Inside these posts: Credit-card processors

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Study: New credit card rules not hurting borrowers

(Reuters/Kevin Lamarque)

A private lending watchdog group said on Wednesday that sweeping rule changes imposed on credit card issuers last year by the U.S. Congress had increased transparency for borrowers without restricting the availability of credit.

When the law, known as the Credit Card Accountability, Responsibility and Disclosure Act of 2009, went into full effect last February, financial companies warned it would make it harder for consumers to get credit cards and more expensive for those who did. Get the full story »

MasterCard 4Q net jumps 41%

MasterCard Inc.’s fourth-quarter profit soared 41 percent as cardholders ratcheted up spending at a record pace and the company processed more payments, spurring growth in revenue. Get the full story »

FeeFighters snags $1.6M in new funding

FeeFighters, a local startup that helps small businesses compare credit-card processors, has raised $1.6 million in a new round of funding. Get the full story »

Discover issues mobile device stickers

Swiping your plastic is becoming a thing of the past.

Riverwoods-based credit card company Discover said it began issuing Discover Zip contactless credit cards and stickers on Nov. 15.

The way it works, consumers touch a payment device, which is in the form of either a plastic card or a sticker that can be applied to a mobile phone or any personal item, to a Zip-enabled contactless reader to make a payment. Currently, more than 100,000 U.S. locations, including restaurants, gas stations and convenience stores, offer contactless readers that accept Zip transactions at cash registers. Get the full story »

Investors pour $510K into start-up TransFS

TransFS, a Chicago-based start-up that helps small businesses compare credit-card processors, has raised $510,000 in its first round of funding.

TransFS was launched in the spring of 2009 by Sean Harper and Joshua Krall, classmates at the University of Chicago’s Booth School of Business. The company provides a comparison shopping Web site for credit-card processors, including ratings, reviews and explanations of how contracts work. Get the full story »