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Annual Fees

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October 19, 2015

Headline News from - October 19, 2015

On the Web

  • Yahoo Executive Reses Said to Leave Company to Join Square - Bloomberg - "Jacqueline Reses is departing Yahoo! Inc., where she had been chief development officer, to join Dorsey’s Square Inc...."
  • For First Data, the way to investors' hearts is through their stomachs - Fortune - "First Data’s big new pitch to investors is that it can arm small businesses with the same sophisticated apps, and Big Data analytics, that until now exclusively benefited the likes of Target or Dunkin’ Donuts."
  • What 2016 Holds for Bitcoin Businesses - CoinDesk - "The hard reality is, there just isn’t currently enough volume to support all the exchanges, payment gateways and wallet providers that have sprung up, let alone the number of secondary service providers, such as bitcoin compliance solutions, that have been created to support the first wave of service providers."

On the Wires

  • Square Hires Jacqueline Reses, Yahoo Executive and Financial Services Veteran, to Lead Square Capital - “Jackie’s understanding of the financial services industry and her background in tech and investing make her the perfect fit to lead Square Capital, and I’m thrilled she is joining our leadership team,” said Jack Dorsey, CEO of Square.
  • MasterCard to Tokenize MasterPass for Online and In-App Shopping - "At the request of Issuers enabling MasterPass for their customers, MasterCard will replace the personal account numbers (PAN) for consumer credit, debit, commercial and prepaid cards stored in MasterPass with a secure “token” – a new 16-digit number that represents the existing PAN on the front of a payment card. Tokens are unique to each bank-connected MasterPass wallet and carry EMV-based security protection that provides additional peace of mind for consumers and merchants alike."
  • MCX Adds BIM’s Guaranteed ACH Payments to CurrentC™ App - “We are hearing directly from consumers about the importance of having choices when it comes to payment within the app. With BIM’s technology and the ability to pay via a checking account, consumers will soon have several options for paying for goods and services using CurrentC™” said Brian Mooney, MCX CEO. “While consumers want options, they also want security. We chose BIM’s technology for its seamless integration with CurrentC™, security features, and fraud prevention capabilities.”
  • WEX Inc. Announces Definitive Agreement to Acquire Electronic Funds Source LLC - “We are very excited about the prospect of combining these two great companies, which have a strong customer orientation, aligned strategy and a complementary footprint,” said Melissa Smith, WEX’s president and chief executive officer. “We believe this acquisition strengthens our value proposition to customers with a portfolio of best-in-class offerings that will better meet their evolving needs."
  • U.S. Bank Launches VantagePoint; New Centralized Receivables Management Platform - “U.S. Bank is committed to continued investment in receivables capabilities and technology to improve our client experience,” said Rich Erario, head of U.S. Bank Global Treasury Management. “The bank conducts in-depth process reviews with businesses and hosts focus groups on a regular basis to fully understand their most pressing business challenges. VantagePoint is a direct result of those conversations. By streamlining the receivables management process and improving data reporting, VantagePoint makes it easier for our clients to make informed business decisions.”
  • Citi Launches Paperless Processing and a Fully Digital Experience of Electronic Bank Account Management (eBAM) in North America - “This is an important milestone in Citi’s digital journey. With these enhancements, our clients will realize greater efficiencies and benefit from a more streamlined onboarding process,” said Michael Fossaceca, North America Region Head, Citi Treasury and Trade Solutions.
  • Citi Expands Citi Payment Exchange into Canada, Building on U.S. Success - “We are committed to innovate, constantly finding new ways to support our clients in their end-to-end process and make their payment management simpler and more efficient. The unique opportunity with Citi Payment Exchange is that it allows organizations to leverage the power of the next generation of corporate payments, such as virtual cards,” added Stephanie Zee, Director and Cash Product Head, Citi Treasury and Trade Solutions, Canada.
  • Synchrony Financial to File Registration Statement in Connection With GE Exchange Offer - “We have been preparing to separate from GE since plans were announced two years ago,” stated Margaret Keane, president and CEO of Synchrony Financial. “We have built the infrastructure and the teams needed for separation and are excited about our future as a standalone business."

Glenbrook's 2015 Payments Education

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here:!

August 13, 2009

Citi Adding Annual Fees to Certain Credit Card Accounts

Citi_logo-140px.jpgIn an article titled "Annual Fees: Citi Takes Leap" in tomorrow's American Banker, Maria Aspan reports that Citi "has started adding annual fees to some of its existing credit card accounts in one of the first such attempts by a major issuer to offset the effects of the government's crackdown." Many have expected to see a return to annual fees for more accounts as a result of Credit Card Accountability, Responsibility and Disclosure Act signed into last May.
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