Cardline articles from June 2008

Cardline archives from June 2008

MASTERCARD BOOSTS LONG-TERM PROFIT TARGETS.
June 6, 2008... MasterCard Worldwide predicted double-digit net-revenue growth for the year and boosted its long-term profit outlook yesterday during a conference with analysts, marking the second anniversary of the company going public in May 2006. Robert W....

CARD SOLICITATIONS ARE GENERALLY DOWN FROM LAST YEAR.
June 6, 2008... During the first quarter, U.S. households received an estimated 1.13 billion credit card offers in the mail, down 18% from 1.37 billion during the first quarter of 2007, according to the latest Synovate Mail Monitor report, released Wednesday....

CONSUMER CONFIDENCE PLUNGES.
June 6, 2008... Consumer confidence in the U.S. economy and their own financial well-being in May fell to its lowest level since June 1980, according to the Reuters/University of Michigan Surveys of Consumers, released today. The May Index of Consumer...

NEW FIRM OFFERS GEN Y PREPAID CARD, MERCHANT MARKETING.
June 6, 2008... EdoInteractive, which combines the popularity of prepaid cards, social networking and mobile services among the Generation Y set, launched this week. CEO Ed Braswell tells CardLine he came up with the concept for the company and its products...

INCENTIVES HELP DRIVE DEBIT CARD AWARENESS, USE.
June 6, 2008... An ongoing campaign to boost debit card use among cardholders of PSCU Financial Services' credit-union members is meeting with growing success, Merry Pateuk, a PSCU spokesperson, tells ATM&Debit News, a CardLine sister publication. Debit card...

CENTER INVESTS IN PAYMENTS, LENDING FIRMS.
June 6, 2008... The Center for Financial Services Innovation announced Wednesday that it has invested in iSend, an international payments company, and Progress Financial Corp., a lending company focused on Hispanic immigrants. The Chicago-based center, which...

INTERCHANGE RATES TO DROP WITHIN THREE YEARS.(Brief article)
June 6, 2008... ANALYST: Global interchange rates could fall by 15% within the next three years, says Rob Walker, an analyst at London-based RBR Research Ltd. "I can foresee a situation where the rates on MasterCard and Visa [transactions] in the United States...

BRIEFS.
June 6, 2008... Payment Data Systems Inc., an independent sales organization for MetaBank and Merrick Bank Corp., announced Wednesday it has formed a new subsidiary called FiCentive Inc. to provide prepaid cards for corporations and financial institutions....

FIRST DATA CONTINUES PROCESSING FOR FRONTIER AIRLINES.
June 6, 2008... First Data Corp. and Frontier Airlines Holdings Inc. on Friday announced an agreement in which the Greenwood Village, Colo.-based payments processor will continue to process Visa and MasterCard charges for the airline's customers. The agreement...

MERCATOR: CHANGE ENDANGERS PROFITS IN PREPAID CARDS:.(Brief article)
June 6, 2008... Changes to prepaid cards reduce profits for program managers, according to a report released last week by the Mercator Advisory Group Inc., a Waltham, Mass-based consultancy. Each change affects many parts, such as telephone call centers and...

60% OF ONLINE DONORS SUPPORT DEMOCRATS FOR PRESIDENT.(Survey)(Brief article)
June 6, 2008... Sixty percent of households that contributed online to a presidential campaign supported a Democratic presidential candidate, according to Synergistics Research Corp. More than one-fifth of the respondents, or 22%, made online donations to a...

TRANSUNION SETTLES SUIT OVER SELLING MARKETING LISTS.
June 6, 2008... A U.S. District Court judge in Chicago last week approved a preliminary settlement of a class-action lawsuit against TransUnion that claimed the Chicago-based credit bureau violated the Fair Credit Reporting Act when it sold marketing lists....

