Cardline articles from June 2006

Cardline archives from June 2006

PCI OVERSIGHT BODY IN THE WORKS.(Payment Card Industry)(Brief article)
June 2, 2006... Five U.S. card networks reportedly are discussing the development of a formal organization to oversee the Payment Card Industry Data Security Standard, commonly known as PCI. The proposed entity, informally called PCICo, would include...

NO WIND FOR INDEPENDENT ATM FLEETS.(automated teller machines)(Brief article)
June 2, 2006... The number of ATMs operated by the 10 largest ATM independent sales organizations declined 6.4% from 2004 to 2005, according to a new survey by CardLine sister publication ATM & Debit News. The top 10 ATM ISOs operated 79,838 ATMs in the United...

PAYPAL SHOUTS YAHOO!, EMBRACES GE MONEY.(contracts of PayPal with Yahoo! Inc. and GE Money Bank)(Brief article)
June 2, 2006... PayPal was central to several deals this week with two firms that play major roles in the two industries it straddles - payments and the Web. PayPal's parent, eBay Inc., announced yesterday a strategic relationship in the United States with...

TWO-PART DINEROYA CARD SEEKS UNBANKED, IMMIGRANTS.(League of United Latin American Citizens offers prepaid cards, credit cards)(Brief article)
June 2, 2006... A Latino organization is offering its members a two-part card program that combines debit with prepaid cards, targets unbanked consumers, and provides a form of remittance services. The Florida chapter of the League of United Latin American...

CO-OP NETWORK BECOMES CO-OP FINANCIAL SERVICES.(the largest credit union changes it's name to Co-Op Financial Services)(Brief article)
June 2, 2006... Co-Op Network announced this week it has changed its name to Co-Op Financial Services to better reflect the breadth of its services. The firm is the largest credit union EFT network with 2,000 members, 25,000 surcharge-free ATMs and 24 million...

WELLS FARGO ATMs TO DROP ENVELOPES.(Wells Fargo Bank enhances it's automated teller machines)(Brief article)
June 2, 2006... San Francisco-based Wells Fargo Bank announced this week it will convert 400 ATMs in three northern California counties to accept cash and check deposits without envelopes by the end of the year. Wincor Nixdorf International manufactures the...

FASTLANE SIGNS FIRST MAJOR ISO.(independent sales organization )(Brief article)
June 2, 2006... Boulder CO-based Fastlane announced Thursday its first deal with an independent sales organization to resell its driver's license-based payments network and loyalty program. Business Payments Systems Inc., a New York ISO with more than 1,600...

BRIEFS.(PEMCO Technology Services provides service for United Credit Union)(Total System Services Inc. raises its quarterly dividend)
June 2, 2006... Pemco Technologies is providing card processing and rewards programs for United Credit Union in Mexico, MO, and Visa credit card processing for Illinois Community Credit Union.... Total System Services Inc. (TSYS) raised its quarterly dividend...

CITI DISCONNECTS AT&T REWARDS CARD.(Citigroup Inc.)(Brief article)
June 2, 2006... Citigroup last week informed cardholders it would close the AT&T Universal Cash Rewards credit card as of June 30. Citi decided to close the card "for business reasons," according to a spokesperson. The spokesperson declined to provide any...

BANKS NOT LIKELY TO RECOVER DEBIT BREACH LOSSES FROM MERCHANTS.(Brief article)
June 2, 2006... Merchants could be held liable for losses on debit cards arising from a breach of their processing systems, but it is unlikely major issuers will present retailers with a bill, according to a regulatory expert with the American Bankers...

CREDIT UNION PORTFOLIO SALES DOWN.(Brief article)
June 2, 2006... Thirteen credit unions with credit card portfolios having receivables of at least $1 million sold their card programs during the first quarter, down 41% from 22 sold in last year's first quarter, reports Brookwood Capital. Tim Kolk, Brookwood...

PET CREDIT CARD MAKES FOR LOYAL CARDHOLDER.(Bank of America Corp. teams with Hill's Pet nutrition Inc. to introduce PetRewards Visa credit card)(Brief article)
June 2, 2006... Pet owners can put a photo of Rover or Whiskers on the new Bank of America Corp. PetRewards Visa credit card. BofA teamed with Hill's Pet Nutrition, a division of Colgate-Palmolive Co., to launch the card. Cardholders can submit a photo of...

