Yahoo! has been issued US Patent No. 7,031,939 for "systems and methods for implementing person-to-person money exchange" based upon a filing dated August 15, 2000.

A few days ago, Rob Walker wrote a story for the New York Times about the Jimi Wallet - "the wallet for people who hate wallets" (and who doesn't!).

Zhand Ferming reports for ShanghaiDaily.com about a failure in the city's bank card processing system at China Unionpay that led to major outage. Ferming reported: "Bank cards, which are used as a convenient payment channel in daily consumption, has lost its luster amid such a system break-down."

Digital Transactions reports on Visa USA CEO John Philip Coghlan's keynote address to this week's Electronic Transaction Association annual meeting in Las Vegas.

eBay reported first quarter 2006 financial results yesterday including impressive results for its PayPal business that reported revenues up 44% and payment volume up 41% year-over-year.

• Canada: Visa's new chip gives credit-card fraudsters the slip
• Silicon.com: Cheat Sheet: NFC and contactless payments
• Digital Transactions: TSYS CEO Says Processor Will Build on Ties to Defecting Clients
• Card Technology: Santa Monica Uses Smart Cards For Parking
• Hypercom Unveils Market's First Plug-and-Play Value-Added POS Application Platform
• Hypercom Takes the Lead: Introduces First Universal Contactless Handheld PIN Pad