Payments

Citigroup Inc., the world’s biggest credit-card lender, is facing rising costs from the misselling of so-called add-on card products in the U.K. and U.S.

The 2013 Mobile World Congress in Barcelona, produced by the mobile operators group GSMA, was the launching point for many significant payments initiatives.

The rate of credit card payments at least 90 days overdue increased to 0.85% in the fourth quarter from 0.78% a year earlier, according to TransUnion.

AUSTIN, Texas – fisoc, a company that provides the Buzz Points merchant-funded loyalty program that enables credit unions and banks to connect consumers and merchants through social media engagement and rewards, announced four more credit unions and a bank as customers.

Fraud losses on U.S. credit and debit cards, after years of decline, now appear to be on the rise again. And one key culprit, according to experts, is this country's slow adoption of technology that will improve security.

MasterCard Inc. today announced MasterPass, a digital wallet that supports mobile payments at the point of sale and online payments without the need to type a card number each time.

Today’s modern payment systems have their genesis in a number of older ventures that plied everything from the Web to biometrics to enable digital commerce. Some are gone, and some have evolved unrecognizably into their current form. Here’s a look.

After gaining momentum last year for its Payzur person-to-person payment system, Atlanta-based online PIN debit provider Acculynk has gone into a higher gear with transactions routing over the Pulse network.

Seeing an opportunity to mitigate the growing problem of student loan debt, student finance companies such as SimpleTuition and Sallie Mae are expanding debt management offers, including the use of card payment rewards.

The national credit card delinquency rate increased in the fourth quarter compared with both the year-ago period and the previous quarter, according to TransUnion.

The architect of an operation that allegedly distributed illegal robocalls offering credit card interest rate reductions is banned from telemarketing under a settlement with regulators.

Citigroup Inc. has entered an agreement to buy the Best Buy private-label card portfolio, which has about $7 billion in loans, from Capital One Financial Corp. Citi has also agreed to issue and manage new Best Buy-branded cards in the U.S.

The FTC is returning nearly $350,000 to consumers who allegedly were duped by marketers using illegal robocalls to claim they could reduce consumers’ credit card interest rates.

Payment technology is gaining momentum and changing rapidly. More and more places around the world are adopting unique methods of payment.

HSBC Card Services plans to close a collections call center in Chesapeake, Va., resulting in the loss of 164 jobs, according to the Virginia Workforce Network.

A federal grand jury indicted three people on charges of making counterfeit credit and debit cards after seizing more than 90,000 bogus cards.

PORTSMOUTH, N.H. – Service CU has implemented instant card issuance for EMV smart cards for its military members through Datacard’s CardWizard.

NOTRE DAME, Ind. – Notre Dame FCU said its promotion to save members money by transferring their existing credit card loans to a Notre Dame FCU Visa Platinum credit card at 0% for six months and 7.9% thereafter attracted $3.2 million in new loans.

Credit union members pay hefty fees at foreign ATMs, so why aren't CUs making non-members do the same when using credit union ATMs?

Older Americans today are carrying more credit card debt, as will individuals who head toward retirement 30 years from now.