Debit Cards

Visa USA's announcement this week of a new program to foster card transactions in the growing category of small-value payments would seem at first blush to be the bank card network's answer to some observers' long-held contention that the card associations should create incentives for the emerging technology of contactless …

VeriFone Holdings Inc.'s proposed $793 million acquisition of rival Lipman Electronics Engineering Ltd. will give the U.S.'s leading payment terminal maker access to more countries and the fast-growing wireless-terminal segment, a processing analyst tells Digital Transactions News. “The advantage for VeriFone is to get into more countries offshore,” says Jamie …

Debitman Card Inc.'s new chief executive sees no significant strategic changes ahead for the PIN debit network, though he says some new products are likely within a year, possibly including a stored-value offering. “I think the strategy is spot-on,” says Michael Grossman, a former Intuit Inc. executive and most recently …

Boulder, Colo.-based Combined Payments Inc.'s FastLane, a new network that converts driver's licenses into loyalty and payment cards, Thursday announced that it had secured its first advertiser as part of a point-of-sale program that will share revenues with participating merchants. The $2 million deal involves the La Jolla, Calif., office …

In a move that quintuples the number of ATMs in its network, Citigroup Inc. today announced it will brand machines in 5,500 7-Eleven Inc. convenience stores in 31 states. The ATMs, which will bear the Citibank brand, will allow customers to withdraw cash without incurring surcharges, a feature the bank …

Authorities nabbed seven individuals this week as part of the U.S. Secret Service's newly disclosed Operation Rolling Stone undercover effort against cybercrime and payment card fraud, and more arrests are expected, a Secret Service spokesperson tells Digital Transactions News. Though the Secret Service is being cautious about releasing details of …

Simon Property Group Inc. announced today it will install some 360 ATMs in 160 shopping malls it manages in 31 states. The machines, which are owned and operated by Bank of America, will be live by June in the malls' common areas, said Simon, the nation's largest owner and manager …

More than a month after officially unveiling its much-anticipated entry into the signature-debit card market, details of Discover Financial Services Inc.'s debit card strategy remain sketchy. Discover's sales pitch to financial institutions to issue its debit cards is built around its ability to offer issuers an interchange rate that is …

In the spin-the-bottle game of assessing blame for the massive debit card breach that has compromised an estimated 600,000 accounts, point-of-sale software developer Fujitsu Transaction Solutions Inc. late last week suddenly found itself the recipient of unwelcome publicity when its name came up in a Visa USA alert about card …

Few people know First Data Corp. better than David P. Bailis. Starting in 1989, he worked on everything from health-care payments to e-commerce and held titles as diverse as general counsel and chief administrative officer. He retired in 2001 to dabble in his own financial-services consulting businesses. But he came …