PayPal has announced that it has signed a settlement agreement with 28 United States Attorneys General. In entering into this voluntary agreement, PayPal said that it will, among other things, shorten and streamline its user agreement and communicate more information relating to its protection programs. PayPal reports that it has already complied with many of the terms in the agreement.

Visa USA has announced that leading U.S. merchants continue to adopt the Visa No Signature Required Program, which waives the signature requirement for qualifying Visa transactions less than $25 across 17 merchant categories using existing magnetic stripe POS card acceptance terminals. The program, launched in April 2006, is designed to accelerate Visa acceptance and card usage at traditionally cash-intensive merchants. According to Visa, 7-Eleven, Inc., Clearview Cinemas, Dairy Queen, Domino’s Pizza, and Sonic Drive-In are among the newest merchants now participating in the program. Visa estimates indicate that by the end of 2006 as much as 27 percent of all Visa transactions may qualify for Visa's No Signature Required Program.

Visa International has announced that, "for the ninth consecutive year, the World Travel Awards, the prestigious awards ceremony that acknowledges significant achievements in all areas of the travel and tourism industry, has named Visa the "World's Leading Credit Card."

We have received news of the following recent management changes:

• Ronald V. Congemi, senior vice president of strategic industry relationships for First Data Corp., has been elected chairman of the board of the Electronic Funds Transfer Association.
• Lisa Pollina has been named Global Financial Institutions Executive in Bank of America's Global Treasury Services business.

• Electronic Funds Transfer Association Announces New Slate of Officers
  
• TSYS Workshop Discusses Strategies for Debit Rewards