Content about Financial services

July 30, 2014

Amazon.com and Blackhawk Network Inc., a prepaid and payments network, have teamed up to bring customers a new way to manage and spend their gift cards.

Seattle – Amazon.com and Blackhawk Network Inc., a prepaid and payments network, have teamed up to bring customers a new way to manage and spend their gift cards. Using the new Amazon Wallet app, customers can more easily store, redeem and check the balance of gift cards from dozens of major retailers and restaurants.

July 24, 2014

Visa Inc. is introducing Visa Digital Solutions, a comprehensive suite of offerings that facilitate secure payments across a broad range of Internet-connected devices and wearables.

Foster City, Calif. – Visa Inc. is introducing Visa Digital Solutions, a comprehensive suite of offerings that facilitate secure payments across a broad range of Internet-connected devices and wearables.

Visa Digital Solutions fall into two main categories of supporting new payment models and protecting consumers and supporting innovation.

July 16, 2014

Visa is launching a new service, Visa Checkout that enables consumers throughout the United States, Canada and Australia to pay for goods online, on any device, with just a few clicks.

San Francisco -- Visa is launching a new service, Visa Checkout that enables consumers throughout the United States, Canada and Australia to pay for goods online, on any device, with just a few clicks.

July 16, 2014

Visa Inc. is opening One Market, a 112,000-sq.-ft. innovation center and office space at One Market Street in San Francisco.

San Francisco - Visa Inc. is opening One Market, a 112,000-sq.-ft. innovation center and office space at One Market Street in San Francisco. The move provides Visa technologists, clients, partners and the Bay Area tech community an innovative space to jointly develop the next generation of commerce applications.  

July 8, 2014

According to a survey of more than 1,100 U.S. consumers from the Retail Gift Card Association (RGCA), 77% of consumers have given a gift card in the past year and 90% have received at least one in the past year.

Washington, D.C. - Americans love giving and receiving gift cards. According to a survey of more than 1,100 U.S. consumers from the Retail Gift Card Association (RGCA), 77% of consumers have given a gift card in the past year and 90% have received at least one in the past year.

July 3, 2014

Cardtek Group, a provider of software for financial transactions and EMV migration, is launching Cardtek USA.

Chicago – Cardtek Group, a provider of software for financial transactions and EMV migration, is launching Cardtek USA. The company’s North American headquarters, based in Chicago, will facilitate the U.S. adoption of Europay-MasterCard-Visa (EMV) technology in an effort to help prevent credit card fraud and data breaches.

June 30, 2014

Charles & Colvard Ltd. has closed a new three-year $10 million asset-backed credit facility with Wells Fargo Bank.

Morrisville, N.C. - Charles & Colvard Ltd. has closed a new three-year $10 million asset-backed credit facility with Wells Fargo Bank. The company’s previous credit facility with PNC Bank was terminated.

The new credit facility provides Charles & Colvard working capital for general corporate purposes and to pursue continued growth opportunities and is secured by Charles & Colvard assets. The company currently does not have any other long-term debt and the new credit facility is undrawn.

 

June 18, 2014

Kroger Co. on Wednesday said it plans to withdraw from two multi-employer pension funds and will incur a charge of $56 million in the first quarter as it contributes that amount to restructure its pension obligations.

Cincinnati -- Kroger Co. on Wednesday said it plans to withdraw from two multi-employer pension funds and will incur a charge of $56 million in the first quarter as it contributes that amount to restructure its pension obligations. The move is in line with the retailer’s desire to exert more control over employee-retirement programs.

June 13, 2014

Panera Bread Company has secured a five-year $100 million term loan from Bank of America, Wells Fargo and TD Bank.

St. Louis — Panera Bread Company has secured a five-year $100 million term loan from Bank of America, Wells Fargo and TD Bank. Proceeds from the loan will be used for general corporate purposes, including a range of growth initiatives such as the rollout of the Panera 2.0 in-store technology initiative.

May 9, 2014

After several months of sluggish retail sales, consumer shopping in the U.S. rebounded in April, according to the latest MasterCard SpendingPulse report, which aggregate national retail sales activity in the MasterCard payments network, coupled with estimates for all other payment forms, including cash and check.

Purchase, N.Y. -- After several months of sluggish retail sales, consumer shopping in the U.S. rebounded in April, according to the latest MasterCard SpendingPulse report, which aggregate national retail sales activity in the MasterCard payments network, coupled with estimates for all other payment forms, including cash and check.

May 7, 2014

More than two-thirds of U.S. shoppers will buy gift cards during the spring and summer seasons, according to a just-released survey by the Retail Gift Card Association.

Washington, D.C. -- More than two-thirds of U.S. shoppers will buy gift cards during the spring and summer seasons, according to a just-released survey by the Retail Gift Card Association.

Buying occasions include Mother’s Day, graduation and weddings. Key findings of the RGCA spring and summer gift card study, which polled more than 1,100 American shoppers, include:

April 17, 2014

MasterCard has entered into an agreement to acquire Pinpoint Pty. Ltd. , an Australian provider of loyalty and rewards services to financial institutions across the Asia Pacific region.

Purchase, N.Y. – MasterCard has entered into an agreement to acquire Pinpoint Pty. Ltd., an Australian provider of loyalty and rewards services to financial institutions across the Asia Pacific region. This acquisition is expected to close in second quarter 2014.

April 1, 2014

Wells Fargo & Company and Dillard’s have entered into an agreement for Wells Fargo to fund, issue and service Dillard’s-branded private label and co-brand credit cards.

