U.S. banks and merchants face mounting pressure to catch up with technology used in Europe, Asia and Latin America to secure credit- and debit-card data after tens of millions of Target Corp. customers were exposed.
Discover Financial Services, the second-best performer among 81 U.S. financial firms this year, climbed 3.9 percent to a record high and EBay Inc. shares also advanced after announcing a payment-processing deal.
EBay Inc.’s PayPal unit, an online payments processor with more than 50 million U.S. customers, will expand acceptance of its service to brick-and-mortar stores nationwide in an agreement with Discover Financial Services.
The four biggest U.S. banks are encouraging their most creditworthy customers to take on more debt, mailing credit-card balance-transfer offers with rates as low as zero percent even as they add fees for other services.
Units of JPMorgan Chase & Co., Goldman Sachs Group Inc. and Barclays Plc are among banks that registered as swap dealers under the Dodd-Frank Act that requires higher capital, collateral and trading standards.