Wednesday , June 26, 2019

Credit Cards

Interchange Second Only to Energy Costs on Grocers’ Worry List

With credit and debit cards accounting for nearly 46% of supermarket payments, card-acceptance fees now rank No. 2 behind energy costs among the top concerns of grocery-store executives, the Food Marketing Institute reports in its latest financial review of the grocery industry's financial health. In its 2005-2006 Annual Financial Review …

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Comdata’s New Chief Looks to Acquisitions To Spur Growth

Fresh on the heels of a payment-processing initiative and a new branding campaign, the new chief executive of prepaid and fleet card specialist Comdata Corp.'s parent company told investors on Thursday that Comdata is in the acquisitions market. “The Comdata business is posting strong results driven by a proven, effective …

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FDC Spiffs up Merchant Service, Deploys 11,000 FD-100 Terminals

First Data Corp. chairman and chief executive Henry C. “Ric” Duques on Tuesday painted a rosy picture of the downsized card processor during his first earnings conference call since the recent spin-off of First Data's largest division, remittance kingpin Western Union Co. Greenwood Village, Colo.-based First Data posted net income …

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First Data Hopes New Box Will Help It Plug Into Smaller Merchants

Beyond a recent press release, First Data Corp. hasn't made a huge public splash about its new payment terminal, the FD-100. Yet the terminal is not just a box that processes payment card transactions. It's an element of First Data's multipronged strategy to get more business from small and mid-sized …

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TSYS Battered But Not Broken, Top Execs Say, Citing New Business

Top executives of card processor Total System Services Inc. (TSYS) on Wednesday portrayed a company that may be a bit bruised but is heading for better times. Columbus, Ga.-based TSYS even upped its 2006 profit projections and says earnings next year won't decline as much as previously forecast. TSYS late …

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Market Forces, Including Interchange Cases, Spur Visa to Plan for IPO

Facing many of the same pressures that led its rival MasterCard Inc. to go public earlier this year, Visa announced on Wednesday it plans to scuttle the membership-association structure that has characterized it throughout its 36-year history in favor of a sweeping reorganization that will lead to ownership by the …

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E-Retailers’ Appetite for Payments Hikes PayPal, Checkout Acceptance

It's not yet four months old, but already Google Inc.'s Checkout Internet payment service is making an impact, with 7% of online retailers surveyed in recent weeks by CyberSource Corp. having adopted it. That compares with 35% for PayPal, 24% for e-checks and other automated clearing house debits, and 16% …

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Ex-Global Payments Exec Cohen Seeks New Growth Channels at Moneris

The new president of Moneris Solutions Inc., the U.S. arm of Canada's leading merchant-acquiring operation, says he will diversify the company's distribution channels and at the same time seek profitable niches in a highly competitive industry. Buffalo Grove, Ill.-based Moneris currently derives most of its U.S. transactions from merchants booked …

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New Super Switch Lets Visa Handle Transaction Growth, Diversity

Visa USA, which on Wednesday announced it has completed a massive, five-year project to overhaul its authorization platform, says the new system will allow the network to handle expected jumps in both the volume and diversity of electronic transactions. The overhaul, which its chief architect, John Partridge, calls “the single …

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