HOSPITAL PROVIDES GAS RELIEF.(Methodist Hospital System distributes petroleum gift cards to its employees)(Brief article)
June 2, 2006... The Methodist Hospital System in Houston has distributed $250 gift cards that can be used at Chevron and Texaco stations to each of its nearly 10,000 employees to help ease the stress of high summer fuel costs. Methodist also gives its...

OTI REVENUES RISE, BUT SO DO LOSSES.(On Track Innovations Ltd.)(Brief article)
June 2, 2006... Israel-based contactless technology vendor On Track Innovations Ltd. today reported first-quarter revenues of just over $9 million, up 38% from $6.5 million in the first quarter of 2005. The company reported a net loss of nearly $1.96 million,...

VERIFONE WILL SPREAD ITS TECHNOLOGY "LIKE LOCUSTS," SAYS BERGERON.(Douglas Bergeron, CEO, VeriFone Holdings Inc.)(Brief article)
June 2, 2006... The price of VeriFone Holdings Inc.'s stock has gone up about 320% since the company's initial public offering in April 2005, but Chairman and CEO Douglas Bergeron remains strongly bullish on both the company and the payment terminal market....

BRIEFS.(Visa U.S.A. Inc. appoints Robert Hackney)(Alex W. Hart joins VeriFone Holdings Inc.)(Payment Technologies LLC and Posdata Inc. form partnership)(Brief article)
June 2, 2006... Visa USA named Robert Hackney to its board. Hackney is president of Card Services for Credit Unions Inc. (CSCU).... Alex W. (Pete) Hart joined the board of VeriFone Holdings Inc. Hart, former president and CEO of MasterCard International, is...

MASTERCARD TAKES CHICAGO WITH PAYPASS.(MasterCard International Inc. promotes PayPass contactless cards)(Brief article)
June 2, 2006... MasterCard International has made a clean sweep of Chicago sports teams, announcing that its PayPass contactless cards and key fobs will be accepted at concession stands at the stadium homes of baseball's world champion White Sox, the Cubs, and...

INVESTORS BID $48.75 FOR WEST CORP.(Thomas H. Lee Partners)(Brief article)
June 2, 2006... Omaha, Neb.-based West Corp., has agreed to a buyout valued at about $4.1 billion from an investor group led by Thomas H. Lee Partners in Boston and Quadrangle Group LLC in New York. West operates call centers and automated voice and data...

MINNESOTA WILL SEE AUGUST CREDIT FREEZE.(Brief article)
June 2, 2006... Minnesota became the 13th state to allow consumers to freeze access to their credit reports after Gov. Tim Pawlenty signed the measure yesterday. The law, designed to prevent identity theft, takes effect August 1. While the law allows consumers...

DEBIT KEEPS RISING IN CANADA.(usage of debit cards grows)(Brief article)
June 2, 2006... Debit card use is growing at 10% a year in Canada and debit cards are catching up with cash as Canadians' favorite way to pay, according to an analysis of 2004 data by the Bank of Canada, the country's central bank. Canadians made 2.8 billion...

ONLINE SALES TO TOP $200 BILLION IN 2006.(Brief article)
June 2, 2006... Online retail sales will reach $211.4 billion this year, a 20% rise from $176.4 billion in 2005, according to the 2006 State of Retailing Online, a study conducted by Forrester Research Inc. for Shop.org, the online arm of the National Retail...

MONERIS TARGETS SMALL BUSINESSES WITH GIFT CARDS.(Moneris Solutions Inc.)
June 2, 2006... Processor Moneris Solutions, Inc., announced today it is offering small- and mid-sized business owners a gift card program that includes start-up packages and the option of printing a company name or logo on the cards. "Most gift card programs...

VISA WILL INTEGRATE VISA PLUS WITH VISANET.(Visa U.S.A. Inc.)(Brief article)
June 2, 2006... Visa USA announced today plans to run ATM transactions initiated on its Visa Plus ATM network through the association's VisaNet payment card processing system in a move to bolster ATM transaction security. ATM fraud detection on Visa Plus...

BRIEFS.(Fifth Third Bank (Cincinnati, Ohio) introduces credit card)(NCR Corp. appoints Peter Lieb )(AmbironTrustWave Ltd. partners with The Logic Group)(Brief article)
June 2, 2006... AmbironTrustWave Ltd. partnered with the United Kingdom's The Logic Group to jointly offer card security products in Europe.... NCR Corp. named Peter Lieb senior vice president, general counsel and secretary. Lieb had been with Symbol...

