Fraud is always going to be present, but debit cards remain safest way to carry out transactions; Victoria Advocate

Fraud is ever-present, but debit cards are safe way to carry out transactions. (Read More)

Blackhawk Network Expands Prepaid Reload Network; Press Release

Allows Consumers A Safe and Convenient Way to Load Funds to their Prepaid Cards with the Reloadit Pack. (Read More)

Beware That New Credit-Card Offer; The Wall Street Journal

Amid all the junk mail pouring into your house in recent months, you might have noticed a solicitation or two for a "professional card," otherwise known as a small-business or corporate credit card. (Read More)

Discover Card Acceptance Hits New Record; Credit Card Guide

Discover credit cards have long had an uphill battle in winning over consumers, despite pioneering one of the most attractive cash back programs in the industry. (Read More)

Korean retailers increase acceptance of China cards; JoongAng Daily

Guo Ming, a Peking University student, was recently looking for cosmetics her friends had asked her to buy during her trip to Seoul. (Read More)

Seventh Annual Open Loop Prepaid Market Assessment; Mercator Advisory Group Report

The Open-Loop prepaid card market is bigger than anyone thought and still growing despite the recession that continues to grip the country. In its Seventh Annual Open-Loop Benchmark Report, Mercator Advisory Group has revised its market size numbers upward, particularly in its cash access segments, to reflect newly available data and increased reporting by the industry. In addition this year's report has found that several segments it tracks have continued to grow in the face of a poor economy. (Read More)

Prepaid Preconceptions; Digital Money Blog

“I've been involved in a few discussions about prepaid cards over the last couple of weeks. One of those discussions was about whether some prepaid products would remain viable under stricter regulatory conditions. Why would regulators want to increase the regulatory burden, and therefore cost, of products aimed at the unbanked? Well, in the US, prepaid cards are the focus on attention because of their supposed criminal use.” David Birch (Read More)

Fed delays gift card rules: Bankrate.com

Yesterday the Federal Reserve Board issued an interim final rule that postpones certain aspects of the gift card rules required under the Credit CARD Act to take effect on Aug. 22, 2010. (Read More)

Lower Income Consumers Use Debit Cards Markedly More, MasterCard Says: Credit Union Times

More evidence has come to light that suggests credit unions with more lower income members may take a deeper hit from the upcoming cap on debit card interchange than CUs with fewer lower income members. (Read More)

Divulging Details of China's Debit-Dominated Ecosystem: PYMNTS.com

In this exclusive NEXTcast interview, David S. Evans is joined by Jing Yang, Director of Corporate Strategy at TSYS. Jing has had numerous roles since joining TSYS in 2001, most notable was her role in the establishment of CUP Data, TSYS' joint venture with China Union Pay. (Read More)

Banks and credit unions bottom feeding on debit card overdrafters? CreditCards.com

If you've had problems managing your debit cards in the past, racking up those $30 or $35 overdraft fees every time you overdrew your account, you might be getting a call from your bank or credit union in the next week or so. That is, if they haven't already called you. (Read More)

Payments Trends in South Korea: Out with the Old, In with the New; Report Published by Celent

In recent years, South Korea has seen the ascendance of new methods that are redefining its payments market. In 2009, a record-breaking 53.4% of private consumption was paid for with a card of some type. (Read More)

MasterCard Teams with Acculynk to Give Issuers Option to Use PaySecure for Enhanced Debit E-Commerce Authentication; Source: Acculynk

PaySecure provides consumers the option to use PIN debit on the Internet with a secure, software-only service that requires no enrollment or redirection. (Read More)

SCL Supports Co-op’s Launch of Channel Islands’ First Prepaid Currency Card

To broaden Jersey’s travel money options, the Channel Islands Co-operative Society (CICS) has launched the Travelmaker Card – the first ever prepaid currency card available in the Channel Islands.    The new service is supported by UltraPoS software from SCL, who also provided expert consultancy and programme planning to make the new platform a success. (Read more) 

First Data Study Reveals Banks Missing Out on Major Opportunity to Improve Profitability of Their Debit Programs; Source: First Data

Opportunities Can Be Found by Applying “Credit” Strategies to Debit Programs; Fraud and Increased Regulation Seen as Threats to Growth; Innovation Greatest in Emerging Markets. (Read More)

Visa Launches Campaign Promoting Prepaid Card Benefits for Financially Underserved Consumers; Source: VISA

Integrated marketing campaign to raise consumer awareness, drive usage and support growth of Visa partner programs. (Read More)

Uganda: Why Plastic Money Should Be Popularized; Source: allAfrica.com

Kampala undefined Last week Commonwealth Financial Solutions (U) Ltd unveiled its Zipp card, a plastic debit card that will allow users to hold, transfer cash and transact at designated places. (Read More)

Discover Financial Services Announces International Alliance with Serbia's DinaCard; Source: Discover

Agreement Will Boost Transaction Volume on the Discover, Diners Club International(R) and PULSE Networks (Read More

How Is the Credit Card Industry Making Money? By Peter Atwater, Minyanville

Some would have you believe it's skills, but for American Express, Citigroup, and others it's sheer luck. (Read More)

Look What Congress Just Did to the Debit Card Market; By Morgan Housel, The Motley Fool

Like most of us, I want to see Congress pass a strong financial reform bill. I want it to have teeth. End too big to fail. Curtail systemic risk. Restrain leverage. I want to let Wall Street know that it is, as one Fool put it, sunset for the sociopaths. (Read More)

Fitch sees 10 percent yield cut from card rules; Source: Bloomberg Businessweek

New restrictions on credit card fees will likely cut about 10 percent from the amount that U.S. issuers earn on their card portfolios in the second half of this year, Fitch Ratings said on Wednesday. (Read More)

Big Win for Small Banks in Overhaul; BY ROBIN SIDEL, The Wall Street Journal

Some of the smallest U.S. banks are heading toward a big boost from financial-overhaul legislation. (Read More) 

BofA, Wells Fargo Face Biggest Hit From Debit Cap, Moody’s Says; By Craig Trudell and Peter Eichenbaum, Bloomber Businessweek

Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co., the three biggest U.S. debit-card issuers, may face $1.38 billion in annual lost revenue from a proposed cap on “swipe” fees, said Moody’s Investors Service. (Read More)

FTC Obtains Court Order Halting International Scheme Responsible For More Than $10 Million In Unauthorized Charges On Consumers' Credit and Debit Cards; Federal Trade Commission

At the request of the Federal Trade Commission, a federal court has halted an elaborate international scheme that used identity theft to place more than $10 million in bogus charges on consumers’ credit and debit cards, pending a trial. More than a million consumers were hit with one-time charges of $10 or less, and their payments were routed through dummy corporations in the United States to bank accounts in Eastern Europe and Central Asia. (Read More)

How Russell Simmons Out-Lobbied Big Banks; By Robert Schmidt and Patrick O'Connor, Bloomberg Businessweek

The hip-hop superstar also sells debit cardsundefinedand won a fee exemption for his UniRush card. (Read More)

FinCEN Proposed Rule Seeks Greater Transparency for Prepaid Access to Help Curb Money Laundering, Terrorist Financing. Plan Seeks Balance of Innovation with Protection (Read More)

New Research Provides Detailed Overview of Complex Prepaid Card Regulatory Landscape

Understanding Prepaid Regulation: A Framework for Asking the Right Questions (Read More)

Consumers to Pay More for Merchants’ Debit Card Benefits; Source: MasterCard

MasterCard said today that it is disappointed that the Financial Regulatory Reform Conference Committee has chosen to shift debit card acceptance costs from retailers to consumers. (Read more)

MasterCard Partners in Prepaid Set to Drive Global Innovation and Growth; Source: MasterCard

MasterCard Worldwide today launched MasterCard Partners in Prepaid – a new initiative to stimulate MasterCard’s collaboration with partners and customers around the world and drive growth in prepaid. (Read more)

