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JCB AND BULGARIA'S TRANSCARD SIGN LICENSE AGREEMENTS FOR MERCHANT ACQUIRING AND OPERATIONS
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JCB, a leading international payment brand, is pleased to announce that its international subsidiary, JCB International Co., Ltd., has signed acquiring and card issuing license agreements with Transcard SA, based in Sofia, Bulgaria. The signing ceremony took place at JCB's world conference held in Kyoto this month. Transcard will start merchant operations by March 2005 and card issuing by September 2005.
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Posted: Friday, October 29, 2004
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FLOAT TIME IS GONE WITH CHECK 21 LAW
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Checks You Write Will Clear Within 24 Hours In Many Cases
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Posted: Friday, October 29, 2004
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'FLOAT' TIME FOR CHECKS ENDS THURSDAY WHEN NEW LAW TAKES EFFECT
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Starting Thursday, a new law will affect millions of checking-account customers.
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Posted: Friday, October 29, 2004
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LAW MAKES CHECK-FLOATING RISKIER
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Technology and a new federal law will soon make extinct the legally dubious but popular practice of check-floating.
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Posted: Friday, October 29, 2004
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NEW LAW TO SPEED CHECK CLEARING, REDUCE 'FLOAT'
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A new banking law that goes into effect Thursday will increase the speed of check processing and allow banks to replace canceled checks with digital surrogates.
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Posted: Friday, October 29, 2004
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CHECK CLEARING CHANGES START
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Paper checks will one day be a thing of a past.
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Posted: Friday, October 29, 2004
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NEW CHECKING LAW REDUCES FLOAT TIME
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A sweeping new banking law, called The Check Cleaing for the 21st Century Act or Check 21, goes into effect Thursday. Under the federal law, checks could clear much faster, possibly within hours.
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Posted: Friday, October 29, 2004
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ON CAMPUS, STUDENTS FIND CREDIT CARD USE MORE ACCESSIBLE
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This year it has become easier to swipe on campus as more and more local stores and restaurants modify their credit and debit card acceptance policies.
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Posted: Thursday, October 28, 2004
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CO-OP NETWORK CREDIT UNION GROUP RENEWS AND GROWS RELATIONSHIP WITH STAR NETWORK
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First Data Corp. today announced that CO-OP Network(R), the nation's largest credit union EFT network, has renewed its relationship with First Data Debit Services for STAR PIN-secured debit services.
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Posted: Wednesday, October 27, 2004
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FIRST DATA AND AT&T RENEW NETWORKING CONTRACT
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AT&T and First Data Corp. , a global leader in electronic commerce and payment services, today announced a three-year networking agreement with AT&T for an extensive portfolio of integrated data and voice services.
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Posted: Wednesday, October 27, 2004
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VISA PROJECTS GROWTH IN BUSINESS SPENDING
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Commercial spending by American businesses and government entities will continue to expand by an estimated 3.6% next year, according to the latest Visa U.S.A. Commercial Consumption Expenditure (CCE) index.
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Posted: Wednesday, October 27, 2004
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MICRO TO THE MAX
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'Digital piggy bank' collects mini payments
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Posted: Monday, October 25, 2004
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FOUR DAYS UNTIL CHECK 21 - THE LARGEST OVERHAUL OF THE BANKING INDUSTRY IN DECADES
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On October 28, 2004 the Check Clearing for the 21st Century
Act (Check 21) will take effect in the U.S. Check 21 enables banks to
accept electronic images of checks as proof of payment rather than the
physical paper checks.
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Posted: Monday, October 25, 2004
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DINERS' CEO PREPARED FOR CARD PLAY
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Diners Club North America this year entered into an acceptance alliance with MasterCard International, boosting the number of worldwide merchants that accept the card from 8.3 million to 22 million.
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Posted: Monday, October 25, 2004
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AMERICAN EXPRESS REPORTS RECORD QUARTERLY EARNINGS
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American Express Company today reported record net income of $879 million for the third quarter, up 14 percent from $770 million a year ago. Diluted earnings per share (EPS) rose to $0.69, up 17 percent from $0.59 a year ago.
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Posted: Monday, October 25, 2004
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PEOPLE WITH CHECK BOOKS: BE AWARE
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The banking industry will undergo some major changes starting next Thursday. Checks that used to take a few days to clear, may now be cashed by the bank in one day electronically.
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Posted: Monday, October 25, 2004
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EXECUTIVE DETAIL CORP. ANNOUNCES AN AGREEMENT SIGNED WITH LEGACY CARD COMPANY, LLC.
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Executive Detail Corp. (CEO America, Inc.) is pleased to announce that it has signed a Letter of Intent with Legacy Card Company, LLC. of Santa Monica, California, to process and manage technology for the Legacy 529 Tuition Card, a new MasterCard credit card providing college tuition savings as a reward program. Based on projections, the contract is estimated to be valued in excess of $10 million dollars over the 5-year term of the agreement.
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Posted: Friday, October 22, 2004
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CERTEGY PROFIT JUMPS IN Q3
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Certegy Inc. reported its third-quarter net income was up 10.6 percent and it plans to sell its retail merchant acquiring business, which has been reclassified as a discontinued operation.
