SCVNGR, the maker of LevelUp, announced that it has raised $12 million in funding with participation from existing investors Highland Capital Partners, Google Ventures, Balderton Capital and new investors Continental Investors and Transmedia Capital.

Launched by Boston-based SCVNGR in July 2011, LevelUp enables its users to pay with their phones by linking their credit or debit card to the app and scanning it at checkout. In turn, businesses on LevelUp are able to attract new customers with incentives while motivating them to become regular customers with loyalty rewards.

The US Federal Reserve has reported its latest G.19 Consumer Credit statistics - finding that "consumer credit increased at an annual rate of 3% in April. Revolving credit decreased at an annual rate of 4.75%, while nonrevolving credit increased at an annual rate of 7%."

Earlier this week, the Federal Reserve Board announced that it has restructured the G.19 Consumer Credit statistics to reflect regulatory filing changes for U.S.-chartered depository institutions among other things.

On the web:

• Facebook Rolls Out 'Low-Friction' Mobile Payments System - CNET
• Venmo Relaunches To Make Mobile Payments More Social - Business Insider

On the wires:

• Dynamics Integrates Gaming into Everyday Purchases
• NetSuite And Stripe Partner To Power Next-Generation Online Payment System