GLG News by Financial Printing Experts

Discover Financial Services has signed three more merchant acquirers in 3Q07, which means Discover has access to more than 90% of U.S. transaction processing volume, with deals from Chase Paymentech, BA Merchant Services and most recently Wells Fargo Merchant Services and Discover is closing in on 100%...

NetBank, with total assets of $2.5 billion and $2.3 billion in total deposits as of 6.30.07, was closed on 9.28.07 by the Office of Thrift Supervision (OTS) and the FDIC was named receiver by the OTS of NetBank's assets. The FDIC's Board approved the acquisition of the insured deposits of NetBank by...

Consumers should have more control in how their identity information is used. In financial services and payments, the trick is to bridge the islands of identity directly from the core processing systems or payment account record out to notifications and controls that securely and conveniently reside...

In a twist in the bidding war between Nasdaq and Borse Dubai for OMX, Nasdaq may be willing to sell its 31% stake (worth $1.6 billion) in the LSE (London Stock Exchange) to Borse Dubai and other bidders interested in the LSE and may agree to a joint bid for OMX with Borse Dubai. Nasdaq doesn't want...

Why has debit and credit cards become so popular? Consumers have adopted debit cards as their preferred payment of choice over the last five years. 66% of consumers say debit and credit cards are more convenient, 60% use cards to pay for unexpected expenses, while 37% said they use cards to finance...

There are some heinous and egregious practices by some card issuers. Most are aimed at obfuscating and complicating the process for consumers to understand how they are subjected to fees or interest rate hikes. Regulatory bodies are taking action against unfair practices in the credit card industry,...

PayPal has introduced a new payment product called "PayPal Pay Later" which rivals I4 Commerce's BillMeLater. Each company has different value propositions, with PayPal relying on its brand and large customer base whereas I4 Commerce's BillMeLater focuses on the ability of the merchant to garner sales...

Many consumers are neutral on contactless as being a security threat. This makes security a barrier that contactless needs to get over in order to enhance adoption. This barrier may lead to more cardholder interest in PIN for both credit and debit cards.

In 2007 25% of banks and credit unions will integrate check imaging/no envelope deposit ATMs and by 2008, 58% of bank's ATMs will be deposit automated enabled compared to 65% for credit unions. Wincor has taken deposit automation tech one step further and moved ahead of competitors NCR and Diebold by...

TJX has spent more than $216 million due to a lapse in data security after cyber thieves may have hacked into a wireless hub used for TJX's store controller that handles  their POS (Point-of-Sale) system.  Once the thieves gained access they may have been able to work their way into TJX's...