Cardline articles from September 2006

Cardline archives from September 2006

FED ISSUES "COMPROMISE" RULE ON PAYROLL CARDS.(Network Branded Prepaid Card Association)(Brief article)
September 1, 2006... The Federal Reserve yesterday finalized a rule that grants workers paid with payroll cards the protections of Reg E while allowing alternatives to sending monthly paper statements to all cardholders. "It was a very good compromise," Terry...

DIEBOLD COULD FACE LENGTHY SEC INQUIRY.(Securities and Exchange Commission)(Brief article)
September 1, 2006... The U.S. Securities and Exchange Commission's formal inquiry into Diebold Inc. suggests the firm faces a possibly lengthy, in-depth and companywide investigation, according to a report by CardLine sister publication ATM & Debit News. A formal...

GAS CARDS POPULAR BUT IN FEW WALLETS.(Gasoline rebate credit cards)(Brief article)
September 1, 2006... Gasoline rebate credit cards have grabbed consumers' attention although relatively few have such cards in their wallets, according to a new survey from CardRatings.com, a consumer-oriented Web site that rates card offers. Nearly 70% of...

VISA EXPANDING CARDS FOR RENT.(property-management market)(Brief article)
September 1, 2006... Visa USA appears to be gaining ground in opening real estate rentals to card payments, reporting recently it had seen 154% growth in sales volume for the segment for the year ending in June. Jim Eitler, vice president, merchant relations, says...

SECURITY DEMANDS MAY THIN ATM RANKS.(Automated teller machines)(Brief article)
September 1, 2006... Retailers and independent sales organizations that own ATMs are spending about $500 per machine for upgrade kits that ensure the device meets Triple Data Encryption Standard, or Triple DES, requirements. MasterCard Worldwide wants all the ATMs...

HOME DEPOT, CITI HAMMER OUT TWO CARDS.(Home Depot generated fiscal 2005 revenues)(Brief article)
September 1, 2006... Home Depot Inc. and Citigroup introduced today two cobranded credit cards carrying the MasterCard brand. One card is for the weekend warrior fix-up guy, while the second card is for construction business owners. Cardholders earn two points for...

BRIEFS.(named Erik Toivonen managing director of technology and marketing operations)(Brief article)
September 1, 2006... Barclays Bank Delaware named Erik Toivonen managing director of technology and marketing operations.... CPI Card Group is the initial card manufacturer for the contactless card program from Wells Fargo.... Radiant Systems Inc. point-of-sale...

PNC RETURNS TO CREDIT CARD ISSUING.(purchases and balance transfers for 12 months)(Brief article)
September 1, 2006... PNC Financial Services Group is launching its return to the credit card business with a 0% APR on purchases and balance transfers for 12 months, and a $50 credit with a first purchase. PNC intends to market the cards both to its current...

WESTERN UNION NAMES BOARD OF DIRECTORS.(five members to its board of directors )(Brief article)
September 1, 2006... Western Union Co., the money-transfer business, today named five members to its board of directors in anticipation of the company's spin-off from parent First Data Corp. Greenwood Village, Colo.-based First Data previously announced Jack M....

ARRESTS MADE IN CANADIAN CARD NUMBER THEFTS.(counterfeit cards)(Brief article)
September 1, 2006... Seven Sri Lankan residents of the Toronto area have been arrested for allegedly illegally capturing credit and debit card numbers and debit PINs using readers in a Mississauga mall restaurant. A Toronto police spokesperson tells CardLine he...

VISA'S ASIA REGION SEES 13% GROWTH:.(Visa Asia-Pacific)(financial report)(Brief article)
September 1, 2006... Visa Asia-Pacific announced Friday that international travelers to and within Asia spent US$6.8 billion on their Visa cards during the first quarter of this year, up 13% from the same period a year ago. The increase in spending stems from more...

KOTWAL NEW CHIEF OF EFUNDS INTERNATIONAL GROUP.
September 1, 2006... EFunds Corp. today named Shailesh Kotwal president of its international division, overseeing strategy, new products and growth. Kotwal most recently was with American Express Co. in New York as vice president and general manager of...

