Allen N. Berger of the Federal Reserve has published an interesting working paper on the economic effects of technological progress in the US banking industry.

In partnership with BankOne, UPS Capital has announced a new small business credit card.

"The UPS Capital Visa Business card provides exceptional value to small business owners in two important ways," said Dan Frate, chief operating officer of Bank One's card services unit. "It offers UPS shipping rewards for everyday spending and helps small business owners monitor, control and manage their expenses."

For every $2,500 in spending charged to the card, the small business receives a $25 coupon good toward UPS shipping services. In other words, roughly a 1% reward is earned for using the card.

Shirley Leung and Ron Lieber report on McDonald's plans to finally accept credit cards.

If all goes according to plan, with the latest systems, a McDonald's customer will be able to place an order at a counter or drive-through, swipe his or her credit card, and get an approval in under five seconds -- no signature required -- in the same way that customers pay for gas at the pump. Cash, by contrast, can take eight to 10 seconds, says Jim Sappington, McDonald's vice president of U.S. information technology. The typical credit-card transaction takes 25 to 30 seconds from swipe to signature, according to The Nilson Report, a payment-card newsletter.