Visa has announced financial results for the Company's fiscal 3Q 2011 ended June 30, 2011 with GAAP net income for the quarter of $1.0 billion on GAAP net operating revenue of $2.3 billion, an increase of 14% over the prior year. Fiscal 3Q 2011 highlights include:

• Payments volume growth, on a constant dollar basis, for the three months ended March 31, 2011, on which fiscal third quarter service revenue is recognized, was a positive 13% over the prior year at $862 billion.
• Payments volume growth, on a constant dollar basis, for the three months ended June 30, 2011, was a positive 13% over the prior year at $941 billion.
• Cross border volume growth, on a constant dollar basis, was a positive 14% for the three months ended June 30, 2011.
• Total processed transactions, which represent transactions processed by VisaNet, for the three months ended June 30, 2011, were 13 billion, a positive 11% increase over the prior year.

Client incentives, which are a contra revenue item, were $448 million and represents 16% of gross revenues. A webcast replay is available on the Visa investor website.

Mitek Systems, a key technology provider for mobile check deposit, has announced the availability of the first Mobile Imaging Cloud, a new service for mobile application developers, systems integrators and businesses that want to a "fast, cost-effective way to create smartphone and tablet apps that use the camera as an input method for a wide variety of tasks."

Mitek’s extractive-imaging technology works with both paper and non-paper documents, including drivers’ licenses, gift cards, receipts, invoices, tax documents and many others.

Several new positions for payments professionals have recently been posted to Glenbrook's payments industry job board in July:

• Senior Director, Credit Cards - Amtrak - Washington D.C.
• Executive Director, Retail Payments Risk - Atlanta Fed - Atlanta, GA
• Sr Risk Manager - Merchant Underwriting & Card Payments - ChargeSmart - San Francisco

Is your company hiring? Are you in the market for qualified payments professionals? You can reach the best candidates here! Post your job openings for payments professionals on PaymentsJobs.com!

A new TransUnion analysis has found that consumers made an estimated $72 billion more in payments on their credit cards than purchases between the first quarters of 2009 and 2010.

"Many people in the financial services industry believe charge-offs have been the leading factor in declining credit card debt since the start of the recession," said Ezra Becker, vice president of research and consulting in TransUnion's financial services business unit. "In fact, some have stated that charge-offs account for the entire change in card balances over the past two to three years. In reality, the dynamic is more complex. Our analysis shows that consumers have made a concerted effort to pay down their credit cards during these uncertain economic times."

Citibank has unveiled its first-ever consumer banking app designed specifically for iPad.

“Our iPad app is all about listening to our clients and understanding that they need their digital banking experience to be more engaging and dynamic – beyond the standard static tables you find with other iPad apps,” said Tracey Weber, Head of Internet and Mobile Banking, North America Consumer Banking, Citi. “We’re offering a whole new way of banking, with enhanced visuals and interactive tools. We’re focused on continually offering modern solutions that help put ease into our clients’ financial lives, wherever and whenever.”

"At the Chicago Fed’s 2011 Payments Conference, held on May 19–20, participants discussed how changes in consumers’ behavior in the wake of the financial crisis and recession can translate into opportunities and challenges for both traditional and nascent payment providers. They also focused on the impact of payment innovations and new consumer protection regulations." This special issue of the Chicago Fed Letter is now online.

On the web:

• Finally, a Facebook Credit Card Connection to Really Like (Thanks American Express) - NetBanker
• Interview with Card.io Co-founder Mike Mettler re Card Image Scanning - MyBankTracker.com
• 20 Silicon Valley Startups To Watch: SwipeGood - Business Insider
• 3 Mobile Cash Registers - Inc. Magazine

On the wires:

• J.P. Morgan Treasury Services to Provide Enhanced FX and Cross-Border Payment Capabilities to Fundtech’s PAYplus USA Clients
• NCR and Scopus Tecnologia Sign Agreement to Accelerate Growth in Brazil