S.D.: Preserve bank fees; By Anna Bahney and  Ledyard King, ArgusLeader

Crackdown could curtail credit card services, governor and senators say. (Read More)

Consumer 10.0: A kerfuffle over 'fee creep'; By Jeff Gelles, The Philadelphia Inquirer

Those are just three of the overheated attacks from a single e-mail denouncing a provision in the Senate's financial-reform bill: an amendment, proposed by Sen. Dick Durbin (D., Ill.), reining in debit card fees. (Read More)

Debit-card fee debate could cost consumers By Jennifer Waters , The Wall Street Journal

Most shoppers don't realize they are in the middle of a heated debate over the fees merchants pay to banks on debit-card transactions, but the outcome may bring steeper costs and fewer rewards for consumers. (Read More)

Durbin Cedes Ground on Debit Caps as Support Erodes By Peter Eichenbaum and Patrick O’Connor, Bloomberg

U.S. Senator Richard Durbin, faced with growing opposition and slipping support for his proposal to cap debit-card “swipe” fees, said he is working to exempt prepaid cards governments use to distribute benefits. (Read More)

Durbin Vows to Win Debit-Fee Cap, Calls Objections `Manageable';  By Peter Eichenbaum, Bloomberg

U.S. Senator Richard Durbin, the majority whip, said objections to his proposed cap on debit-card transaction fees are “manageable” and that the card industry fomented opposition by intimidating small banks. (Read More)

Behind Wal-Mart’s Stake in Its Prepaid Card Partner, Green Dot; Source: Digital Transactions

(June 17, 2010) Utter the name “Wal-Mart” and heads turn in the payments industry. That happened yet again with the revelation this week that Wal-Mart Stores Inc., the world’s largest retailer that tried and failed to get into the banking business, had taken an equity interest in Green Dot Corp., a major player in the prepaid card industry and a key partner in offering prepaid card services to Wal-Mart’s customers. Green Dot is planning an initial public offering and just happens to be in the process of buying a bank.  (Read More)

Interchange Travels Up Main Street to Federal Government; Source: NACS Online

Not even the government is exempt from negotiating fair and reasonable interchange rates; NACS retail member sheds the light on how swipe fees impact small businesses. (Read More)

June 15, 2010

Retailers urge ministers to stop 'excessive' card charges; By James Thompson, The Independent

Retailers have called on the UK Government to keep to its word on cracking down on "irresponsible banking " by cutting the excessive charges imposed for processing plastic card transactions. (Read More)

June 15, 2010

Savings Account + Prepaid Debit Cards = Great Banking Alternative; Source: getdebit.com

Prepaid debit cards just took a giant step closer to replacing traditional bank accounts. MPower Labs and its portfolio company Mango Financial, Inc. today announced that they will be offering a high interest savings account option for holders of the MangoMoney prepaid MasterCard.

June 15, 2010 Press Release

Digital Currency "The Future of Government Payments" Source: VISA

Speakers at THE HILL Briefing in Washington, D.C. Discuss Benefits of Electronic Payments – Citing Security, Convenience and Hundreds of Millions in Taxpayer Savings by Migrating from Paper (Read More)

June 15, 2010

Walmart Canada Bank launches Walmart Rewards MasterCard; Source: Social Media Release

New credit card allows cardholders to earn Walmart Rewards on everyday spending to redeem on everyday needs and wants. (Read More)

June 15, 2010

Visa generates $1-trillion credit card transactions; Source: The Philippine

Visa Inc. has reported a $1 trillion in total volume generated on all cards across Asia Pacific end March 2010, an increase of 13.2 percent over the same period last year. (Read More)

June 14, 2010 Press Release

Overwhelming Majority of Americans Reject Anti-Consumer Debit Amendment Hidden in Wall Street Reform Bill; Source: VISA

Eighty-three Percent of Americans Oppose a Provision of Financial Reform Legislation that Passes Costs of Card Acceptance onto the backs of Consumers (Read More)

June 14, 2010 Press Release

Citi Sells Canadian MasterCard Business; Source: Citi

Citi today announced that it has signed a definitive agreement to sell its Canadian MasterCard business to the Canadian Imperial Bank of Commerce.  (Read More)

June 10, 2010

MasterCard’s Banga Says Card Proposals May Survive (Update1); By Peter Eichenbaum’ Bloomberg Businessweek

MasterCard Inc.’s Ajay Banga, who takes over next month as head of the payments network, said Congress probably will adopt some of the proposed rules for debit and credit cards in its financial industry overhaul. (Read More)

June 10, 2010 Press Release

CEOs Make First-Ever Joint Appearance to Express Opposition to Debit Amendment; Source: PRNewswire

CUNA CEO Dan Mica, ICBA CEO Camden Fine, and NAFCU CEO Fred Becker Expressed Opposition to Debit Fee Amendment that Will Cripple Small Financial Institutions, Consumers. (Read More)

June 10, 2010

Credit Card Issuers Used Profiling, Fed Says; By Bill Hardekop, The Street

A Federal Reserve study has revealed that a handful of credit card issuers have used transaction-profiling in making decisions about credit limits and interest rates of cardholders. (Read More)

June 9, 2010

Durbin’s Curb on Debit Fees Draws Fire for Hurting Consumers; By Peter Eichenbaum, Bloomberg Businessweek

U.S. Representative Debbie Wasserman Schultz, a member of the House majority’s leadership team, said a Senate proposal to limit fees banks collect with each swipe of a debit card will enrich merchants at the expense of consumers. (Read More)

Seeking ‘Stickiness,’ MasterCard Rolls out Online Bill Pay for Prepaid; Source: Digital Transactions

MasterCard Inc. this week rolled out a service that lets users of MasterCard-branded prepaid cards pay bills at the card issuer’s Web site or by phone. Aimed squarely at the underbanked population, the service relies on the MasterCard RPPS network for links to biller accounting systems and Aliaswire Inc., a 5-year-old Cambridge, Mass., payment-gateway provider, for integration into issuer and program-manager sites. The new service allows cardholders to schedule and make bill payments, monitor payments, view posted payments, and set reminders.  (Read More)

June 8, 2010 Press Release

The Durbin Amendment: Impact Analysis; Source: Mercator Advisory Group

In-depth study on Durbin's Card Swipe Fee Amendment necessary to prevent unintended consequences and significant disruption of payment eco-system. (Read More)

June 7, 2010

The Fates and Faces of the Affected; Source: The Wall Street Journal

As the System Gets Its Biggest Overhaul in 80 Years, the Impact Runs From Wall Street to Main (Read More)

June 7, 2010

UnionPay goes to war with Visa; Source: Inside Retailing

Chinese card issuer UnionPay hit out at Visa on Friday after the US giant told banks to stop using the Chinese firm's system to process overseas transactions on cards bearing both firms' logos.  (Read More)

June 7, 2010

THE INFLUENCE GAME: Dueling over debit card fees; By JIM KUHNHENN, The Associated Press

Swipe your debit card at the supermarket and you've placed yourself at the heart of a contentious congressional debate. (Read More)

June 7, 2010

Target gloomy on storecards; By Jonathan Birchall, Financial Times

Target, the US discount retailer, says it expects the outstanding balances on its customers’ store-branded credit cards to drop to levels not seen since 2005, highlighting the rapid fall in the supply of consumer credit in the wake of the financial crisis. (Read More)

June 3, 2010

Credit Card Mail Solicitations Increase 29%; By Bill Hardekopf, Forbes

As the economy recovers, households are receiving substantially more credit card offers in the mail. (Read More)

June 3, 2010

Visa to Let China Holders Use UnionPay in Hong Kong, 21st Says; Bloomberg Businessweek

Visa Inc. will allow Chinese holders of dual-currency credit cards that include both its and China UnionPay Data Co.’s pay services to use either service in Hong Kong and Macau, the 21st Century Business Herald reported on its website late yesterday, citing an unidentifed spokesperson based in Hong Kong. (Read More)

June 2, 2010

Durbin regulations are aimed at your wallet. They'll cost us all money and convenience; By Todd J. Zywicki, Washington Times

