Experian has announced a new cardholder verification service for online merchants.
In a nation of 1.3 billion people, only 100 million Chinese have a clear idea of what a bank card is, based on a Mastercard survey focusing on China's emerging middle-class household conducted in May, said Fung. But by 2010, the number of Chinese middle-class households with annual income above US$5,000 will rise to 150 million from 65 million currently, based on MasterCard data.
Fote not only earned himself a promotion (he was named First Data's CEO in 2002) but also pulled off a remarkable feat: He turned one of America's best-known brands into a trusted household name among foreigners -- a market that most U.S. businesses still haven't learned how to serve.
"Bankers are struggling to understand this trend," says Dean Seifert, Western Union's vice president for product development. "We're riding it."
I cannot emphasize how concerned I am that your new regulations may very well wreak havoc with the privacy laws that California has established for its residents, and with the state's banking laws more generally.
I just received a gift of a book from a friend. Included in the box from Amazon along with the shipping paperwork was a simple, no-nonsense flyer from ING Direct offering me a $25 bonus for opening an ING Direct Orange Savings Account. Odds are that Amazon customers are online capable.
There's a reason that ING Direct has grown over the last two or three years from almost nothing to something like the fortieth largest bank in the US in terms of deposits! Want to learn more? See their recent Investor Relations Symposium presentation (PDF).
"VeriFone's message to the marketplace is: 'The Wait is Over' at the point-of-sale," said Douglas G. Bergeron, Chairman and CEO of VeriFone. "Enhanced Communications solutions from VeriFone deliver fast and secure payment processing that can greatly improve speed of service and profitability."
Morgan Stanley analyst Mary Meeker published an initial report on Google this morning, initiating coverage with an Overweight-V rating. Included in the report is an interesting comment regarding Google's current lack of an integrated payment system.
Designed to respond to the unique and diverse needs of everyday small business owners, the credit card is enhanced with extra features and capabilities -- all with no annual fee -- and offers everything from a business-size credit line to unlimited free employee cards to a superior rewards program, and a suite of business services and solutions.
NACHA estimates that about 225 million (2 to 3 percent) of checks written in retail stores are converted to e-checks. And approximately 10 percent of all consumer bill payments made by check are now converted into electronic payments, the group says.
An e-check is a one-time electronic debit made from your checking account. So, your checking account statement would reflect an electronic funds transfer. Under electronic check conversion, your check is simply used to obtain information -- bank routing number, check number, etc. -- to process your purchase or payment. All that information is used to make an electronic withdrawal from your account using the Automated Clearing House network (ACH).