Credit

Collections & Credit Risk | Monday, January 11, 2010

Large retailers’ efforts to attract more business are adversely affecting transaction fee revenue at Global Payments Inc., the processor said Jan. 7 when announcing its earnings for its fiscal second quarter ended Nov. 30, 2009.

3Delta Systems Inc. has become a participant in a merchant-services referral deal for the 19,000 members of the National Association of Credit Management, Chantilly, Va.-based 3Delta announced last week.

PSCU Financial Services this week reported a record year for debit and credit card transactions processed despite the economy and the turmoil in the nation’s financial markets.

Heartland Payment Systems Inc. and Visa Inc. on Jan. 8 announced they have reached a settlement agreement in which Heartland will pay up to $60 million to Visa Inc. card issuers for damages sustained from the 2008 breach into the payment processor’s network.

Ingenico SA on Jan. 7 joined its peers in the payment terminal-manufacturing industry in offering merchants enhanced data-security support throughout the transaction process.

JCB International, the international subsidiary of JCB Co. Ltd., has signed a deal with China Construction Bank to issue JCB credit cards in China, the Japan-based card firm announced Friday.

VeriFone Holdings Inc. announced yesterday it will deploy its taxi payment terminals in South Africa through an agreement with iMobilise Transportation Systems, according to the San Jose, Calif.-based point-of-sale terminal maker.

Lawmakers are scheduled to review a bill later this month that would set new curbs on credit cards by capping interest rates at 16% and late payments and overdraft fees at $15.

Merchants that have added PayPal Inc. as a payment method have attracted new customers who tend to spend more, according to research from Forrester Research Inc.

The share price of MasterCard Inc. fell Thursday after the company was downgraded.

If the banking industry was looking for clarity on the trend in consumer loan delinquencies, it did not get it Thursday in the latest American Bankers Association data.

PowerPay, a provider of e-commerce and point-of-sale payment-processing products, will offer to its customers a terminal from Transaction Wireless, a mobile-commerce and marketing provider, under an agreement between the companies announced this week.

Five villages will become the first in the Indian state of Tripura to be covered under a biometric banking card initiative overseen by Tripura State Cooperative Bank, a spokesperson for the Agartala-based bank tells PaymentsSource.

DFCC Vardhana Bank has signed a partnership deal with Sampath Bank, another Sri Lankan financial institution, to extend the institutions’ ATM coverage, a DFCC spokesperson tells PaymentsSource.

Merced School Employees Federal Credit Union members now can pay bills using their mobile phones through a recent agreement the Merced, Calif.-based institution made that provides them access to Fiserv Inc.’s Mobile Money service.

Best Buy Co. Inc. has made good on threats it made in July to drop acceptance of Visa Inc.’s contactless payWave cards because of the interchange rates the network applies to them, according to an industry analyst.

Best Buy Co. Inc. has made good on threats it made in July to drop acceptance of Visa Inc.’s contactless payWave cards because of the interchange rates the network applies to them, according to an industry analyst.

British issuer Barclaycard and mobile-network operator Orange UK have launched a cobranded contactless credit card, a product that brings the two firms closer to offering payments via mobile phones.

In the fall of 2008, Al Zezulinski, at NCO Group Inc., would have expected bad-debt sales to have improved more than a year later. "We’re not seeing it,” says the executive vice president at the Horsham, Pa.-based accounts receivable management company.