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« October 2, 2011 - October 8, 2011 | Main | October 16, 2011 - October 22, 2011 »

October 13, 2011

JPMorgan Chase - Card Services 3Q2011 Financial Results

Chase logo 140pxJPMorgan Chase has reported financial results for the third quarter 2011.
  • For its Card Services unit, Chase reported net income of $849 million, compared with $926 million in the prior year.
  • Excluding the Washington Mutual and Commercial Card portfolios, Card Services net revenue as a percentage of average loans was 11.68%, compared with 11.33% in the prior year and 11.95% in the prior quarter.
  • Excluding the Washington Mutual and Commercial Card portfolios, Credit Card sales volume2 was $84.8 billion, up 10% compared with the prior year and 2% compared with the prior quarter; excluding also the impact of the Kohl’s portfolio sale, sales volume was up 14% compared with prior year.

Chase Paymentech merchant processing volume was $138.1 billion, up 18% from the prior year and 1% from the prior quarter; 6.1 billion total transactions processed, up 17% from the prior year and 3% from the prior quarter.

October 12, 2011

PayPal Introduces Commerce Identity System

PayPal logo 140pxPayPal has announced the availability of 'PayPal Access', a new trusted commerce identity system that allows buyers to shop across the web without having to remember multiple passwords.
Unlike identity solutions currently on the market, PayPal Access provides everything consumers and merchants need to create an account and complete a transaction – including user verification, shipping information, and payment details.
A complete product description of PayPal Access, along with screen shots, is available on the x.commerce website.

Mobey Forum Releases 'Business Models for NFC Payments' White Paper

Mobey forum logo 140pxMobey Forum has announced availability of a white paper entitled ‘Business Models for NFC Payments’, which highlights what needs to happen to make NFC contactless mobile payments at the point of sale (POS) a mass market reality.
As NFC technology continues to gain momentum, the study demonstrates how stakeholders can assess different implementation options, define the business case and roles that will meet their requirements and establish a clear go to market strategy with essential partnerships.

NCR, S1 and PayPal to Offer Person-to-Person Payments via ATMs

Ncr logo 140pxNCR has announced they will be working with PayPal and S1 Corporation to enable real-time P2P payments from their bank’s ATMs to almost anyone with a mobile phone or e-mail address. This service will initially be available in the U.S. with the ability to send money to people in more than 60 countries around the world.

October 11, 2011

Discover to Provide Cashback Bonus at

Discover logo 140pxDiscover and have announced that Discover cardmembers can now pay directly with Cashback Bonus for purchases at Additionally, Discover cardmembers can now earn double cash rewards on their purchases made at through the end of 2011.

First Data Releases September 2011 SpendTrend

First data logo 140x60pxFirst Data has released its First Data SpendTrend analysis for the full month of September 2011 compared to September 2010.
Overall year-over-year dollar volume growth continued to show improvement at 9.5% in September versus 9.0% in August. Transaction growth was flat at 7.1% in September compared to 7.2% in August. General merchandise stores (including value retail) continued to perform well with dollar volume growth of 9.5% in September.

SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations.

Heartland Payment Acquires School-Link Technologies

HeartlandPayments logo 140pxHeartland School Solutions, a division of Heartland Payment Systems, announced that it has acquired School-Link Technologies, a privately held provider of comprehensive K-12 school nutrition and point-of-sale (POS) solutions.
“Heartland’s strategic acquisition of these premier K-12 service providers positions us as the market leader and will have a meaningful impact on our future growth,” said Bob Carr, Heartland’s chairman and chief executive officer. “Heartland School Solutions provides a single, powerful suite of payment processing solutions to help take K-12 school nutrition programs to the next level of ease of use and innovation.”

Deluxe Launches 'SwitchAgent' to Ease Burden of Bank Account Transfer

Deluxe logo 140pxDeluxe Corporation has announced the launch of 'SwitchAgent', a "new solution for banks and credit unions that allows consumers to easily switch from one financial institution to another… The banks and credit unions using Deluxe’s SwitchAgent service in the beta experienced a 70 percent switch completion rate."

Harland Financial and Harland Clarke Launch P2P Payment Network

Harland logo 140pxHarland Financial Solutions and Harland Clarke have announced they have launched their own P2P payment network called 'Direct Payment Exchange' or DPXpay.
The Direct Payment Exchange provides a common P2P platform for the companies’ 11,000 plus clients, facilitating lower cost movement of money while providing a more convenient enrollment process for consumers wishing to use the network’s DPXPay™ desktop or mobile solution.

Global Payments to Deploy Accertify Risk Management Solutions

Accertify logo 140pxAccertify has announced that Global Payments will offer Accertify risk management technology to its eCommerce merchants.
Through the existing Global Transport gateway, merchants will be able to easily leverage the fraud protection and data management capabilities of Accertify, enabling them to protect against card-not-present (CNP) fraud and mitigate counterfeit and identify theft risks.

October 10, 2011

Fiserv Adds New Financial Institutions to ACCEL/Exchange

Fiserv logo 60pxhFiserv has announced that its ACCEL/Exchange debit payments network "brought nearly 250 financial institutions to the global PIN debit ATM and debit network in the first half of 2011, bringing total membership up to more than 2,900 financial institutions. Concurrent with the addition of these new members, Fiserv has seen transaction volume in the network increase as well. Transactions at both ATMs and point of sale (POS) are up 31 percent for the first six months of 2011."

Glenbrook at Airline Travel and Payments Summit

GP Logo Horizontal 140px Are you planning to attend the Airline Travel and Payments Summit (ATPS) in Toronto this week? Glenbrook's Jacqueline Chilton will be on hand to speak on Wednesday, October 12 on "Social Media's Impact on Payments". If you're attending, be sure to drop Jacqueline a line. She'd love to chat about payments.

The Bankers Bank Names STAR its Preferred Debit Network

STAR logo 140pxFirst Data has announced that The Bankers Bank, of Oklahoma City, has selected the STAR Network to provide electronic funds transfer (EFT) network services to its customers. Owned by nearly 100 community banks, The Bankers Bank serves correspondents in Oklahoma, Texas, and throughout the Midwest.

ShredMyCard Program Provides $105 Incentive to Move DDA to Credit Union

Cscu logo 140pxCo-op Services Credit Union has announced that it is challenging people to shred their bank debit cards in protest of new debit card usage fees.
Co-op Services' "Shred My Card" program gives people the opportunity to take their bank debit card to any Co-op Services location, open a new free checking account with direct deposit, e-statements and a debit card then shred their old bank debit card, to receive $105.

Details of the credit union's challenge are available at


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