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Credit Card News Archive

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Direct marketing analysts at Mintel Comperemedia plan to start tracking online advertising this spring, according to a company announcement. The service will scan 4,000 of the country's leading websites for evidence of new advertising campaigns. Subscribers can then use the data generated to understand the effectiveness of ad campaigns, based on demographics and expenditures. Websites [...]
Categories: Other News
MasterCard's latest mobile banking service could enable consumers to transfer money directly between debit or credit card accounts, as long as issuing banks adopt the underlying technology. In a report from trade publication American Banker, MasterCard officials celebrated the launch of MoneySend, a fast money transfer service available to users of Apple iPhones. By downloading [...]
Categories: MasterCard
American Express announced six new winners of charitable grants under its revamped Members Project initiative. Social action network TakePart helped the credit card issuer manage the selection of winning non-profit organization by soliciting input from Cardmembers and TakePart.com website visitors. Voters selected six recipients to split $1.2 million in funding: National Trust for Historic Preservation and [...]
Categories: American Express
Banks may have recruited state governments to help lobby against proposed caps on credit card merchant fees. According to a report in the Washington Post, at least eight state treasurers may sign a letter to Congress opposing limits on the amounts that merchants must pay for access to payment platforms operated by companies like Visa [...]
Credit card companies contributed to growth in the direct mail sector during the first quarter of 2010, according to a new industry study. Marketing intelligence experts at Mintel Comperemedia released results of their latest direct marketing tracking figures this week. Although the report indicates that insurance mailings still outweigh credit card offers by a ratio [...]
Categories: Other News
Pennsylvania-based convenience store Sheetz, known for its made-to-order sandwiches, has partnered with a major bank to offer what company officials call the first "made-to-order" credit card. First National Bank of Omaha (FNBO) will issue the Sheetz Platinum Edition Visa card, backed by significant promotional efforts in over 350 retail locations throughout the eastern United States.During [...]
Despite concerns over the Greek banking crisis and the "flash crash," American small business owners reported a second straight month of increased confidence. The May edition of the Discover Small Business Watch index rose to 87.4, its highest level in seven months. Although slightly more than half of small business owners responding to the credit card issuer's [...]
MasterCard officials beckoned software developers to explore their credit card payment platform with the release of a new open programming toolkit. The API allows software, such as mobile phone apps, to directly interface with MasterCard processing systems that were once only available with expensive merchant accounts. "Over the past few years, we have used some of [...]
Categories: MasterCard
Commuters in New York City could soon replace a wallet full of transit passes with a single, bank-issued credit card. In a recent report, NBC New York detailed plans for a six-month test of MasterCard's PayPass technology on the complex network of public transit agencies serving the region.The PayPass test would include trains operated by MTA [...]
Alternative uses for credit card processing platforms dominated a recent roundtable discussion held by trade publication American Banker. Business services managers and industry analysts from prominent banks and brokerages, including Barclays and SunTrust, discussed innovations that both championed and challenged the banking establishment.Prepaid credit cards and debit cards earned high marks from the panel for helping to [...]
Officials at Heartland Payment Systems hope that state of the art credit card merchant terminals can help restore consumer confidence at the checkout line. The company's new E3 platform automates the process of scrambling system codes that encrypt and secure customer credit card details after they pass from the magnetic stripe and into corporate servers. While few [...]
Lawmakers hope a new bill could help consumers eliminate recurring credit card charges after signing up for "free trials" or other special marketing programs. The "Restore Online Shopper's Confidence Act" targets companies that use aggressive sales tactics to market monthly memberships or subscriptions, then make it difficult for consumers to cancel or dispute their charges.West [...]
Categories: Credit Card Law
Three credit card debt reduction companies have even more to fear in the wake of a Washington judge's latest ruling. U.S. District Judge Lonny Suko froze the assets of three telemarketing companies under investigation by the Federal Trade Commission. Already targeted by an FTC lawsuit and numerous complaints, the three companies allegedly used robo-dialers to pitch [...]
Despite a groundswell of grassroots support for the measure, the Senate voted to kill an amendment to the financial reform bill that would allow states to set maximum credit card interest rates. Rhode Island Senator Sheldon Whitehouse sponsored the measure, which was designed to restore the power to enforce local usury laws to state lawmakers.Under [...]
Wall Street lobbyists couldn't stop the Senate from approving a financial reform bill that critics say could hamper credit card issuers' ability to lend. While most of the bill's measures target derivatives trading and other high-risk financial activity, a new wave of rules would restrict cash flow to consumer and small business credit lines. Tighter [...]
Consumers have already saved $5 billion in credit card fees thanks to new laws, according to a recent report in USA Today. Researchers from the newspaper compiled survey responses from the nation's largest banks and credit card issuers to arrive at their estimates. While banks bemoan the loss of overdraft fees, locks on variable interest rates [...]
The Federal Reserve recently launched the latest phase of its consumer education initiative, a comprehensive database of credit card agreements from over 300 prominent lenders. The database extends the reach of the "What You Need to Know" website unveiled earlier in the year. Consumers can use a search engine-style text box to hunt for a particular [...]
Categories: Credit Card Law
Frequent news reports about fraudulent or ineffective credit card debt settlement companies have provoked strong reaction from legitimate, professional debt negotiators. Consumers in significant credit card debt can choose to pursue debt reduction or settlement options on their own, or they can call upon experienced negotiators who understand how to reach fair deals. Some established debt settlement [...]
Just days after identity thieves used Senate Majority Leader Dick Saslaw's credit card to purchase medical marijuana, the Federal Trade Commission has reminded banks and retail stores that its new "Red Flags Rule" takes effect June 1. The rule requires all financial institutions and creditors who process credit applications to implement a written identity theft prevention program. [...]
A new partnership between JPMorgan Chase and MasterCard may result in millions of dollars in savings for small business credit card holders. Starting this month, Chase credit card holders with small business accounts can participate in MasterCard's Easy Savings program. Easy Savings provides business buyers with automatic rebates from thousands of popular vendors, ranging from [...]
Credit card delinquencies among Americans declined for the fourth straight month, according to government filings from major banks. Discover Financial Services, Bank of America, and Capital One all told federal regulators that fewer of their account holders fell behind on payments in April. Economists often cite credit card delinquency rates as a correlation to overall [...]
Members of the United Nations Federal Credit Union have become the first recipients of American-issued credit cards featuring "chip-and-PIN" security tools. Although few American merchants have deployed credit card terminals capable of handling chip-and-PIN transactions, most UNFCU cardholders make frequent overseas trips. Combining the traditional magnetic stripe with the latest global transaction security standards will make [...]
Thanks to a new partnership between Discover Card and a union-affiliated credit card issuer, Teamsters will soon enjoy access to an exclusive version of the Discover Card. The American Union Financial Services (AUFS) and Amalgamated Bank of Chicago (ABOC) Discover Card features fraud protection services and travel rewards, along with no annual fee and a low annual [...]
Categories: Discover
Small business owners, already feeling positive in a year of economic recovery, can enjoy a complimentary speed coaching session thanks to a partnership between American Express OPEN and SCORE. Resuming a road tour first started in 2007, the Small Business Speed Coaching Test Drive combines half-hour mentoring sessions with group workshops and seminars in cities across [...]
Consumers might think twice about swiping a credit card that glows like a hot stove. That's one of the ideas behind designer Park Mi-na's concept of the "Tricard Visa," a credit card that uses electronic ink and LED technology to change its color and its printed details as a cardholder makes purchases or payments.Featured on the [...]
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