Late in the Senate's proceedings on the financial regulatory reform bill, the Senate adopted - with no hearings and minimal debate - a controversial provision proposed by Sen. Richard Durbin, Illinois Democrat, that imposes price controls on interchange fees for debit and prepaid cards. The amendment also allows merchants to override several rules of payment card networks that currently protect consumers from abusive practices by merchants. While big-box merchants and convenience stores are declaring this a victory against the financial services industry, if the amendment survives in conference committee, consumers and small banks will be the real losers. (Read More)

June 1, 2010

Visa Slaps Chinese Firm With Ban; BY DINNY MCMAHON, The Wall Street Journal

Visa Inc. said Thursday it is introducing a ban on banks using China UnionPay Co.'s network to process international transactions with credit cards bearing the Visa and UnionPay symbols. (Read More)

May 28, 2010 Press Release

Understanding Restricted Authorization Networks: Cards Between Closed and Open Loop; Source: Mercator Advisory Group

New research looks at game changing technology blurring the lines between open- and closed-loop prepaid cards and turning the industry upside down. (Read More)

May 28, 2010

Consumers keep on flashing the plastic: Source: guardian.co.uk

Spending on credit and debit cards increasing all over Europe despite crunch (Read More)

May 28, 2010

EU to market test Visa Europe's debit fee cut offer; Source: REUTERS

European Union antitrust regulators are seeking third party views regarding Visa Europe's (V.N) offer to cut its debit card fees to stave off a possible fine before deciding whether to accept the proposals. (Read More)

May 27, 2010

Credit-Card Bill Becomes Law in Green Mountain State; Source: CSP

Vermont governor would not sign, but did not veto (Read More)

May 25, 2010

Large banking interests create a Web page against interchange finreg; By Mike Konczal, The Washington Post

You want to know how I can tell that the interchange reform in the Senate bill was a surprise story? Because the last-minute lobbying campaign against it is so obviously a thrown-together, half-baked effort by the biggest banks. (Read More)

May 25, 2010

Pelosi Urged to Ensure Passage of Debit-Card Limits (Update2); By Peter Eichenbaum and Phil Mattingly, Bloomberg Newsweek

The U.S. House of Representatives should support a Senate amendment to the financial overhaul bill that limits “swipe” fees charged to retailers who accept debit cards, a group of lawmakers told Speaker Nancy Pelosi. (Read More)

May 20, 2010

Senate preserves unlimited card rates; Source: delawareonline

Delaware banking law avoids being undercut by consumer protections. (Read More)

May 20, 2010 Press Release

MasterCard Urges House and Senate Conferees to Consider Severe Consequences of Durbin Amendment for American Consumers; Source: MasterCard Worldwide

Wed May 19, 2010

VISA CEO highlights "negative consequences" of amendment; By Maria Aspan, Reuters

Visa Inc. Chief Executive Officer Joseph Saunders visited lawmakers in Washington, DC, on Wednesday in an attempt to forestall legislation that would restrict debit card fees. (Read More)

May 19, 2010

Beware the coming credit card hit on Canadian families; By Neil Reynolds, The Globe Investor

Households have doubled their personal debt in the past decade to $1.4-trillion (Read More)

May 18, 2010

Cielo, Redecard Fall as Brazil to Cap Credit Card Fee (Update2); By Iuri Dantas, Bloomberg.com

Cielo SA and Redecard SA tumbled more than 10 percent after Brazilian Justice Minister Luiz Paulo Barreto said the government will ask the card-payment processors to reduce fees charged to retailers. (Read More)

May 17, 2010 Press Release

Global Prepaid Card Market Potential Ranking 2010; Source: Mercator Advisory Group

Breakthrough research from Mercator Advisory Group provides comprehensive overview of the top international prepaid card markets (Read More)

May 17, 2010

Senate OKs Swipe Amendment; Source: CSPNET

By a bipartisan of 64 to 33, the U.S. Senate approved an amendment (S. Amdt 3989) late last week to the Restoring American Financial Stability Act of 2010 introduced by Assistant Senate Majority Leader Dick Durbin (D-Ill.) to help reduce the "swipe fees" that small businesses pay on every debit-card sale. (Read More)

May 14, 2010

Debit Fee Cut Is a Rare Loss for Big Banks; By BINYAMIN APPELBAUM, The New York Times

Retailers have begged Congress for years, in vain, to limit the fees they must pay to banks when customers swipe credit or debit cards. Bills never reached a vote. Amendments were left on the table. The Senate did not even grant the courtesy of a committee hearing. (Read More)

May 13, 2010

Durbin wins battle to pass 'interchange fee' legislation, 64-33; By Silla Brush, The Hill

The Senate on Thursday passed controversial legislation clamping down on fees that card issuers charge merchants, handing Senate Majority Whip Dick Durbin (D-Ill.) a major victory. (Read More)

May 13, 2010 Press Release

Global Payments Asia Pacific Introduces ‘Global HomeCurrencyPay™’ in the Philippines; Source: Global Payments

New Service Provides International Cardholders with the Convenience of Paying in Their Own Currency (Read More)

May 12, 2010 Press Release

nFinanSeMusic.com Releases Volume 2 of Free Music Downloads; Artist with No. 1 hit in Germany, Van Risseghem, heads list of eight cutting-edge acts; Source: nFinanSe

TAMPA, Fla. – nFinanSe Inc. (OTC Bulletin Board: NFSE), a leading reloadable prepaid card provider, in conjunction with its entertainment partner, Inspire, today released Volume 2 on its online music site, www.nFinanSeMusic.com, which provides free downloads by new artists and is intended to appeal to young adults ages 18 to 25. (Read More)

May 10, 2010

Credit Card Fee Takes 10% Bite Out of Purchase; By Odysseas Papadimitriou, The Street

Odysseas Papadimitriou is founder and chief executive officer of Evolution Finance, the parent company of Wallet Blog and Card Hub, an online marketplace for credit-card offers. (Read More)

May 6, 2010 Press Release

Sagem Orga do Brasil Selects Cryptomathic's CardInk; Source: Cryptomathic

Sagem Orga do Brasil, the leading Latin American smart card manufacturer, has appointed Cryptomathic to deliver its data preparation solution, CardInk.  The system will be integral to Sagem Orga do Brasil’s issuance of EMV debit and credit cards. (Read More)

May 5, 2010

Vt. sets tough new rules on credit card fees; By LISA RATHKE, Bennington Banner

The Vermont Legislature has passed a bill cracking down on fees and other costs that credit card companies charge merchants, offering protections to small mom-and-pop stores who say the fees stand to threaten their livelihood. (Read More)

May 4, 2010

MasterCard Aims for Faster Authorizations, More Message Data; Source: Digital Transactions

While Visa Inc. and MasterCard Inc. are shelling out big bucks for the loyalties of card issuers and merchants (Digital Transactions News, April 29), they’re also adding technological muscle to attract more transaction volume to their networks. In the latest example, MasterCard on Monday announced a host of upgrades to its worldwide processing network that includes global enhancements as well as improvements in specific regions. (Read More)

May 3, 2010

Canadian Government Issues Revised Credit, Debit Card Industry Code of Conduct; Source: NACS Online

The Canadian Convenience Stores Association still has concerns about the way the credit card companies operate. (Read More)

April 30, 2010

Will we see EMV in the U.S.? Source: CIO

EMV continues to be a hotly contested topic for card-based payments in the U.S. market. (Read More)

April 28, 2010 Press Release

TSYS Partners With Serverside Group for Digital Card Solution; Source: TSYS

TSYS announced a partnership agreement with Serverside Group to launch TSYS Card Shop, a digital card fulfillment and marketing solution that combines ‘on-demand’ manufacturing processes with industry-leading card management and customization capabilities. (Read More)

April 27, 2010

Consumers Urge Congress To ‘Stop Unfair Credit Card Swipe Fees’; NACS Online

NACS is delivering 2 million customer signatures to the U.S. Senate today, urging action on unfair credit and debit card swipe fees. (Read More)

