The Latest News from the Credit and Debit World
By MICHAEL LIEDTKE
The Associated Press
DON EMMERT / AFP/GETTY IMAGES
The Visa logo hangs on the front of the New York Stock Exchange Tuesday — the stock-market debut for the company.
SAN FRANCISCO — Catapulted by the biggest IPO in U.S. history, Visa shares soared 28 percent in their stock-market debut Wednesday as […]
Investigation Finds Overdraft Fees Increased 11 Percent
PITTSBURGH — Valerie Reuben saw her overdraft fees hit $3,000 because of a mix up in a loan payment that was automatically withdrawn.Not only was she charged $38 each time her account was overdrawn, but additional fees for each day her account was overdrawn.She isn’t alone.A new investigative […]
By MICHAEL LIEDTKE, AP Business Writer
Visa Inc. raised $17.9 billion late Tuesday to complete the largest initial public offering in U.S. history and help prop up the wobbly financial services industry.
The world’s largest processor of credit and debit cards sold 406 million shares at $44 apiece to easily eclipse the previous […]
By David Sharp
AP
03/18/08 8:23 AM PT
Hannaford Bros., an East Coast chain of grocery stores, has reported that as many as 4.2 million customer credit and debit card numbers have been exposed, leading to about 1,800 reported cases of fraud. The breach in security did not expose personal information such as names or […]
By Lilla ZuillMon Mar 17, 2:04 PM ET
Visa Inc, which plans to float its shares on the New York Stock Exchange on Wednesday in the biggest U.S. initial public offering ever, will not be deterred by market turmoil that has taken a severe toll in recent […]
i2c to Process Bank Freedom Prepaid Debit Cards
LAS VEGAS, NV (February 15, 2008) i2c Inc. has been chosen as a prepaid debit card processing partner by Bank Freedom, a prepaid card program manager. Bank Freedom Prepaid card products are marketed exclusively by the Berman Marketing Group, Inc. a wholly owned subsidiary of Berman Holdings, Inc. […]
Walk-in Payment Centers to Enhance Growth
FAIRFIELD, NJ (February 19, 2008) IPP of America has closed a $20.5 million round of venture capital investment led by Old Lane, LP. The announcement said that Hamilton Investment Partners, LLC and Edison Venture Fund also participated. This investment will be used to enhance IPP’s array of electronic payment services […]
Predicts Shipments Will Double in 2008
ROGERS, MN (Feb. 20, 2008) Archway Marketing Services, Inc., says it surpassed its gift card forecast and shipped 220 million cards in 2007, 16 million more than it had forecast. The company said it nearly doubled 2006 gift card distribution numbers, shipping cards to over 50 different retail clients.
Mike […]
New CEO Named
CHARLOTTE, NC (February 27, 2008) Procesa USA, has changed its name to Procesa International, LLC. The company also announced that Patrick Brown, former president of Euronet Payments and Remittance Inc., had been named as its Chief Executive Officer.
“With the expansion of our services to a wider range of customers in the U.S. and […]
Prepaid Manager to Head Processor
SALT LAKE CITY, UT (Feb. 29, 2008) Galileo Processing, Inc. announced that Todd Brockman is joining the company as its President. The appointment is effective immediately. Clay Wilkes will remain CEO.
Brockman ran the Visa prepaid business for the last seven years. As President of Galileo, he will be responsible for setting […]