San Francisco -- Wells Fargo & Company and Dillard’s have entered into an agreement for Wells Fargo to fund, issue and service Dillard’s-branded private label and co-brand credit cards. Wells Fargo will also manage the cardholder loyalty program for Dillard’s.

The program agreement has a 10-year term and is anticipated to become operational in the fourth quarter of 2014, following the scheduled expiration of Dillard’s current program agreement. Financial terms of the agreement were not disclosed.

March 27, 2014

The National Retail Federation (NRF) told the Senate on March 26 that it’s time for an overhaul of the nation’s credit- and debit-card system, saying banks’ insistence on cards that use a signature instead of a Personal Identification Number (PIN) puts merchants and their customers at risk.

Washington, D.C. -- The National Retail Federation (NRF) told the Senate on March 26 that it’s time for an overhaul of the nation’s credit- and debit-card system, saying banks’ insistence on cards that use a signature instead of a Personal Identification Number (PIN) puts merchants and their customers at risk.

February 26, 2014

The National Retail Federation is officially recognizing the financial institution JPMorgan Chase & Co. for its decision to issue Europay, Mastercard and Visa (EMV)-compliant payment cards that require customers to enter a personal identification number, as well as store their personal data in an encrypted microchip.

Washington, D.C. -- The National Retail Federation (NRF) is officially recognizing the financial institution JPMorgan Chase & Co. for its decision to issue Europay, Mastercard and Visa (EMV)-compliant payment cards that require customers to enter a personal identification number (PIN), as well as store their personal data in an encrypted microchip.

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.

January 28, 2014

Capillary Technologies has entered a joint marketing agreement with American Express in which American Express will introduce Capillary’s Intelligent Customer Engagement solutions to select medium-sized retailers in the U.S.

Mountain View, Calif. -- Capillary Technologies has entered a joint marketing agreement with American Express in which American Express will introduce Capillary’s Intelligent Customer Engagement solutions to select medium-sized retailers in the U.S. Capillary’s solutions enable merchants to engage with their customers across in-store, social media, e-mail, local and mobile channels, with a view to increasing shopper loyalty and fueling online and physical store sales.  

January 2, 2014

Target Corp. said a “small percentage” of its gift cards were not properly activated and, as a result, are not working properly when customers try to redeem them.

New York — Target Corp. said a “small percentage” of its gift cards were not properly activated and, as a result, are not working properly when customers try to redeem them.

“We are aware that some Target gift cards were not fully activated and apologize for the inconvenience,” Target spokeswoman Molly Snyder said in an e-mail, Reuters reported.

December 17, 2013

Starbucks anticipates record purchases and activations of Starbucks cards on Thursday, Dec. 19.

Seattle – Starbucks anticipates record purchases and activations of Starbucks cards on Thursday, Dec. 19. Last year, more than 2 million Starbucks cards were purchased in the U.S. and Canada on the Thursday before Christmas, representing nearly 1,500 cards purchased per minute in the U.S. and Canada.

November 27, 2013

MasterCard and global online payment provider Ogone are partnering on the integration and deployment of MasterPass.

Purchase, N.Y. -- MasterCard  and global online payment provider Ogone are partnering on the integration and deployment of MasterPass. This collaboration which covers Belgium, The Netherlands, France, United Kingdom, Germany and Spain in a first phase and the remaining countries Ogone operates in later on.

November 21, 2013

Seventy-four percent of shoppers plan to give one or more gift cards this holiday season, and nearly 30% planned on giving five or more gift cards, according to a study by the Retail Gift Card Association (RGCA).

Oklahoma City -- Seventy-four percent of shoppers plan to give one or more gift cards this holiday season, and nearly 30%  planned on giving five or more gift cards, according to a study by the Retail Gift Card Association (RGCA). The results show that gift cards drive store traffic, with 78% of consumers planning to spend their cards at the retailer's brick-and-mortar location

The Holiday Gift Card Trend Tracker Survey finds that the number of gift cards consumers plan to purchase as gifts this year increased by 71%.

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:

November 7, 2013

The Eminence Capital hedge fund has reportedly purchased a 9.8% stake in Men’s Wearhouse.

Houston – The Eminence Capital hedge fund has reportedly purchased a 9.8% stake in Men’s Wearhouse. According to the New York Times, Eminence Capital wants Men’s Wearhouse to reconsider the $2.3 billion buyout offer it recently rejected from Jos. A. Bank.

Eminence reportedly believes Jos. A. Bank is willing to make a higher bid if Men’s Wearhouse will consider it. The fund manages about $4.5 billion. Neither Eminence nor Men’s Wearhouse has commented publicly on the purchase.

October 11, 2013

Consumers are spending more money via digital commerce than ever before. According to a new survey from Visa and GfK Research, “The Way We Pay,” more than half of respondents are more comfortable spending money online today than five years ago.

Foster City, Calif. – Consumers are spending more money via digital commerce than ever before. According to a new survey from Visa and GfK Research, “The Way We Pay,” more than half of respondents are more comfortable spending money online today than five years ago. The data shows that consumers are spending more than they ever have – exceeding $1 billion per day on the Visa network in 188 days since January.

October 8, 2013

American Express Serve announced a free nationwide cash load network and the addition of new money management capabilities to its full-service reloadable prepaid account.

New York -- American Express Serve announced a free nationwide cash load network and the addition of new money management capabilities to its full-service reloadable prepaid account. The new features enable Serve customers to load cash for free at more Than 14,000 participating CVS/pharmacy and 7-Eleven stores

The new features include: direct deposit, bill pay, mobile check capture, and personal financial management tools. These enhancements are designed to meet the needs of the nearly 70 million Americans underserved by traditional financial services.