Thursday , April 19, 2018

Issuing/Originating

How Some Retailers Have Bolstered Their Gift Cards’ Firepower

Closed-loop gift cards are not the new kids on the block any more, but some retailers in 2008's holiday shopping season found ways to wring more usage out of their cards despite the faltering economy and bad press about gift cards. That's the word from a newly released market assessment …

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Banks Make Strides in Fighting ID Fraud, But Lag in Mobile Alerts

Financial institutions have made big strides in fighting identity fraud over the past year but still lag in preventing the crime by using such technologies as mobile alerts, according to a report released this week by Javelin Strategy & Research. “Despite so many consumers having mobile devices, banks are still …

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U.S. Bank Hikes Contactless Adoption with Targeted Issuance

Nearly one-third of U.S. Bank customers who have been issued a contactless debit card have performed at least one contactless transaction since the bank's program began in June, an executive with the bank said on Wednesday. “So far, it's looking really promising,” Michael Shepard, group product manager for consumer credit …

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MasterCard Sees New Service As a Big Step Toward Commercial NFC

MasterCard Inc. on Thursday announced a service it sees as a major step toward the ultimate commericialization of contactless payments via mobile phones. Intended primarily for the North American and European markets, the MasterCard Over-the-Air Provisioning Service is aimed at allowing any member issuer to readily personalize a handset for …

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New BBB-Backed Payroll Card Program Aims at Fast Growth

In the hunt for a trustworthy partner, a prepaid card issuer and payment card network probably couldn't do better than the Better Business Bureau. That's the theory, at least, behind the new MasterCard-branded TrustCard, a payroll card issued by Palm Desert National Bank that initially is being offered by the …

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Canada Is Set to Start a National Rollout of Chip-Equipped Debit Cards

Canada's financial institutions will start issuing microchip-embedded debit cards by the end of the year, the country's national electronic funds transfer network said on Tuesday. The rollout of chip cards, which follows a year-long pilot of so-called chip-and-PIN technology in the Kitchener-Waterloo, Ontario, area, will over the course of four …

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Contactless Payment Stickers Appear To Be Set for Prime Time

So-called stickers, or chip-and-antenna inlays that can be affixed to mobile phones or other tokens to turn them into contactless-payment devices, are showing signs of developing from a novelty to a commercial product. CPI Card Group, a card manufacturer in Littleton, Colo., expects to ship “several million” bank-card-branded payment stickers …

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Time Is Short, But Revolution Money Sticks to Million-Merchant Goal

Revolution Money Inc., the upstart that bills itself as merchants' low-cost alternative to the established card brands, this week announced that Murphy Oil USA Inc. is now accepting its RevolutionCard. It's a notable win for Revolution Money as Murphy has nearly 1,000 gas stations in 20 states, most located in …

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BART Pilot Results Prove Case for Multiaccount NFC, First Data Says

Results from a pilot in San Francisco involving multiple accounts on cell phones equipped with specialized contactless-payment capability show that consumers will readily adopt such technology as a form of wallet and as a way of accessing marketing content, says an executive with the processor involved in the pilot. In …

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Visa Could Score a Debit Win As Wachovia Jilts Citi for Wells

Just a week ago, it looked like MasterCard Inc. was about to win a battle in its ongoing debit card war with market leader Visa Inc. MasterCard stalwart Citigroup Inc. had struck a deal to buy, with help from the government, most of struggling Wachovia Corp.'s banking assets, including Wachovia's …

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