GLG News by Check Processing Experts

a) existing federal, state amd municpal compliance check and balances exist b) move Rating Agency solutions to subprime mortgage losses in the large secondary market traunces into the origination systems & procedures

In 2001 there were 165 companies selling 223 solutions to banks, thrifts and credit unions.Today there are 71 companies selling 306 solutions. That’s 57% fewer companies; 37% more solutions.During the past seven years there were a total of 162 mergers and acquisitions in the account processing sector...

Market volatility, lack of liquidity and banks' unwillingness to take on more risks has hampered global M&As activity in 1Q08. Global M&A deals have tumbled to a four year low from $962 billion down to $661 billion. The private equity sector which is known for "over the top" blockbuster deal...

Another spin-off product of the Check 21 Act, Back-Office Conversion (BOC) launched in March 2007 and one year out of the gate, BOC is viewed as a more user-friendly electronic check conversion tool than POP (Point-of-Purchase) transactions, because POP requires that all or most of the merchant's checkout...

However it is resolved Neiman Marcus’s ugly spat with HSBC is a harbinger of a deteriorating credit environment and of Neiman Marcus’s coveted private label (P/L) credit card portfolio being in play in 2010.

1.  Free Market at Jeopardy 2.  Merchants want everything free 3.  If it costs to much, eliminate acceptance Merchants have groaned for years about interchange rates though they have benefited from the billions of invested dollars to manage risk offered by the card associations and...

Pay By Touch fades to black after filing Chapter 11 Bankruptcy reorganization in December 2007 and enduring contentious boardroom battles to decide the fate of the company. Pay By Touch used biometrics to authenticate consumers at the POS (Point-of-Sale) for secure check cashing and ACH based purchases....

MasterCard, which has long been a laggard in the US pin-debit market, continues to improve its offer and match-up against Visa, Star, NYCE, Pulse and Accel. It’s now positioned to move from the back of the pack and through additional processing to capture more of its transactions’ value.  

Washington Mutual (WaMu) cut a deal with TPG and other investors for a $7 billion capital injection by issuing common stock and preferred convertible stock. In addition, 1st quarter write offs of $3.5 billion contributed to an estimated first quarter loss of $1.1 billion. Clearly WaMu needs capital,...

Discover continues to play a relatively weak hand well against American Express, MasterCard and Visa. In Diners Club it acquired a meaningful international acceptance network, increased visibility and volume for its underappreciated network business, and added a payment brand decidedly different from...