Payments

Mobile payments provider Fortumo Ltd. landed a major European carrier-billing deal last week, less than a month after revealing a significant partnership with Microsoft for mobile payment development on Windows phones.

The credit card delinquency rate - the ratio of borrowers 90 or more days past due - fell to 0.69% in the first quarter ended March 31 from 0.73% in the year-ago period, according to credit bureau TransUnion.

Wolfe LLC is changing the name of its Wolfe Rewards and Loyalty business to OmniCard, a move designed to reflect the operation's range of offerings.

Visa's hiring of former JPMorgan Chase executive Ryan McInerney to be its new president maintains the card network's bond with the top-tier bank.

IP Commerce Inc., a startup backed by Venrock Inc. and Intel Corp.'s venture-capital arm, is shutting its key business, which handles credit-card processing for companies including Groupon Inc., citing competition.

Phillips 66 has joined the retailer-driven Merchant Customer Exchange mobile payments and commerce initiative, the Houston-based gas station chain announced May 23. Phillips 66 also operates Conoco stations. The company joins MCX only two weeks after the mobile payment venture added another petroleum provider, Pacific Convenience & Fuels LLC.

Blaze Mobile is developing a new Near Field Communication mobile phone attachment that attempts to build a more open mobile wallet by allowing consumers to choose from a series of payment accounts.

ZooZ is one several companies building new technology that attempts to improve the integration between marketing and mobile payments.

ARLINGTON, Va. – NAFCU has issued a statement saying it disagrees with a recent Federal Reserve report’s findings that the exemption for small debit card issuers from interchange fee standards is working as designed.

Square announced expansion into Japan with updated Register features today, after seeing two executives, Alyssa Cutright and Alex Petrov, leave the mobile payments company.

Visa has hired Ryan McInerney to be its president. McInerney, previously the chief executive of JPMorgan Chase's consumer bank, fills a position left vacant since John Partridge retired in March. Visa also appointed Elizabeth Buse and Bill Sheedy to new roles.

DES MOINES, Iowa and RANCHO CUCAMONGA, Calif. – Security Service FCU, San Antonio, has partnered with The Members Group (TMG) and CO-OP Financial Services for processing of the $7-billion credit union’s credit card portfolio.

CHICAGO – An analysis by TransUnion found the national credit card delinquency rate declined to .69% during the first quarter of this year, down from .73% last year.

Sprint's Boost Mobile prepaid phone service developed a mobile wallet as a way to provide financial services for its underbanked target audience.

EBay Inc. said PayPal will be available in 2 million retail stores this year as it takes on Square Inc. and Intuit Inc. in the market for mobile payments.

Google and Square have entered the notoriously challenging person-to-person payment field, sidestepping one of the major hurdles other companies have faced: signing up new users.

Swipely has secured a $12 million Series B round of financing, which will fund its nationwide expansion, the payments and marketing company announced today.

The rate of credit card payments at least 90 days overdue fell to 0.69% in the first quarter ended March 31 from 0.85% in the year-ago period, a nearly 19% drop, according to credit reporting agency TransUnion.

CARPENTERIA, Calif. – All general purpose credit, debit, and prepaid cards issued in the U.S. (both consumer and commercial) generated $4.202 trillion in purchase volume at merchants in 2012, up 7.8% over 2011, according to new data released by The Nilson Report.

MasterCard is part of a joint venture that will launch the Zuum mobile payments service this month. The venture is touting Zuum as the first service of its kind in Brazil.