The Federal Reserve has updated its G.19 Consumer Credit statistical release noting that 'consumer credit increased at an annual rate of 2-1/2 percent in February; revolving credit increased at an annual rate of 6 percent, and nonrevolving credit increased at an annual rate of 1/2 percent.'

Discover Financial Services has announced that it has signed an agreement with Citi to acquire Diners Club International - saying the combination will result 'in a global payments network with increased transaction volume and worldwide acceptance of Discover Network cards once the networks are fully integrated.' Discover said it will not issue cards or extend consumer credit in international markets as a result of this acquisition.   » Continue Reading

India's PayMate has announced it is expanding the reach of GiftMate, its mobile gift voucher program, 'to non-resident Indians in North America who can now send GiftMate mobile gift vouchers to their friends and family, anywhere in India.'   » Continue Reading

Vesdia has announced the expansion of its merchant-funded rewards network to include multi-channel merchants and service providers: ADT Home Security by Security Choice, DIRECTV, Hard Rock Cafe and Golfsmith. Vesdia says its network is 'the largest coalition loyalty program in the U.S. and consistently provides clients with measurable program growth in the marketplace.'   » Continue Reading

MasterCard Worldwide has announced a new debit processing platform,MasterCard Integrated Processing Solutions (IPS), calling it 'a powerful MasterCard-engineered debit processing platform" that "offers financial institutions a complete processing solution to help create differentiated products and services, enabling them to quickly expand their payments portfolios across banking channels.'

MasterCard held a conference call this morning to discuss IPS. A presentation is also available.   » Continue Reading

TSYS has announced the launch of n>gen - calling it 'a new business paradigm that makes it easy for TSYS clients to efficiently and thoroughly manage all their complex payments-related business needs with point-and-click ease.'   » Continue Reading

Loyalty Lab has announced a 'strategic alliance with HSBC Finance Corporation’s card and retail services business to extend advanced loyalty and customer retention marketing (CRM) capabilities to retailers that offer private label and co-branded credit cards through HSBC.'   » Continue Reading

• Pay Linx Financial Corporation announces agreement with Palm Desert National Bank to issue MasterCard branded prepaid cards
• BMO Harris ePurchasing Solutions Expands Global Partnerships with Leading Banks in Italy and India
• Regions Launches New Solutions for Business Owners
• UPEK and IDology Announce First Biometric Identity Verification Solution for the Internet
• New Javelin Report Benchmarks 25 Top Credit Card Issuers for Consumer Identity Safety Features
• A New Report from Aite Group: Evaluating the Vendors of Remote Deposit: Differentiate, or Step Aside
• Chevron Announces Newly Designed Chevron and Texaco Personal Credit Cards With Enhanced Benefits
• JupiterResearch Launches New Coverage Area; Mobile Devices to Focus on Understanding of Consumer Adoption for New Mobile Platforms
• As Consumer Debt Climbs to an All-Time High, SmartyPig Offers a Smart, Simple and Safe Solution for Consumers in a Web 2.0 World
• PaySimple Saves Time, Money for San Diego Better Business Bureau
• WSJ: Washington Mutual to Get $5 Billion
• WSJ: Fiserv Banks on a Return To Core Services for Growth
• International Herald-Tribune: The Evolution of CyberCrime, Inc.

We have received news of the following recent management changes:

• Carol Ann Korpi has been named Vice President of Sales and Ken Silver has been named Vice President of Alliances at eBillMe. Korpi was previously Vice President of Sales for CNET Channel. Ken Silver previously served as Senior Vice President of Global Enterprise Integrations with Chase Paymentech Solutions.