SERVERSIDE OFFERS ENTRY-LEVEL VERSION OF CARD CUSTOMIZATION.(Brief article)
June 6, 2008... ServerSide Group is offering smaller issuers a less-expensive version of its card-customization service, the London-based company, whose U.S. headquarters is in New York, announced today. The entry-level version of ServerSide's AllAboutMe...

IN AMERICA, CANADIANS OUTSPEND U.S. CONSUMERS ON DEBIT CARDS.
June 6, 2008... When Canadian shoppers come to the United States, they spend significantly more on their average debit card transaction than their U.S. counterparts spend while shopping at home. That information comes from a report on cross-border PIN-debit...

VERIFONE SLICES EUROPEAN MANAGEMENT TEAM INTO TWO UNITS.
June 6, 2008... VeriFone Holdings Inc. is splitting its European sales-management team into two units, the point-of-sale terminal maker announced today. One group, headed by Nigel Bidmead, senior vice president and managing director, will sell in the United...

BRIEFS.
June 6, 2008... Heartland Payment Systems Inc., a payment processor, say it has completed its $77.5 million acquisition of Alliance Data Systems Corp.'s network services business (CardLine, 5/16)....Wachovia Corp. CEO Ken Thompson is retiring "at the request...

CLARIFICATION.(Correction notice)
June 6, 2008... PSCU Financial Services' goal is to move both debit and credit cards to the tops of consumers' wallets, not just debit cards as stated in Friday's CardLine. (c) 2008 CardLine and SourceMedia, Inc. All Rights Reserved....

MASTERCARD'S BULLISH GROWTH OUTLOOK JUSTIFIED, ANALYSTS SAY.
June 6, 2008... The rosy outlook for profits outlined last week by MasterCard Worldwide is justified, with a few caveats, analysts at Stifel, Nicolaus & Co. note in a report issued today. The Baltimore, Md.-based research company raised its price estimate for...

DESPITE HOUSING-MARKET WOES, HSBC TO KEEP INVESTING IN AMERICA.(Brief article)
June 6, 2008... HSBC Holding plc's U.S. credit card business, which consists of 50% prime and 50% nonprime customers, "continues to remain profitable, and we are now running our cards business worldwide as one global business, with HSBC Finance leading the...

TARGET CORP. Q1 INCOME DOWN, BUT CARD REVENUE RISES 20%.(Financial report)
June 6, 2008... Target Corp. had net income of $602 million for its fiscal first quarter ended May 3, down 7.5% from $651 million in the same three months last year, the retailer and card issuer reported late Monday. Credit card revenues totaled $500 million,...

CHEVRON FEDERAL CREDIT UNION MOVES 55,000 DEBIT CARDS TO PSCU.
June 6, 2008... PSCU Financial Services, a credit-union service organization, has signed a five-year agreement with Chevron Federal Credit Union to convert 55,000 debit cards to PSCU Financial's debit platform, the companies announced Monday. Oakland,...

MASTERCARD RESURRECTS MR. BILL FOR DEBIT CARD ADVERTISEMENTS.
June 6, 2008... Rumors of Mr. Bill's demise at the hands of Mr. Hands and Sluggo are greatly exaggerated. More than 30 years after the clay figure first appeared on NBC-TV's Saturday Night Live, with his trademark yelp, "Oh, noooo," Mr. Bill will be starring...

CANADIAN FIRM TO SUPPLY MOBILE-BANKING SERVICES TO MONITISE.(Brief article)
June 6, 2008... Everlink Payment Service Inc., a Canadian provider of electronic transactions and payments services, today announced an agreement with Monitise Americas LLC to distribute a mobile-banking suite of services to financial institutions in Canada,...

NCR RAISES $54,000 TO HELP CHINA'S EARTHQUAKE VICTIMS.
June 6, 2008... NCR Corp. has raised $53,800 to help earthquake victims in China, Lorraine Russell, an NCR spokesperson, tells ATM&Debit News, a CardLine sister publication. NCR employees in China raised $23,800, and company employees in Japan raised another...