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Posted: Friday, October 22, 2004
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MYOB US, INC. ANNOUNCES NEW MYOB ACCOUNTEDGE SMALL BUSINESS SOFTWARE FOR MAC
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MYOB US, Inc. is proud to announce MYOB AccountEdge(R) and MYOB AccountEdge Network Edition 2005, Mac OS X software for small businesses looking to save time and money by operating more efficiently than ever with powerful new features and fully integrated electronic business services.
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Posted: Friday, October 22, 2004
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CORECARD SOFTWARE UNVEILS REAL-TIME COLLECTIONS APPLICATION
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CoreCard Software, Inc., a PaySys International Inc. spin-off and premier provider of next-generation credit card and merchant transaction processing applications, today announced the release of its real-time, debt recovery application CoreCOLLECT(TM) that enables credit card issuers and merchant acquirers to more efficiently manage and optimize their in-house and outsourced collections efforts.
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Posted: Friday, October 22, 2004
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CARDSERVICE HENDERSON ESTABLISHES STRONG INTERNET PRESENCE WITH MERCHANTACCOUNTOFFERS.COM
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Businesses looking for a merchant account for their credit card processing needs need to look no further – MerchantAccountOffers.com, Cardservice Henderson's new state-of-the-art website, offers a wide array of merchant services to retail, keyed, online/internet ecommerce, wireless, small businesses and home based businesses.
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Posted: Friday, October 22, 2004
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DILLARD'S EXPANDS CHECK WARRANTY SOLUTIONS WITH CERTEGY
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Certegy Inc., a leading global payment services provider, today announced a multi-year agreement to provide expanded check warranty services to Dillard's stores nationwide. A Certegy customer since 1994, Dillard's ranks among the nation's largest fashion apparel and home furnishings retailers with 329 stores in 29 states.
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Posted: Thursday, October 21, 2004
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INTUIT CANADA AND OPTIMAL PAYMENTS RENEW AGREEMENTS
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Optimal Payments' Powers Intuit Canada's Credit
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Posted: Thursday, October 21, 2004
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GLOBAL PAYMENTS ANNOUNCES MULTI-YEAR CONTRACT RENEWAL WITH NORTH AMERICAN BANCARD
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Global Payments Inc., a world leader in electronic transaction processing solutions, announced today that North American Bancard (NAB) has signed a five-year renewal agreement to sell Global's credit card processing services. Global will provide to NAB an entire payment card processing solution including authorization, capture, settlement and BIN sponsorship. Under a separate one- year agreement, Global will also give NAB the capability to provide electronic check conversion and check guarantee services to its merchants.
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Posted: Thursday, October 21, 2004
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TOKYO CABS TO TRY RFID PAYMENTS
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Credit card company JCB International is launching a trial of its QUICPay contactless payment system in November with Tokyo taxi drivers.
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Posted: Wednesday, October 20, 2004
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PUMA.COM FORTIFIES ONLINE SALES CHANNEL WITH CLEARCOMMERCE
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Puma.com launched its site in 2000, to embrace the digital advantages of on-line commerce. However, the deluge of orders for the online athletic footwear and apparel store put a strain on a system that was unprepared for the manual processing and escalating online fraud that ensued.
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Posted: Monday, October 18, 2004
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BANK OF AMERICA CLOSES $1.4 BILLION DEAL TO ACQUIRE NATIONAL PROCESSING
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Merchant Services division of Bank of America becomes the nation's second- largest bankcard merchant acquirer
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Posted: Monday, October 18, 2004
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ONLINE RESOURCES TO ACQUIRE INCURRENT SOLUTIONS, INC.
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Online Resources Corp., a leading outsourcer of Internet banking and payment services, today announced that it has entered into a definitive agreement to acquire Incurrent Solutions, Inc., for $15 million in cash and stock.
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Posted: Monday, October 18, 2004
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CHECK 21 POLICY
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Check 21 allows banks to make a digital copy of your original check then destroy the original. Your bank will keep the digital check on file for seven years in case you need a copy.
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Posted: Monday, October 18, 2004
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FASTFUNDS FINANCIAL ANNOUNCES NEW CONTRACTS
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FastFunds Financial Corporation announced today that its two subsidiaries, Chex Services and FastFunds International, providers of comprehensive cash access services under the trademarked name FastFunds to gaming facilities, retail locations and corporations, have executed three new contracts for various cash access services offered by the Company.
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Posted: Monday, October 18, 2004
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FIRST DATA REPORTS STRONG THIRD QUARTER RESULTS
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Results Powered by Western Union and Merchant Point-of-Sale Activity
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Posted: Thursday, October 14, 2004
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BYE-BYE, CANCELED CHECKS
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Later this month financial institutions and many merchants will be taking a big step closer to a more paperless society.
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Posted: Thursday, October 14, 2004
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COST OF ACCEPTANCE DRIVING SOME RETAILERS TO LIMIT CARD PAYMENTS
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Who says retail payments is a business dominated by big household names? To be sure, Visa and MasterCard (and to a somewhat lesser extent, American Express and Discover) dominate the public mindshare. But among retailers there's a subtle shift taking place-a shift away from the thinking that they must accept every form of tender consumers want to use, to accepting a select few payment types and brands.