CHICAGO BEGINS SELF SERVICE FOR VITAL RECORDS.(Cook County of Illinois installs kiosks from MontegoNet )(Brief article)
September 1, 2006... The second-largest county in the country has installed a credit card-accepting kiosk to speed the sale of birth, marriage and death certificates. The treasurer of Cook Co. Ill., home to the city of Chicago and about 5.4 million citizens, is...

BRIEFS.(Dynamic Card Solutions)(Brief article)
September 1, 2006... DataCard Group and Dynamic Card Solutions have formed a joint marketing arrangement for instant card issuance, designating Dynamic's CardWizard technology as a DataCard preferred software system and DataCard as Dynamic's preferred provider of...

BANKRUPTCY RATE THROUGH JUNE LOWEST SINCE 2001.( according to court system records)(Brief article)
September 1, 2006... Bankruptcy filings fell 9.3% during the 12 months ended June 30, the Administrative Office of the U.S. Courts reported late Monday. Bankruptcy cases filed in federal courts during the June quarter totaled 1,484,570, down from 1,637,254 cases...

TNB BUYS CARD PORTFOLIOS.(purchased two credit union credit card portfolios)(Brief article)
September 1, 2006... Issuer TNB Card Services announced Monday that it has purchased two credit union credit card portfolios. The first seller was Sacramento, Calif.-based Vision One Credit Union with 2,072 members and assets of $29 million. Vision One offers...

DISCOVER LAUNCHES SMALL BUSINESS INDEX:.(soon-to-be launched Web site)(Brief article)
September 1, 2006... Card issuer Discover has launched Discover Small Business Watch, a monthly index that measures very small business owners' feelings about the economy. The index's results, which will posted on the soon-to-be launched Web site, is one of three...

AMERICAN EXPRESS AND VERSATILE SIGN AGREEMENT.(licensing agreement with payment card manufacturer)(Brief article)
September 1, 2006... American Express Co. today announced that it has signed a licensing agreement with payment card manufacturer Versatile Card Technology. The agreement covers patents for the production of clear cards. Since the late 1990s, AmEx has been...

WINCOR WINS BANK BRANCH DEAL.(signed a deal with Benchmark Technology Group)(Brief article)
September 1, 2006... ATM manufacturer Wincor Nixdorf reported it has provided all 170 of the ATMs of Susquehanna Bancshares, a Lititz, Pa.-based bank with 167 branches. Wincor Nixdorf is providing ATM hardware, software, maintenance service and management of the...

WITH MERGER NEARLY COMPLETE, GEMALTO EXEC READY TO ROLL.
September 1, 2006... The merger of the world's two largest smart card vendors, Gemplus International and Axalto, moved a step closer to completion last week, with most of the remaining shareholders of Gemplus agreeing to exchange their shares for an equivalent...

BRIEFS.(Bank of America Merchant Services)(vice president of professional services)(Brief article)
September 1, 2006... The 41st Parameter named Michael Yakel vice president of professional services and David Britton, vice president of product management.... Aaron Schneider was named vice president, sales, for Bank of America Merchant Services.... Bank of...

FIRST DATA NAMES STRUBBE PRESIDENT OF DEBIT SERVICES.(named Todd Strubbe president of First Data Debit Services)(Brief article)
September 1, 2006... First Data Corp. this morning named Todd Strubbe president of First Data Debit Services, replacing Debra Janssen, who left the company in June. Strubbe will oversee First Data's debit processing business, which includes the Star Network. He...

CU CARD PORTFOLIO SALES STEADY IN FIRST HALF.(Brookwood Capital)(card programs during the first half of the year)(financial report)(Financial report)(Brief article)
September 1, 2006... Thirty credit unions with credit card portfolios with receivables of at least $1 million sold their card programs during the first half of the year, reports Brookwood Capital. That is down from the 39 portfolios with a combined $255 million in...

GAS COSTS FUEL DEMAND FOR ECOUNT CARDS.(prepaid card marketing firm report)(Brief article)
September 1, 2006... High fuel prices have pushed demand for Ecount Inc.'s prepaid Fuel Cards up 500% over last year, according to the Conshohocken, Pa.-based prepaid card marketing firm. Ecount sells the reloadable cards to companies as fleet cards or rewards and...

