Thursday , April 19, 2018

Issuing/Originating

AmEx’s Big Lawsuit: A Power Play Through the Banks?

American Express Co. Inc.'s decision to include eight banks as defendants in the lawsuit it filed earlier this week against Visa USA Inc. and MasterCard International Inc. may be a power play to weaken the bank card networks by widening policy differences between the networks and their major members, some …

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Discover’s Aims in Signature Debit Lie Behind Its Pulse Deal

Discover Financial Service's Inc.'s proposed acquisition of the Pulse EFT network, announced yesterday (Digital Transactions News, Nov. 15), hands the Riverwoods, Ill.-based card company instant credibility in the business of PIN debit, but it also may propel Discover's efforts to break into the high-growth signature-debit card arena. Discover, apparently encouraged …

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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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3Q ACH Volume Hits 2 Billion But E-Check Growth Cools off

The automated clearing house is handling more electronic transactions than ever, though growth in its electronic check category is showing signs of cooling off. The National Automated Clearing House Association reports the ACH network interchanged almost 2.1 billion transactions among financial institutions overall in the third quarter, the first time …

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Diner’s Club Tops New Test of Credit Card Sites

The Web site for specialty charge card issuer Diner's Club scored 100% reliability and topped a new weekly test of both reliability and response time at nine credit card Web sites. The Diner's site posted a response time of 7.03 seconds, significantly ahead of the second-place site, Capital One (8.20 …

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Discover Sues, AmEx-MBNA Get Set in Wake of Supreme Court Decision

Within minutes of the U.S. Supreme Court's decision this morning to let stand a lower court's ruling forcing Visa and MasterCard to allow members to issue cards on the American Express Co. and Discover Financial Services Inc. networks, Discover filed suit against the bank card associations and AmEx announced it …

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Fed Says ARC, Check 21 Will Eat More and More into Check Volume

The volume of paper checks processed by the Federal Reserve is falling at a rate of 10% to 11% so far this year and is expected to plunge another 13% to 15% in 2005, according to James M. Lyon, first vice president at the Federal Reserve Bank of Minneapolis. This …

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Canada’s First Debit Fraud Estimate Pegs Losses at $44 Million

Debit card fraud in Canada last year amounted to $44 million ($34 million U.S.), which criminals drained from some 27,000 accounts, according to data recently compiled by Interac, the national electronic funds transfer network. The study represents the first attempt in Canada to measure fraud losses sustained by holders of …

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SVPCo.’s Image Exchange Goes Live with KeyBank, Chase

A network built by New York-based Small Value Payments Co. (SVPCo.) to allow banks to exchange check images has begun operations with exchanges between KeyBank and J.P. Morgan Chase. The network began with volume at a “controlled” level to allow each bank to test operations, according to an announcement from …

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Discover Redoubles Its Commitment to Single-Use Card Numbers

Although some issuers and processors have soured on so-called single-use or proxy numbers for secure Internet transactions, Discover Financial Services Inc. has just rolled out an advanced version of its own single-use system and plans very soon to begin a major marketing campaign for it. The most significant feature of …

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