Payments

While credit card debt increased slightly in February to $6,105, the number is still down 15% year-over-year, according to CreditKarma.com's U.S. Credit Score Climate Report released Wednesday.

JPMorgan Chase & Co. took procedural shortcuts and used faulty account records in suing tens of thousands of delinquent credit card borrowers for at least two years, current and former employees say.

The tide continues to shift in favor of the payments industry in the United Kingdom’s battle against card fraud.

Consumer credit jumped $17.8 billion to $2.51 trillion in January, according to the Federal Reserve's G.19 report on consumer credit released Wednesday. Analysts in a Reuters poll expected a $10 billion increase.

Malaysia is proceeding with a government-backed initiative that would let citizens pay for government services using their mobile phones and tablets.

NEW YORK – American Express has overtaken MasterCard to gain second place among credit card brands in the U.S. based on spending at merchants, according to The Nilson Report.

The ways riders can pay–and play–inside New York taxicabs are expanding.

Maybe it’s the Ides of March for the mobile-payments industry.

Younger consumers have the keenest interest in banks’ mobile-payments services, but most adults overall still have cold feet when it comes to paying with their phones.

Credit card portfolio premiums are on the rise as demand begins to increase with improving economic conditions.

For small merchants who want to accept mobile transactions, Apple Inc. makes the go-to machines, the iPad and the iPhone.

The recent explosion of new mobile-payment initiatives, from new startups backed by heavy venture capital to formidable players such as PayPal Inc. is enough to give the average banker heartburn.

Target Corp.’s credit card portfolio may be gaining appeal to potential buyers the longer it remains off the auction block in one very specific respect: credit performance.

RANCHO CUCAMONGA, Calif. – CO-OP Financial Services said it has contracted with Diebold to offer CO-OP ATM Managed Services, a complete ATM fleet implementation and management suite for credit unions.

DES MOINES, Iowa – The Members Group has added instant issuance to the list of features available on its ATIRA- and Coopera-branded reloadable prepaid cards.

Visa Inc. and Intel have struck a strategic agreement to develop mobile commerce services for consumers, the companies announced this week.

FORD CITY, Penn. – Armstrong County FCU has joined the credit union-owned Credit Union 24 ATM and POS network.

Opera Software ASA doesn’t hold back in its pitch to provide more opportunities for mobile payments worldwide.

HDFC Bank Ltd.’s new mobile service could be a game-changer in India’s mobile-payments market, making such services cheaper and more widely accepted.

Bankers generally accept that providing mobile access to financial services is an inevitable part of their future. But when it comes to actually using the devices to communicate with customers about the bank, financial institutions are surprisingly behind the curve.