SALLIE MAE PROMISES TO PURCHASE UPROMISE.(Brief article)
June 2, 2006... SLM Corp., or Sallie Mae, the student loan company, today announced that it has agreed to purchase Upromise Inc. for an undisclosed price. The agreement comes a week after Upromise, a Needham, Mass., company that administers college savings...

CALIFORNIA BILL CALLS FOR STATEWIDE E-PAYMENT SYSTEM.
June 2, 2006... The California Assembly yesterday passed a bill mandating the establishment of an online electronic payment system for state agencies. Assembly Bill 2098 now moves to the state Senate for consideration. The bill requires California's Department...

SECURITY FEARS KEEP DOWN DEMAND FOR CONTACTLESS CARDS.(Brief article)
June 2, 2006... Consumer fears about the security of contactless payment cards are damping down demand for the technology, says Bob Carr, chairman and CEO of Princeton, N.J.-based merchant acquirer Heartland Payment Systems Inc. "There is tons and tons of...

BANKS ASK FCC FOR RELIEF FROM AUTODIALER BAN.(Federal Communications Commission)(Brief article)
June 2, 2006... The American Bankers Association and Consumers Bankers Association have joined debt collectors in urging the Federal Communications Commission to amend its 2003 ruling banning the use of automated dialers to call cell phones. Banks often use...

CARDS CAN HELP SPUR NATIONAL BRAND RECOGNITION.(Brief article)
June 2, 2006... By marketing their credit card programs to an expanded audience, a few banks have been able to secure better national recognition of their brands, an increasingly important goal in an era of banking-industry consolidation. And this strategy can...

BANKRUPTCY FILINGS CONTINUE RECORD LOW.(Brief article)
June 2, 2006... Bankruptcy filings fell to a 21-year low in the first quarter of this year with only 116,771 filed nationally, reports the Administrative Office of the United States Courts, which provides support services to the federal courts. Filings in the...

SUMMER SEMINARS COVER FRAUD, DEPTH OF INDUSTRY.(credit unions hold seminars to create awareness about payment card fraud)
June 2, 2006... The (somewhat) lighter workload in the summer gives some in the payments industry an opportunity to get away for a day for a work-oriented seminar. PSCU Financial Services, a St. Petersburg, Fla.-based credit union organization is holding 10...

NEW HAMPSHIRE IS 14TH STATE TO PERMIT CREDIT FREEZE.(identity theft prevention regulation)(Brief article)
June 9, 2006... New Hampshire Gov. John Lynch yesterday signed into law a bill that allows state residents to request a "credit freeze" from credit reporting agencies in order to prevent identity thieves from abusing their credit. The law is effective Jan. 1,...

TWO MILLION CARDS STOLEN IN FIRST FOUR MONTHS.(Secure Science Corp.'s data security services)(Brief article)
June 9, 2006... Secure Science Corp., San Diego, identified and recovered data on more than 2 million stolen credit cards worldwide in the first four months of 2006 through its surveillance services. For example, the company monitored one group of on-line...

SECURITY COMPROMISES OVERSHADOW FUN, WORSHIP, SCHOOL.
June 9, 2006... There are new reports of compromises of personal data in three very different settings. Mann Theatres, a chain of 18 Los Angeles-area movie theaters that includes the historic Grauman's Chinese Theatre, announced May 19 that it had been...

RETAIL DECISIONS REJECTS ACQUISITION PROPOSAL.(FleetCor)(Brief article)
June 9, 2006... Retail Decisions plc, a UK-based provider of fraud-detection systems and operator of fuel-card programs, has turned down a preliminary acquisition proposal by Norcross, Ga.-based FleetCor. Retail Decisions announced last month that it had...

AMERICAN EXPRESSS OFFERS DISCOUNT CARD.(Brief article)
June 9, 2006... American Express introduced a new Discount Card offered to purchasers of at least $500 in American Express Travelers Cheques products. Purchases must be made between June 1 and Aug. 31. Travelers Cheques products include U.S. Travelers Cheques,...

COLLECTION SALARIES ON THE RISE.(Brief article)
June 9, 2006... Collection salaries increased an average of 3.39% from March 2005 through the start of June 2006, according to an exclusive Collections & Credit Risk magazine analysis of data compiled by Web site Salary.com. Salaries were relatively stable...

