Payments

JPMorgan Chase & Co. recently reported second-quarter net income of $343 million for its Card Services unit. The unit experienced a $672 million net loss during the same period ended June 30 last year. Net revenue totaled $4.21 billion, down 13.6% from $4.87 billion.

Kasikornbank Ltd. plans to embark on a Near-Field Communication payments trial in Thailand this month, an official from the Bangkok-based bank confirms to PaymentsSource.

Mopay Inc., a Germany-based mobile-payments company, has rolled out a service that enables online merchants to bill purchases on a consumer’s landline phone bill account.

One hundred fifty credit unions have agreed to offer members a mobile banking service based on software from Fiserv Inc., including 84 that are already using it.

Credit card losses fell sharply at Bank of America Corp. in June, to the lowest level in more than a year, fresh data shows. The rate of delinquent loans also declined.

The Bank of the Philippine Islands and Globe Telecom Inc. on July 14 launched a cashierless payment service to enable the Philippines-based telecommunication operator’s subscribers who also hold accounts at the bank to pay their Globe bills using the bank’s mobile and online-banking platforms

The use of mobile-banking services is increasing, but many consumers still prefer to bank online or at branches for more-complex transactions, new study data suggest.

By offering a mobile service that addresses a common need, JPMorgan Chase & Co. might also get people to use their phones for a type of payment of which few people are even aware.

U.S. consumers’ average credit card debt in June inched up after falling to its lowest level of the year in May, while the average credit score dropped for the first time in 2010, according to new data Credit Karma released this week.

Fremont, Calif.-based Patelco Credit Union has become the first financial institution in the U.S. to launch Mobile Popmoney, which will enable Patelco's members to send an electronic payment directly to another person via an e-mail or text message from their mobile phone.

Monitise PLC, a United Kingdom-based provider of mobile banking and payments services, on July 13 announced plans to raise £32.4 million (US$48.6 million or 38.7 million euros) through the sale of company shares and a subscription by Visa Inc. that will raise the card brand’s shareholding interest in the company to 14.4% from 12.6%.

Lawsuits filed in the U.S. against units of HSBC Holdings PLC charge that the lender's credit card payment-protection service defrauds disabled, retired and unemployed consumers, according to Bloomberg News.

Abu Dhabi Islamic Bank has become the first financial institution in the United Arab Emirates to launch mobile-payment services in collaboration with Etisalat, according to a spokesperson for the mobile operator.

CINCINNATI-Fifth Third Bancorp last week said its Fifth Third Processing Solutions, LLC unit had acquired the assets of credit union processor TNB Card Services from credit union-owned Town North Bank of Dallas.

Fifth Third Bancorp has announced its Fifth Third Processing Solutions LLC unit has acquired the assets of credit union processor TNB Card Services from credit union-owned Town North Bank of Dallas.

Bluepoint Solutions, a provider of remote deposit capture solutions, announced the release of QwikDeposit To Go, a mobile remote deposit capture application.

The allure of mobile payments, which Generator Research, a United Kingdom-based research firm, estimates will grow to an estimated $600 billion worldwide by 2014, has drawn AT&T Inc. into the fray, as have the merchants accepting payments via their phones. The telecommunication giant announced July 7 it will work with Apriva to sell the wireless-payments company’s AprivaPay and AprivaPay Professional mobile-payment services.

MasterCard Inc. announced a free application for Apple Inc.'s iPhone that lets users track special deals offered through the payments network's online shopping portal, MasterCard MarketPlace.

CINCINNATI – Fifth Third Bancorp said this morning its Fifth Third Processing Solutions LLC unit has acquired the assets of credit union processor TNB Card Services from credit union-owned Town North Bank of Dallas.

After the financial crisis forced them to retrench, credit card issuers are again on the hunt for new customers.