Inner Fence, which makes the Credit Card Terminal application for Apple Inc.’s iPhone, on Sept. 1 announced it is shipping the Credit Card Reader, which attaches to an iPhone’s dock connector.

With several smart card-based transit projects developing around the globe, shipments of smart cards supporting transit applications will grow at an 11% compound annual rate through 2015, new research suggests.

Visa Inc. hopes to prove to banks that a contactless payment chip in a mobile phone is a much more compelling product to consumers than the same chip in a plastic card.

VeriFone Systems Inc. plans to use its acquisition of Way Systems Inc. to attract more merchant interest in its mobile-payment systems. But the deal also eliminates a competitor, analysts say.

Consumer confidence in the economy in August stabilized after declining for three consecutive months, although the number percentage of consumers rating their personal finances as poor rose, according to new survey data Discover Financial Services released Sept. 1.

The average charge-off rate on U.S. consumer credit cards in July fell to a 16-month low, while delinquency rates also were better as credit card-portfolio health continued to improve, Fitch Ratings reported Sept. 1.

More than 70 vending locations operated by Washington Vending are using Apriva’s cashless-vending services in the Washington, D.C., area, Apriva says.

Consumer confidence improved slightly in August, reversing directions after declining in both June and July, The Conference Board Inc., a New York-based research organization, reported Tuesday.

Consumer spending rose in July at the strongest pace in four months, supported by a slight gain in incomes that offered hope consumers will be able to keep contributing to a modest economic recovery.

The average credit card borrower debt during the second quarter ended June 30 dropped for the fifth consecutive quarter, to $4,951, down 4.1% from $5,165 the previous quarter, according to a TransUnion analysis of credit card trends. Each quarter TransUnion looks more than 200 variables in consumes credit report; many involve credit card stats like 60,90, 120 days past due, percentage of active credit cards, new trade lines that are new credit card accounts and average balance of new credit cards.

The banking industry's loan losses could stay elevated for years, recent federal data suggests, even after appearing to peak in late 2009.

Zions Bancorp. says the deal to sell its remote capture unit is a strategic move to leave an increasingly competitive business.

EL SEGUNDO, Calif. – Xceed Financial FCU said it has installed Mortgagebot’s Mortgage Marvel, an online tool for mortgage shopping.

Cimbal Inc. is bypassing any future business models centered on Near Field Communication payments with a mobile-phone application that mimics NFC functionality but without the use of an embedded chip in the handset.

Consumer confidence improved slightly in August, reversing directions after declining in both June and July, The Conference Board Inc., a New York-based research organization, reported Aug. 31.

UMassFive College Credit Union has selected ACH Federation to provide the independent not-for-profit cooperative financial institution with back-end automated clearinghouse technology to enable the institution’s members to pay their various loans by phone.

As the industry waits for Near Field Communication technology to reach the market, other mobile-payments technologies are being tested all over the globe. These products work by integrating technology similar to NFC into existing mobile handsets.

PNC Financial Services Group Inc. is betting that its Virtual Wallet account, which has always focused on showing consumers how to be better savers, can also teach them to be better spenders.

Experian, a global information services company, Tuesday announced the results of its monthly Business Benchmark Report. Findings from the July report show that the national average number of days that businesses paid their bills beyond contracted terms increased by 2% in July compared with June.

Small-business owners’ confidence dropped sharply in August amid increasing gloom about the economy, according to new survey data Discover Financial Services released Monday.