South Africa, has launched a digital aspect of its “Go Fans” worldwide marketing campaign. A channel on YouTube.com enables fans to share video of entertaining “goal” calls.

In urging Congress to delete the interchange amendment from the pending bank reform bill credit union executives were put in an unusual position of arguing that an exemption – a so-called carve-out – from the amendment that they have sought in other bills is unworkable and impracticable.

Millions of dollars in ads are being printed and carried over the airwaves by credit unions and banks and their nemeses in the interchange amendment to the bank bill, the nation’s retailing groups, in the biggest credit union lobbying effort in more than a decade.

Citigroup Inc. will be making contactless payment stickers available to customers in select cities this summer, PaymentsSource has learned.

U.S. consumers’ average credit card debt in May fell to its lowest level so far this year, while credit scores held steady, according to new data Credit Karma released June 9.

TaxiEpay, a unit of Australia-based Live Group, has begun deploying more than 3,500 Hypercom Corp. terminals to support a new payment card-acceptance system for taxis in the Australian cities of Sydney and Melbourne, the Scottsdale, Ariz.-based terminal maker announced June 8.

Malaysia’s CIMB Bank Bhd. and telecommunications company Celcom Axiata Bhd. have formed a partnership to speed up how quickly the telco’s customers can pay their mobile bills, according to the Kuala Lumpur-based bank

Motorists in Sharjah, the third-largest emirate of the United Arab Emirates, soon will be able to renew their parking smart cards and pay fines at self-service machines in the city’s malls, a spokesperson for the Sharjah Municipality Transport and Freight Department tells PaymentsSource.