BRIEFS.
June 6, 2008... U.S. Bank announced Monday it is issuing Visa Inc. payWave contactless debit cards to its customers in California, Colorado, Missouri and Utah....Microsoft Corp. has signed an agreement to use Symmetric Systems LLC's VitalPay product for...

AMEX CHARGE-OFFS RISE BUT REMAIN LOW AMONG ISSUERS, CEO SAYS.
June 6, 2008... American Express Co. has held charge-off rates relatively low compared with other issuers by using credit-risk modeling, offering on-time payment incentives to cardholders and maintaining a roster of customers with prime and above-prime credit...

LAW NIXES EXISTING SUITS OVER CARD EXPIRATION DATES ON RECEIPTS.
June 6, 2008... President Bush yesterday signed into law a bill prohibiting class-action lawsuits against merchants that once put payment card expiration dates on customer receipts. The U.S. House and Senate approved the legislation last month (CardLine, 5/9...

MICHIGAN PAYING BENEFITS BY DIRECT DEPOSIT OR ON DEBIT CARDS.
June 6, 2008... Michigan's Unemployment Insurance Agency on Monday began offering unemployed workers direct deposit and debit card electronic-payment options for receiving unemployment benefits. Michigan previously offered only check payments for unemployment...

VISA ADDS PIN-BASED TRANSACTIONS TO ITS FRAUD-RECOVERY SERVICE.
June 6, 2008... Visa Inc. announced late last month that it will include its PIN-based Plus ATM and Interlink debit purchases in its Account Data Compromise Recovery Service, which historically has applied only to signature transactions. Visa will add the...

ISO INTERCHANGE TRAINING NOT A ONE-TIME EVENT, EXPERTS SAY.(Brief article)
June 6, 2008... Teaching merchant-level sales agents about interchange takes a continuous process, not a one-shot event, experts say. "There is no fast or easy way to learn or teach interchange," Tyler Hurley, senior sales executive for Group ISO, an Irvine,...

STARBUCKS PREPAID GIFT CARD USERS GET FREE WIRELESS 'NET ACCESS.
June 6, 2008... Starbucks Coffee Co. yesterday began offering free wireless Internet access in its stores to customers who load at least $5 onto a Starbucks prepaid gift card and register it on the Starbucks Web site, Alisa Martinez, a company spokesperson,...

MASTERCARD BANKS ON WOMEN AND YOUNG IN EMERGING MARKETS.
June 6, 2008... MasterCard Worldwide is banking heavily on growth in emerging markets in Asia and Latin America to achieve average annual net-income growth of 20% to 30%, Walt M. Macnee, MasterCard president, global markets, told analysts during a conference...

BRIEFS.
June 6, 2008... L.L. Bean informed customers via its Web site that it is discontinuing its co-branded Visa card with Bank of America Corp.... Comstar Interactive, a wireless-payment technology company, says it is adopting its Charge Anywhere product name as...

COMPUTER BREACH PROMPTS BANK TO REISSUE ITS DEBIT CARDS.
June 6, 2008... 1st Source Bank is reissuing cards to all of its debit cardholders following a computer breach that occurred at the South Bend, Ind.-based institution May 12. Hackers accessed 1st Source's computer and compromised some cardholders' debit card...

MORE MERCHANTS SWITCHING ACQUIRERS.(Brief article)
June 6, 2008... Since 2006, the percentage of merchants switching acquirers has surged, especially among mid-size retailers, according to a report from First Annapolis Consulting, a payments consultancy based in Linthicum, Md. Historically, smaller merchants...

BANKRUPTCY FILINGS DIPPED IN MAY, BUT Q1 FILINGS ROSE 27%.
June 6, 2008... U.S. consumer bankruptcy filings jumped 30.9% in May from the same month last year, the American Bankruptcy Institute reports today. Using data from the National Bankruptcy Research Center, the institute says the 91,214 consumer filings in May...

