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Untitled Document
- from Glenbrook Partners
Payments News ISSN 1556-4487.
Copyright © Glenbrook Partners LLC, 2002-2006. All Rights Reserved.
Bank of America Offers First American Express Card
Jonathan Stempel reports for Reuters on Bank of America's launch this Friday of its first American Express-branded cards. Tonight, the Bank of America home page features an image of the new MBNA Rewards American Express card along with a link to the online application... |
Fortent Combines Searchspace, Semagix
Fortent, a company created specifically to deliver a comprehensive suite of risk and compliance solutions to financial institutions worldwide, was launched today. Fortent combines Searchspace, a leading anti-money laundering solution, and Semagix, a pioneering Know Your Customer and Enhanced Due Diligence product, into a single brand.... |
Majority of Data Thefts From Careless Mistakes By Employees
Palisade Systems has announced that a year to date audit of data theft cases it conducted found that employees represent the largest and costliest threat to organizations that store, send or access consumers' personally identifiable information such as Social Security Numbers, bank account numbers, healthcare records,... |
China's SmartPay Launches 'Lottery in Your Palm'
SmartPay along with partners China Unicom Guangdong and Guangdong Kingold Telecommunications have announced the launch of ''Lottery in your Palm'', a jointly developed mobile lottery service for consumers which allows for purchase, payment, prize award announcements, and award information.... |
PayPal's Virtual Debit Card
In an article mostly about Google's rumored launch of a payment service, Business Week's Robert Hof also mentions that next month PayPal will begin testing a "virtual debit card" for use on web sites that don't accept PayPal directly. According to Hof, using a small toolbar downloaded to their browser, PayPal users will be able to get a one time-use MasterCard card number linked to their PayPal... |
MasterCard Unveils New Corporate Name and Brand Identity
MasterCard has announced that its principal operating subsidiary, MasterCard International, is introducing a new corporate name, MasterCard Worldwide. The company has also unveiled a new corporate signature and a new corporate tagline, The Heart of Commerce, "to reflect the company's globally integrated structure and its strategic vision of advancing commerce... |
eBay Could Ban Google's GBuy As Payment Method
Ina Steiner reports for AucitonBytes.com on eBay's Safe Payments Policy introduced last October and speculates that it seems unlikely that eBay would allow its sellers to advertise any new Google payment service in their eBay listings - at least... |
Headline News - June 28, 2006
Washington Post: OMB Sets Guidelines for Federal Employee Laptop Security Peppercoin Webcast Examines Hot Topics and Issues in Small Payments: Contactless, Card Acceptance and Loyalty Australia: Bankers to take on RBA over payment regulation ABN Amro signs up for strong authentication EFT Canada & Secure Payment Systems Offer Gift & Loyalty Card Programs to Canadian Merchant Channels Banks see too much regulation as big risk -survey Someday Everyone Will Get the Gift They Want: Wells Fargo Reports Record Gift Card Sales Asia Payment Systems Updates Shareholders on Enhanced Growth Strategy Business Week: Google's eBay Challenge CNET News.com: Open your wallet... |
Ten Possible Consequences of Google's GBuy
eWeek's Steve Bryant writes in his Google Watch blog about the implications he sees from a Google entry into payments - what the media has been calling GBuy and speculating is planned for announcement on... |
BayPay Meeting: Thursday, June 29 - Small/Micro Payments
Are you a payments professional living in the San Francisco Bay Area? The next meeting of BayPay, the payments professionals' networking group for the San Francisco area is being held this Thursday, June 29, beginning at 6 PM in Mountain View. This meeting's topic is small/micro payments - speakers are Mark Friedman, CEO of Peppercoin and Doug Knopper, CEO of Bitpass. There's ample time alloted at each meeting for networking with other local payments professionals. If you're not already a BayPay member and are interested in attending this Thursday's meeting, please contact us for more information and details about meeting... |
Do Consumers Need More Ways To Pay Online?
