Payments News: March 16, 2009

American Express Reports Increased Credit Losses

American Express this afternoon reported February statistics for its US credit card portfolio which showed that the net chargeoff rate grew from 8.1% to 8.6% (managed basic) while the total amount outstanding continued to decline.

Reuters: Emerging market telcos race for banking business
NetSPI, VeriFone Team on Industry-Leading PA-DSS Compliance Effort
MarketWatch: American Express paid CEO $27.3 million in 2008
Reuters: U.S. credit card defaults rise to 20 year-high
ReadWriteWeb: New SMS Receipts Service Makes Mobile Banking More Secure
BBC NEWS: Deals drive mobile money services
Bloomberg: Wells Fargo Chief Assails TARP, Calls Stress Test ‘Asinine’
Citi Board Nominates Four New Independent Directors for Shareholder Approval
SafeMashups Inc., Launches the World's First Application Authentication Solution to Accelerate the Adoption of High-Value Business and Consumer Mashups
The Financial Services Club's Blog: Mobile payments in China
Alliance Data Provides Private Label Performance Update for February 2009
Intuit Study: Small Businesses Will Innovate Today to Succeed Tomorrow
Reuters: Capital One credit card delinquencies rise in Feb

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