April 26, 2010

The great Aussie switch to debit cards from credit cards; By Alex Tilbury and Karina Barrymore, News Limited newspapers

AUSTRALIANS' love affair with credit cards is waning as people switch to using cash and debit cards. (Read More)

April 23, 2010

Credit cards losing ground to mobile technology and the Internet; By Gillian Shaw, Vancouver Sun

Mobile phones as payment devices and virtual online currency are among the changes Canadians will see as the credit card industry transforms after increased losses and stepped-up government regulation, according to a report released by Deloitte Thursday. (Read More)

April 20, 2010

Target Snubs Visa in Shift to Store-Branded Cards; By Peter Eichenbaum, Bloomberg.com

Target Corp., the second-largest U.S. discount chain, will stop issuing Visa Inc. credit cards to new applicants and spur use of its own plastic. (Read More)

April 19, 2010 Press Release

InCard Technologies Unveils $2.95 Security Card Token; Source: InCard Technologies

The ICard, a new product family from the world’s leader in one-time passcode (OTP) card technology, is priced to disrupt the $500 million OTP token market. (Read More)

April 16, 2010 Press Release

Media Statement - Visa Statement Regarding the Canadian Code of Conduct, Source: Visa Inc., Yahoo Finance

Visa supports the Canadian government's goal to encourage transparency and merchant choice within the payments marketplace - two important pillars on which Visa has built its business domestically and internationally. (Read More)

April 16, 2010

Credit card delinquency rates fell last month at most major U.S. lenders, with the exception of Citigroup Inc, in the latest sign that Americans are starting to climb out of the recession. Source: Reuters

On the downside, credit losses from uncollectable loans were still high, and worsened for JPMorgan Chase & Co, Capital One Financial Corp, Citigroup and American Express Co, according to regulatory filings by the companies on Thursday. And credit losses for many lenders were up from a year earlier. (Read More)

April 15, 2010

Research Explores New Developments in Credit Card Account Origination; Source: Mercator Advisory Group

Credit Account Origination Systems Vendor Review: Beyond Cards (Read More)

April 14, 2010 Press Release

Absa Card Introduces Planet Payment's Pay in Your Currency Service in South Africa; Source: The Wall Street Journal

The Pay in Your Currency service will provide Absa merchants with the ability to present the international consumer with a choice of paying in Rand, or completing the purchase in any one of the 30 supported foreign currencies. (Read More)

April 7, 2010 Press Release

SpendingPulse March Report: Most U.S. Retail Industry Sectors Continue a Trend of Positive Year-on-Year Gains, Although Still Off From 2008 Spending Levels; Source: MasterCard Advisors

MasterCard Advisors' SpendingPulse, a macro-economic report tracking national retail and service sales, today provided summary results for performance of specific U.S. retail industries in March, 2010. Most retail sectors continued to demonstrate solid year-over-year gains in March as easy year-over-year comparisons helped produce positive growth rates, albeit sales levels in several sectors are still off from the highs of 24 months ago. From a geographic point of view spending was positive across most regions of the country, the Pacific Coast being the exception. (Read More)

April 7, 2010 Press Release

Acculynk Announces ISO Program for Internet Card Not Present Processing; Source: Acculynk

Complete card acceptance program plus Acculynk’s Internet PIN debit solution provides unique opportunity for ISOs. (Read More)

April 7, 2010

DIY, credit card style: Issuers roll out 'do it yourself' cards; By Tony Mecia, CreditCards.com

Looking for a do-it-yourself project that doesn't involve repainting a bedroom or landscaping your yard? How about building your own credit card? (Read More)

April 5, 2010 Press Release

IRS Awards Multi-Year E-Payment Contract to RBS WorldPay; Source: payUSAtax

The Internal Revenue Service Awards RBS WorldPay a Multi-Year Contract to Process Individual and Business Tax Payments Using a Credit Card or Debit Card Beginning in January 2010. (Read More)

April 2, 2010

Consumers to Fed: Stop debit card overdraft opt-in 'scare' tactics; By Connie Prater, creditcard.com

Consumer groups are sounding the alarm that banks desperate to get debit card users to opt in to overdraft fees may use deception to dupe cardholders into agreeing to the controversial fees. (Read More)

April 1, 2010

MasterCard, Visa, and the Card Sharks By Jessica Silver-Greenberg, BusinessWeek

There are some things money can buy, and one of them is a license to issue credit cards from MasterCard and Visa. Some questionable banks do just that, gaining credibility from the brands (Read More)

April 1, 2010

Chase Expects Credit Card Law to Mean $750M Cut; By EILEEN AJ CONNELLY AP; Source: ABC NEWS

JPMorgan Chase & Co. expects its credit card income to drop by up to $750 million because of recent regulations undefined and a lot of customers will get cut off as a result. (Read More)

April 1. 2010

Maine lawmakers OK bill barring debit surcharges; Source: BusinessWeek

The bill sponsored by Rep. Sharon Treat of Hallowell would prohibit merchants from placing surcharges on debit card purchases. The Federal Reserve Board says debit cards are now used more often than credit cards. (Read More)

Woolworths reduces Visa Debit card use in Australia; Source: heraldsun.com.au

VISA is "extremely disappointed'' with a decision by Woolworths to remove the credit option when paying with a Visa Debit card in it stores. Visa says the supermarket giant is to route all debit transactions via the EFTPOS network to save costs and this will reduce competition. (Read More)

April 1, 2010

Retail Associations Applaud Vermont for Interchange Legislation; Convenience Store News

Small business and retail associations saw victory in Vermont recently as the state Senate unanimously passed a law to rein in credit card interchange fees. (Read More)

April 1, 2010

Bank of America begins to offer consumer-like protections to small business cardholders; Source: Yahoo Finance

Small businesses are starting to receive some of the protections given to consumers when strict credit card regulations kicked in. But in a twist, they're being offered voluntarily by banks. (Read More)

March 31, 2010

Stores endure new card rules despite hurt profits; Source: REUTERS

Top retailers have sounded the alarm about the U.S. government's recently enacted credit card reforms, warning investors the new rules will hit their bottom lines to the tune of millions of dollars just as consumer spending is beginning to bounce. (Read More)

March 30, 2010

California jobless payments going plastic; Source: Los Angeles Times

The beleaguered state agency that administers unemployment benefits aims to have an electronic system operating within months. (Read More)

March 29, 2010

Does Credit Card Debt Settlement Really Work? By Mark Huffman ConsumerAffairs.Com

The ads for credit card debt settlement companies make it sound pretty easy. If you have $10,000 or more credit card debt, these firms say they can negotiate with your lender so that you can walk away from all but a small percentage of the money you owe. (Read More)

March 26, 2010

Zynga Officially Partners With InComm For Prepaid Cards; Source: Virtual Worlds News

Today the social game developer Zynga officially announced that InComm would be providing the company with a line of prepaid virtual currency cards for its top social games, confirming a well-sourced rumor from late last year. The cards are currently available at over 12,800 7-Eleven, Best Buy, Target, and GameStop locations nationwide. Cards are available for Zynga's FarmVille, Mafia Wars, and YoVille games.  (Read More)

March 25, 2010

China’s Credit-Card Curbs Said to Be Weighed by U.S. (Update2); By Jennifer M. Freedman, Mark Drajem and Peter Eichenbaum, BusinessWeek

Visa Inc., American Express Co. and MasterCard Inc. have talked with U.S. trade officials about taking action against China for shutting the companies out of its $723 billion payment-processing market, people briefed on the issue said. (Read More)

March 25, 2010

Beefed Up PIN-Steering; By Red Gillen, Celent

Some recent shopping trips demonstrated to me that the payment card interchange battle between merchants and card issuers/payment brands is taking a more aggressive turn.  This intensified battle is not limited to the halls of Congress; it is also taking place on the front lines, in retail stores.  (Read More)