COMMUNITY BANKS SEEK CHANGE TO ONLINE GAMING BILL.(Independent Community Bankers of America battle against a bill proposed by United States House of Representatives )(Brief article)
September 1, 2006... The Independent Community Bankers of America is battling against a bill recently passed by the U.S. House of Representatives that would require financial institutions to monitor and block Internet gambling transactions initiated by check or...

CREDIT BUREAUS MAKE HAY AT SUMMER'S END.(credit bureaus and risk managers. Shareholders of British company )(Brief article)
September 1, 2006... The week has been a busy one for the country's major credit bureaus and risk managers. Shareholders of British company GUS PLC on Tuesday approved the splitting of the company, effectively spinning off Experian into a separate company whose...

U.S. TROOPS USE EAGLECASH CARDS FOR $22 MILLION.(Brief article)
September 1, 2006... The U.S. Treasury Department says the U.S. Army has expanded the EagleCash stored value card program to 12 military bases in Iraq and Kuwait, and plans to issue EagleCash cards to soldiers in the U.S. before they deploy to those countries. The...

BRIEFS.(Processor United Bank Card)(Brief article)
September 1, 2006... Processor United Bank Card has certified the Hypercom Corp. Optimum T4100 payment terminal.... Lodi, Calif.-based Pacific Financial Solutions Inc. has installed more than 1,000 of its "cashless ATM" devices that allow consumers to use credit,...

CHASE TO BUY PIER 1'S PRIVATE-LABEL CARD PROGRAM.(customer-service support )(Brief article)
September 1, 2006... JPMorgan Chase & Co. announced yesterday plans to buy the private-label credit card operations of Pier 1 Imports Inc. for $155 million. The portfolio has nearly 1 million active accounts and outstandings of $140 million. As part of the deal...

PAYMENTECH PROMOTES PCI TO LEVEL 4 MERCHANTS.(Chase Paymentech launches new program and service)(Brief article)
September 1, 2006... Chase Paymentech announced today it has begun a program targeting small- and medium- size merchants to ensure compliance with the Payment Card Industry Data Security Standard (PCI). The merchants, categorized as Level 4, are those that process...

RETAILER PLANS TO BOOST NO-SIGNATURE LIMIT.(Meijer MasterCard)(Brief article)
September 1, 2006... Meijer, a Midwestern chain of supermarkets and gas stations, plans this fall to raise to $75 the amount a customer can buy with a Meijer MasterCard without signing a receipt, Michael Ross, director of marketing and customer financial services,...

MASTERCARD COSTARS IN FAMILY PIC.(MasterCard International Inc. sponsors ABC Family Worldwide Inc.'s television movie 'Relative Chaos')(Brief article)
September 1, 2006... MasterCard Worldwide is the exclusive presenting sponsor for Relative Chaos, a made-for-TV movie scheduled to premier Sept. 4 at 9:00 pm Eastern Time on the ABC Family channel. The movie features several product placements of MasterCard cards...

WEB CALCULATOR HELPS STUDENTS COMPARE REWARDS.(launch of www.CreditCardClients.com)(Brief article)
September 1, 2006... A new Web site aims to make comparing college student rewards credit cards easier. A calculator on the recently launched www.CreditCardClients.com lets users choose from among 14 student rewards cards offered by issuers such as Discover, U.S....

GEN Y PREFERS ATMS AND ONLINE BANKING; FUDDYDUDS VISIT BRANCHS.(echo boom generation's banking preference survey)(Brief article)
September 1, 2006... Younger consumers prefer banking online or through an ATM while older consumers prefer visiting at the local bank branch, according to a July survey from the American Bankers Association. When asked, "What banking method do you use most often?"...

HARTFORD TEACHERS GET $25,000 IN PREPAID CARDS.(Brief article)
September 1, 2006... Prepaid card issuer Evolution Benefits Inc. today gave 82 stored valued cards loaded with a total of $25,000 to Hartford, Conn., school teachers, principals and staff as part of a pilot program at two of the city's schools. Mark Twain...

BRIEFS.(Co-op Financial Services)(Terry Laudick)
September 1, 2006... Co-op Financial Services named to its board Terry Laudick, president and CEO of New Mexico Educators Federal Credit Union, and Wendell "Bucky" Sebastian, president and CEO of GTE Federal Credit Union in Florida.... Canadian retailer Hudson's...

