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 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 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 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
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
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
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
MasterCard have released new standards designed to help employees take full advantage of the benefits of having their paycheck electronically deposited onto payroll cards. The payroll card standards require employers and payroll card providers to offer cardholders greater insight on how to access their pay through educational resources and increased transparency of any fees. Additionally,
TSYS have announced the release of a white paper titled “EMV is Not Enough: Considerations for Implementing 3D Secure.” The paper considers the impending U.S. migration to Europay, MasterCard, and Visa (EMV) chip to combat fraud, but concludes that there are additional steps issuers must consider to mitigate fraud risk. This report concludes that there
The most exclusive Card Membership in the world has arrived in South Africa with the launch of Centurion, from American Express. Issued by Nedbank Private Wealth, Centurion is now available by invitation only or upon appointment to a select group of individuals in South Africa. ‘Centurion is intended for clients who demand a new level
