Dina ElBoghdady writes in the Washington Post about the use of card payments for low value purchases.

Robin Sidel reports in the Wall St. Journal that JP Morgan Chase will move much of its fast-growing debit card business to the Visa brand.

The decision solidifies Visa USA Inc.'s existing dominant relationship with J.P. Morgan, which is now the nation's largest issuer of credit cards. It also is significant because much of the card industry's growth is expected to come from debit cards.

MasterCard has announced it is working with MBNA, the Seattle Seahawks and Baltimore Ravens Football Clubs to incorporate MasterCard PayPass contactless payment technology into the MBNA Seahawks and MBNA Ravens Extra Points credit card programs. Both Qwest Field and M&T Bank Stadium will accept MasterCard PayPass cards at the point-of-sale, beginning with the 2005 football season.   » Continue Reading

Investors Business Daily takes a look at Portfolio Recovery Associations, one of the publicly traded debt collection companies.   » Continue Reading

ABI Research has announced the availability of a new study of RFID contactless payments.

JP Morgan Chase has announced that it will continue to issue credit, debit,and commercial cards through both Visa USA and MasterCard International. JPMorgan Chase said it will also retain its positions on Visa U.S.A.'s board consistent with association rules that prohibit dual board representation.

Tomorrow at 1 PM EST William Campbell, Chase Card Services' Chairman, and Richard Srednicki, Card Services' CEO, will be presenting a webcast update on Chase's Card Services business.

Update: An Associated Press story includes some additional commentary on the Chase announcement.   » Continue Reading

SVPCO Check Services has announced the launch of SVPCO National Check Exchange, a new national check clearing service that "provides participating institutions with the ability to exchange checks across regions more efficiently, following a universal set of rules."   » Continue Reading

Peppercoin has announced an agreement with SunTrust Merchant Services to offer Peppercoin's small paymnet processing system to its merchants.   » Continue Reading

Robin Langford reports in Netimperative on PayPal's growth in the UK to 6.3 million accounts.

The company launched its UK-site in 2003 and became regulated as an Electronic Money Issuer by the FSA in February 2004. In 2004 it introduced an ACH-in system, enabling customers to fund PayPal transactions directly from their bank accounts.

Richard Wilner reports in the New York Post on Wal-Mart's financial services focus including its recently announced deal to issue a Wal-Mart Discover card.

The country's No. 1 retailer is expected to roll out its much-anticipated Wal-Mart Discover card today — complete with a 3-cent per gallon discount at company gas stations and interest rates as low as 9.87 percent.

Separately, Wal-Mart issued a press release announcing the launch of the new card.

"Wal-Mart Discover is designed especially for credit card customers who want to save money. It has great features like cash back, gasoline discounts and low rates," Jane Thompson, president of Wal-Mart Financial Services, said.

"Our focus to date has been on basic money services for those without credit cards and checking accounts," she continued. "These basic services are saving our customers $2 million a week. The new Wal-Mart Discover shows our commitment to widen our services to help all our customers save money and improve their lives."