Wal-Mart is urging retailers to reject a proposed $6 billion settlement that Visa, MasterCard and major banks have agreed to pay retailers for alleged fee fixing. The settlement had been considered a victory for retailers, settling a lawsuit alleging that card issuers conspired to fix merchants’ fees for accepting credit cards. Stores will be allowed…
TSYS posted 2Q/12 total revenues of $462.7 million, up 3.4% over from the year ago period. TSYS believes it will achieve the high end of its 2012 guidance for net income and EPS thanks in part to its Board of Directors has approved increasing the number of shares that may be repurchased under its current…
Chase launched the latest Disney Visa Debit Card, offering access to special Cardmember perks when visiting Walt Disney World® and the Disneyland® Resorts and when shopping at DisneyStore.com and Disney Store locations. With no annual fee, Disney’s Visa Debit offers Cardmembers 10% off on select merchandise purchases of $50 or more at DisneyStore.com and Disney Store locations and at select locations at Walt Disney World® and the Disneyland® Resorts; access to a private Cardmember location at Walt Disney World® and the Disneyland® Resorts; 10% off select dining locations at Walt Disney World® and Disneyland® Resorts; 20% off the non-discounted price of select guided tours; $50 onboard credit when Cardmembers pay for their Disney Cruise Line® vacation in full with their Disney’s Visa® Card and mention this offer; and access to a dedicated toll-free customer service phone number.
Capital Payments has merged with Bluefin Payment Systems in an effort to stay ahead of a growing demand for secure gateway solutions in the payment industry. Capital Payments will begin offering payment acceptance technology solutions leveraging Bluefin’s processing platform, which specializes in secure payment processing solutions, including tokenization, end-to-end encryption, transparent redirection, and mobile payments. Bluefin Payment Systems was founded in 2002 by Ruston Miles to provide the market with a suite of advanced payment acceptance solutions as well as services that help take merchants out of PCI compliance scope.
U.S. Bank fuel card services for Class 1-6 cars and light trucks, is entering the large commercial truck market with the acquisition of TransCard’s Class 7-8 fuel card network, including the product technology and its nationwide acceptance network. The platform was developed by TransCard in partnership with U.S. Xpress, the nation’s second-largest privately owned truckload carrier, which will become the premier client of the new dual-function U.S. Bank Over The Road Card program, scheduled to launch in September. The MasterCard prepaid account allows direct deposit of payroll or other funds onto the card, which can be used wherever Debit MasterCard is accepted.
Financial Transaction Services (FTS), a full-service provider of electronic transaction processing services, has selected Trustwave to provide PCI DSS compliance validation solutions for its merchants. FTS engaged Trustwave to provide its merchants with access to TrustKeeper(R) PCI Manager, Trustwave’s innovative security and compliance cloud portal. TrustKeeper PCI Manager simplifies merchants’ compliance efforts including moving merchants through the complex compliance process with greater ease and efficiency by making the tasks achievable for non-technical users. This helps facilitate PCI DSS compliance validation for merchants or acquirers, independent services organizations (ISOs), and processors with large merchant populations.
Chase Slate with Blueprint released survey findings on how back-to-school shoppers are managing their spending and borrowing, indicating shoppers are taking a more financially responsible approach. With this, 38% indicate they have a set budget for school-related expenses; in 2011, only 26 percent of people had created a budget for their back-to-school shopping. Clothing is the top category in regards to largest expense, as disclosed by 43% of back-to-school shoppers. This was followed by books or technology, according to 24% and 23% of respondents, respectively. To save money, 39% will purchase necessities such as books first and only buy discretionary items with remaining funds; 34% will make a list and stick to it; 26% will shop online; 17% will begin shopping after school starts; and 7% will leave kids at home when shopping.
Fiserv financial services technology solutions launched a mobile app for its UChoose Rewards debit and credit card rewards program, letting participant use a mobile app to check and redeem their reward points. Participants can also scan UPC codes on merchandise in a store to determine if the item is available through their rewards program and how many points are required to purchase it. UChoose Rewards participants can download the mobile application from Google Play for use on Android™ devices or iTunes® for use on iPhone® or iPad devices. Fiserv also launched a new UChoose Rewards participant website, giving cardholders enhanced search functionality to make redeeming points easier.
Encore Networks Machine-to-Machine (M2M) solutions for fixed and wireless communications, announced that WorldPay US certified Encore’s line of C2C routers for wireless ATM transactions. The C2C router was approved for global wireless transactions over the WorldPay processing platform. The C2C is immediately available to WorldPay ATM clients. Encore Networks and its C2C™ line of wireless and wireline routers will be on display at the 2012 WorldPay ATM Distributor Conference. This year’s conference is being held September 18 – 20, 2012, in Atlanta, GA.
Customers have initiated more than one billion sessions through Wells Fargo Apps, wf.com and text banking throughout its five years of existence. Wells Fargo has introduced a variety of new mobile offerings, including Apps for Android, iPhone, BlackBerry and Palm devices, alerts and mobile bill pay services. In addition, Advanced Access was added that enables customers to receive a one-time passcode on their mobile devices to authenticate their online credentials. Most recently, Wells Fargo initiated a pilot of its Wells Fargo Mobile Deposit service where customers can deposit most checks directly into their eligible Wells Fargo checking or savings account using the Wells Fargo Mobile App on supported Apple and Android devices.
SecureNet Payment Systems payment processing technology announced Sterling Partners led an additional $18 million growth equity investment in SecureNet. SecureNet connects merchants, financial institutions and their customers by providing advanced payment technology to deliver a fully integrated, one-stop payment solution that is easy-to-use, secure and affordable for merchants of all sizes. The company processes more than $12 billion in transaction volume and services 14,000 merchants annually.
Western Union launched its Gold Prepaid Card with VISA International and UnionBank of the Philippines. This will allow the cardholder to direct Western Union Money Transfer transactions directly onto the card by sending a text message, calling a customer-service hotline, visiting Western Union’s website or visiting a Western Union Agent location. The Western Union Gold Prepaid Card will introduce many Filipinos to the financial mainstream in a nation where, according to the World Bank, just 27 percent of adults over the age of 15 have bank accounts. In addition to remittances, cardholders can load their paychecks, government payments, their own cash and other earnings directly onto the card. It requires no minimum balance and includes a loyalty program.