VERIFONE REPORTS 10TH CONSECUTIVE QUARTER OF REVENUE GROWTH:.(Brief article)
September 8, 2006... VeriFone Holdings Inc. yesterday afternoon reported net income of $16.8 million for its fiscal third quarter ended July 31, up 158% from $6.5 million during the same period in fiscal 2005. Quarterly revenues year-to-year climbed 17%, to a...

VISA ALERT WARNS ON STORING MAG-STRIPE DATA.(Brief article)
September 8, 2006... Visa USA this week issued a Data Security Alert focusing on security vulnerabilities caused by the storage of magnetic stripe data. The alert emphasizes that it violates Visa rules for merchants to store certain cardholder information contained...

THE WAY WE WERE, BEFORE YOU STOLE MY CARD ...(Brief article)
September 8, 2006... Ticketmaster has invalidated more than 1,000 tickets to upcoming Barbra Streisand concerts because they were purchased using hundreds of stolen credit card numbers. A Ticketmaster spokesperson tells CardLine that the card thieves purchased all...

GROWTH OVER FOR ATMS IN THE U.S., MUCH OF EUROPE?(Brief article)
September 8, 2006... Both the United States and Western Europe seem to be nearing ATM saturation points with slow deployment growth in 2005, according to data from Retail Banking Research Ltd. and CardLine sister publication ATM&Debit News. Retail Banking says...

ANALYST PREDICTS GROWTH IN CONTACTLESS PAYMENTS.(Brief article)
September 8, 2006... In a report she calls "optimistic," analyst Ariana-Michele Moore of research firm Celent predicts by 2011 contactless payment cards and devices will account for 15% of sales in eight merchant segments where speed and convenience are key. Today,...

ZOPA PLANS U.S. LAUNCH.(Brief article)
September 8, 2006... Zopa, the United Kingdom-based person-to-person lending marketplace provider, plans to launch a U.S. version before the end of this year, Wade Lagrone, vice president of U.S. marketing, tells CardLine sister publication CardLine Europe. "We...

BRIEFS.
September 8, 2006... Acxiom Corp. expects a 6-cent to 7-cent per share reduction in its previously announced earnings for fiscal 2007.... Network provider New Edge Networks earned validation by Visa USA for complying with the Payment Card Industry security...

MASTERCARD PLANS INTERCHANGE OPENNESS AND A CAP ON GAS PURCHASES.
September 8, 2006... MasterCard Worldwide reported today it will announce by Nov. 1 interchange rates that will apply to all U.S. merchants, and that it plans to implement next year a cap on interchange fees on fuel purchases at gas stations. MasterCard has...

SURCHARGE RULE BENT AS VISA, MASTERCARD LOOK ON.(Brief article)
September 8, 2006... Puerto Rico is allowing gas station owners to apply a surcharge to certain credit card purchases in a 90-day test, despite a ban on surcharges by Visa USA and MasterCard Worldwide. However, it isn't clear if the surcharge ban applies to the...

RBS STOPS SENDING CARD CHECKS IN THE UK.(Royal Bank of Scotland)(Brief article)
September 8, 2006... The decision by the Royal Bank of Scotland to stop issuing credit card checks is drawing praise from a United Kingdom-based consumer advocacy group. "We think it's a great move; we think it's meaningful," Nick White, uSwitch Ltd.'s head of...

DIEBOLD MOVES WORLDWIDE LEADERS.(Diebold Inc.,Chen, James L.M.,Jr, Joao Abud)(Brief article)
September 8, 2006... Diebold Inc. reported today expanded management duties for James L.M. Chen and Joao Abud Jr., the retirement of Michael J. Hillock, and that Henrik Funch will leave the company at the end of the year. Hillock, president of international...

PATENT LAWSUIT SETTLED OVER CASINO CASH MACHINE.
September 8, 2006... Global Cash Access Inc., the Las Vegas-based casino ATM operator, reported last week the settlement of patent suits and countersuits with U.S. Bank and Fidelity National Information Services. The cases centered on software technology that...

NEW NACHA BUSINESS CHECK RULES BEGIN SOON.(National Automated Clearing House Association)(Brief article)
September 8, 2006... Beginning Sept. 15, new NACHA rules will allow merchants and other billers to convert most paper business checks for less than $25,000 into automated clearing house transactions. At least one payments executive expects a smooth transition....

