Bank of America (BofA) is starting today to add chip technology on all new and reissued consumer and small business debit cards. BofA has been issuing chip consumer, commercial and corporate credit cards in the U.S. since 2012.
Financial institutions (FIs) will now be able to able to instantly issue a fully personalized, activated physical magstripe or EMV debit or credit card and have the option to also issue a companion virtual payment credential.
eBay plans to separate the company’s eBay and PayPal businesses into independent publicly traded companies next year. eBay also put Dan Schulman in charge of overseeing the PayPal break-off. PayPal has more than 152 million active registered accounts.
The Merchants Payments Coalition (MPC) a/k/a UnfairCreditCardFees.com, says debit-card swipe fee reforms have saved consumers nearly $18 billion over the past three years and merchants have created more than 100,000 new jobs.
A new study has determined the security of credit and debit card information is a bigger concern for consumers than their health, retirement savings or losing their cell phone. Interestingly the survey found more than one-fifth of respondents stated they do not feel secure when paying with debit cards at retail establishments.
A benchmarking study on the retail gift card industry finds Sephora as ranking at the top. Starbucks ranked as number two and The Home Depot as number three.
Bank of America has introduced a new payment solution that enables companies to make payments to their customers digitally, eliminating the need to issue a check. With the new Digital Disbursements payments are directly routed to the bank account of the individual payee’s choosing using either a mobile phone number or email address as the identifier.
CardWeb.com’s CardExecs database of card industy movers and shakers today features Ray Costner, Chief Technology Officer of Corserv. Atlanta-based Corserv Solutions provides credit card servicing and consulting to the financial services community.
NY-based gtechna USA has teamed with Galveston, Texas Police Department for parking enforcement system that is based on the scan of license plates for parking fees. The Company is highly regarded innovator in parking solutions for the entire lifecycle of parking management.
Global Payments has unveiled two new kiosk offerings for casinos. The new LSX 3000 is the first electronic check cashing self service kiosk and the LSK 1500 is a full service casino kiosk.
With the departure of Dan Schulman, Group President of Enterprise Growth, to become CEO of PayPal, American Express names Neal Sample to become Enterprise Growth’s Chief Information Officer and Chief Marketing Technologist.
A new white paper explores how financial institutions can leverage the mobile channel as a sales platform. However, a mobile sales strategy demands the right tools, technologies and insights.