Wednesday , January 15, 2025

Issuing/Originating

If It Happens, a TSYS Spin-off Will Add to Industry Overhaul

Confirming long-standing industry speculation, Columbus, Ga.-based bank-holding company Synovus Financial Corp. on Tuesday said it would consider spinning off its processing subsidiary, Total System Services Inc. (TSYS), to Synovus shareholders. Assuming a spin-off eventually happens, TSYS will have played a key role in 2007's major processing-industry restructuring that will take …

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Eyeing Decoupled Debit Cards, Tempo Begins Wooing Bank Issuers

With an eye to Capital One Financial Corp.'s introduction last month of a so-called decoupled debit card product, which relies on settlement through the automated clearing house network and so does not require cardholders to have a demand-deposit account with Cap One (Digital Transactions News, June 7), debit network sponsor …

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‘Day of Reckoning’ Beckons As Image Volume Peaks in ’08

Image-exchange networks and the financial institutions that use them to process checks electronically may have to contend with a dwindling supply of checks sooner than they expected. For the time being, the networks are doing a robust business, with the volume of items expected to more than quadruple this year, …

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Now Independent, Discover Looks to Grow Issuing, Acquiring, Debit

Discover Financial Services LLC, whose shares began trading on Monday on the New York Stock Exchange, is finally on its own as a corporate entity for the first time in its 22-year- history. But while the spin-off from parent company Morgan Stanley is complete, Discover's mission of gaining market share …

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Prepaid Eyes the Potential in Consumer Rebates And Incentives

In a move that could give the market for network-branded prepaid cards a big boost, Parago Inc. has launched a campaign to move its clients from checks to one-time-use cards for rebates and cash incentives. The Dallas-based company, which manages consumer rebate and rewards programs for corporations, hopes to have …

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‘Biggest Thing Since PayPal,’ Cap One Card Bids for Debit Share

A new Capital One Financial Corp. MasterCard debit card that Cap One can market nationwide like a credit card has the potential to vault the financial-services company into the top ranks of debit card issuers and help MasterCard Worldwide swipe debit market share from Visa USA, the payments expert who …

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Contactless Usage May Be on the Rise, Reports Suggest

Information is beginning to emerge indicating that consumer usage of contactless devices for payments may be picking up. According to an Internet survey conducted by Atlanta-based Synergistics Research Corp. late last year, 9% of respondents had used a contactless card or fob. In two previous surveys, both conducted by phone …

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Expert: Banks Should Mine Data Troves to Build Merchant Loyalty

Consumers are more loyal to the form of payment they prefer than they are to any particular retail brand, a situation that could work to the benefit of card issuers and processors but also merchants, a retail consultant says. In a survey cited by Gary Charboneau, president of Wakefield, R.I.-based …

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Some Phishing News Not As Good As It Seems, Latest Report Says

In the battle against the online fraud known as phishing, March brought a mix of good news and bad, with dramatic drops in malicious software offset by a steep rise in targeted brands, according to the latest report from an organization that tracks the fraud. Separately, the U.S. Commerce Department …

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Phishing Sets Record As Fraudsters Link Hands Across Borders

The volume of unique phishing attacks hit an all-time high in January, while fraudsters broadened their reach to spoof Web sites they hadn't targeted before, such as social-networking and gambling sites, according to a group that tracks phishing fraud. The number of unique phishing e-mails hit 29,930, up 26% over …

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