WACHOVIA BLASE ABOUT BOFA CARDS.(Wachovia Corp,Bank of America Corp.)(Interview)(Brief article)
September 8, 2006... Wachovia Corp. has no regrets over selling its credit card portfolio in 2000, nor is it wringing its hands that rival Bank of America bought MBNA Corp., Ken Thompson, Wachovia chairman and CEO, told the bank's hometown newspaper recently. In an...

BRIEFS.(Brief article)
September 8, 2006... Independent sales organization Nxgen Payment Services named Bill Ryken vice president of business development.... Family-owned grocer Lowe's Pay and Save Inc. is using Pay by Touch's fingerprint-biometric check-cashing service in 78 stores in...

ATLANTA NFC TRIAL A WINNER, SAY CONTRIBUTORS.(Near Field Communication (NFC) technology,Atlanta Spirit)(Brief article)
September 8, 2006... The high-powered backers of a fledging technology that lets consumers use mobile phones for contactless payments and information downloads said today they were pleased with the results of an Atlanta trial of the technology. The participants...

NY GIANTS TO TRY FLICK OF THE WRIST PAYPASS PLAY ON SUNDAY.(New York Giants vs. Indianapolis Colts football game)(Brief article)
September 8, 2006... MasterCard Worldwide is going for a touchdown on Sunday, giving away an elastic wristband enabled with its PayPass contactless payment system and loaded with $25 to the first 5,000 fans at the New York Giants vs. Indianapolis Colts football...

'NEW' FIRST DATA SET TO EMERGE, SAYS DUQUES.(Duques, Ric,First Data Corp.)(Interview)(Brief article)
September 8, 2006... Once First Data Corp. completes its spin off of Western Union, a "new" First Data will emerge focused less on consumer markets and more on meeting the needs of merchants and merchant acquirers, Ric Duques, First Data chairman and CEO, tells...

OUTSIDE TAX COLLECTORS PLEDGE TO DO IT RIGHT FOR THE IRS.
September 8, 2006... The Internal Revenue Service's decision to outsource a small fraction of its overdue tax collections starting tomorrow stirred up a storm of controversy, but two of the three firms holding IRS contracts express confidence in their skills and in...

FIRST DATA LAUNCHES HEALTH CARE PAYMENTS WITH UMB, LIGHTHOUSE.(First Data Corp.,UMB Healthcare Services,Lighthouse 1)(Brief article)
September 8, 2006... First Data Corp.'s Healthcare Services unit will launch a health-benefits payment card program with Lighthouse 1, a Minneapolis-based provider of administration services and software for health savings accounts, flexible spending accounts and...

IOWA AG WARNS AGAINST TOO MANY CREDIT CARDS.(Iowa attorney general's office)(Brief article)
September 8, 2006... The Iowa attorney general's office is telling consumers to "use a minimum number of credit cards to lower the danger of unwittingly falling into expensive credit card debt." That statement comes in a consumer advisory the office issued in...

FIFTH THIRD GROWS FEDERATED DEAL, SIGNS TWO MORE CLIENTS.(Fifth Third Bancorp.,Federated Department Stores Inc)(Brief article)
September 8, 2006... Fifth Third Processing Solutions announced today two new clients and the expansion of a relationship with a third client. Fifth Third will provide credit and debit card processing for Federated Department Stores, having previously worked for...

Appointments of senior Executives at GE Money, Wachovia Bank, Asta Funding.(Edmundo Vallego, Jeff Chittenden, Rob Knight)
September 8, 2006... Wachovia Bank named Jeff Chittenden chief operating officer, credit card services.... GE Money named Edmundo Vallejo president and CEO of its Latin American operations.... The Michigan Credit Union League is marketing to its members the debit...

CHASE TOSSES TAPES WITH 2.6 MILLION CARD ACCOUNTS.(J.P. Morgan Chase and Co. (New York, New York))(Brief article)
September 8, 2006... JPMorgan Chase announced this morning that its Card Services division threw out computer tapes that held personal information on 2.6 million current and former Circuit City card account holders. Chase said it believes the tapes were "compacted,...

