Friday , January 19, 2018

Competitive Strategies

A Providian-Barclays Deal Could Fuel Transaction Innovation

The news that Barclays PLC is talking to Providian Financial Corp. about buying the San Francisco-based credit card issuer has some observers speculating that the merger could accelerate the development of new electronic transaction products both in the U.S. and in Europe, where Barclays is a major card issuer with …

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First Data Says Western Union Inquiry Won’t Impact Concord Deal

First Data Corp. says it does not expect an investigation by the U.S. Department of Justice of its money-transfer business to have an effect on the completion of its acquisition of Concord EFS Inc. The Denver-based processor said earlier this week it expects to close the merger with Concord Feb. …

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AmEx Says It Can Maintain Merchant Fees As It Signs More Banks

In the wake of its groundbreaking announcement last week that it had signed up MBNA Corp. as the first U.S. bank issuer on its network, American Express Co. yesterday said the MBNA deal is non-exclusive and that it is actively pursuing such arrangements with “plans to form additional partnerships” in …

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First Data Says It Will Fight Hard for Concord Debit Business

First Data Corp. officals vowed today they expect to fight hard to add to the debit business of Concord EFS Inc., the debit processor First Data is buying for $6.9 billion. In a meeting with securities analysts to present 2003 full-year and fourth-quarter results, First Data chairman and chief executive …

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Wells Mortgage Unit Makes Fast Progress on Electronic Payments

In a sign of how fast an organization can convert paper transactions to electronic, the National Automated Clearing House Association announced today that the home-mortgage unit of Wells Fargo & Co. will process 88% of its payments electronically in the first quarter, up from 36% only a year ago and …

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A New ETA Program Reaches out to Merchant-Level Salespeople

The Electronic Transactions Association announced today new initiatives intended to appeal to individual merchant-level sales agents. Traditionally a trade organization for larger ISOs and acquirers, the Washington, D.C.-based ETA says it will give merchant-level salespeople access to ETA products, services, and conferences at reduced rates. While association membership is open …

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MBNA-AmEx Deal Helps Them More Than It Hurts the Bank Networks

The card-issuing alliance American Express Co. and MBNA Corp. announced yesterday will benefit the two financial-services companies more than it will hurt Visa and MasterCard, some observers note. Although MBNA, second only to Citigroup Inc. as a credit card issuer, has already said it will seek to convert current cardholders …

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A Visa Member Letter Touches off A Debit Card Debate

A brief reference to a rival debit card network in a recent document sent from Visa USA Inc. to its members has raised the hackles of the co-founder of that network and embroiled him in a debate with Visa USA chief executive Carl Pascarella over the risk associated with debit …

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Continental Aims at a 20% Expansion of Its Kiosk Network

Already the second-largest deployer of electronic ticketing machines at airports, Continental Airlines Inc. plans to add another 150 units this year, including some at international destinations. The first airline to deploy self-service ticketing kiosks nine years ago, Continental now has 779 online at 130 domestic airports, trailing only Delta Air …

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Yankee Group Charts the Rise of Outsourced Network Security

As network security managers scramble today to combat the so-called MyDoom virus, one of the most malicious network attacks security experts have seen yet, the Boston-based consulting firm Yankee Group has released a report predicting that the frequency and virulence of such incidents will create a flourishing new market in …

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