BRIEFS.(AmbironTrustWave acquires Lucid Security Corp.)(Auriemma Consulting Group Inc. opens London office)(TD Banknorth launches No ATM Fees card )(Brief article)
June 9, 2006... Chicago data security and compliance firm AmbironTrustWave has purchased Philadelphia-based Lucid Security. Lucid creates software to keep intruders out of computerized data systems.... TD Banknorth has introduced a No ATM Fees card in...

ENCORE CAPITAL SEEKS TO BOOST SHAREHOLDER VALUE.(planning new ownership structure)(Encore Capital Group establishes a special committee )
June 9, 2006... Major debt buyer Encore Capital Group announced today it has formed a special committee to "consider strategic alternatives," including possibly selling the company, because its value is "not being fully realized in the public markets,"...

SEC INVESTIGATING TIER; COMPANY CEO RESIGNS.(Securities and Exchange Commission, Tier Technologies Inc.)(Brief article)
June 9, 2006... Tier Technologies Inc., a Reston, Va.-based processor of transactions, including electronic tax transactions, for local, state and federal government agencies, on Friday announced that it received a subpoena from the U.S. Securities and...

ATM DIRECT ENABLES INTERNET PIN-DEBIT PAYMENTS.(online payment services)(Brief article)
June 9, 2006... An unnamed online merchant will begin in July a pilot of an Internet payment service that keeps the PIN in PIN-debit transactions. The service is offered by Pay By Touch's ATM Direct division. Debit cards have been used for certain Internet...

CALIFORNIA TESTS A FAST LANE FOR REGISTRATION RENEWALS.(Department of Motor Vehicles to install touch screen terminals from Intellectual Technology Inc.)(Brief article)
June 9, 2006... Several Southern California Department of Motor Vehicle locations are piloting touch-screen terminals outside their offices. The kiosks enable drivers to receive and renew registration cards and license plate tags on the spot 24 hours a day,...

AFFILIATED SIGNS ONTO L.A. SMART CARD TRANSIT PROJECT.(Affiliated Computer Services Inc. signs contract with Los Angeles County Metropolitan Transportation Authority)(Brief article)
June 9, 2006... Dallas-based Affiliated Computer Services, Inc. will set up and run a smart card service center for the Los Angeles County Metropolitan Transportation Authority, Affiliated said today in a statement. The transit agency is creating a smart card...

CANADIANS ATEMPT TO EASE AGGRESSIVE DEBT COLLECTION: CANADIANS ATEMPT TO EASE AGGRESSIVE DEBT COLLECTION.(regulation)(Brief article)
June 9, 2006... New rules aimed at curbing aggressive debt collecting took effect yesterday in Ontario, where personal debt is at a record level and debt collectors generate the most complaints of any industry. The Collection Agencies Act limits the number of...

ACIES GIVING AWAY CONTACLESS TO A RETAILER NEAR YOU.(marketing)(Brief article)
June 9, 2006... Acies Corp., a New York-based financial services company, today announced a month-long promotion designed to promote contactless payment adoption among retailers. The initiative, tagged the ABC Program, or the Acies Best in Contactless Program,...

BRIEFS.(Fiserv Inc. contracts Communication Intelligence Corp.)(Liberty Safe and Security Products Inc. contracts Shoppers Charge Accounts Co.)(MasterCard International Inc. donates to National Center for Missing and Exploited Children )(Brief article)
June 9, 2006... Purchase, N.Y.-based MasterCard International and the National Center for Missing and Exploited Children (NCMEC) today announced that MasterCard has become a corporate sponsor and will be donating $100,000 to NCMEC...Safe provider Liberty Safe...

LOAN DELINQUENCY RISES 2% IN 2005, CBA SAYS.(Consumer Bankers Association )(Brief article)
June 9, 2006... The consumer loan delinquency rate rose 2% in 2005 compared with 2004, according to the Arlington, Va.-based Consumer Bankers Association's annual Consumer Credit Collection Survey. CBA published results from data provided by 43 U.S. financial...

MORE CANADIAN MERCHANTS SPEEDING SMALL PAYMENTS.(usage of MasterCard International Inc.'s services)(Brief article)
June 9, 2006... More than 20,000 merchant locations in Canada are enrolled in MasterCard International's Quick Payment Service, MasterCard announced this week. The service eliminates the need for signatures or receipts for small purchases up to certain amounts...