PCI COUNCIL LAUNCHED, BEST PRACTICES RELEASED.(Payment Card Industry)
September 8, 2006... Five major card networks announced today the much-anticipated founding of a formal council to oversee the Payment Card Industry Data Security Standard. The PCI Security Standards Council LLC will be made up of one representative each from...

CHASE SAYS HUMAN ERROR CAUSED CARD LOSS, INVESTIGATION CLOSED.(Brief article)
September 8, 2006... JPMorgan Chase discovered during a security audit in July it had lost a lock box containing tapes with information on 2.6 million current and former Circuit City card account holders, Paul Hartwick, senior vice president of business affairs,...

VERIFONE RARING TO GO WITH LIPMAN PURCHASE.(VeriFone Holdings Inc.)(Lipman Electronic Engineering Ltd.)(Brief article)
September 8, 2006... VeriFone Holdings Inc. has already integrated much of Lipman Electronic Engineering Ltd. into its own operations in preparation for the planned Nov. 1 close on its purchase of the Israel-based terminal maker, William Atkinson, VeriFone...

US BANK NAMES COLL CHIEF OF RETAIL PAYMENTS.(Patrick Coll,U.S. Bank N.A. (Minneapolis, Minnesota))(Brief article)
September 8, 2006... U.S. Bank yesterday named Patrick Coll executive vice president of retail payments, overseeing consumer credit, debit, stored value and prepaid cards. Coll will establish U.S. Bank's Payment Services group in Philadelphia where he was chairman...

MASTERCARD UNVEILS PLATFORM FOR THE ELITE ...(Brief article)
September 8, 2006... Hoping to compete with American Express Platinum, MasterCard Worldwide today announced the World Elite card platform designed to address the needs of the more than 11 million consumers with annual household incomes of $250,000 or more. Wendy...

... AND SAKS FIFTH AVENUE CLIMBS ABOARD.(Saks Fifth Avenue World Elite MasterCard)(Brief article)
September 8, 2006... Saks Fifth Avenue today announced the launch of the Saks Fifth Avenue World Elite MasterCard. The product, issued by HSBC, is Saks' first cobranded credit card. It also is the first product to take advantage of MasterCard's new World Elite...

DEM SENATORS CALL ON IRS TO HALT PRIVATE TAX-COLLECTION PLAN.
September 8, 2006... Three Democratic U.S. Senators recently sent letters to IRS Commissioner Mark Everson asking him to rethink the agency's plan to use private debt collectors to recover delinquent taxes. The three-Edward M. Kennedy of Massachusetts, Patty Murray...

CLARIFICATION.
September 8, 2006... Fifth Third Processing Solutions this week added card processing for the original May Department Stores to its existing processing contract with May's parent, Federated Department Stores. (c) 2006 CardLine and SourceMedia, Inc. All Rights...

BRIEFS.(Peppercoin Inc. employees)(Brief article)
September 8, 2006... Micropayments specialist Peppercoin Inc. named Mark Treco vice president, sales and market development.... Cubis Financial Ltd. says it has secured First Premier Bank of Sioux Falls, S.D., to issue its prepaid card products.... Jerry Welch...

WACHOVIA, GE MONEY TEAM ON COMMERCIAL CARDS:.(GE Money, Wachovia Corp.)(Brief article)
September 15, 2006... GE Money and Wachovia Corp. announced today they would partner on a commercial and purchasing card program for businesses. Wachovia will issue the cards and own the receivables while GE Money's Corporate Payment Service division will provide...

MAILINGS ROSE MODERATELY IN FIRST HALF:.(credit card issuers ratings)(Brief article)
September 15, 2006... Consumers received nearly 4.2 billion direct mail credit card acquisition letters from card issuers in the first half of the year, up 6% from the same period in 2005, according to Mintel Comperemedia. JPMorgan Chase easily topped the list of...

H&R BLOCK TO LAUNCH PREPAID CARD PROGRAM.(H and R Block Inc.)(Brief article)
September 15, 2006... Tax-preparation firm H&R Block Inc. yesterday announced plans to launch in January its own bank-account program, giving clients the ability to have their tax refunds and tax-refund anticipation loan funds deposited directly into a prepaid card...