March 25, 2010

Alan Siegel's credit card agreement redesign; Source: TEDBlog

In his 2010 TEDTalk, Alan Siegel called for a simple, sensible redesign of legal paperwork -- to make it intelligible to the rest of us. Here's one of the redesigned documents he showed: a sample credit card agreement which is easy to understand and, dare we say, pretty? (Read More)

March 24, 2010

Global Card Issuers Undergoing Deleveraging; By Park Sang-soon, The Korea Times

This is the fifth in a 12-part series of “The Korea Times , the Boston Consulting Group (BCG) Joint Project” designed to identify new realities in the post-crisis world and provide winning strategies for leading Korean firms in 11 key industries. In cooperation with BCG, The Korea Times will look into a wide variety of issues both in the global economy and major industries. (Read More)

March 22, 2010

It’s Coming: a True Credit Builder for Prepaid Debit Cards; Source: getdebit

This is the final article in a three part series about credit builder features and prepaid debit cards. In the previous two articles, the author discusses problems with existing credit reporting features for prepaid debit products. In this article, the author describes a new prepaid debit card credit building feature that will be launched this year. (Read More)

March 19,2010

The Impact of the New Credit CARD Act on Young Adults; getdebit.com

This is part two of a series of articles about prepaid debit cards and credit scoring. In this article, the author takes a look at how the Credit Card Accountability Responsibility and Disclosure Act of 2009, which went into effect in February of 2010 will impact young adults. In particular, the author discusses how the Card Act will reduce the ability of young Americans to establish and build credit histories, and how prepaid debit cards may be able to fill the need. (Read More)

March 18, 2010

Fed seeks public comments on proposed credit card reforms; By Michelle Singletary, The Washington Post

In what feels like never-ending regulatory fiddling with the Credit Card Accountability Responsibility and Disclosure Act of 2009, the Federal Reserve wants to know what consumers think about certain fees that lenders charge as penalties for late payments or other issues.  (Read More)

March 18, 2010

Robert Selander, Master Of Credit Card Growth; By SCOTT S. SMITH, INVESTOR'S BUSINESS DAILY

When Robert Selander was named CEO of MasterCard (MA) in 1997, the firm was an association of banks that didn't want it to make a profit. (Read More)

March 17, 2010

Discover's Hybrid Growth Strategy Boosts Network Volumes; Source: Digital Transactions

Discover Financial Services now has more than 100 bank card merchant acquirers booking small to medium-sized merchants for its network, the company reported today at an investor presentation in New York City. Discover predicts that those acquirers will enable Discover acceptance in 97% of their new merchant sales in 2010’s fourth quarter, up from 90% in 2008’s second quarter and 77% in the second quarter of 2006, when Discover’s third-party acquirer program was just starting. (Read More)

March 15, 2010

Capital One Charge-Offs Fall in February; By Laurie Kulikowski , TheStreet.com

 Capital One's (COF) credit card charge-off rate fell in February for the first time in at least five months. (Read More)

March 15, 2010

Capital One Unveils Venture, New Rewards Card with Double Miles for Every Purchase and No Restrictions; Source: CapitalOne

Capital One Financial Corporation (NYSE: COF) today announced the launch of Venturesm (www.capitaloneventure.com), a premium travel rewards credit card offering double miles on every purchase, without the restrictions commonly found in rewards programs. There are no limits on when, where or how you earn double miles, no retailer specifications or spending categories, no separate rewards enrollment or re-enrollment requirements, and no limit on the number of miles cardholders can accumulate. What's more, cardholders enjoy easy redemption by booking on any airline at any time, with no blackout dates, no advance booking required, and no expiration. Rewards can be redeemed for any travel related expense, such as airline, hotel, cruise line and rental car transactions. And of course, as with all other Capital One cards, there are no foreign transaction fees. (Read More)

March 11, 2010

Discover Financial Services Announces Actions to Further Enhance Loan Loss Reserve; Source: Discover Financial Services

Discover Financial Services (NYSE:DFS) today announced that the company will record an increase in reserves of $305 million pre-tax in the first quarter 2010, which brings its reserve coverage to approximately twelve months of losses. This reserve addition results from a new analytical process that enhances management's ability to estimate incurred losses on non-delinquent accounts. (Read More)

March 10, 2010

In Prepaid, Issuers And Networks Will See Fastest Revenue Growth; Source: Digital Transactions

The continuing boom in general-purpose prepaid cards will lift all providers’ boats, but some industry players will see revenues grow faster than others, according to new report from Aite Group LLC. The Boston-based research firm estimates that the total revenue pie of the so-called network-branded prepaid card industry will grow from $1.63 billion in 2008 to $5.91 billion by 2014, an increase of 263%.

March 10, 2010 Press Release

nFinanSe Announces Fee Reductions for ATM Withdrawals and Bill Pay Transactions; Source: The Wall Street Journal

nFinanSe, a leading reloadable prepaid card provider, today announced that it is significantly reducing its fees to cardholders for ATM withdrawals and also for electronic bill pay transactions. The Company believes that these reductions will encourage greater trial and usage of its Visa(R) and Discover(R) Reloadable Prepaid Cards and promote greater retention among cardholders.  (Read More)

March 8, 2010

Scott Galit Joins i2c Inc. as President; Source: i2c Inc.

i2c Inc., an innovative provider of payment solutions, announced that Scott Galit has joined the company as president.

Scott comes to i2c with extensive background in the financial services and prepaid industries, focusing especially on emerging payments. Most recently, as executive vice president at Meta Payment Systems, Scott served on the executive committee of MetaBank and led all payments business lines, including credit, prepaid/debit, ACH, loyalty, agent bank and ATMs. (Read More)

March 2, 21010

A New Report From Aite Group: The Branded Prepaid Market in 2010 and Beyond

While the branded prepaid card market is experiencing substantial growth, it remains a market fraught with challenges. (Read More)

March 2, 2010

American Express, Capital One Lift Card Rates; By Bill Hardekopf, TheStreet.com

American Express(AXP Quote), Capital One Financial(COF Quote) and Citigroup(C Quote) raised the interest rates of some popular credit cards before the Credit Card Accountability, Responsibility and Disclosure (CARD) Act took effect on Feb. 22. (Read More)

February 26, 2010

Green Dot Corp files for $150 million IPO; Source: Reuters

Prepaid debit card seller Green Dot Corp filed for an initial public offering of up to $150 million on Friday. (Read More)

February 26, 2010

Credit card foreign transaction fees going up as Takeovers and fee hikes hit travelers -- and even those who stay home; By Tamara E. Holmes, CreditCards.com

If you're planning a foreign trip, double-check with your credit card issuers to find out how much using your credit and debit cards will cost you: Many have increased their foreign exchange fees. (Read More)

February 25, 2010 Press Release

Visa Inc. Announces Investor Day; Source: Visa Inc.

Visa Inc. (NYSE: V) today announced that it will host an Investor Day on Thursday, March 11, 2010, in San Francisco. Members of Visa's executive management team will present the company's strategic goals, product initiatives, and key milestones, as well as review the company's financials. (Read More)

February 25, 2010 Press Release

Tempo Affinity Debit Platform Selected for Best Open Source Solution Category 

Tempo announced that it has been selected as a finalist for the 2010 Software & Information Industry Association (SIIA) CODiE Awards in the “Best Open Source Solution” category. (Read More)

February 25, 2010

House’s Frank Won’t Push to Regulate Card-Swipe Fees (Update1), By Peter Eichenbaum and Alison Vekshin, Bloomberg; Source: Business Week

U.S. Representative Barney Frank, chairman of the House Financial Services Committee, said he won’t seek to regulate in 2010 the interchange fees that are charged to merchants with each swipe of a credit card. (Read More)

February 25, 2010  Press Release

Visa premium cardholders can now enjoy exclusive access to perks at a selection of the world’s most prestigious properties; Source: Visa Inc.

