Last night, the Special Committee of the board of directors of iPayment announced that it had determined that the May 13, 2005 offer by Greg Daily, CEO of iPayment, to buy all of the outstanding common stock of the company for $38 per share undervalues the long-term prospects of the company.

Russ Wiles reports for the Arizona Republic on the state of Arizona's rollout of Visa debit cards with JP Morgan Chase for child-support and other payments.

That makes Arizona the first state to combine payments from different programs on one debit card, said Brian Claire, senior vice president at JPMorgan Electronic Financial Services in Chicago.

John McCormick and John Blemer report for the Knight Ridder News Service on consumer usage of credit cards featuring frequent-flier mileage rewards.

Earning miles or points for free plane tickets, hotel nights and gifts has becoming something of a national obsession for Americans who have found ways to use plastic to pay for groceries, tuition, cars, rental payments, jail bonds and even the final expense -- funerals.

"People don't think they can," said Terry Hemeyer, a spokesman for Service Corporation International, the nation's largest funeral home chain. "But when they find out that they can, they want to do it because they want the miles."