CHECKFREEPAY DOUBLES ITS OVERNIGHT BILL-PAYMENT OPTIONS.
June 6, 2008... CheckFreePay, a division of Fiserv Inc., announced this week that consumers can pay more than 300 bills using its next-day service, double what it previously offered. CheckFreePay enables consumers to pay utility, mobile-phone, insurance,...

FED OFFICIAL WARNS OF DETERIORATING LOAN QUALITY.(Brief article)
June 6, 2008... Over the coming months, banking institutions will continue to face deteriorating loan quality, Federal Reserve Vice Chairman Donald L. Kohn warned the Senate Committee on Banking, Housing and Urban Affairs today during a talk on the condition...

CANADA NEXT LOGICAL STEP FOR MONITISE AMERICAS, CEO SAYS.
June 6, 2008... The launch of mobile-banking services and payments in Canada was the next logical step for Monitise Americas LLC, according to CEO Lisa Stanton. "The credit-union market is very engaged in consideration of mobile banking here in the States, so...

BRIEFS.
June 6, 2008... Democratic Illinois Senator Dick Durban today introduced legislation to allow large and small businesses to negotiate directly with credit card companies to reduce the interchange fees that are charged on every credit card transaction....

VISA EXECUTIVE BLASTS SENATE'S INTERCHANGE-REGULATION BILL...
June 13, 2008... The National Retail Federation threw its support behind companion legislation introduced yesterday in the U.S. Senate by Sen. Richard Durbin, D-Ill., to regulate interchange rates, while an executive on Visa Inc.'s management team tells...

...AND ABA WARNS AGAINST GOVERNMENT INVOLVEMENT IN INTERCHANGE.(American Bankers Association)(Brief article)
June 13, 2008... The American Bankers Association said today it "strongly opposes" the bill Sen. Richard Durbin, D-Ill., introduced yesterday to regulate interchange rates. "Just like the bill introduced in the House in March, this legislation inappropriately...

DEBIT CARD PURCHASES STILL INCREASING, STUDY FINDS.
June 13, 2008... Debit card use at the point of sale continues to grow, with cardholders who use both PINs and signatures completing more total debit transactions than those who use one method or the other, according to a First Data Corp. study released...

NAUTILUS HYOSUNG WINS CONTRACT TO SUPPLY ATMS TO CITIBANK.
June 13, 2008... Nautilus Hyosung America Inc., a company primarily known for making ATMs sold by independent sales organizations, has signed a breakthrough agreement to manufacture ATMs for Citibank, owner of one of the largest bank-owned ATM networks,...

ETELCHARGE.COM ANNOUNCES PLANS TO EXPAND ITS DIGITAL GIFT CARD OFFERINGS.
June 13, 2008... Etelcharge.com, a Web site that enables consumers to buy gift cards by billing them to their home phones, announced yesterday it is in negotiations with gift card providers to increase its offerings. Rob Howe, Etelcharge.com chairman and CEO,...

HOME DEPOT SAYS MORE CARDHOLDERS PAYING LATE, DEFAULTING.
June 13, 2008... Home Depot Inc. reports credit scores are weakening among holders of its private-label credit card and, not surprisingly, customers more often are paying late and defaulting. While the portfolio's average FICO score-the credit score developed...

MOBILE PHONES TO BECOME REVENUE CHANNEL FOR RETAILERS, SURVEY DATA SUGGEST.
June 13, 2008... Mobile phones are joining brick-and-mortar stores, Web sites and catalogs as an important retail channel and represent a new revenue opportunity for retailers, according to a report from San Jose-based Cisco Systems Inc. The Cisco Internet...

BRIEFS.
June 13, 2008... Storis Management Systems, a provider of operations products and services to retailers, says it is using Payment Processing Inc.'s payment processing middleware, PPI PayMover....Principle Payment Solutions, an independent sales organization,...