Javelin Strategy & Research has announced the results of the 2006 Annual Javelin Consumer Payment Poll commissioned by PaymentOne - concluding that the majority of online consumers would buy more if safer and more convenient payment options were offered. Javelin reports that the Payment Poll responders said they would each spend $960 more per year if better payment options were available online, which, based on over 15 million active online buyers, translates to $14.4 billion of lost revenue opportunity for digital... |
Postponed: Senate Committee Credit Card Interchange Hearing
The US Senate Committee on the Judiciary earlier this month had announced it would be holding a hearing tomorrow on the subject of credit card interchange fees. According to the Committee's website this afternoon, that hearing has been postponed - and no new date has been set for the... |
Skipping the Line: Mobo
Springwise.com features Mobo, a New York-based company that lets customers order food remotely and pay for their food order via SMS on the mobile phone. "Every Mobo restaurant has a separate Mobo Pick Up counter, so when their order is ready, Mobo users can walk straight to the counter, state their name and last four digits of their phone number, and pick up their... |
Cellfire Launches Free Mobile Coupon Service Nationwide
Cellfire has announced that its free mobile coupon service is now available to cell phone users across the country. According to the company, "household-name retailers such as T.G.I. Friday's and Hollywood Video are among the partners deploying the money-saving solution to... |
Giesecke & Devrient, Nokia NFC Application Management JV
Giesecke & Devrient and Nokia have announced an agreement to form a joint venture to provide services to the NFC ecosystem by enabling consumer applications, such as credit cards or transport tickets, to be securely and easily downloaded over-the-air to NFC enabled mobile... |
SVPCO Low-Cost Option For Exchanging Check Images
SVPCO - Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company L.L.C., has announced the availability of SVPCO Gateway DTA, a new, low-cost option for gaining access to the SVPCO Image Payments... |
Broadcom: World's First Secure Processor with Integrated RFID
Broadcom has announced the world's first secure processor with integrated radio frequency identification (RFID) technology, as part of the company's Trusted Authentication Initiative. According to Broadcom, the new device is "designed to secure personal authentication transactions associated with physical access, logical access (into a PC or network) and contactless payment applications." Broadcom also said it is partnering with RSA Security to embed its RSA SecurID technology within the BCM5890 secure processor.... |
Coke Bottler, MasterCard To Try Cashless Vending
Chad Terhune reports for the Wall St. Journal on plans by the Philadelphia Coca-Cola Bottling Co. to "equip 1,000 vending machines in the Philadelphia area to accept credit and debit cards" - including MasterCard's PayPass contactless... |
Merchant 'Steering' At POS And Debit Issuer Revenue
David Breitkopf writes for the American Banker about the effect that merchants who "steer" their customers at the POS to use PIN-based debit have on the interchange revenue received by the card-issuing bank. Brietkopf cites industry analysts who report that issuers are concerned about the steering merchants are doing on debit transactions. To help reduce the revenue lost from steering, some issuing banks encourage their cardholders to prefer signature-based debit transactions over PIN-based by offering rewards programs.... |
Headline News - June 27, 2006
Wells Fargo President, COO Stumpf Elected to Company's Board U.S. Bank Joins MoneyPass ATM Network, Gives Customers Surcharge-Free Access to 12,000 MoneyPass ATMs JPMorgan Chase Opens New Image Deposit Center in Shanghai; Center Helps Financial Institutions in China Lower Costs Without Changing Cash Letter Operations Bank of America To Turn Dusty Sandlots Into Fields of Dreams Through Its Keep the Change(TM) Savings Program xTech Acquires The Credit Index AmbironTrustWave and Fifth Third Processing Solutions Partner to Bring PCI Compliance Services to Merchants Guardian (UK): Consumers cut card debt JCB International Appoints Kenji Seto as Senior Deputy President Note: Throughout the... |
Online Banking Gets More Sophisticated
Jane Kim writes for the Wall St. Journal about how some banks are ramping up online banking by adding new services and features - including a new service to be introduced by Yodlee that will allow consumers to both track activity across multiple accounts and institutions as well as making same day bill... |
Google Gets Ready to Test GBuy
Mylene Mangalindan reports for the Wall St. Journal in Tuesday's edition saying that Google is planning to introduce a test version of its GBuy online payment service later this week. Mangalindan describes in the article how the GBuy service is expected to work - with icons placed in text ads displayed in search results highlighting those advertisers that are prepared to accept GBuy payments - although details could still change prior to the actual announcement of the... |
A Look At Peppercoin