ARIZONA CARDINALS' VENDORS WILL ACCEPT PAYPASS.(newly opened Cardinals Stadium )(Brief article)
September 15, 2006... The Arizona Cardinals are sure acceptance of PayPass by vendors at the team's new stadium will get fans back to their seats so fast they won't miss a crucial forward pass. The Cardinals play their home games in the newly opened Cardinals...

CHASE PLANS WIDER DISTRIBUTION OF CONTACTLESS CARD.(J.P. Morgan Chase and Co. (New York, New York))(Brief article)
September 15, 2006... Consumers nationwide may be seeing a "blink" in the mail as issuer JPMorgan Chase broadens distribution of the contactless credit card, a Chase spokesperson tells CardLine. Chase started issuing blink contactless cards last spring in Atlanta,...

WEAK NUMBERS FOR PROCESSORS IN AUGUST.(payment processors stocks )(Brief article)
September 15, 2006... August proved a listless month for payment processors as the mean return for 13 publicly traded stocks fell 1.05% compared to a gain of 2.07% for the Dow Jones Industrial Average and 2.68% for the S&P 500 Index, according to a monthly review by...

INVESTORS BACK CONTACTLESS VENDOR AND MOBILE PAYMENTS FIRM.(contactless credit and debit cards)(Brief article)
September 15, 2006... New payments technologies continue to garner funding from investors. Mobile payments provider Obopay reports it received $7 million in an investment round led by Qualcomm, a wireless technology firm. Other investors were Redpoint Ventures,...

BRIEFS.(LogicaCMG, Fiserv Inc.)(Brief article)
September 15, 2006... London-based LogicaCMG named Harry B. Blankenship as director of payments, compliance and risk in North America.... Fiserv Inc.'s Accel/Exchange Network Education Exchange awarded $50,000 in college grants to 34 high school students.... ATA...

DISCOVER SIGNS DEAL WITH GLOBAL PAYMENTS.(Discover Financial Services Inc., Global Payments Inc.)(Brief article)
September 15, 2006... Atlanta-based processor Global Payments Inc. will begin offering Discover card processing to merchants as an integrated offering with its Visa and MasterCard Worldwide acceptance, Global and Discover Financial Service LLC of Riverwoods, Ill.,...

LITTLE RISE IN REVOLVING CREDIT OR APRS.(Federal Reserve Board reports)(Brief article)
September 15, 2006... The Federal Reserve reported Friday revolving consumer credit rose slightly in July to $840.8 billion in July, from a revised $838.4 billion in June. The July figures represent a 3.4% annual growth rate, the Fed reported. Revolving consumer...

CONSUMERS WANT ZERO LIABILITY FOR LOSSES DUE TO FRAUD.
September 15, 2006... Fifty percent of consumers in a Javelin Strategy & Research study want their financial institutions to provide a guarantee of reimbursement of any losses due to fraud. That was the top answer for consumers when asked what security services...

MORGAN BEAUMONT CHANGES LEADERS AS STOCK SINKS.(Jensen resigned from the board of directors)(Raymond Springer was named executive vice president )
September 15, 2006... The stored value firm Morgan Beaumont last week replaced its CEO and acknowledged in a regulatory filing it could run out of money within a year, although an executive tells CardLine that the company expects to make up the cash shortfall with...

VISA PLANS MORE NFC TRIALS IN U.S.(credit card holders use mobile phones for payments and information downloads )(Brief article)
September 15, 2006... Bigger U.S. trials of a technology that lets credit card holders use mobile phones for payments and information downloads are all but certain to take place within the next 18 months, a Visa USA official tells CardLine. Visa--along with JPMorgan...

WESTERN UNION SPIN-OFF SET FOR SEPT. 22.(First Data Corp.)(Brief article)
September 15, 2006... First Data Corp. reported Friday it has set a record date of Sept. 22 for the tax-free spin-off of its Western Union division. Western Union will begin trading under the symbol WU on the New York Stock Exchange on Sept. 20. First Data...

NEW PREPAID CARD OFFERS IMMEDIATE ACCESS TO FUNDS.(Visa-branded stored value card)(Brief article)
September 15, 2006... Houston-based PreCash today announced a new Visa-branded stored value card that consumers can buy at retail locations and use immediately after it is activated, instead of waiting for the issuer to send a card through the mail. "This card is...