L.A. TRANSIT RIDERS TO GET SMART CARDS.(Los Angeles County Metropolitan Transportation Authority to use smart transit cards )(Brief article)
June 9, 2006... Smart cards for riders of Los Angeles County's bus and subway systems should be in some consumers' hands by fall, an official overseeing the program tells CardLine. The cards first will be issued to holders of annual transit passes as well as...

NOVA SELECTS HYPERCOM AS PREFERRED TERMINAL PROVIDER.(Nova Information Systems Inc.)(Brief article)
June 9, 2006... Atlanta-based payment processor Nova Information Systems today announced it has selected Phoenix-based Hypercom Corp. as its preferred provider of card payment terminals and peripheral devices. Nova, a wholly owned subsidiary of U.S. Bancorp...

PARKING FIRM ADDS CARD PAYMENT TO METERS.(MacKay Meters uses wireless payment card terminals from Payment Processing Inc.)(Brief article)
June 9, 2006... New Glasgow, Nova Scotia-based MacKay Meters is adding a wireless payment card terminal to a line of its parking meters, says Payment Processing Inc., the Newark, Calif.-based company that is supplying the payment-processing technology. The new...

U.S. BANK, CABELA'S OFFER CARD FOR OUTDOOR ENTHUSIASTS.(Brief article)
June 9, 2006... Minneapolis-based U.S. Bank and the Sidney, Neb.-based Cabela's outdoor equipment retailer are issuing a debit rewards program for U.S. Bank-issued Visa check cards carrying Cabela's brand name, according to a statement from the two companies....

BRIEFS.(Capital One Financial Corp. promotes Jory Berson)(Hypercom Corp. promotes O.B. Rawls, and appoints John H. Andrews )(J. Paul Co. to use ATM Direct software from Pay By Touch )(Brief article)
June 9, 2006... Jory Berson, executive vice president of U.S. card operations at Capital One Financial Corp., today was named head of the company's U.S. card business, effectively immediately.... Hypercom Corp. has promoted O.B. Rawls to senior vice...

HOUSE COMMITTEE HALTS IRS PLAN TO USE PRIVATE DEBT COLLECTORS.(House Committee on Appropriations blocks Internal Revenue Service's plans to handover taxpayer files to collection agencies)(Brief article)
June 9, 2006... The Internal Revenue Service's controversial plan to use private collection agencies to go after unpaid taxes hit a roadblock yesterday when the U.S. House Appropriations Committee voted to block IRS use of money appropriated to pay the outside...

CEO COMPENSATION UP IN 2005.(chief executive officers)(Brief article)
June 9, 2006... Top payments industry executives were paid well in 2005, with overall compensation up 42% despite a drop in salaries, according to CardLine sister publication Cards&Payments magazine. For an article in its June issue, Cards&Payments and...

LATIN AMERICA AND CARIBBEAN BOOST VISA'S PREPAID AND DEBIT VOLUME.(Visa International)(Brief article)
June 9, 2006... Visa International reported yesterday that Visa debit and prepaid cards issued in Latin America and the Caribbean generated $30 billion in purchase volume last fiscal year, up 52% from the previous year. The number of debit cards issued in the...

CYBERSOURCE INTRODUCES PROCESSING SERVICE FOR ONLINE MERCHANTS.(Brief article)
June 9, 2006... Mountain View, Calif.-based processor CyberSource Corp. has come out with a service that stores and processes cardholder data for Internet merchants, a CyberSource spokesperson tells CardLine. CyberSource's Payment Data Management handles and...

ASTA STOCK SLIPS AFTER ANALYST ISSUES RATING.(Asta Funding Inc.)(Brief article)
June 9, 2006... Shares of Asta Funding Inc., an Englewood Cliffs, N.J.-based debt collector, declined in afternoon trading yesterday after an analyst initiated coverage with a Reduce rating, which suggest holders should sell. Mark Hughes at SunTrust Robinson...

PROVIDENT INKS SURCHARGE-FREE ATM DEAL WITH GENPASS.(Provident Bank of Maryland)(Brief article)
June 9, 2006... Baltimore-based Provident Bank has signed a deal with Genpass Inc., a subsidiary of U.S. Bank, to use Genpass's MoneyPass surcharge-free ATM network. As part of the deal, Provident's debit cardholders will have fee-free access to about 10,000...

BRIEFS.
June 9, 2006... Prepaid card provider Ecount Inc. has joined Cavalier Telephone Corp., a voice and high-speed Internet company, for a Refer-A-Friend reward program offering new Cavalier customers and those who referred them an Ecount prepaid Visa card loaded...

