American Express Announces Settlements with Bank Regulators

Posted on by wademinnie | 4748 Views | 5 min read

American Express Company has announced that certain of its subsidiaries have reached settlements with several regulatory agencies to resolve previously disclosed regulatory reviews of marketing and billing practices related to several products that have been discontinued. The settlements involve American Express Travel Related Services Company, Inc., American Express Centurion Bank and American Express Bank, FSB.

Starbucks Expands Starbucks Cards to China in Time for the Lunar New Year

Posted on by wademinnie | 10070 Views | 5 min read

Starbucks Coffee Company introduced Starbucks Gift Cards at select locations in Mainland China. Starbucks Cards can be purchased in three unique design themes, including Thank You, Kind Regards and Happy Lunar New Year. “The Lunar New Year is a time when family and friends gather to meet, connect and share stories,” said Belinda Wong, president,

Primax Teams Finish in Top 25% in Visa Global Challenge

Posted on by wademinnie | 7980 Views | 5 min read

Primax, a provider of debit and credit card issuing and merchant acquiring programs, products and services, has announced that its two entrants in the Visa Global Challenge have finished in the top 25% from among 144 participating teams world-wide. The Visa Global Challenge, a team-based, online payment simulation that tracks each competing team’s portfolio performance

American Express Agrees to Settle Class Action Litigations

Posted on by wademinnie | 6859 Views | 17 min read

American Express has said that it has agreed to settle two putative antitrust class actions filed by U.S. merchants that challenged the company’s Card acceptance agreements. The settlement agreement will address certain merchant concerns, while helping to ensure that American Express Card Members are treated fairly at the point of sale. It will also limit

B-Pesa Lands China’s Unionpay Deal

Posted on by wademinnie | 12515 Views | 12 min read

B-PESA has inked deals with UnionPay, a move that gives the newly introduced prepaid bank loop card a wider operating territory outside Tanzania, covering 1.6 million ATMs and over 12 million merchants in 142 countries. Apart from UnionPay, many Tanzania based banks have expressed interest in partnering with Smart Banking Solutions (SBS) – the company

Target Confirms Unauthorized Access to Payment Card Data in U.S. Stores

Posted on by wademinnie | 8341 Views | 4 min read

Target has confirmed it is aware of unauthorized access to payment card data that may have impacted certain guests making credit and debit card purchases in its U.S. stores. Target is working closely with law enforcement and financial institutions, and has identified and resolved the issue. “Target’s first priority is preserving the trust of our

AfrAsia, MasterCard and Infinia Launch Travel Rewards Program

Posted on by wademinnie | 3687 Views | 14 min read

AfrAsia Bank and MasterCard introduce Africa’s first travel rewards program offering real time booking on over 450 airlines and at 200,000 hotels to its World and Titanium MasterCard cardholders. In collaboration with Infinia Services & Solutions and MasterCard, this travel rewards program enables cardholders to earn XtraMiles whenever they swipe their World or Titanium MasterCard

Starbucks Anticipates Today as Busiest Day of the Year for Starbucks Cards

Posted on by wademinnie | 8229 Views | 8 min read

With many schools and businesses preparing to break for the winter holidays this week, Starbucks anticipates record purchases and activations of Starbucks Cards on Thursday, December 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

NRF – Retailers Disappointed by Approval of Credit Card Fee Settlement

Posted on by wademinnie | 9957 Views | 5 min read

The National Retail Federation issued the following statement from Senior Vice President and General Counsel Mallory Duncan in response to U.S. District Court Judge John Gleeson’s approval of a controversial antitrust lawsuit over credit card swipe fees. “We are very disappointed that this deeply flawed settlement has been approved. It is not supported by the

B-Pesa Rolled Out in Tanzania

Posted on by wademinnie | 11217 Views | 13 min read

Smart Banking Solutions Limited (SBS) has introduced the first prepaid bank grade closed loop card of its kind in Tanzanian market, named B-PESA. Speaking shortly before unveiling the B-PESA card at a ceremony held in Dar es Salaam on Wednesday, the SBS Managing Director Mr Gustav Vermaas said the card allows a customer to transact