Visa Inc. (NYSE: V) today announced the launch of the Visa Signature Luxury Hotel Collection (VSLHC), a new premium travel offering enabling Visa Signature cardholders to find, book and enjoy unique benefits at a hand-selected group of prestigious properties throughout the world. (Read More)

February 24, 2010 Press Release

Plastic Cash International, LLC Partners with MasterCard Worldwide to Offer MYPLASH Prepaid Cards; Source: MasterCard Worldwide

Plastic Cash International, LLC and MasterCard Worldwide, two of the prepaid industry's most prominent players, today announced a brand-exclusive partnership to offer MYPLASH open-loop prepaid gift cards and reloadable prepaid gift cards starting summer 2010. MYPLASH prepaid cards, Plastic Cash International's teen prepaid brand, were previously Visa-branded and are the world's largest teen branded prepaid product. As part of the launch this summer, MYPLASH will also be expanding its existing roster of the hottest music artists, action sports athletes and lifestyle brands to include pop culture icon Paul Frank, action sports sensation TapouT, legendary surfing brand Rip Curl and dozens more. (Read More)

Feb 23, 2010 Press Release

Western Union Wins Two Prepaid Card Industry Awards; Source: Western Union

Company Recognized as 'Best Network Branded Gift Program' and 'Outstanding New Entrant' at 2010 Prepaid Expo (Read More)

February 23, 2010

Customers tell the Nova Scotia Government to "Bring Back Our Mall Gift Cards!" Source: CNW Group

Greenwood Mall, Mic Mac Mall and Halifax Shopping Centre announced today that the response to their new website www.bringbackourmallgiftcards.com, has been overwhelming. (Read More)

February 22, 2010 Press Release

Acculynk and EFT Networks Form Internet PIN Debit Advisory Council, Council will serve as the governance body and expert group on Internet PIN debit; Source: Acculynk

Acculynk has formally announced the establishment of the Internet PIN Debit Advisory Council with partner EFT networks. Acculynk is the first company to introduce a software-only service for PIN debit payments on the Internet, PaySecure®, which has been adopted by multiple EFT networks, merchant acquirers, E-commerce merchants and issuers. (Read More)

February 22, 2010

Building credit when you're young is getting tougher, By Liz Pulliam Weston, The Los Angeles Times

Dear Liz: I am 20 and trying to build my credit. I rented an apartment for a year, and I bought a car last year but needed a cosigner to get the loan. It seems like none of this is factoring into my credit score, because I can't get a credit card! I applied for one through my credit union and was denied. (Read More)

It's a New Day for Credit Cards, By JENNIFER WATERS, The Wall Street Journal

For the first time in three years, credit-card issuers are ramping up their mailbox solicitations. But don't expect to see your father's credit-card appeals. Variable interest rates, higher annual fees and a host of new charges will be hidden in the fine print of these offers. (Read More)

February 22, 2010

Credit Card usage is up in China; Shoppers find plastic fantastic, Source: Shanghai Daily

Bank-card transactions on the mainland topped 56 9 billion yuan US$8 3 billion in the seven-day holiday by Friday The figures were provided by China UnionPay Co the country s sole bank-card transaction-clearing operator. (Read More)

February 19, 2010

Citigroup Boosts Credit Card Fees, By Bill Hardekopf, TheStreet.com

Citigroup(C Quote) is adding annual fees to many popular credit cards a week before the CARD Act goes into effect.  Some Citigroup cardholders are receiving letters about a $60 annual fee that is being attached to their account effective April 1. If consumers make $2,400 in purchases during the year, the annual fee will be credited to their account. Only about 20% of credit cards in the U.S. have annual fees, according to data compiled by LowCards.com. (Read More)

February 18, 2010 Press Release

OCC Reaches Agreement with Capital One on Unfair Credit Card Account Closing Practices

The Office of the Comptroller of the Currency (OCC) announced today that it has entered into a Formal Agreement with Capital One Bank (USA), N.A., Glen Allen, VA ("Capital One"), directing Capital One to reimburse consumers harmed by Capital One’s credit card account closing practices. The practices in question occurred from 2004 to 2006, before the Bank became a national bank subject to the OCC’s supervision. (Read More)

February 11, 2010

The Bancorp Bank and InsurCard® Team Up to Deliver Prepaid Solution for North American Risk Services, Inc. This InsurCard Visa® Prepaid Card allows North American Risk Services, Inc. to Make Funds Immediately Available to Claimants; Source: Bancorp Bank

The Bancorp Bank Payment Solutions Group, a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), has joined with InsurCard to offer an instant issue prepaid card program to North American Risk Services, Inc (“NARS”), for property and workers compensation claims. (Read More)

February 10, 2010

Credit vs. Debit: The New Wallet; Source: getdebit.com

Wallets aren’t what they used to be. For anyone who’s taken a peek inside the wallet of a Generation Y spender recently, you’d be forgiven for thinking that the age of cash and credit is officially over. I grew up and survived college carefully writing checks so as not to overtake my bank balance. I paid in cash whenever I could. Today, I look in my teenagers’ wallets and see a prepaid American Express card, along with cards toward Gamestop, the Gap and Subway. The times, they are a changin’. (Read More)

February 10, 2010

Card Issuers Raise Marketing– To Most Creditworthy; Mailboxes, beware: After a hiatus of several months, credit-card offers are making a comeback; By APARAJITA SAHA-BUBNA, The Wall Street Journal

Credit-card companies mailed 398.5 million solicitations in the fourth quarter of 2009, a 46% jump from the third quarter and the first quarterly increase since 2007, according to new data from Synovate, a market research firm. Although a far cry from the 1.5 billion credit-card solicitations mailed in the fourth quarter of 2006, the quarterly increase underscores a potential turning point in an industry slammed by losses from souring card loans and restrictive legislation. (Read More)

February 9, 2010 Press Release

Payroll Cards 100% Electronic Payments 80% of the Time - Crossing the Market Finish Line; Source: Mercator Advisory Group

New Research Evaluates Best Practices, Trends, and Solution Vendors in Fast Growing Prepaid Segment

Boston, MA -- February 9, 2010 –Payroll cards are one of the fastest growing prepaid card segments and the products are posed for further growth as companies attempt to reduce operational expenses by moving from traditional paper-based payroll systems to electronic distribution methods. (Read More)

February 9, 2010 Press Release

SelectCore launches Iridium MasterCard. Canada`s first reloadable prepaid card sold at retail.

SelectCore Ltd. (TSX-V: SCG), a provider of prepaid telecom and prepaid financial services, is pleased to announce the launch of Iridium MasterCard – Canada’s first prepaid reloadable card sold to consumers through retail locations. (Read More)

February 8, 2010

Credit-card system puts health-care payments on the front end of service; By Chris Killian, Kalamazoo News

Prior to reserving a rental car or a room at a hotel, most customers have to secure their purchase with a credit card. Now at some area doctor’s offices, they’ll have to slide their card prior to receiving medical care. (Read More)

February 8, 2010

Built on Plastic; Credit cards may be the only source of financing these days for many start-ups. But they may not be the firmest foundation; By ROB JOHNSON, The Wall Street Journal

ROANOKE, Va.undefinedThe gift boutique that Donna Bollinger opened here in the shadow of the Blue Ridge Mountains in November 2008 is her first entrepreneurial effort, already profitableundefinedand financed on plastic. (Read More)

February 4, 2010

FCAC Updates its Credit Card Selector Tool; Agency recommends that consumers ask about low introductory interest rates; Source: Financial Consumer Agency of Canada

The Financial Consumer Agency of Canada (FCAC) has completely updated its credit card selector tool. This objective, user-friendly Web resource helps consumers compare the costs, advantages and rewards of most credit cards available in Canada.(Read More)

February 3, 2010

Discover CEO: New rules don't help those with best credit; By Lesley Mitchell, The Salt Lake Tribune

People with the best credit used to be able to count on the lowest credit card rates. But that's no longer necessarily going to be the case with the passage of the nation's new law on credit cards, said David Nelms, CEO of Discover Financial Services. (Read More)

