Content about Debit cards

January 30, 2014

Global credit and debit card issuer Visa Inc. has publicly called for adoption of secure payment technology in response to recent high-profile retailer data breaches.

Foster City, Calif. – Global credit and debit card issuer Visa Inc. has publicly called for adoption of secure payment technology in response to recent high-profile retailer data breaches. In a short statement contained within a financial release, Visa CEO Charlie Scharf said Visa wants to move U.S. retailers toward chip cards that use the Europass, Matercard, Visa (EMV) standard, and away from the more commonly used magnetic stripe cards.

December 16, 2013

Sales of gift cards in 2013 are expected to surpass $118 billion in sales, an 8% increase from 2012.

Arlington, Va. -- Sales of gift cards in 2013 are expected to surpass $118 billion in sales, an 8% increase from 2012. CEB Tower Report research suggests that the widespread adoption of e-gifting, which experienced rapid growth from $300 million in 2012 to a predicted $3 billion in 2013, will provide scale for continued industry gains through 2016.

November 18, 2013

Dollar volume growth in credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations in October 2013 was 6.8%, an uptick from the prior month’s growth of 5.3%.

Atlanta -- Dollar volume growth in credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations in October 2013 was 6.8%, an uptick from the prior month’s growth of 5.3%. First Data Corporation’s First Data SpendTrend analysis shows the growth was supported by the onset of cooler temperatures, which drove sales of seasonal merchandise and early holiday advertising attracting shopper foot-traffic.

November 12, 2013

In the first 10 months of 2013, e-commerce sales are up 17% from the same period last year, according to the Visa Spending Intentions survey.

New York -- In the first 10 months of 2013, e-commerce sales are up 17% from the same period last year, according to the Visa Spending Intentions survey. To-date in 2013, Visa domestic e-commerce transactions exceeded one billion dollars on 211 days, an increase of 19% from 2012.

In other findings:

December 17, 2012

A report issued by CEB TowerGroup found that sales of gift cards will surpass $110 billion and spillage will drop 20% to $1.7 billion.

Boston -- A report issued Monday by CEB TowerGroup found that sales of gift cards will surpass $110 billion and spillage will drop 20% to $1.7 billion.

Propelling gift card sales past the $100 billion dollar mark is an increase in open loop gift cards purchases like those offered by American Express, Visa, Mastercard and Discover ($40 billion), restaurant gift cards ($19 billion) and merchant cards ($36 billion).

October 25, 2012

By Mark Putman

Perhaps no time of year epitomizes the evolving trend of the integrated consumer buying experience more than the holiday season. Buyers are quickly realizing that rather than spending hundreds on gifts destined to be quietly returned come January 2013, the most efficient use of their money centers on gift cards and other prepaid methods that offer the recipients flexibility and choice. 

August 15, 2012

Retailers looking to add sparkle to this year’s Christmas season may want to take a new look at their gift card programs. Last year, more than half of consumers bought at least one gift card for the holidays, according to a report from First Data Corp., an Atlanta-based e-commerce processor.

Indeed, consumers seem to be taking more of a shine than ever to these types of spending vehicles.

April 3, 2012

American Express Co. has become the first company to pull its gift cards from being sold in New Jersey drug stores, supermarkets and convenience stores in response to a controversial new revision in the state's unclaimed property law.

New York -- American Express Co. has become the first company to pull its gift cards from being sold in New Jersey drug stores, supermarkets and convenience stores in response to a controversial new revision in the state's unclaimed property law. (The only way New Jersey residents can now buy AmEx gift cards is directly from the company.)

December 12, 2011

By Greg Hammermaster, president, Sage Payment Solutions

By Greg Hammermaster, Sage Payment Solutions

May 5, 2011

Michaels Stores has learned that PIN pad tampering may have occurred in its Chicago-area stores and that customer credit- and debit-card information may have been compromised.

Irving, Texas -- Michaels Stores has learned that PIN pad tampering may have occurred in its Chicago-area stores and that customer credit- and debit-card information may have been compromised.

The company was contacted this week by banking and law enforcement authorities after some fraudulent debit-card transactions were reported over the weekend. Authorities believe the fraudulent transactions may be linked to legitimate transactions in Chicago-area Michaels stores.

April 29, 2011

By Giles Sutton and Mark Wuller, Grant Thornton

By Giles Sutton and Mark Wuller, Giles.Sutton@us.gt.com, mark.wuller@us.gt.com

March 24, 2011

By Giles Sutton, J.D., LL.M, Grant Thornton LLP

By Giles Sutton, J.D., LL.M, giles.sutton@us.gt.com

Gift-card sales have surged in recent years. With electronic or virtual gift cards and mobile applications that allow consumers to purchase and redeem gift cards from their mobile/smartphones, sales only continue to grow. While consumers flock to them for their flexibility, businesses have embraced them as a means to increase sales. Not only are buyers spurred into making new purchases, but they often spend more than the gift-card amount.

October 3, 2010

Aldi said the names, account numbers and secret codes of customers in 11 states were...

September 9, 2010

A report released Friday by payment system provider First Data Corp. said that card spending...

August 2, 2010

Debit-card provider Tempo said Tuesday that c-store chain QuikTrip is expanding its QuikTrip Rewards Debit...

May 16, 2010

Walmart announced the first cash-back incentive for consumers using a prepaid debit card....

May 9, 2010

The National Retail Federation on Monday urged the Senate to approve amendments to financial services...

December 14, 2008

GRAND RAPIDS, Mich. As economic concerns grow, consumers getting gift cards this holiday season are...

September 14, 2008

Forever 21 issued a statement on its Web site on Friday with news that its...

August 21, 2008

Cost Plus World Market has identified 11 stores where hackers appear to have gained access...

March 2, 2008

The state of Ohio is considering a two-year minimum on gift-card expiration....

January 31, 2008

New rules issued by the IRS are affecting the way many retailers process the...

June 30, 2007

German Retailers Embrace SEPAThe push to achieve a single European payment area (SEPA), with credit-reading...

May 31, 2007

Pet-Store Chain Adds Private-Label CreditEven the smallest retail chains can offer private-label credit-card services. Shake...

January 31, 2007

Merchant Risk Council Holds Fraud Prevention ConferenceThe Merchant Risk Council (MRC), a retail industry association...