Glenbrook's Russ Jones has been following Peppercoin since 2002, monitoring the companys progress and the evolution of its strategy. Russ has just published a new research brief titled "Peppercoin in the Payments Industry - The Emerging Small Payments Market". In this new research brief Russ looks at Peppercoins current capabilities, activities with merchants, and value proposition along with what he likes about Peppercoin, some concerns, and other observations. You can request a copy of the research brief from Russ over on the Glenbrook web... |
Bank of America Starts National Rollout Of New ATMs
Bank of America has announced that its customers will be able to put checks and cash into ATMs without an envelope or deposit slip when they use new ATMs being deployed in a national rollout starting this week in the Washington, D.C., and Atlanta... |
Datacard Group, Dynamic Card Solutions Partner
Dynamic Card Solutions has announced a preferred vendor agreement with Datacard Group that will expand joint marketing efforts in the instant issuance market segment by designating DCS' CardWizard technology as a Datacard Group preferred software solution and Datacard Group as a preferred card personalization system and services provider for... |
Wal-Mart's China Credit Card Plans
Jonathan Birchall and Franceso Guerrera report for FT.com that Wal-Mart, the world's largest retailer, is developing plans to launch its own credit card in China in partnership with GE Money and Shenzhen Development Bank. According to the article, "Wal-Mart declined to comment on its partnership with SDB, saying it had not announced any plans in China to launch a credit... |
First Data's Money Network, ADP Paycard Solution
Money Network, a First Data Corp. company, and ADP Employer Services have announced a strategic agreement to provide a co-branded paycard, TotalPayCard, that "combines the resources and expertise of two industry leaders and will provide businesses of all sizes with a robust paycard... |
Privacy vs. Convenience
San Francisco Chronicle Staff Writer Jonathan Curiel reports on Pay By Touch's biometric-based payment system in an article titled "The Last Days of Privacy - As technology makes life richer and easier, we leave a trail of information that is susceptible to prying... |
Headline News - June 26, 2006
TSYS Prepaid Names Payments Veteran James Accordino as President Minneapolis Star-Tribune: Getting proactive in identity-theft battle Washington Post: Bank Tries to Make ATMs More Enticing for Deposits Guardian (UK): Tesco tackles card skimmers EDS Gets $700M Deal From Bank of America In the Zopa zone Teradata Turns Risk Management Into Opportunity for Financial Services Interac Certifies VeriFone Countertop and Wireless Vx Solutions For Canadian Chip Card Specifications Revolving Bankcard Debt Index Now Available from MKTG Services Chockstone Works with MasterCard International to Expand and Enable PayPass Solution PayPal's Dan Levy Talks to AuctionBytes about Trust & Safety Issues Digital Dispatch... |
Banktown USA - Charlotte, NC
Dan Fitzpatrick writes for Pittsburgh Post-Gazette about "how Charlotte became a banking giant, outpacing Pittsburgh's banks." According to Fitzpatrick, "the Charlotte banks pressed ahead with dozens and dozens of acquisitions across the country, taking on new names with each deal and eventually turning this little-known textile and distribution hub into BankTown USA." Charlotte, of course, is home to Wachovia and Bank of... |
Haggling With Credit Card Issuers
Gregory Karp writes for the Allentown Morning Call about how consumers can haggle for betters terms from their credit card issuers. According to Karp, "it's cheaper for card issuers to cut you a break than lose your business and have to find a new customer. All you have to do is ask a card company to lower your interest rate, raise your limit or waive your... |
UK: Credit Card's 40th Birthday
Ian Pollock reports for the BBC on how 40 years ago "an old converted shoe and boot factory in Northampton was the site for a revolution in the nation's borrowing and spending habits 40 years ago. It was there that 30 new bank clerks, freshly recruited the month before, joined a team of ten or so managers from Barclays bank to launch the country's first ever credit card - the Barclaycard." David Smith writes for the London Times and takes another look at the last 40 years of credit cards in the... |
Bank of America vs. JP Morgan Chase?
Yesterday, Eric Dash of the New York Times reported on an interview he had with Bank of America chairman and CEO Ken Lewis who spoke about the success of the integration of MBNA into BofA, plans to launch new affinity bank products (physicians as the first group likely to be targeted), and who might be a bigger competitor in the future. Lewis mentioned Wachovia on the east coast, Wells Fargo on the west coast, Citibank - who he says is a small player in terms of retail distribution - and that leaves JP Morgan... |
Getting The Best Exchange Rate
What a mess the card industry has made of one of its former features - being able to use your bank cards when traveling internationally and knowing that they'd work and that you were getting the best possible deal on foreign currency conversion in the process. That simple and consistent value proposition went out the window a couple of years back when credit card issuers began aggressively surcharging international transactions and more recently as some bank debit card issuers have limited international acceptance and access to local cash at ATMs because of fraud concerns. David Kelly writes in today's New... |
NFC: The Killer App For Mobile Payments?
