Payments

U.S. credit card borrowers shed $4.5 billion in debt in June, continuing the pattern of reducing overall outstanding receivables that began in the fall of 2008, according to a Federal Reserve G.19 report on consumer credit released Friday.

BIRMINGHAM, Ala.-To determine how aggressive banks may be at recouping overdraft revenue losses, a glance at their reaction to the CARD Act sheds some insight, suggests one expert.

SILVER SPRING, Md.-According to the National Foundation for Credit Counseling's (NFCC) July online poll, 26% of consumers intend to opt in to overdraft protection-in spite of being charged a fee for the service.

RANCHO CUCAMONGA, Calif.-Better use of data already available can boost card penetration and usage, one analyst is stressing.

CLEARWATER, Fla.-To increase card penetration, credit unions must first make sure that they are retaining existing cardholders.

CHICAGO-Offering both credit and debit cards goes a long way toward members seeing greater value in the credit union.

SALT LAKE CITY-Discover Financial Services conducted a study that the firm says demonstrates the importance of offering a credit and debit card program. Among the findings ...

LAKE BLUFF, Ill.-A recent poll conducted by the National Foundation for Credit Counseling suggests more than 26% of Americans will opt-in to overdraft protection, but Mike Moebs believes the total will be more than 75% before year's end.

CHICAGO-Discover Financial Services plans to introduce a new quarterly survey offering insights into credit union members' spending habits and confidence levels.

SAN RAFAEL, Calif.-A decline in interest rates being paid on consumer deposits during July is being attributed by many analysts to a Reg E deadline that is nearly here.

DES MOINES, Iowa-It's time to leverage the pricing advantage credit cards offer.

DALLAS, Texas-Credit unions have a prime opportunity to make inroads in card services, thanks to new federal regulations.

The mobile banking and payments company ClairMail Inc. said it had strong revenue growth in the second quarter.

PayPal Inc. has updated its mobile payment application for Android phones.

ILoveVelvet, a New York-based payment-technology company, says its new Velvet Suite products can enable merchants to use Apple Inc.’s iPhone and iPad devices as retail point-of-sale terminals.

Credit card issuers have eliminated many practices lawmakers deemed unfair as a result of the Credit CARD Act, most of which went into effect in February. But certain other practices that could put consumers at risk are on the rise, according to a study the Pew Health Group’s Safe Credit Cards Project released last month.

USAA Federal Savings Bank is shifting mobile banking into high gear by offering auto loans through customers' phones.

Turkish bank Akbank TAS is hoping to bring contactless mobile payments to its customers through a partnership agreement announced this week with Visa Europe.

State Farm Bank is the latest financial services company to offer a remote deposit capture service to its mobile customers.

Plastyc Inc. has revamped its mobile banking website for prepaid card customers.