Credit

Count the merchant acquirer First American Payment Systems LP among the U.S. payment processors looking abroad for growth.

HSBC Holdings PLC has tentatively agreed to settle claims that it illegally colluded with other banks to require credit-card holders to arbitrate disputes, including debt collections, according to cardholders' lawyers, reports Bloomberg News.

For Hans Morris, now's a prime time for private-equity investment in financial services — though not necessarily in banks, or in the U.S.

Connecticut Attorney General Richard Blumenthal is urging the Federal Reserve Board to return credit card interest rates and fees to year-ago levels after banks raised them in response to new federal rules and surging credit costs, reports Dow Jones.

Delinquencies on U.S. prime credit cards reached record levels in December, and charge-offs began marching back toward the high set in September, according to new data Fitch Group’s Fitch Ratings released Jan. 5.

Spain-based financial institution Grupo Santander announced Tuesday it will offer free use of 4,300 ATMs in Spain to consumers from the United Kingdom. The offer will begin on Monday, the financial institution says in a statement.

Malayan Banking Bhd, or Maybank, in Malaysia will allow its customers in Singapore to use their ATM cards to pay credit card bills at AXS kiosks in Singapore, according to a bank spokesperson. Those customers also can pay their phone and other utility bills and reload their EZ-Link contactless fare cards for public transit.

At least 2,500 credit card customers of Mashreq Bank have used the Dubai-based institution’s debt-counseling service, Mashreq Assist, since its launch in September, the financial institution says in a statement.

International payment services company Global Collect announced today that it has joined the PCI Security Standards Council as a participating organization that will help develop the data protection standards.

Mophie, a Paw Paw, Mich.-based provider of technology accessory products such as smartphone batteries, later this week expects to reveal an external card reader and an application that manages transactions for Apple Inc.’s iPhone at the International Consumer Electronics Show in Las Vegas.

Banks are taking a tag-team approach to attract customers in the increasingly automated health care market, bundling commercial lending services with payments, technology management and other services.

John A. Ward 3rd, a veteran of the card and banking industries, has rejoined the board of Innovative Card Technologies Inc.

BluePay has developed a processing product designed to help nonprofit organizations increase funding and decrease expenses by enabling consumers to set up reoccurring donations, according to the company.

VeriFone Holdings Inc. today announced it has acquired the Taxi Media business from Clear Channel Outdoor Inc., a division of Clear Channel Communications Inc. The deal expands VeriFone’s taxi sales staff to about 30 workers from a “handful” previously, a VeriFone spokesperson tells PaymentsSource.

Historically rivals, alternative payment providers and banks are laying down their swords.

American Express Co.’s focus on providing products and services to the small-business segment through its new AcceptPay product is “a savvy move”, according to Ed Kountz, senior analyst, e-business and channel strategy, at Javelin Strategy & Research. AmEx recently launched the online invoicing product and a corresponding advertising campaign to promote it (see story)

Anyone who has seen advertisements from Visa Inc.'s "Currency of Progress" campaign can't help noticing a stark contrast in its corporate message.

American Express Co. has begun enabling its cardholders to transfer Membership Rewards points to British Airways, the 17th airline to become a points-transfer partner, the company says. Other airlines include JetBlue Airways and Delta Air Lines.

While the economy had stunted credit card direct mailings in the past year, mailings will pick up again after the Credit Card Accountability Responsibility and Disclosure Act of 2009 goes into effect in February, experts say.

Hoping to tap an emerging market, Visa Inc., MasterCard Worldwide and American Express Co. have been working to open their networks to third-party developers of software and smartphone applications.