eBay reported quarterly financial results this afternoon including results for its PayPal business. During the quarter, PayPal's number of accounts grew 41% year over year to 123 million accounts. The number of accounts active in the quarter grew to 30.9 million, up 26%. Those active accounts generated 146.2 million payments during the quarter averaging about $62 per payment resulting in a total payment volume of $9.1 billion, up 37%. PayPal reported a 46% growth in its transaction loss rate - growing from 24 basis points last year to 35 basis points this year. PayPal's transaction revenue rate was up slightly from 3.6% of payment volume to 3.73% - resulting in PayPal revenues of $340 million, up 42%. 38% of PayPal's revenue was from international.

"Person to person" online money transfer company, iKobo, Inc. has announced that it completed a $4 million Series C financing round. The funding round was led by Greenhill SAVP, with additional financing support from existing investors, including Total Technology Ventures LLC and Council Ventures.   » Continue Reading

Southwest Airlines has announced that you'll be able to purchase the Southwest Airlines southwestgiftcard at stores such as Albertsons, Kroger, Safeway, and at participating SAM'S CLUB and Wal-Mart locations, the southwestgiftcard will be available in either $50 or $100 denominations. Southwest Airlines worked with SmartClixx LLC to distribute the southwestgiftcard at retail locations.   » Continue Reading

A colleague just pointed out to us a new (new to the US) mobile payments company: Crandy. According to a recent press release, "Crandy is a German-based mobile payment system with more than 350,000 users in five European countries."   » Continue Reading

MasterCard Worldwide has announced the launch of a debit card rewards program that will provide cardholders a new way to save for the rising costs of higher education. BancorpSouth, BankAtlantic, BECU and Provident Bank are the first four financial institutions to offer the new program, currently available to eligible Debit MasterCard customers. MasterCard said the program will be exclusive to the four issuers for a period of one year, after which MasterCard and Upromise will evaluate if and how to expand the offering to additional customers.   » Continue Reading

Gift card provider Travel Tags has announced the launch of a short-run gift card business through a new website, eyeTwist.com, that caters to small and medium-sized gift card orders and other promotional products. The initial launch of eyeTwist includes four products: gift cards, loyalty cards, postcards and luggage tags in quantities ranging from 250 to 10,000.   » Continue Reading

Discover Card has announced that throughout October, November and December, its cardmembers can earn a 5% Cashback Bonus through its “Make the Holidays More Entertaining” Get More program when paying with Discover at restaurants, movies, and buying books, music and everything else, in-store or online, from these specific merchants: Amazon.com, Barnes & Noble, Borders, Circuit City, Crutchfield, Napster and Waldenbooks.   » Continue Reading

Peppercoin has announced that Garden Fresh Restaurant Corp. will use its Small Payment Suite and consulting services to enhance its customer loyalty program in its 98 Sweet Tomatoes and Souplantation restaurants. Peppercoins rewards solution uses the payment cards already in consumers' wallets to increase consumer loyalty and retention.   » Continue Reading

Visa USA has published its interchange reimbursement fees (PDF). On a new web page describing interchange, Visa says it "uses interchange reimbursement fees as transfer fees between financial institutions to balance and grow the payment system for the benefit of all participants." Earlier, MasterCard announced that it will be publishing its interchange fees by November 1st.

• Statement: Study Shows 'Poor Money Management' Is Top Reason for Bankruptcy; Credit Counseling Is Key Factor in Success of Bankruptcy Reform to Date
• Boston College Chooses GE Money to Provide Credit Card Product to University Constituents
• Cash Systems Announces Partnership With TSYS Acquiring Solutions
• TSYS Reports 13% Increase in Earnings Per Share for the Third Quarter 2006
• Leading Spanish Bank Selects NCR ATMs with Image-Based Deposit
• Fiserv Health Acquires Innovative Cost Solutions
• ICFE Introduces Certified Credit Score Manager