Thursday , April 19, 2018

Debit Cards

Visa Cuts Interchange for Utilities That Forgo Surcharges

Hoping to increase its penetration in consumer bill payments to gas, electricity, and other utility companies, Visa USA today rolled out incentives for utilities to accept its cards and to encourage more card transactions. The incentives include a lower credit and check card interchange fee on certain consumer card transactions …

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Visa’s New Debit Rates Help Interlink But Could Anger Merchants

Visa's decision to increase its interchange rates for PIN debit transactions on its Interlink network may generate more revenue for the network's issuers but will also create more interest in competing non-bank networks catering to merchants, according to some observers. Visa yesterday released a four-page document to member banks outlining …

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MasterCard Reports 3Q U.S. Purchase Volume Growth of Almost 8%

Purchase volume on MasterCard International credit and signature-based debit cards in the U.S. grew almost 8% in the third quarter, to $132.9 billion, the bank card company reported today. MasterCard credit cards registered growth of 6.9%, to $109.7 billion, well below worldwide growth of 11.2%. On the signature debit side, …

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TransFirst, First American Appoint New ISO And Sales Executives

TransFirst, a Dallas-based processor that has grown significantly through acquisition over the past two years, has appointed two new executives to run its divisions concerned with independent sales organizations, agents, and resellers. Ryan O'Connor, formerly with Nova Information Systems, a unit of U.S. Bank, has become president of TransFirst's ISA …

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Canadian Payments Association Plans New Online Payments Rules

The Canadian Payments Association is planning to implement a new rule for clearing Internet transactions involving the electronic debiting of consumer accounts. The association hopes to finalize the rule in December, which if approved would take effect early next year, according to Roger Dowdall, vice president of communication and education …

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1-800 Contacts Signs on to Accept Benny Debit Card

Evolution Benefits Inc. and 1-800 Contacts Inc. have reached an agreement under which the retailer of replacement contact lenses will accept Evolution Benefits' Benny debit card. The card, cobranded with MasterCard and Visa, will tap flexible-spending and health-reimbursement accounts set up by corporate employees, which the employees have funded with …

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Metavante Buys the Software Company Behind SVPCo.’s Network

Metavante Corp. continues to pursue an aggressive acquisition strategy in electronic payments with it announcement today that it agreed to buy VECTORsgi, a software company in Addison, Texas, that sells check-imaging software. The acquisition, valued at $100 million in cash plus another $35 million to be paid if certain targets …

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Can a Veteran of ATM Networking Succeed in Health Care Processing?

A veteran ATM network executive thinks he can succeed at building a national health-care transaction-processing system, though similar efforts have a dismal record of failure. The executive, Joseph E. Wolfson, founder of the Metroteller electronic funds transfer network, expects the HealthTransaction Network to begin processing transactions from health-care insurance companies …

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The Sub-$2 Market Keeps Growing?at the POS As Well As Online

The number of Americans ages 12 and up who bought sub-$2 digital content online in the past year has ballooned to more than 14 million, up from 4 million a year ago, according to a survey released today. “The data suggest that the online micropayments market has grown significantly in …

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