Joel Millman and Robin Sidel report for the Wall St. Journal's Heard on the Street column in Tuesday's edition on the surprise retirement today of First Data Chairman and CEO Charles Fote and the appointment of Henry C. "Ric" Duques as his successor.  The article focuses on FDC's Western Union business unit and its prospects in the face of increased competition and pricing erosion.

MasterCard Incorporated has announced that its shareholders voted, at a special meeting of shareholders, to approve a range of proposals to provide MasterCard with a new ownership and governance structure.

Smart Card Talk, the newsletter of the Smart Card Alliance, in its latest issue includes a profile of MasterCard's smart card initiatives based upon an interview with Toni Merschen, head of MasterCard's Chip Center of Excellence.

First Data Corp. has announced that Chairman and CEO Charles T. Fote is retiring from the Company for personal reasons and that former CEO Henry C. (Ric) Duques will be returning to the company as Chairman and CEO.

Note: Throughout the day, as Payments News happens, this post is updated.

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