PSCU has inked a partnership with Member Driven Technologies (MDT) to provide call center support to MDT’s roster of credit union clients. MDT is the largest reseller of Symitar core processing services to the credit union market and has over 150 credit unions clients throughout the U.S.
CardWeb.com’s CardData Reports today features the
Middle Market Power Index: Taking the Global Stage from American Express and Dun & Bradstreet.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Chris Nelson, CEO and founder of Zoot Enterprises.
Frisco, TX-based Sheplers, a top multi-channel western-wear retailer specializing in cowboy boots has been hacked. The Company says the breach potentially impacts customers who used payment cards at Sheplers’ retail locations between June 11, and September 4. However, Sheplers does not believe the incident affected its online webstore.
The University of Montana Alumni Association (UMAA) and Commerce Bank have come together to offer UMAA members a Visa Signature® rewards credit card. The card offers Signature Rewards with high reward point values, unlimited earnings and bonus point opportunities as well as no annual fee. The University of Montana Alumni Association was founded in 1901 and now serves nearly 100,000 alumni across the country and around the world.
MoneyGram renewed an agreement with Albertsons LLC to offer services at more than 600 locations across the U.S. The renewed agreement with Albertsons LLC includes provisions for a system upgrade which will allow customers to interact face-to-face with customer care agents while completing their MGI transactions. The agreement also includes provisions for fresh signage that will direct customers to the service desk for all MoneyGram support.
TransUnion released its annual forecasts on two primary consumer credit variables — mortgage and credit card delinquency rates. Credit card delinquency rates (the ratio of bankcard borrowers 90 days or more delinquent on one or more of their credit cards) are expected to rise nearly 10% from 1.51% in Q4 2013 to 1.66% in Q4 2014. Even with that increase, the card delinquency rate would remain far below average historical levels. Between 2007 and 2012, the credit card delinquency rate has averaged 2.38% during the fourth quarter.
Heartland Financial USA announced Duane E. White was elected to the company’s Board of Directors. White is a founding director and investor in Minnesota Bank & Trust, a Heartland subsidiary established in 2008 with current assets of $127 million and a partner at Aveus, a management consulting firm. In his role, Mr. White provides executive level consulting to a variety of firms, focusing on improving performance and enhancing shareholder value with a particular focus on the financial services and health care industries. Prior to joining Aveus, he served as Managing Director at Polihua Holdings LLC, a consulting firm working with companies in the financial services and healthcare industries. Through his position with Polihua Holdings, Mr. White served as a consultant to Total System Services, Inc. (“TSYS”), leading TSYS’s healthcare initiatives, eventually joining the company as President of TSYS’s healthcare division.
Heartland Payment Systems has delivered more than $262,000,000 in signature debit savings to its merchant customers throughout the United States. Restaurant merchants received more than $75,000,000, lodging merchants received nearly $10,000,000, retail merchants received almost $30,000,000 and petroleum/c-store merchants received more than $55,000,000. The Durbin Amendment, part of the Dodd-Frank Wall Street Reform Act, caps debit card interchange rates for issuing banks with more than $10 billion in assets at 21 cents per transaction, plus one cent for issuers with an effective fraud prevention system, and 0.05% of the volume of transaction.
FIS banking and payments technology named Greg Montana Chief Risk Officer (CRO). Montana joins FIS after serving as senior vice president and senior operational risk executive for Bank of America®. Prior to joining Bank of America, Montana held the positions of senior director, global risk operations at PayPal™, Inc. and director, operational, credit and compliance risk for Lloyds Banking Group, PLC. FIS endeavors to be a model for excellence across all facets of information technology and continues to make significant advancements in managing operational risk across its entire global enterprise.
The American Bankers Association announces the formation of the Payment Systems Task Force, an assembly of bankers who will develop proactive strategies to ensure a strong, safe and efficient payments market. The task force will work to ensure new payment technologies promote competitive access for and participation by banks of all sizes and charters. The…
NCR Corporation forged agreements with Kum & Go to implement its Radiant c-store technology within each of the retailer’s 400+ stores. Kum & Go, the fifth largest privately held, company-operated convenience store chain in the United States, chose the Radiant solution to manage a wide range of its business operations from one system, including fuel island, foodservice and multichannel marketing initiatives. NCR acquired Radiant Systems to host more than 100,000 POS installations worldwide. Customers include leading brands and venues in the restaurant and food service, sports and entertainment, petroleum and convenience and specialty retail markets.