LOW-INCOME CONSUMERS CAN BE PROFITABLE, KEYBANK SAYS:.(Brief article)
June 9, 2006... KeyBank, which has redesigned 20 branches in its home town of Cleveland to appeal to lower-income consumers, believes there is profit potential in this oft-ignored segment, according to five bank executives who spoke this morning at the opening...

CONSUMERS TAKE ON MORE DEBT.(consumer credit)(Brief article)
June 9, 2006... Consumers went on a borrowing binge in April, surprising economists who were expecting more modest gains in consumer credit. At least one economist cautioned, however, that April could turn out to be an anomaly instead of the start of increased...

RSA SECURITY SAYS FRAUDSTERS TARGET SMALLER BANKS.(Online Fraud Intelligence Report)(Brief article)
June 9, 2006... Regional banks and credit unions caught the eyes of more fraudsters in May, according to RSA Security's monthly Online Fraud Intelligence Report. Those smaller financial institutions attracted 62% of the online attacks in May, the report says....

FIRST DATA STARTS WESTERN UNION SPIN-OFF.(Brief article)
June 9, 2006... First Data Corp. filed documents today with the U.S. Securities and Exchange Commission to spin off its Western Union money-transfer division. First Data, which announced plans for the divestiture in January, says it would like to complete the...

MASTERCARD, VISA ROAD TRIPS TO TEACH MERCHANT DATA SECURITY.(MasterCard International Inc., Visa U.S.A. Inc., marketing)(Brief article)
June 9, 2006... MasterCard International is bringing its merchant-security show on the road. MasterCard will hold a series of free security seminars for merchants in U.S. cities throughout the year, the company announced yesterday. Held in partnership with the...

PAYMENTS NETWORKS PROPOSED AS MODEL FOR HEALTH DATA EXCHANGE.(Senate proposes development of an electronic health records bank)(Brief article)
June 9, 2006... Legislation introduced in the U.S. Senate calls for the development of an electronic health records "bank" modeled on payments networks used by retail banks and credit card companies. The bill would create an electronic records network that...

BRIEFS.(TSYS Acquiring Solutions signs contract with Delta Payment Solutions Inc.)(Mint Technology Corp. appoints Jonathan Carroll)(Brief article)
June 9, 2006... TSYS Acquiring Solutions, a subsidiary of Columbus, Ga.-based Total Systems Services Inc., has signed a deal to provide merchant-processing services for Houston-based Delta Payment Solutions, Inc....Jonathan Carroll, president of Mississauga,...

BANKRUPTCY LAW DOES LITTLE FOR CARD ISSUERS, PANEL SAYS.
June 16, 2006... Good idea, bad execution. That is the consensus among several creditors' attorneys and bankruptcy experts regarding the new federal bankruptcy law enacted last October. From mandatory credit counseling to the income means test, they say the law...

IN-HOUSE COLLECTIONS PREVAIL AT BANKS.(Brief article)
June 16, 2006... Banks are depending more on their own employees to collect delinquent accounts instead of farming them out to third-party collection agencies, bankers said yesterday at the Consumer Bankers Association's collections conference in New Orleans....

PREPAID PROGRAM ENABLES MODEST SAVING.(Financial Service Centers of America partners with NetSpend Corp. )(Brief article)
June 16, 2006... A year-old prepaid card program is helping unbanked consumers save money while helping financial-service providers retain customers. In May 2005 members of the Hackensack, N.J.-based Financial Service Centers of America teamed with NetSpend...

CASH REMITTANCES OFFER ISSUING BANKS EXPANDED CUSTOMER BASE.(SourceMedia's Underbanked Financial Services Forum)(Discussion)(Brief article)
June 16, 2006... The opportunity for bank prepaid card issuers to provide remittance services through their product offerings is vast, contend panelists who spoke yesterday at SourceMedia's Underbanked Financial Services Forum. Several issuing banks and credit...

AMEX LAUNCHES RESTAURANT PARTNERSHIP PROGRAM.(American Express Co.)(Brief article)
June 16, 2006... American Express Co. yesterday announced the availability of a kit designed to provide a single location AmEx-accepting restaurateurs can access to better understand the benefits AmEx offers them. AmEx is providing the free Restaurant...