February 3, 2010

Visa, MasterCard Ready to Charge Ahead; By KELLY EVANS, The Wall Street  Journal

For two companies battered by a nationwide credit crunch and consumer-spending squeeze, Visa and MasterCard have emerged surprisingly well. (Read More)

February 1, 2010

Gift Card Mall(TM) Partners With Microsoft to Launch Xbox LIVE Prepaid Cards; Source: EarthTimes.org

Blackhawk Network, a market leader in card-based financial solutions and the largest provider of third-party gift cards in the United States and Canada, today announced a partnership with Microsoft Corporation for its Xbox LIVE service on the Xbox 360. Customers will now have the ability to purchase Xbox LIVE Gold Subscription and Microsoft Points Cards from Blackhawk Network's Gift Card Mall™. In addition to accessing online multi-player gaming, consumers will also have the ability to download gaming and entertainment content using these cards. Created and operated by Microsoft Corporation, Xbox LIVE is one of the largest online multiplayer gaming and digital media delivery services with over 20 million members (Read More)

February 1, 2010

The CARD Act Was No Gift; Source: getdebit.com

The Federal Reserve is required under the CARD Act to publish final regulations for gift cards before February 22, 2010. The effective date for the rules will be six months later, August 22, 2010. The comment period on the proposed rules published in November 2009 closed at the end of December. (Read More)

February 1, 2010 Press Release

ANZ Bank is targeting the student market and will issue more than 50,000 Visa prepaid cards to university students in Sydney; Source: ANZ Bank

It follows a two-month trial with 2000 students late last year and a release of the prepaid cards to users of the social networking site MySpace. (Read More)

January 29, 2010 Press Release

Credit card direct mail back on the rise; Card issuers increase direct marketing as economy levels out; Source: Mintel

It wasn’t just holiday cards and catalogs filling your mailbox last month. Mintel Comperemedia, a service that provides direct marketing competitive intelligence, reports that in Q4 2009undefinedfor the first time in three yearsundefinedcredit card direct mail volume increased from the previous quarter. (Read More)

January 28, 2010 Press Release

Equifax Offers Unique Ability-to-Pay Products for Credit Card Act Compliance: Industry's Only Set of Solutions based on Actual Income and Wealth Data

Equifax Inc. (NYSE: EFX) today announced the availability of an industry-unique suite of "ability-to-pay" assessment tools to help credit card issuers comply with the amendments to Regulation Z of the Credit Card Act that go into effect February 22, 2010. The Federal Reserve Board (FRB) released its rules for compliance on January 12. (Read More)

January 28,2010

Visa to challenge regulation of bank card payment; Source: Budapest Business Journal

Visa Europe plans to turn to Hungary's Constitutional Court over the regulation of the prices that can be charged for bank card payments, Visa Europe regional head Mark Antipof told the business daily Napi Gazdaság, the paper said on Thursday. (Read More)

January 27, 2010

Calif. officials probe credit card interchange fees; BY CHRIS RIZO, LegalNewsline.com

California officials, under the leadership of a Democrat running for state attorney general, are probing rising credit card interchange fees. (Read More)

January 27, 2010

 Review of Rushcard Prepaid Credit Cards; Source: DoughRoller

With credit card companies charging more and more fees, the number of transactions with debit and prepaid cards has increase significantly. The result has been a rush of new prepaid cards hitting the market, including prepaid credit cards with no fees or low fees. This means good news for consumers as banks and prepaid card issuers lower fees and add features to compete for your business. One of the more popular prepaid cards is the Rushcard. (Read More)

January 26, 2010

Store-Card Regulations Not as Tough as Feared.  By Maria Aspan, American Banker

January 25, 2010

Is a charge card same as a credit card? By Leslie McFadden, Bankrate.com

The terms "charge cards" and "credit cards" are sometimes used interchangeably, but these two payment cards have distinct features and impact credit scores in different ways. (Read More)

January 25, 2010

New Research on Prepaid Cards in the Middle East Eneritz Corral, Marketing Executive at VRL Financial News

One of the key challenges facing any new supplier or issuer in a market, is understanding the customer. This is particularly important in a new and growing industry such as prepaid payment cards.  Recognizing this VRL, commissioned an exclusive research on: “understanding of the prepaid concept and payment cards and propensity to purchase specific prepaid products” in the UAE, KSA and Egypt.  (Read More)

January 21, 2010 Press Release

Consumers cutting credit card usage and debt on eve of reform, First Command reports. Source: FirstCommand Financial Services

FORT WORTH, Texas – With credit card reform legislation taking effect in February, middle-class Americans are already making important changes in the ways they use their cards with a focus on reducing debt, according to the latest results of the First Command Financial Behaviors Index™.  (Read More)

January 19, 2010

Credit card charge-offs slip at most U.S. companies. Source: REUTERS

U.S. credit card data for December showed some signs that fewer consumers were falling seriously behind in their payments. (Read More)

January 18, 2010

Debit card debate heats up. Source: Canoe/Money

Credit-card companies are going head-to-head with business groups in the fight to influence Ottawa’s plan to regulate the debit-card market in Canada. (Read More)

January 17, 2010

Divisions over credit, debit card code of conduct. By Tara Perkins, The Globe and Mail

Ottawa's decision to adopt a code of conduct governing credit and debit cards has pitted major players such as Visa Canada against a number of business groups. (Read More)

January 15, 2010 Press Release

AMERICAN EXPRESS COMPLETES ACQUISITION OF REVOLUTION MONEY

American Express Company today announced that it has completed the acquisition of Revolution Money Inc., a next-generation payments platform launched by Revolution LLC in 2007. American Express paid approximately $300 million cash for the acquisition. (Read More)

January 14, 2010

Santander to Launch Brazil Card Venture, Source: REUTERS

The Brazilian unit of Banco Santander (SANB11.SA)(SANB3.SA), the country's largest foreign lender, will launch a venture to process credit card transactions as the government seeks to break a duopoly in the industry and trim fees, a source with direct knowledge of the plan told Reuters on Thursday. (Read More)

January 14, 2010

January 12, 2010

The Federal Reserve has approved a final Amending Regulation Z.

The Federal Reserve Board on Tuesday approved a final rule amending Regulation Z (Truth in Lending) to protect consumers who use credit cards from a number of costly practices. Credit card issuers must comply with most aspects of the rule beginning on February 22. (Read More)

January 12, 2010

The Future of Plastic: 5 Credit Trends for 2010, Source: Smart Money

The CARD Act goes into effect on Feb. 22 and with it come stronger consumer protections. Banks will no longer be able to raise interest rates during the first 12 months after opening an account – or hike rates on pre-existing balances altogether. Credit-card payments, if exceeding the minimum, will be allocated to the higher-rate balances first. Monthly statements will become easier to understand and the ability to issue credit cards to college students will be severely restricted. (Read More)

January 11, 2010

InComm and Medagate to Launch Government Backed Medicare Products. Source: PRWeb

InComm, the leader in sales and marketing of prepaid products and innovator of transaction processing, announced today that it has entered into an agreement with San Francisco based Medagate Corp to develop a new payment gateway leveraging InComm’s patented point-of-sale card activation network and Medagate’s card-issuing platform. The gateway will connect the issuing platform to InComm’s network of 150,000 retail locations, thus allowing Retailers and Program Managers to work together to create their own acceptance networks and turnkey prepaid card programs. (Read More)

December 29, 2009 (Press Release)

First Data’s 2009 Holiday Gift Card Report

First Data, the global payments processing company, has been tracking gift card sales during the 2009 holiday shopping season, and publishing the compiled results in their “2009 Holiday Gift Card Performance Report”. The Report provides insights “based on aggregated transaction data generated by First Data’s merchant branded gift card processing business and our observations of the marketplace.” As a result, the compiled information should accurately reflect real sales. According to First Data, sales are up as compared to 2008. (Get Reports)

December 21, 2009

Heartland Payment Systems® Agrees to Settle Cardholder Class Actions

Heartland Payment Systems, Inc. (NYSE: HPY), one of the nation’s largest payments processors, has entered into an agreement to settle the consumer cardholder class actions consolidated in the United States District Court for the Southern District of Texas. These actions relate to claims arising from the criminal breach of Heartland’s payment system announced on January 20, 2009. (Read More)

December 21, 2009

Prepaid vs. Checking: Fairer Fight?