NACHA MAY COMBINE THREE CHECK-CONVERSION CODES INTO ONE.
June 13, 2008... A work group of NACHA is discussing the possibility of merging into one rule set the three ways merchants convert paper checks consumers hand to cashiers or send through the mail into electronic ACH transactions. NACHA is the organization that...

REACHING THE UNDERBANKED REQUIRES MARKET KNOWLEDGE.(Survey)
June 13, 2008... Companies that want to reach the underbanked market should understand the different market segments, Michael Hermann, research director of the Center for Financial Services Innovation, told an audience yesterday at the third annual Underbanked...

WAL-MART PREPAID CARD SALES REACH 1 MILLION; RETAILER TO OFFER BILL-PAY SERVICES.
June 13, 2008... Wal-Mart Stores Inc. has sold 1 million prepaid Visa cards since it launched the program nearly a year ago, and cardholders have loaded more than $1 billion on those cards, Jane Thompson, president of Wal-Mart Financial Services, told attendees...

FED: CONSUMERS CUT BACK ON CARD SPENDING IN APRIL.
June 13, 2008... Consumer credit outstanding during April rose at a seasonally adjusted annual rate of 4.25%, but Americans cut back on their borrowing with revolving credit, primarily credit cards, which increased only 0.4% during April compared with 7.4%...

BOFA RAISING ATM SURCHARGE IN CHICAGO.
June 13, 2008... Bank of America Corp. is raising its ATM surcharge in the Chicago market to $3 from $2 per transaction, bringing the city's surcharge to the same rate the bank charges nationally, according to a BofA spokesperson. The fee increase will go into...

FAIR ISAAC ADDS TOOL TO FIGHT INTERNAL FRAUD.
June 13, 2008... Fair Isaac Corp. today announced a strategic partnership with Memento Inc. to provide financial services institutions and credit unions with new tools to fight internal fraud. According to Concord, Mass.-based Memento, most serious fraud...

DYNAMIC CARD SOLUTIONS OFFERS VALIDATION TOOL.(Brief article)
June 13, 2008... Dynamic Card Solutions, which developed the CardWizard technology that enables banks to instantly issue unembossed credit and debit cards at branches, today announced it is offering Collis B.V.'s EMV Personalization Validation Tool to its...

BRIEFS.
June 13, 2008... Online footwear retailer ShoeMall has begun offering Bill Me Later as a payment option on its Web site....Fifth Third Bank Processing Solutions, a transaction processor owned by Fifth Third Bancorp, says Visa Inc. has given it an award for its...

FEDS SEEK $200+ MILLION IN ACTIONS AGAINST SUBPRIME CARD ISSUERS.
June 13, 2008... CompuCredit Corp., an Atlanta-based credit card company, and two banks with which it has third-party card program arrangements, today are the subject of charges and a lawsuit filed, respectively, by the Federal Deposit Insurance Corporation and...

DISCOVER WANTS $6 BILLION IN DAMAGES FROM MASTERCARD AND VISA.
June 13, 2008... Discover Financial Services is seeking $6 billion in damages in its antitrust lawsuit against Visa Inc. and MasterCard Worldwide, according to documents unsealed yesterday in U.S. District Court for the Southern District of New York. Discover...

ISO FACES CLAIMS OF $2.5 MILLION FOR SENDING UNSOLICITED FAXES.
June 13, 2008... Business Payment Systems LLC, a New York-based independent sales organization, faces paying $2.5 million to settle claims over alleged unsolicited faxes the company sent to plaintiffs in a class-action lawsuit, according to a settlement claims...

DIEBOLD TO CASH CHECKS AT ATMS WITH VALID SYSTEMS SOFTWARE.
June 13, 2008... Consumers will be able to cash checks at Diebold Inc. ATMs that use Valid Systems' check-cashing software, the two companies announced Monday at SourceMedia's third annual Underbanked Financial Services Forum in Miami. Diebold plans to offer...

