Tags » Announce Yourself!
We just launched a new feature on Payments News that we're calling (for the moment anyway) "Announce Yourself". Are you a "payments professional" who has recently moved to a new position in the industry? If so - and you'd like to share the news with your industry colleagues here on Payments News, be sure you tell us about it - and we'll help spread the news. No more waiting for the printing presses to run! We'll be posting management change announcements here on Payments News as we get them - and we'll be tagging them with a special Announce Yourself! tag so they'll always be easy to find. Comments, questions? Send 'em to us here.
Tags » Banking Industry, Health Savings Accounts
Aite Group has announced new research titled "Health Savings Accounts: A Bounty for Banks?" that forecasts that "large and specialty banks will be the winners in the health savings account (HSA) market as they will see significant growth in the numbers of HSAs they provide." Aite forecasts that by 2010, large banks will likely support 40% of HSAs (up from 20% in 2006), and specialty banks will support 35% of HSAs (up from 30% in 2006).
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Tags » Debit Cards, Interchange Fees, MasterCard
The latest Nilson Report has arrived featuring an in-depth look at the rankings of the top US Visa and MasterCard credit card issuers (subscription only). This issue also has articles discussing a significant change in how MasterCard is now reporting is US debit card purchase volume, a look at American Express' new rewards structure, and the fees paid by US merchants for card acceptance in 2005.
Tags » Contactless Payments
Andrew Bolger, Scotland Correspondent for the Financial Times, writes about contactless payments in Scotland saying contactless will be "the next significant change to sweep the retail and banking industries."
Tags » Debit Cards, Interchange Fees, Tempo Payments
Debitman Card has announced that WESCO Stores has joined the The Retailer's Network and is now issuing its own branded debit cards to customers at its 51 Michigan locations. WESCO is combining the debit card with a consumer loyalty program that automatically discounts gas prices at the pump for card users and in the future will incorporate merchandising promotions.
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Tags » Debit Cards, Prepaid Cards and Stored Value Cards
Green Dot Corporation has announced that H&R Block has joined the Green Dot Financial Network to enable its customers to add funds to H&R Block's prepaid debit cards.
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Tags » Contactless Payments
The latest issue of Smart Card Talk, the newsletter of the Smart Card Alliance, has an article about the differences between the contactless smart cards being used for payment applicaitons and EPC Gen 2 RFID tags being used in supply chain management applications. "The RFID technologies that are used to add value in manufacturing, shipping and object-related tracking operate over long ranges (e.g., 25 feet), were designed for that purpose alone and have minimal built-in support for security and privacy. Contactless smart cards, on the other hand, use RF technology, but, by design, operate at a short range (less than 4 inches) and can support the equivalent security capabilities of a contact smart card chip."
Tags » Financial Regulators, Interchange Fees
Fumiko Hayaski and Stuart E. Weiner of the Federal Reserve Bank of Kansas City have published an article in the bank's Economic Review titled "Interchange Fees In Australia, The UK, And The United States" (PDF). According to the abstract, "Interchange fees are an integral part of the pricing structure of credit and debit card industries. While in recent years the theoretical literature on interchange fees, and payment cards in general, has grown rapidly, the empirical literature has not. Hayashi and Weiner seek to provide a bridge between the theoretical and empirical literatures on interchange fees. Specifically, they confront theory with practice by asking, to what extent do existing models of interchange fees match up with actual interchange fee practices in various countries? The results suggest that a theory applicable in one country may not be applicable in another and that similar interchange fee arrangements and regulations may well have different implications in different countries."
Tags » Credit Scores, Experian
Experian Consumer Direct has announced the results of a nationwide study showing the differences between consumers with and without mortgages and consumers with and without second mortgages (including home-equity loans or lines of credit). National and statewide results for the study can be found on
Experian's National Score Index Web site at http://www.NationalScoreIndex.com.
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Tags » Commercial Cards, Commercial Payments, Experian
Experian has announced the results of a new study that takes a deeper look at the makeup of small-business owners and identifies key characteristics between owners of incorporated and unincorporated microbusinesses.
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