By Maria Aspan American Banker  

If the checking account's loss has been the prepaid card's gain, new overdraft regulations could kick that trend into overdrive. (Read More)

December 16, 2009 Press Release

The Bancorp Bank and InsurCard Team Up to Issue The InsurCard Visa® Prepaid Card for The New Jersey Insurance Underwriting Association

WILMINGTON, Del.--(BUSINESS WIRE)--The Bancorp Bank Payment Solutions Group, a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), today announced that Bancorp, in collaboration with InsurCard, have joined with the New Jersey Insurance Underwriting Association (NJIUA) to offer a program to provide immediate cash payments to New Jersey policyholders in the event of a catastrophe. The NJIUA is an association created by the state of New Jersey in 1968 to provide essential property insurance to any person unable to obtain insurance coverage.

Read More

December 15, 2009

Capital One credit card charge offs up in November

Source: Reuters

NEW YORK, Dec 15 (Reuters) - Capital One Financial Corp's (COF.N) U.S. credit-card charge offs and delinquencies rose in November, in a sign that consumers remain under stress.

Read More

December 15, 2009 Press Release

Dynamic Card Solutions’ CardWizard® Selected by Busey Bank to Instantly Issue Unembossed Debit Cards

ENGLEWOOD, Colo.undefined(Dec. 15, 2009)undefined Dynamic Card Solutions (DCS), the leading provider of instant issuance and PIN selection solutions for banks, credit unions and retailers that issue magnetic stripe, EMV and contactless cards, today announced that Busey Bank has implemented DCS’ patented CardWizard® software and FCP 20/20 flat card printers to instantly issue unembossed MasterCard® debit cards at the branch level. 

Read More

December 15, 2009 Press Release

World Emergency Relief Introduces Affinity Debit Card Powered By Tempo

 SAN MATEO, CA – Dec. 15, 2009 – Tempo announced today that the World Emergency Relief (WER), the non-profit organization that provides food, medical supplies and support to victims of natural and man-made disasters, is offering members and contributors an affinity debit card powered by Tempo.

Read More

UniRush Renews TSYS Agreement

Alpharetta, Ga., December 14, 2009 undefined UniRush and TSYS announced today an agreement to renew their longstanding relationship to continue offering prepaid payment and processing services. The RushCardTM, a prepaid Visa® debit card, provides cardholders instant access to basic financial services and empowers them to achieve their financial goals.

Read More

December 7, 2009

C-Stores Prepare New Anti-Interchange Petition Drive

Source: Digital Transactions

Retailers fighting what they say are high payment-card acceptance costs are not letting the heated debates about health care or President Obama’s planned troop surge in Afghanistan push interchange off the political stage. The NACSundefinedThe Association for Convenience and Petroleum Retailing, next week will launch what it calls Phase 2 of a petition drive to keep the interchange issue before Congress.

Read More

December 1, 2009

The Latest Forecast Is Especially Sunny for Prepaid Cards

Source: Digital Transactions

Credit card charge volumes have fallen this year and debit card volumes, while still in positive territory, are running far below the growth rates they enjoyed before the recession hit. But prepaid cards remain the one bright spot, according to a new market analysis from Mercator Advisory Group Inc. Maynard, Mass.-based Mercator’s latest annual forecast, for 2009-12, predicts that combined load volume on closed-loop and general-purpose, or open-loop, prepaid cards will hit $525.8 billion in 2012, up 112% from $247.6 billion last year.

  Read More

November 27 2009

Should the US Reform Interchange Fees on Credit Cards?

Last week, the Government Accounting Office issued a report on interchange fees, with the summary right there in the title: "Rising Interchange Fees Have Increased Costs for Merchants, but Options for Reducing Fees Pose Challenges." (links: full document, 1 page summary) Before we get to the big findings, what is an interchange fee, anyway? Source: theAtlanic by Mike Konczal (Read More)

November 27, 2009

Salvation Army kettles can now accept credit cards

Not having cash won't be an excuse to pass by the Salvation Army red kettles this holiday season. Bell ringers in about 200 cities now accept credit cards. By Jessica Leving, USA TODAY (Read More)

November 24, 2009

Frontline's “ The Card Game”

Investigating the massive consumer loan industry and what's ahead for consumers and banks -- a FRONTLINE-New York Times co-production. PBS aired the Frontline documentary "The Card Game " about credit cards, credit card debt, fees and consumer loans in the US. The PBS website has an online version that can be watched along with additional interviews , background , analysis , press reaction and a discussion area .

November 24, 2009

U.S. Looks to Australia on Credit Card Fees

SYDNEY undefined When Steve Franklin bought four plane tickets on Qantas last June, he faced an unexpected expense: a surcharge of 7.70 Australian dollars on each of the 136.70 dollar ($126) tickets undefined just for using his Visa credit card. By KEITH BRADSHER, The New York Times (Read More)

November 24, 2009 Press Release

Citi Sells Diners Club North America Business

New York – Citi today announced that it has signed a definitive agreement to sell its Diners Club North America card business to BMO Financial Group (BMO). The deal gives BMO exclusive rights to issue Diners cards in the U.S. and Canada. 

Raed more

November 10, 2009 Press Release

nFinanSe Announces Launch of Visa® Prepaid Debit Card

TAMPA, Fla. – November 10, 2009 – nFinanSe Inc. (OTC Bulletin Board: NFSE –www.nfinanse.com) today announced it will be launching its new Visa® Reloadable Prepaid Debit Card in Winn-Dixie Supermarkets in December 2009.

Read more

November 2, 2009 Press Release

Univision Partners with MasterCard to Deliver Prepaid Financial Services
Companies Provide Financial Empowerment Tools

NEW YORK, November 02, 2009 - Univision Communications Inc., the nation’s leading Spanish-language media company, today announced a strategic alliance with MasterCard Worldwide to introduce two new prepaid financial services, the Univision Prepaid MasterCard Card® (Tarjeta Univision MasterCard Prepagada®) and the Univision MasterCard Gift Card® (Tarjeta de Regalo Univision®). These prepaid cards will be available nationally in 2010 and are being developed to provide Hispanic consumers with access to relevant, flexible and valuable financial tools that can be used anywhere Debit MasterCard is accepted.

Read more 

October 28, 2009

Congress has passed sweeping new legislation aimed at making credit cards safer and more transparent. In July 2009, the Pew Health Group began a new study to evaluate how widespread these practices were and to identify trends since their last review in December of 2008. The research included an examination of nearly 400 credit cards, including all consumer credit cards offered online by the largest 12 bank issuers in America. These banks control more than 90 percent of outstanding credit card debt nationwide. Source:  Pew Health Group’s Safe Credit Cards Project; STILL WAITING: “Unfair or Deceptive” Credit Card Practices Continue as Americans Wait for New Reforms to Take Effect

October 29, 2009

First Data's Star network introduces pre-paid reloads

Global electronic commerce and payments processing leader First Data today announced that its Star Network is the first electronic funds transfer network (EFT) to launch load and reload support for Star-branded general purpose prepaid cards. Source: Finextra.com; First Data's Star network introduces pre-paid reloads

October 2009

TransCard Receives 2009 Best of Chattanooga Award

TransCard (www.transcard.com)undefineda leading provider of electronic payment and prepaid debit card solutions branded with MasterCard®, Discover®, STAR and PULSE associationsundefinedhas been selected for the 2009 Best of Chattanooga Award in the Prepaid Financial Services category by the U.S. Commerce Association (USCA). Source: Business Wire; U.S. Commerce Association’s Award Plaque Honors the Achievement