In an article on BillingWorld.com titled "Smart Phones Could Drive New Telecom Business Model", author Susana Schwartz writes about the potential for mobile payments and challenges mobile operators to realize that the time has come for them to "determine what role they intend to play, and how to drive merchants and content providers to their customers and networks." According to Schwartz, "the killer app could be the RFID-driven capabilities fostered by the NFC chips, which will allow users to quickly drill down into financial transactions over their phones through machine-to-machine interaction between the phone and banking... |
Butterfly From American Express
American Express has introduced Butterfly, a compact and stylish companion card for American Express Gold Card members. The card literally folds up into a slim metal keychain-like... |
SWIFT Statement On Compliance Policy
In response to articles in today's New York Times, Washington Post, and Wall St. Journal about terrorism investigations and the role of SWIFT, the organization has published a statement on its web site that concludes "The SWIFT Board and Executive have done their utmost to get the right balance in fulfilling their obligations to the authorities in a manner protective of the interests of the company and its... |
Changes In Use Of Electronic Payments: 1995-2004
Loretta Mester, senior vice president and director of research at the Federal Reserve Bank of Philadelphia, has published an article including an updated set of tables (PDF) derived from the Federal Reserve's Survey of Consumer Finances on the usage of various forms of electronic... |
Mobile Commerce: Slow To Get Started
Danny Bradbury reports for the Financial Times on mobile commerce - and comments "a few years back, many people thought that by now everyone would pay for soft drinks by waving a cellphone at a vending machine. In reality, mobile commerce, or m-commerce, has been slow to get... |
Headline News - June 23, 2006
Motley Fool: Your Credit Score May Be Costing You Big Bucks VeriFone and Lipman Receive DOJ Request for Additional Information Rampant Identity Theft in Washington: One in Nine Households Victims of Identity Theft in 2005 Digital Insight Announces New Organizational Structure to Capitalize on Growth Potential of Product Partnerships and Distribution Alliances Western Union Expands Initiative to Promote Community, Economic Development in Mexico New York Times: Bank Data Sifted in Secret by U.S. to Block Terror UK: Credit card debt is rising fastest among the retired Note: Throughout the day, as Payments News happens, this post is... |
Money-Service Firms Seek To Rebuild Ties With Banks
Robert Schroeder reports for MarketWatch on a hearing held yesterday by the House Committee on Financial Services - Subcommittee on Financial Institutions and Consumer Credit titled "Bank Secrecy Acts Impact on Money Services Businesses" where concerns were expressed about some banks ending their relationships with money-service businesses because of regulatory concerns. The prepared remarks from several speakers at yesterday's hearing are available from the Subcommittee's web site. The comments of Philip Milne (PDF), president and CEO of MoneyGram International, are particularly interesting to read - ..."Two months ago Bank of America informed MoneyGram that it would be terminating its long-term... |
UK: Consumers Like Pay By Touch
Dave Friedlos reports from the UK on consumer reaction to pilots of Pay By Touch's biometric payment service where surveys report that 85 per cent of consumers said the technology is more convenient than chip-and-PIN and 75 per cent felt it is more secure. He also reports that there currently is "little enthusiasm among other major retailers for the... |
A Look At Postepay - Prepaid Card Papers Italy with Plastic
Maureen Kline reports for Business Week about Massimo Sarmi, CEO of Poste Italiane, the Italian postal service, and his very successful Postepay cards - a "prepaid, rechargeable Visa or MasterCard that is rapidly becoming the credit card surrogate of choice for Italians without plastic, credit ratings, or even bank... |
Experian Acquires Eiger Systems
Experian has announced the acquisition of UK-based Eiger Systems, a provider of bank account validation and payment processing software.... |
Headline News - June 22, 2006
Entrust Releases 'How the Heck Are We Going to Meet FFIEC?' Podcast San Francisco Chronicle: Credit scoring for sale Alliance Data Signs Multi-Year Agreement With Bealls and Burke's Outlet Stores Shreveport, LA: Local credit card fraud case puts spotlight on risks Digital Transactions: With New Web Service, Xoom Targets the Giants of Money Transfer Note: Throughout the day, as Payments News happens, this post is... |
Discover 'Surprised' By Low Credit Costs
David Enrich reports for MarketWatch that Morgan Stanley's "Discover credit- and debit-card unit racked up record profits in the second quarter. But a key driver of the results - the smaller amount that Discover set aside to cover possible bad loans - might not... |
Xign Announces Settlement Benchmarking Service
