Payments

American Express Co. reported third-quarter net income of $1.25 billion, up 1% from the same period a year ago, as customer spending grew worldwide.

A TransUnion study found that people who monitor their credit files open significantly more new credit cards and auto loans, and perform about as well on those loans as people who do not monitor their files.

BIRMINGHAM, Ala. – Credit card delinquencies for five major credit card issuers increased in September, according to LowCards.com.

CHICAGO – Groupon is now offering restaurants, bars and cafes its Breadcrumb point-of-sale solution, a move that ties the company closer to merchants.

One year after the implementation of the Durbin Amendment rules and the outlook for CU debit interchange is mixed, with transaction-driving strategies working amid concerns about whether the extra usage is driving sufficient revenue to overcome shrinking per-swipe income.

Analysts have plenty of suggestions for debit strategies post-Durbin.

NEW YORK – Attorneys for five named plaintiffs in the antitrust suit against Visa and MasterCard withdrew from the case Friday after their clients walked away from the landmark deal they helped craft.

Many third-party mobile payment providers, such as Google and Isis, are seeking bank partners for their mobile wallets. Should banks agree to their terms or go it alone?

MasterCard's approach to mobile payments is driven greatly by the series of mobile phone innovations simultaneously occurring around the world, according to the network's group executive for mobile.

If mobile payments can be presented as an opportunity for merchants and point of sale developers, rather than a disruptive threat, the attitude will speed adoption and provide consumers with a better experience, according to Matt Cicciari of Merchant Warehouse.

Any uncertainty in mobile wallet development fuels speculation in an industry anxious to see what shape mobile commerce will ultimately take. In this industry, products that make it even farther than where Isis is today don't always work out.

Many in the industry are starting to catch on to the concept that payments, while a critical foundation for mobile wallets, are taking a back seat to the sexier consumer-facing digital coupons, loyalty programs or targeted promotions through a mobile phone.

The LevelUp mobile payment system, best known for providing free incentives to consumers and free payment processing to merchants, picked up 4,000 merchants and 300,000 end users since its July 2011 inception. But with so much being given away for free, is there a future for the startup once its new clients become regulars?

A Philadelphia company that used telemarketing services to pitch platinum credit cards has settled charges brought by the Federal Trade Commission.

Braintree says its vision for the future of e-commerce received a significant boost when the online and mobile payments provider lured a Google Inc. executive into its fold last month.

BENTONVILLE, Ark. – WalMart yesterday said it is teaming with American Express to offer a prepaid card at WalMart stores.

HAMBURG, N.Y. – Meridia Community CU has joined Credit Union 24 to provide more surcharge-free places where its members can access their money.

MIAMI – Dade County FCU has completed the conversion of its credit card processing to The Members Group.

To drive credit card revenue, the CU can't "set and forget" the card once it's issued, reminds Dan Lozier, director of client relations for TMG, who recommends aggressively pursuing activation and usage strategies, along with good analytics.

RewardsNOW is partnering with Zavee to offer what the companies claim is a new type of merchant-funded program tailored to the needs of community financial institutions and local merchants.