BARCLAYS TO PROVIDE EXCHANGE SERVICE.(to TransFirst L.L.C.)(Barclays Bank PLC)(Brief article)
June 16, 2006... TransFirst, a U.S.-based card processor, is partnering with Barclays Bank plc, the UK-based banking giant, in a deal that gives TransFirst access to Barclays' international acquiring services, TransFirst says. U.S. merchants also will be able...

BRIEFS.(POSDATA Inc. signs distributon agreement with Hypercom Corp.)(Paymetric Inc. appoints Michael Bellardine)(Worldwide Media Development Holdings Group Inc. acquires ABC Cash Services)(Brief article)
June 16, 2006... Gig Harbor, Wash.-based Posdata Inc. has signed a deal with Phoenix-based payment terminal maker Hypercom Corp. to distribute Hypercom's Optimum L4100 signature-capture terminal. Paymetric Inc., a Houston-based company whose electronic systems...

GOOGLE PAYMENT SERVICE GETS SET TO TAKE ON PAYPAL.(Google Inc.)(Brief article)
June 16, 2006... PayPal Inc. will face a new competitor this month when online search tool Google Inc. launches its payment system GBuy on June 28, says Jordan Rohan, an analyst with RBC Capital Markets. In a report issued Friday, Rohan says Google's GBuy is an...

DISCOVER ENTERS SMALL BUSINESS MARKET.(Discover Financial Services Inc.)(Brief article)
June 16, 2006... When you get handed lemons you make lemonade, right? The card industry has long sought to expand its presence in the small business market but has been stymied by the dominance of checks as the accepted method of payment. Discover Financial...

NEW YORK HAS TRIO OF NEW LAWS TO COMBAT ID THEFT.
June 16, 2006... New York Gov. George E. Pataki signed three bills June 9 that are intended to help consumers defend themselves against identity thieves, require businesses to properly discard documents and records containing personal information, and prohibit...

TIRED OF AIRPORT DELAYS? VISA HAS A REWARD FOR YOU.(Visa U.S.A. Inc. contracts with Verified Identity Pass Inc.)
June 16, 2006... Travelers based in California and Colorado who frequently charge airline tickets to their Visa cards can expect soon to receive a discount offer on a smart card that lets them use a special airport security lane. Visa USA announced today that...

PEPPERCOIN ADDS LOYALTY PROGRAM.(Peppercoin Inc.)(Brief article)
June 16, 2006... Peppercoin Inc., the Waltham, Mass.-based micropayment technology vendor, announced today a loyalty program designed for small-value transactions. Mark Friedman, Peppercoin's CEO, tells CardLine the program is designed to reward consumers for...

MAY SHOWERS FOR PROCESSOR STOCKS.(CyberSource Corp.)(Electronic Clearing House Inc.)(iPayment Inc.)(Brief article)
June 16, 2006... The stocks of 14 electronic transaction processors may have foretold last week's decline in the broader stock market, dropping an average of 4.35% in May, according to Barrington Research's monthly report on the companies. In May, the Dow Jones...

BRIEFS.(CardTronics partners with J.P. Morgan Chase and Co.)(Brookwood Capital appoints Richard J. Ranuto)(Zoot Enterprises appoints Vicki Crum)(Brief article)
June 16, 2006... Independent ATM operator Cardtronics Inc. teamed with JPMorgan Chase & Co. to label 317 ATMs in Walgreen drugstores in Florida with the Chase logo, joining 70 ATMs in the state already carrying the Chase brand.... Richard J. Ranuto joined card...

WELCOME TO WALL STREET-HEDGE FUND BUYS BIG STAKE IN MASTERCARD.(Atticus Management LLC acquires 5.09 percent shares of MasterCard Inc.)(Brief article)
June 16, 2006... It did not take long for an aggressive hedge fund to place a big bet on the payments industry's hottest new public company, as New York-based Atticus Management LLC last week reported to the Securities and Exchange Commission that it had...

BIOMETRICS STEADY BUT FAR BEHIND CONTACTLESS.(Brief article)
June 16, 2006... The biometric payment technology market could be worth nearly $7 billion worldwide in 2010 as merchants seek better ways to verify customers' identities at the point of sale, according to a new report from Mercator Advisory Group. The market...

STUDY SAYS DEBT-MANAGEMENT PLANS CAN HELP.(Brief article)
June 16, 2006... As the IRS cracks down on nonprofit credit-counseling agencies that send too many consumers into debt-management plans, a study commissioned by American Express reports that consumers who enrolled in debt-management plans saw improved credit...