14,000 SIGN UP TO RECEIVE FEDERAL BENEFITS ON PREPAID DEBIT CARDS.
June 13, 2008... Fourteen thousand federal-benefits recipients have chosen to receive their funds electronically in prepaid debit card accounts instead of by check since the U.S. Department of the Treasury's Financial Management Service began promoting the...

EPA RENEWS SMARTPAY TRAVEL AND FLEET CONTRACT WITH CHASE.
June 13, 2008... The U.S. Environmental Protection Agency has renewed its contract with JPMorgan Chase & Co. to provide its travel and fleet charge card services, the bank announced today. The contract is part of the General Service Administration's SmartPay2...

324 MILLION PREPAID CARDS IN LATIN AMERICA BY 2015, VENDOR SAYS.
June 13, 2008... Latin American consumers will hold more than 324 million general-purpose prepaid cards by 2015, says NovoPayment Inc., a provider of prepaid cards to the region. The company released the results of its study at SourceMedia's third annual...

BRIEFS.
June 13, 2008... Springbok Services Inc. has signed an agreement with Visa Inc. to offer Visa-branded prepaid card programs....Payments processor First Data Corp. has appointed Phil Wall executive vice president and chief financial officer....Hypercom Corp....

MORE THAN 1 MILLION CONSUMERS USE BOFA MOBILE BANKING.
June 13, 2008... Bank of America Corp. announced today that more than 1 million customers are using the bank's mobile-banking service. "They are definitely a leader in the space," says Gwenn Bezard, senior analyst for the Aite Group, a Boston-based consultancy....

OBAMA TOUTS CREDIT CARD REFORM ON CAMPAIGN TRAIL.
June 13, 2008... Credit card reform is emerging as a key issue on the campaign trail for presumptive Democratic presidential nominee Sen. Barack Obama, D-Ill., who is touting industry reform at public appearances this week. Kicking off his general campaign in...

CITIBANK PREPARING TO REPLACE MOST OF ITS HOMEGROWN ATMS.
June 13, 2008... Citibank, which operates the nation's eighth-largest bank-owned ATM network, will replace 61% of its 3,300 machines over the next year, Robert Julavits, a Citibank spokesperson, tells ATM&Debit News, a CardLine sister publication. Citi is...

PHONE SCAMMERS PICK THE WRONG POTENTIAL VICTIM.(Brief article)
June 13, 2008... A phone call to the wrong individual may have helped put the kabosh on a credit card scam in Wisconsin. A Wisconsin Bankers Association employee received a phone call two weeks ago from someone promising to lower his credit card rate to 6.99%...

37 MILLION UNBANKED WOULD QUALIFY FOR PRIME CREDIT SCORES.
June 13, 2008... Thirty-seven million consumers have no credit scores but would fall into the prime credit category if credit agencies assessed the individuals' loan risk, Mark Greene, CEO of Fair Isaac Corp., said yesterday at SourceMedia's third annual...

TEACH WORKERS TO USE COMMERCIAL CARDS PROPERLY, VISA ADVISES.
June 13, 2008... Employee training and automated processes ranked high on a list of best practices for commercial cards that Visa Inc. released today. "Leading companies not only provide commercial card training to their employees but also require cardholders...

TSYS SIGNS PROCESSING DEAL WITH MEXICAN CARD COMPANY.
June 13, 2008... Total System Services Inc., known as TSYS, Wednesday expanded its presence in the Mexican card market by signing a multiyear payments-processing agreement with Globalcard S.A. Financial. Terms of the deal were not disclosed. Globalcard issues...

BRIEFS.(QC Financial)(Prepaid Resources)(Connections)(Brief article)
June 13, 2008... NetSpend Corp. will develop a prepaid debit card for QC Financial under an agreement announced Monday....Prepaid Resources has formed an advisory council called Connections to support prepaid card managers.... TNB Card Services has named Frank...

