In all, the amount of non-mortgage debt carried by Americans slipped 1.5 percent on a year-over-year basis to a total of slightly more than $2.7 trillion in July, down from nearly $2.71 trillion the previous month, according to the latest monthly consumer credit statistical release from the Federal Reserve Board. That decline was due to a sizable drop in the amount of outstanding debt on credit cards consumers had in their names.

Mobile wallet developers like Google and Isis may have once considered getting into the payment processing industry as a means of making money off these new types of purchases, but both abandoned the ideas in favor of a different one, according to a report from the tech news site CNET. Instead of being involved in payment processing, mobile wallet companies may instead be trying to earn profits from allowing retailers to have greater access to consumer information.

Isis - the joint mobile wallet venture from AT&T, T-Mobile and Verizon Wireless - recently revealed that it would begin pilot testing of its payment program in both Salt Lake City, Utah, and Austin, Texas, within the next few weeks, according to a report from Bloomberg News. While the exact date of the rollout is not yet available, a spokesperson for the company told the news source that it would take place in the summer, which ends on September 21.

On a scale of 1,000, consumers' happiness with their credit card and lender now ranks at 753, according to the latest annual U.S. Credit Card Satisfaction Study issued by J.D. Power and Associates. That rating is up from 731 in 2011, and 714 in 2010.