Xign Corporation has announced Xign Network Insight that the company claims is "the first network-based benchmarking service for tracking and improving financial settlement performance."... |
The Nilson Report - Issue 858
The latest Nilson Report has arrived featuring an in-depth look at general purpose cards in Asia/Pacific (subscription only). Among other feature articles, this issue also has an article discussing credit card fraud in the US, merchant debit cards such as Debitman, web authentication from 41st Parameter, and a continuation from the last issue re: credit card debt... |
US Bank Acquires Schneider Payment Services
US Bank has announced that it will purchase Schneider Payment Services (SPS), a division of Schneider National, Inc. The acquisition will in excess of $7 billion in freight payments to US Bank's PowerTrack portfolio, which the bank says will make its PowerTrack the "clear leader in freight... |
Japan: Usury Plan Worries Credit Card Firms
The Asahi Shimbun reports from Japan on concerns among Japanese credit card companies that they stand to "lose billions of yen a year in revenue if the government goes ahead with plans to plug a legal loophole that allows them to charge nearly 30 percent interest per annum on consumer... |
First Data's STAR Renews Golden 1 Credit Union
First Data Corp. has announced it has "renewed its agreement with the sixth-largest U.S. credit union, Golden 1, to provide STAR Network access and PIN-debit processing for its more than 280,000 U.S. cardholders and its 271... |
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Brigid Delaney reports for the Sydney Morning Herald on the rapid increase in consumer credit card debt in Australia and increasing concerns that the "house of cards" may all come tumbling... |
Book: First Data Gave Feds Records
Andy Vuong reports for the Denver Post on details published by author Ron Susskind in his new book "The One Percent Doctrine" saying that First Data Corp. reportedly "gave the FBI and CIA unfettered access to data on millions of customers shortly after the Sept. 11, 2001, terrorist attacks". Yesterday's New York Times also reviewed Susskind's book and also mentioned Susskind's comments about First... |
A Look At Xign
Ben Semmes writes for the Tri-Valley Herald about Pleasanton, CA-based Xign, a business to business payment processor founded by CEO Tom... |
Headline News - June 21, 2006
Universal Default: Bill meant to protect credit card holders sent to Pataki for signature Malaysia's Maybank launches mobile banking service EmigrantDirect Raises Savings Rate to 4.80 Percent; Reduces Minimum Time for Flexible 5 Percent CD to Three Months PayPal Mobile and MX Telecom to Present a Joint Case Study on Mobile Payments at MoMeMo June 26th in New York City Visa says ATM breach may have exposed data Business Signatures Rapidly Deployed Fraud Monitoring Alternative to Multi-Factor Authentication Enables Financial Firms to Achieve FFIEC Compliance Digital Insight Expands Internet Banking Relationships With Key Credit Union Clients Bank of America Names... |
Chase Rolls Out Contactless Visa Debit Cards with 'blink'
Chase, the consumer banking brand of JPMorgan Chase, has announced the rollout of 1.8 million Visa debit cards with blink technology in New York, New Jersey and Connecticut - saying it is the first Visa issuer to offer contactless payment capability on its debit... |
BB&T Makes EasySend Money Transfer Free
BB&T has announced it will begin offering free international money transfers throughout its banking network for clients who have a checking account, savings account or payroll card with... |
The High Cost Of Being Poor
On Sunday, the Buffalo News ran the first story in a four part series by staff reporters Rob Watson and Jonathan Epstein about the "high cost of being poor." The story introduction commented "every day, the working poor face a kind of Alice-in-Wonderland reality where those who can afford the least pay the most." A must read.... |
Playing The Balance Transfer Game
Mary Hunt of Everyday Cheapskate writes about her colleague's strategy to accept zero interest balance transfer offers from card issuers, write himself a convenience check that's included with the offer, deposit it into his bank account, wait for it to clear, transfer it to his high yield Emigrant Direct savings account - and proceed to earn high interest on the proceeds while making minimum payments at zero interest for a year. He says this strategy yields him about $430 in interest income over the course of a year on about $15,000. She says he's a financial daredevil for playing this... |
Citi Contributes $100MM in College Savings to Upromise
Citi Cards has announced that its college savings contributions to Upromise members have reached $100MM in contributions in under five years. Upromise is a service that allows families to save a percentage of their everyday spending as college savings with more than 450 participating... |
UK's OFT To Probe MasterCard, Visa Interchange Fees