MERCHANT ACQUIRERS OPPOSE IRS PROPOSAL TO COLLECT RECEIPTS.
June 13, 2008... Merchant acquirers and small-business advocates told lawmakers today that an Internal Revenue Service proposal that would require acquiring banks to report credit card receipts paid to merchants would have devastating effects on their...

CONTINENTAL AND CHASE EXTEND CO-BRAND DEAL THROUGH 2016.
June 13, 2008... Continental Airlines will receive a $413 million initial payment from an updated co-brand credit card deal with Chase Bank USA, the airline disclosed today in a filing with the U.S. Securities and Exchange Commission. Continental's agreement...

DEBT ANXIETY LEADS TO POORER HEALTH, AP/AOL POLL FINDS.
June 13, 2008... Americans' adverse financial health has a significant negative impact on their physical health, the results of a recent survey suggest. Seventy percent of the respondents to the Associated Press-AOL Health Poll, whose results were released...

ALTERNATIVE PAYMENTS HURT CREDIT CARDS MORE THAN DEBIT CARDS.
June 13, 2008... Alternative payment methods are more likely to displace credit card transactions than debit card volume, according to Aric Morrison, author of a Packaged Facts report on alternative payment systems and owner of New York-based Cogitamus...

MORE THAN 90% OF NAUTILUS HYOSUNG ATM BUYERS ORDER ONLINE.
June 13, 2008... More than 90% of Nautilus Hyosung America Inc.'s customers buy ATMs through a Web-ordering system, Chan Park, company president and CEO, told CardLine sister publication ATM&Debit News at the company's second annual Users' Conference in...

WELLS FARGO ADDS TWO COMMERCIAL MOBILE-BANKING FUNCTIONS.
June 13, 2008... Wells Fargo & Co. earlier this week added two functions to its browser-based commercial mobile-banking service. The service, CEO Mobile, now features wire-transfer services and image positive pay, which enables users to view check images. The...

RAPIDADVANCE BUYS MERCHANT CASH-ADVANCE COMPANY IN UK.(Merchant Cash Express Ltd.)(Brief article)
June 13, 2008... RapidAdvance LLC, a Bethesda, Md.-based merchant cash-advance company, has acquired Merchant Cash Express Ltd. The United Kingdom-based cash-advance company will operate as a subsidiary of RapidAdvance, according to the companies, which did not...

BRIEFS.
June 13, 2008... NetSpend Corp. announced Tuesday it has promoted James DeVoglaer to senior vice president of information technology, Paige Ellis to vice president of human resources, Lisa Henken to vice president of partner services, Andrew Byala to software...

WITH NEW ASSOCIATION, CANADIAN ACQUIRERS ESTABLISH A VOICE.(Brief article)
June 20, 2008... Acquirers and independent sales organizations in Canada have found a voice in the newly formed Canadian Acquirers Association. The group, meeting in Toronto Thursday for the first time, hopes to represent the industry in Canada, provide...

3 BIG DRUGSTORE CHAINS SUE AMEX OVER CONTRACT RESTRICTIONS.
June 20, 2008... CVS Caremark Corp., Rite Aid Corp. and Walgreen Co. this week filed a lawsuit against American Express Co. in U.S. District Court for the Eastern District of New York. The suit alleges that the contracts AmEx requires merchants to sign to...

CAP ONE EXEC LINKS UNEMPLOYMENT WITH CARD DELINQUENCIES.
June 20, 2008... Capital One Financial Corp.'s chief financial officer links delinquencies in the bank's credit card portfolio to the cardholders' job situations. Gary L. Perlin, CFO and executive vice president, told investors at the Keefe, Bruyette & Woods...

MOODY'S REPORTS WEAKEST CARD-DEBT PERFORMANCE SINCE 2005.
June 20, 2008... The latest Moody's Investors Services report on the performance of credit card debt provides a roundup of gloomy spring news. In April, card-loan performance deteriorated in four of the five categories Moody's Credit Card Indices track. The...