SeekingAlpha.com has posted transcripts of last night's Visa and this morning's MasterCard earnings calls.

San Francisco-based Paymo, formerly mTN Global, has announced it has raised $5 million in seed financing. Paymo says it's "the first company to address the needs of online merchants for a global micro-payments solution for digital content and services." READ MORE »

In the UK, Tesco has announced that it has reached an agreement with The Royal Bank of Scotland to buy from RBS its 50% shareholding in Tesco Personal Finance Group Limited for £950 million. Tesco says it "will enable Tesco over time to extend its financial services business from a collection of popular financial products to that of a full service retail bank offering more choice, innovation and value to customers, and better returns to shareholders." READ MORE »

MasterCard has reported financial results for the second quarter of 2008. MasterCard's worldwide purchase volume during the quarter rose 14.0% to $493 billion and its gross dollar volume increased 12.8% to $655 billion. Transactions processed grew 13.6% to 5.2 billion. MasterCard reported 951 million MasterCard cards issued, up 11%. Net revenue for the second quarter of 2008 was $1.2 billion, up 25.0%. Pricing changes contributed approximately 5 percentage points of the net revenue growth. A webcast and accompanying presentation are available online.

• comScore: U.S. Retail E-Commerce Growth Rates Soften In May and June
• Wireless Week: Obopay Optimistic for Mobile Payments
• VeriFone Drives Transportation Payment System in Turkey
• Alliance Data Signs New Long-Term Agreement With Beall's Department Stores, Inc.
• Visa Olympic Games-Themed Giftcards Available at Simon Malls
• TheStreet.com: Social Security Debit Cards on the Money
• Seeking Alpha: Card Issuers: Facts and Fictions
• Gemalto Web Service Enables Personalized Photos on PlasticNow MasterCard Cards in Canada
• Concord Monitor: 5 questions about credit card debt

We have received news of the following recent management changes:

• Janey Place and Heidi Roizen have been elected to the board of directors of Online Resources.