In a new paper titled "The Laws, Regulations, Guidelines, and Industry Practices That Protect Consumers Who Use Gift Cards" , Industry Specialist Philip Keitel of the Payments Cards Center at the Federal Reserve Bank of Philadelphia discusses the consumer protections available to gift card users. READ MORE

In a press release this afternoon anticipating tomorrow's House Judiciary Committee meeting to mark up H.R. 5546, the "Credit Card Fair Fee Act of 2008," MasterCard urged members of the Committee "to consider the many credible organizations and regulatory bodies that have voiced significant concerns about this legislation." READ MORE

American Express has announced it has signed a hotel folio agreement with IHG (InterContinental Hotels Group) that enables American Express to provide its corporate card customers with reports that break down their lodging expenditures at nearly 2,800 IHG properties in the U.S. READ MORE

In his Semiannual Monetary Policy Report to the Congress today, Federal Reserve Chairman Ben S. Bernanke concluded his remarks by discussing the rules that the Federal Reserve working jointly with the Office of Thrift Supervision and the National Credit Union Administration have proposed regarding unfair or deceptive practices for credit card accounts and overdraft protection plans. READ MORE

Bill Me Later has announced "that to celebrate its launch on Amazon.com, customers that pay with Bill Me Later will receive $10 off qualifying Amazon.com purchases of $50 or more. The offer is available through July 21, 2008." READ MORE

In what's called "a groundbreaking joint effort by the nation's fastest growing union and trade associations representing merchants, the Service Employees International Union (SEIU), Food Marketing Institute (FMI), National Association of Convenience Stores (NACS), and the National Grocers Association (N.G.A.) sent a letter to every Member of the House of Representatives today calling on Congress to stop the nation's biggest banks and credit card companies from continuing abusive practices which harm American consumers and businesses. The groups jointly urged Congressional action to pass the Credit Cardholders' Bill of Rights Act of 2008 (H.R. 5244), the Credit Card Fair Fee Act (H.R. 5546 and S. 3086), and the Credit Card Interchange Fees Act of 2008 (H.R. 6248)." READ MORE

Aladdin Knowledge Systems has announced a partnership with IdenTrust to provide identity authentication solutions for secure online banking and financial transactions. READ MORE

Juniper Research has released a new analysis of the NFC mobile payments opportunity forecasting that "the gross transaction value of payments made via NFC contactless technology, for relatively low value purchases (such as refreshments, tickets and food), will exceed $75bn globally by 2013."

But, in a cautionary note about the rosy forecast, the report notes that "the industry as a whole will need to convince both consumers and merchants of the merits of yet another payment mechanism on top of cash, cheques, credit and debit cards, and to allay understandable (even if unfounded) fears and scepticism about the security of The Mobile Wallet." READ MORE

41st Parameter has announced that it has been selected by Continental Airlines "to help detect and prevent Card-Not-Present (CNP) fraud in its online sales channels. The airline will employ 41st Parameter’s FraudNet to help it identify legitimate versus suspect website transactions on a global basis, as well as to prevent fraudulent account access, enabling the airline to protect sensitive customer data." READ MORE

Phillip W. Steitz has been appointed to the position of Chief Information Officer (CIO) for Barclaycard US, the credit card business of Barclays PLC in the United States. Mr. Steitz most recently served as Senior Vice President and Chief Technology Officer for American Express, where he oversaw global technology standards and strategy. READ MORE

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