Jim Bruene posts on his NetBanker blog about PayPal's launch of its own application on the Facebook platform.

By the way, I've been enjoying Facebook since signing up a couple of months ago. If you know me (Scott Loftesness), have attended one of our Glenbrook Payments Boot Camps, etc. and want to send me a Facebook friend request, I'd be happy to reciprocate.

Southwest Airlines now accepts PayPal for purchase of tickets at its online reservations site: www.iflyswa.com. Recently, PayPal also announced that Northwest Airlines had begun accepting PayPal.

The Federal Reserve reported its monthtly G.19 Consumer Credit statistics today for the month of May 2007. Consumer credit increased at an annual rate of 6-1/2 percent in May. Revolving credit rose at an annual rate of 9-3/4 percent, and nonrevolving credit rose at an annual rate of 4-1/2 percent. Revolving credit outstanding now totals $894.8 billion.

TD Canada Trust has announced the completion of "Canada's first transaction with a chip debit card. The transaction was made at a Green Machine automated banking machine (ABM) located in TD's Creekside Corporate Office in Mississauga, Ontario. TD becomes the first organization in Canada to be able to conduct a transaction using a chip debit card at a chip-enabled ABM that adheres to EMV standards."   » Continue Reading

In the UK, Barclaycard has announced "the new look and name of its unique card which will combine Oyster, credit and contactless functionalities. The new three-in-one card will be called Barclaycard OnePulse and is on track to be launched across London this September. Barclaycard OnePulse will be the only UK credit card that combines the ease and convenience of Oyster with the security and flexibility of Barclaycard and new contactless technology."   » Continue Reading

A new survey by KPMG International reports that bank executives say spending to combat money-laundering activities rose by 71 percent in North America over the past three years, mainly to pay for IT systems and training staff.   » Continue Reading

Leslie McFadden of Bankrate.com interviews Evan Hendricks, the author of "Credit Scores & Credit Reports: How the System Really Works, What You Can Do", about his concerns with the credit reporting system in the US.

Lydia Chen reports for the Shanghai Daily that "individuals and companies can now use checks to pay for things in any city across China as a check imaging system was put into use by the central bank." Previously, checks could only be used in China in the city where issued.

David Colker reports for the Los Angeles Times about how check fraud just won't go away - "U.S. banks lost $711 million because of check fraud in 2005, the most recent year the Federal Reserve studied the matter."

Ben Steverman writes for Business Week about the recent stock price performance of MasterCard vs. just-issued Discover Financial Services - saying that "while MasterCard's IPO was a resounding success, so far Discover is getting poor reviews from investors."

Juniper Research has announced a new mobile payments report that "predicts that P2P fund transfers and mobile payments in the developing world, together with the commercialisation in 2009 of NFC (Near Field Communications) based mPayments will generate transactions worth approximately $22bn."   » Continue Reading

• Heartland Payment Systems Provides First-of-Its-Kind Three-Year Pricing Guarantee for Payroll Customers
• Near Field Communication Forum Begins Work on Host Controller Interface Specification
• nCircle Certified PCI Scan Service Fully Automates Quarterly PCI Scan
• SafeCharge Selects Arcot Systems Authentication Solution for Secure Internet Shopping
• Prepaid Wireless for Credit Challenged
• Liquix Partners with Postilion to Offer Payment Processing in Europe
• Nordea Bank Ab Selects Arcot Systems for Secure Online Payment Implementation
• Power Financial Credit Union Brings ATMs To The Home With New eDeposit Service
• First Data Earns Processing Contract Renewal with PSCU Financial Services

We have received news of the following recent management changes:

• Dan Schatt has been named Senior Director of Strategy at PayPal, reporting to Rajiv Dutta, President of Paypal. Previously, Schatt was a senior analyst with Celent.