Monday , January 22, 2018

Debit Cards

With MasterCard Send, MasterCard Promises P2P Payments ‘Within Seconds’

MasterCard Inc. on Tuesday launched a person-to-person payment service in the United States that will allow debit card holders to send money to any other individual with a debit card account, regardless of the card brand and with the money arriving nearly instantaneously. The new service, dubbed MasterCard Send, also …

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Chase Begins Issuing EMV Debit Cards, Expects To Reach 70% of Cardholders by Year’s End

  Banking giant JP Morgan Chase & Co. has begun issuing EMV debit cards, with plans to convert its entire debit card portfolio of 34 million cards to chip by the end of 2016, Chase announced Tuesday. Chase began testing chip-enabled debit card issuance in Arizona and Illinois two months …

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Dining, Travel and Household Needs Fueling Retail Sales Growth: Visa

  Consumers continued to make retailer tills ring in the first quarter, increasing sales, minus automobiles and fuel purchases, at a 4.5% growth rate over the same period in 2014, finds Visa Inc.’s latest Retail Spending Monitor. Overall retail sales growth, include automobile sales, was a modest 1.2%. The largest …

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Research Shows How Durbin Torpedoed Visa And MasterCard’s PIN Debit Traffic

By John Stewart The Durbin Amendment’s transaction-routing requirements, which have been in effect now for three years, are widely thought to have benefited merchants by increasing competition for debit card traffic. But PIN debit networks that aren’t owned by Visa Inc. and MasterCard Inc. were expected to benefit as well …

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Costco Gets a Lift by Adding Card Acceptance to Food Courts

By Jim Daly Warehouse retailer Costco Wholesale Corp. has been in the news recently because it is  replacing American Express Co. with Visa Inc. and Citigroup Inc. as its major-brand payment card partners. But a little-noticed change in its U.S. stores’ food courts shows what can happen when a retailer adds …

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Younger Consumers Inclined To Choose Debit, Especially for the Rewards

Debit-rewards programs offered by banks appear to be rebounding a little, with younger consumers more motivated than other age groups to use them. That’s according to a new report from payments-research firm Mercator Advisory Group Inc. Debit rewards programs fell out of favor with banks following passage of the Durbin …

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As P2P’s Popularity Shoots Upward, Facebook Enters the Game With Messenger

The viral popularity of peer-to-peer payments among younger consumers hasn’t gone unnoticed at the massive social networks that serve their needs for instant communication. Facebook Inc. on Tuesday said it has introduced a P2P payments service on its Messenger platform and will be rolling it out across the country “over …

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Eye on ATMs: BMO Harris Bank’s New Cardless App; Diebold Buys Software Maker

By Jim Daly Chicago-based BMO Harris Bank on Monday unveiled a mobile app for cardless ATM cash withdrawals and claimed it has the nation’s largest network of ATMs configured for smart-phone-based withdrawals. Meanwhile, ATM manufacturer Diebold Inc. said it bought a Canadian software company as part of a strategy to …

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With EMV’s Rise, Debit Card Fraud on Canada’s Interac Network Falls to a New Low

Counterfeit fraud on Canada’s Interac debit cards fell 45% to a record low in 2014, and 80% of the fraud happened outside of Canada, according to new figures from Toronto-based Interac Association. The five-year slide in skimming-related fraud coincides with the rise of EMV smart cards in Canada as well …

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Cardtronics Finds Banks To Fill Part of Its Chase ATM Void

Leading retail ATM network owner Cardtronics Inc. has already found banks ready to put their brands on 40% of the Cardtronics ATMs that until recently bore the JPMorgan Chase & Co. brand, chief executive Steve Rathgaber told analysts Wednesday. Chase informed Houston-based Cardtronics about three months ago that it planned …

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