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Posted: Thursday, October 14, 2004
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BIG PAYMENTS CASES REFLECT BIGGER ISSUES
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Payments Anti-trust Legal Issues Case Study
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Posted: Thursday, October 14, 2004
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INDUSTRY UPDATE
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Consumers Turn Cautious, MasterCard Reports Online Debit Growth, Visa Breaks Olympic Sales Record, First Data Announces New Partners, and more.
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Posted: Thursday, October 14, 2004
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FIRST DATA AND DRUGSTORE.COM, INC. OFFER 'PAPERLESS' PURCHASES
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Electronic commerce and payments leader First Data Corp. (NYSE:FDC) and leading online retailer drugstore.com, inc. (Nasdaq:DSCM) today announced that the two companies are working together to simplify the processing of Flexible Spending Account (FSA) purchases made through the drugstore.com(TM) Web store.
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Posted: Monday, October 11, 2004
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ID THIEVES TARGET ENTERPRISES
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ID thieves are going corporate. Assuming the identity of consumers to obtain loans and credit cards under assumed names has become the US's fastest growing crime. Now fraudsters are applying similar tricks against potential enterprise victims.
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Posted: Monday, October 11, 2004
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CUTTING BACK THE PAPER
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A new federal law takes effect Oct. 28, increasing odds that a check will bounce if you pay now, deposit later -- counting on the time that can be taken in processing a check to cover what ends up as a withdrawal from your account.
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Posted: Sunday, October 10, 2004
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ABCS OF CREDIT CARD
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Credit cards, one of the banking products that cater to the needs of retail segment has seen its number grow in geometric progression in recent years. This growth has been strongly supported by the development in the field of technology, without which this could not have been possible.
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Posted: Saturday, October 09, 2004
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DEBIT CARD FEES SNEAK UP ON SHOPPERS
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More banks are tacking on point-of-sale fees -- and aren't adequately warning customers, some groups say. Watch your bank statement to find out.
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Posted: Saturday, October 09, 2004
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DEBIT CARDS CONTINUE GROWTH IN POPULARITY
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A recent Harris Poll conducted for Visa USA showed that when it comes to buying an article of fall clothing, such as a sweater or jeans, nearly half of the 1,562 people surveyed said they were most likely to use a debit card. Among 18- to 34-year olds such as Perez, 54 percent said they would use debit cards.
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Posted: Friday, October 08, 2004
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PEOPLES TRUST SELECTS FIRST DATA FOR CARD PROCESSING SERVICES
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First Data Corp. (NYSE: FDC - News), a global leader in electronic commerce and payment services, and Canada-based Peoples Trust have signed a long-term agreement in which First Data will provide card processing services for Peoples Trust secured card MasterCard accounts.
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Posted: Thursday, October 07, 2004
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U.S. HIGH COURT RULING A WIN FOR CONSUMERS
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The U.S. Supreme Court struck a blow for the free market and consumer choice. The Justices today denied an appeal by Visa and MasterCard that prevented most U.S. financial institutions from doing business with competing networks such as Discover.
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Posted: Tuesday, October 05, 2004
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NEW CHECK POLICY TO START OCT. 28
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Sufficient funds must be available when paying
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Posted: Monday, October 04, 2004
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ALL DEBIT CARDS ARE NOT CREATED EQUAL: UNDERSTANDING ONLINE AND OFFLINE DEBIT
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More and more campuses are offering payment card functionality with their campus card program. Students enjoy the flexibility of using the card for payment at both on and off campus locations just as they would any other bank-issued card. But while virtually all of the payment options are debit products, there are major differences between debit products. To understand the options available to your card program, an understanding of the debit card landscape is essential.
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Posted: Monday, October 04, 2004
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ELECTRONIC PAYMENTS EXPECTED TO ACCOUNT FOR 43% OF U.S. CONSUMER PAYMENTS BY 2007
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Electronic payments are expected to grow from 33% of the consumer payments mix in 2002 to 43% by 2007 according to a new report from market research publisher Packaged Facts titled 'Third-Party Processing in North America'.
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Posted: Monday, October 04, 2004
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SUSAN TOMPOR: STORES TURN PAPER INTO E-CHECKS
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I picked up my 6-year-old son from school last week, and we drove to Wal-Mart to see the future for paper checks.
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Posted: Monday, October 04, 2004
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BANKS, RETAILERS TAKE SWIPES AT EACH OTHER
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It's no mistake that the bank-card swipe device at Wal-Mart Stores Inc. asks customers first to enter their secret personal identification number -- their PIN -- to begin a debit purchase.
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Posted: Sunday, October 03, 2004
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'ELECTRONIC CHECK CONVERSION' GAINING
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Banks aren't the only businesses using electronic means to process paper checks. Increasingly, consumers are finding that their checks are being electronically converted by retailers, credit card companies, and other companies that need to be paid.
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Posted: Sunday, October 03, 2004
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