The UK's Office of Fair Trading has "consented to the Competition Appeal Tribunal (CAT) setting aside the OFT's September 2005 decision concerning MasterCard's historic interchange fee arrangements. The OFT will now focus its resources on tackling both MasterCard's and Visa's current UK interchange fee arrangements, leaving it to affected third parties to contest the lawfulness of the old arrangements, if they choose to, in private court... |
Headline News - June 20, 2006
American Express Incentive Services, Maritz Inc. and eFunds Prepaid Solutions Expand Business Relationship Oberthur Card Systems and HID Global Announce FIPS 201 Certified ``Tri-Interface Card'' Digital Transactions: Observers Split over How Much Google Will Compete with PayPal Montreal: Cops crack debit card fraud ring Bills.com Launches as Complete Resource for Personal Finance Information and Savings Givex, Shift4(R) Complete Gift Card Integration First Data Provides Payment Processing to A&P Grocery Stores The Interra Project Adopts Nietech Corporation Technology Platform for Operating System That Connects and Benefits Local Communities New Consumer Security Device From GuardID Systems(TM) Available Immediately Mobile Industry Leaders to... |
Micropayments: The Final Frontier For Consumer Payments
James C. McGrath of the Payments Cards Center of the Federal Reserve Bank of Philadelphia has published a new discussion paper titled "Micropayments: The Final Frontier For Consumer Payments" (pdf). The paper concludes that,"despite some structural limitations, the existing payment card infrastructure and related products are likely to be the primary vehicles for electronifying micropayments in the U.S. in coming years."... |
A Master Of Bank Note Engraving
Zachary A. Goldfarb writes for the Washington Post a profile of master engraver Christopher D. Madden at the U.S. Bureau of Engraving and Printing as he's transitioning from traditional engraving techniques to applying computers to the very specialized... |
Annals Of Brand Marketing: Bono's Red
BrandWeek's Jim Edwards takes a look at the upcoming launch of Red in the US. According to Edwards, "Motorola, The Gap, Emporio Armani, Nike's Converse and American Express will jointly launch a new brand in the U.S. covering a range of their products in conjunction with U2 singer Bono in the fall. A portion of the sales of the brand, Red, will benefit The Global Fund to Fight AIDS, tuberculosis and malaria."... |
Xoom Goes Wholesale
Xoom has announced a new turn-key solution, Xoom WebAgent that enables banks, credit unions, retailers and money transfer operators to build or expand their money transfer business without worrying about the complex logistical, technical and legal hurdles associated with operating a remittance business. Xoom announced that one of the first companies to begin using WebAgent is the Midwestern bank... |
Yodlee Launches Bill Pay with a Twist ... Card Payments
Yodlee has announced that Yodlee BillPay now lets consumers pay bills with credit or debit cards, not just ACH - "enabling financial institutions to earn interchange revenue, while consumers can earn rewards points and benefit from faster... |
Australia: Regulated Credit Cards Losing Market Share
Richard Gluyas reports for The Australian on a decline in the market share of credit cards affected by the Reserve Bank of Australia's regulation of interchange fees. According to Gluyas, "the share of consumer purchases held by the so-called "four-party" schemes, including Visa, MasterCard and Bankcard, fell for the third consecutive month, down from 84.8 per cent in January to 82.9 per cent in... |
A Look At NetSpend
Lori Hawkins writes for the Austin American-Stateman about NetSpend, one of the fastest-growing prepaid-card companies. According to Hawkins, NetSpend's cards are "sold at about 10,000 convenience stores, gas stations and check-cashing centers. The privately held company says it has 225 employees and annual revenue in the $75 million to $125 million range. It has been profitable the past two years, officials... |
Gift Cards' Strings Tie Shoppers In Knots
Jim Sullinger writes for The Kansas City Star about the terms and conditions associated with many gift cards - and the fees that often apply. "Many cards expire after a few months or years and become worthless. Others charge an inactivity fee a small monthly deduction from the value of the card if they are not used within a certain time limit. In some cases, these terms are not disclosed on the card." Sullinger also reports on a new law affecting gift cards that was recently passed in Kansas and takes effect on January 1,... |
BizPay On Demand ACH Services
BizPay Direct has announced commercial availability of both its Deposit on Demand (DOD) and Payment on Demand (POD) product solutions.... |
Headline News - June 19, 2006
UK: APACS publishes guide on using credit and debit cards abroad SmartMetric Card With Embedded Fingerprint Scanner Is Foolproof Internet Payment/Transaction Solution MasterCard Pleased that CAT Quashes OFT Decision m-Commerce Company, ClassifEye, Secures Funding from Nobska Ventures for Biometric Authentication Using Camera Phones Note |
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