The Federal Reserve's latest G.19 Consumer Credit report shows revolving credit grew at an 11.0 percent annual rate in May and a 9.8 percent annual rate in June. This compares to a -0.8 percent growth rate in the first quarter of 2006.

SVPCO - Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company L.L.C., has announced that The PNC Financial Services Group is now exchanging check images through the SVPCO Image Payments Network.   » Continue Reading

CUBUS Solutions has announced CUDeposits, a new software application that will help credit unions manage deposits more cost-effectively by providing members the ability to deposit checks into their accounts over the Web.   » Continue Reading

Visa USA has announced that, for the first time, small business spending on Visa Business cards (sales volume) in the United States surpassed $100 billion over a 12 month period. According to Visa, for the four quarters ended June 30, 2006, small businesses made $103.5 billion in purchases with their Visa Business cards, a growth rate of 32.2 percent.   » Continue Reading

Stacy Kaper reports for the American Banker on comments from Rep. Jim Leach on last week's demise in the Senate of a bill intended to limit Internet gambling. The Independent Community Bankers of America had commented late last month (PDF) that the bill would "would create an impossible compliance burden for “uncoded” transactions. Unlike credit card transactions, which include a code that identifies the type of business – including gambling – that is receiving payment, uncoded transactions do not provide a bank with this information. So, while it is possible to monitor and block credit card transactions, a bank cannot do this with uncoded transactions. Uncoded transactions include Automated Clearing House (ACH) transactions as well as paper and electronic checks."

India's Financial Times carries an opinion piece on mobile commerce by former Korea University Business School professor Mike Gauba in which he focuses on the differences between Internet and mobile - saying that mobile commerce supports an “on the go” business model that draws its strength from applications which have a strong synergy with mobility. He says "people will use mobile in a very small way to access Internet as a horizontal paradigm but would certainly like to use mobile in a big way to access lifestyle and business specific applications — which will address their needs while “on the go"."

Pete Bach writes for the (Appleton, Wis.) Post-Crescent about the right way and the wrong way to cancel credit cards while protecting your credit score. For example, experts caution against canceling longstanding cards with solid pay-on-time histories that do better for your credit score than a brand new one.

Blackhawk Network has announced the launch of its gift card program in the United Kingdom. According to Blackhawk, "since its founding in 2001, Blackhawk Network has grown its North American card roster to feature more than 100 brands including retailers such as Barnes & Noble Booksellers, Best Buy, Gap Inc., iTunes Music Card, Pizza Hut, Starbucks Coffee, The Home Depot, and Sears." Blackhawk Network also distributes prepaid debit and gift cards from American Express, MasterCard, and Visa.   » Continue Reading

Barclays Bank Delaware (formerly Juniper Bank) and Jo-Ann Stores have announced a new co-branded Platinum MasterCard that will be linked to the company's Preferred Customer program.   » Continue Reading

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