Debit Cards

First Data Corp. says it does not expect an investigation by the U.S. Department of Justice of its money-transfer business to have an effect on the completion of its acquisition of Concord EFS Inc. The Denver-based processor said earlier this week it expects to close the merger with Concord Feb. …

First Data Corp. officals vowed today they expect to fight hard to add to the debit business of Concord EFS Inc., the debit processor First Data is buying for $6.9 billion. In a meeting with securities analysts to present 2003 full-year and fourth-quarter results, First Data chairman and chief executive …

A brief reference to a rival debit card network in a recent document sent from Visa USA Inc. to its members has raised the hackles of the co-founder of that network and embroiled him in a debate with Visa USA chief executive Carl Pascarella over the risk associated with debit …

Just weeks after Wal-Mart Stores Inc. informed MasterCard International Inc. that the chain would stop accepting MasterCard debit cards effective next month, the bank card company has released a consumer survey showing that merchants who reject debit cards risk losing sales. Sponsored by MasterCard and conducted by Harris Interactive, best …

Pay By Touch, a San Francisco-based company offering a biometrics-based technology that allows consumers to pay at the point of sale without presenting a card, keyfob, token, or any other payment medium, announced today that it has formed an alliance with IBM Corp. that should give the fledgling biometrics company …

Debit cards were hot in 2003, and research released this week shows just how hot. A study conducted by Boston-based Dove Consulting says the number of consumers using debit cards tied to personal identification numbers to make purchases in stores rose in 2003 to 57%, up from 48% in a …

First Data Corp. will not need to seek the approval of its shareholders for the revised terms announced Monday under which it will acquire Concord EFS Inc. First Data announced today it has been informed by the New York Stock Exchange that the NYSE will not require the Denver-based processor …

A major study on consumer payment preferences at the point of sale released today shows not only a stronger trend toward debit cards generally but also a stronger preference for cards secured by personal identification numbers rather than by signatures. This is despite strong promotion from the major card companies …

First Data Corp. and the Department of Justice this morning announced an agreement in which the government now gives the green light to FDC's acquisition of Concord EFS Inc. and in which the Denver-based processing giant agrees to sell its majority stake in the NYCE debit network. First Data now …

Visa USA Inc.'s newly announced interchange pricing for its signature-based, or offline, debit cards are only the starting point for what will be many rounds of negotiations with larger regional and national retailers, say industry observers. Meanwhile, despite the new rate announcement from Visa, MasterCard International Inc. says it is …