Robert Vamosi reports for Cnet News.com on the Information Card Foundation, a new group created by Equifax, Google, Microsoft, Novell, Oracle, PayPal, and others to "increase awareness of the use of electronic ID cards on the Internet, and encouraging interoperability in business around new standards." The Information Card Foundation website should be updated with more information on Tuesday. See also Dark Reading's article today. Laurie Flynn covers the story in Tuesday's New York Times.

The Consumer Federation of America, Consumer Action and Consumers Union last Friday submitted comments to the Federal Trade Commission on its upcoming Town Hall meeting on the subject of contactless payments and implications for consumer payments policy. The Town Hall meeting, "Pay on the Go - Consumers & Contactless Payments", will be held in Seattle on July 24th and is co-sponsored by the Technology Law and Public Policy Clinic at the University of Washington.   » Continue Reading

PayPal, calling itself "the brand that pioneered a safer, easier way for people to pay and get paid online," has announced the kick off of its 10th anniversary celebration with a retrospective web site and the release of a specially commissioned survey that shows 80 percent of U.S. online shoppers say the Internet has made their lives easier. PayPal says that every second it processes some US $2,000 in payments with PayPal payments representing about 9 percent of e-commerce globally and 12 percent in the U.S.   » Continue Reading

Mobile Money Ventures, a joint venture of Citi and SK Telecom, has announced that its mobile financial services solution is compatible with Android, a software stack for mobile devices that includes an operating system, middleware and key applications. Google and other players have collaborated on the development of Android through the Open Handset Alliance, a multinational alliance of technology and mobile industry leaders. According to MMV, its offering "will enable financial institutions and carriers to offer customers the ability to use a comprehensive set of mobile financial services on Android-powered mobile devices."   » Continue Reading

On Saturday, Eric Dash of the New York Times reported on how some credit card issuers are reducing the amount of available credit on their credit cards for millions of Americans. In addition, he notes that mail solicitations for new cards and credit balance transfers are also off this year.

On his NetBanker blog, Jim Bruene takes a deeper look at the S-1 Registration Statement filed with the SEC last Friday by Lending Club. On Friday, the company updated its website with more information about the filing.

• Senate Housing Bill Requires eBay, Amazon, Google, and All Credit Card Companies to Report Transactions to the Government
• Forrester: Consumers' Rankings Of Financial Institutions Fall To Lowest Levels In Five Years
• Amazon.com’s Office Supplies Store Is Now Open for Business
• Firethorn Joins Forces with BECU to Make the Mobile Wallet a Reality
• New Aite Group Report: Retail Banking: Why Online Marketing Matters
• AccuPOS Introduces Handheld POS
• Heartland Payment Systems Named Best Sales Organization in America by American Business Awards
• CUNA Strategic Services Names Digital Insight Preferred Online Banking Provider
• PULSE Releases Debit Card Safety Tips for Protecting Yourself this Summer
• M-Cube Media Limited Adopts Breakthrough Technology to Fight Fraud and Enhance Profits
• New Javelin Research Pinpoints How Institutions Should Respond to Data Breaches
• Monitise Americas Wins Cards International Global Award and Named a Finalist for Two Additional Industry Awards
• Electronic Payment Solutions Provider Saves Dental Practice Over $40,000/yr
• Vindicia CashBoxTM Billing Management System Supports Symantec Customer Renewals
• Fundtech: Bankers Say Five Years or More to Recover Lost Revenue from SEPA
• Consumer Credit Card Debt Chilling the Mexican Economy
• Tyfone to Present to NFC and International Micropayments Forum

We have received news of the following recent management changes:

• Michael Manchisi has been named chief technology officer at MasterCard Worldwide. Manchisi most recently was group executive, MasterCard Strategic Account Management.