The Federal Trade Commission has posted a new consumer article regarding Buying, Giving, and Using Gift Cards. Consumers spent about $18 billion on gift cards during the 2005 holiday season.

David Kelly reports for the New York Times on how recent changes in credit card and debit card fees for international transactions along with the "unintended consequences" of fraud prevention measures by card issuers have made using payment cards tricker and potentially more expensive for consumers.

Caroline Meyer reports for the Washington Post on a letter sent by Deborah Platt Majoras, the chairman of the Federal Trade Commission, to Rep. Charles F. Bass (R-N.H.) this week in which she said that gift card issuers that do not clearly and conspicuously disclose fees or expiration dates may be engaged in deceptive marketing and that any failure to disclose them adequately "would be likely to mislead consumers."

Elizabeth Davidson reports for The Scotsman on how paying just one pound more per week above the minimum credit card repayment will bring "financial freedom" almost 14 years earlier.

Nancy Castleman reports for CardRatings.com on how valuable it can be to use any tax refunds you might receive to pay down outstanding credit card account balances.

Elena Malykhina reports for Information Week on mobile payments as mobile phones are increasingly expected to also become payment instruments.

Note: Throughout the day, as Payments News happens, this post is updated.

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