Monday , January 22, 2018

Jim Daly

Jim Daly joined Digital Transactions in 2006 after covering payments and merchant acquiring at Thomson Media’s Credit Card Management, Credit Card News, and CardLine publications. Before that, he was a reporter and editor at the daily Leader-Telegram in Eau Claire, Wis.

Wide-Ranging Hacker Indictment Casts New Light on Some Notorious Breaches

A federal indictment announced on Thursday against four Russians and a Ukrainian man casts new light on some of the biggest breaches of payment card data in recent years. The defendants, affiliated with notorious computer hacker Albert Gonzalez, who is serving a 20-year prison sentence but named as one of …

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Interlink Starts Growing Again And Visa Prospers Despite Legal And Regulatory Uncertainties

Visa Inc.’s Interlink PIN-debit network is recovering after a devastating year following implementation in April 2012 of the transaction-routing requirements in the Dodd-Frank Act’s Durbin Amendment. Visa reported Wednesday that Interlink transaction volume rose 25% in its third quarter of fiscal 2013 ended June 30, a sharp turnaround from the …

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Tribunal Rejects Canadian Merchants’ Pleas To Loosen Network Card-Acceptance Rules

Visa Inc., MasterCard Inc., and their Canadian credit card issuers dodged a legal bullet Tuesday when Canada’s Competition Tribunal refused to quash network rules designed to protect cards from being undercut by merchants seeking lower-cost payment forms. Instead, the tribunal suggested that changing the law was the way for merchants …

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Allpoint Eyes More Surcharge-Free ATM Volume Through a New Pact with Discover

Discover Financial Services has been in the spotlight over the past year because of its high-profile effort with PayPal Inc. to bring the online-payments leader’s service to millions of physical merchants. But that’s just one iron Riverwoods, Ill.-based Discover has in the fire. On Monday, the Allpoint surcharge-free ATM network …

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ISOs Watch Their Backs As Regulators Step Up Scrutiny of the Payments Industry

A growing feeling among independent sales organizations about more eyes looking over their shoulders came through Thursday at the annual conference of the MidWest Acquirers Association, a regional trade group. Jitters over the Federal Trade Commission’s lawsuits against ISOs that processed for allegedly fraudulent telemarketers to increasing worries about data …

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New Retirement Funding Plan Latest Effort by Loss-Racked First Data To Control Costs

In an effort to free up cash to rebuild its struggling business, payment processor First Data Corp. will stop funding its 24,000 employees’ retirement plans with cash and instead provide stock grants to all employees. New First Data chief executive Frank Bisignano announced the change Monday in a memo to …

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Court’s Critique Sparks NetSpend To Mull New Offers As Alternatives to TSYS Bid

Prepaid card program manager NetSpend Holdings Inc. on Wednesday said it will postpone until June 18 the shareholder meeting it planned for Friday to approve its $1.4 billion sale to processor Total System Services Inc. (TSYS). The delay is an attempt in the wake of two shareholder lawsuits to create …

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TSYS Plans To Go Big-Time in Prepaid With Its $1.4 Billion NetSpend Acquisition

No stranger to prepaid cards, payment card processor Total System Services Inc. (TSYS) will become a major force in the prepaid niche with its planned cash acquisition of program manager NetSpend Holdings Inc. that values NetSpend at $1.4 billion. The deal the two companies announced late Tuesday would pay NetSpend …

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With FSV Under Its Wing, U.S. Bank Poised To Become a Full-Service Prepaid Card Provider

Already a major player in the prepaid card industry, U.S. Bancorp on Tuesday announced plans to bolster that part of its payment card business by acquiring FSV Payment Services, a Jacksonville, Fla.-based prepaid card program manager and processor. Minneapolis-based U.S. Bank issues prepaid cards for more than 4 million account …

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Eye on Prepaid: NetSpend Nets 7-Eleven for Distribution; Green Dot Buys a Processor

Prepaid card program manager NetSpend Holdings Inc. beefed up its retail distribution channels through a new agreement announced on Wednesday with leading convenience-store chain 7-Eleven Inc. The news came just a day after NetSpend rival Green Dot Corp. revealed that it bought assets from eCommLink Inc. that will advance its …

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