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Welcome to Merchant Service Sales
Companies seeking a way to avoid being overcharged for excessive "service charges" and extraneous fees that have plagued the merchant processing industry for years stand to gain some considerable savings benefits by working with Merchant Service Sales.
 


Case study: Prepaid electricity metering (7/15/2011)
As governments around the world wrestle with how to use energy more efficiently, prepaid metering is gaining popularity as a substantial energy saving solution. Pilot programs have begun in India and Africa. In the United States, Oregon implemented a prepaid metering program in November 2010; Texas started one in June 2011; and the Oklahoma Corporation Commission held a public meeting in May 2011 to discuss the way forward in the Sooner State for energy conservation via prepaid electricity programs.

Fraudsters nailed, proactive security initiatives needed (7/15/2011)
In the wake of the failure of the Global Cyber-Crime Summit in London to agree on solutions to the growing seriousness of data theft, the secure data and online access security company IronKey Inc. is urging security professionals to immediately address the accelerating cyber-crime attacks around the world.

Federal Reserve sets debit interchange at 21 cents (7/15/2011)
A reasonable and proportional interchange transaction fee is 21 cents, plus a multiplier of 0.05 percentage points on the cost of every transaction to pay for fraud losses, according to a June 29, 2011, unanimous vote of the Federal Reserve Board of Governors. Also, an "interim rule" allows issuers to charge an additional 1-cent fee if they can "certify" they took measures over and above what would be expected to prevent fraud.

PayPal demonstrates P2P widget (7/15/2011)

On July 13, 2011, Laura Chambers, PayPal Inc.'s Senior Director of PayPal Mobile, introduced the company's new peer-to-peer (P2P) near field communication technology (NFC) service at VentureBeat's MobileBeat conference in San Francisco.



Is the new AmEx prepaid card a game changer? (7/13/2011)
The new Prepaid American Express Prepaid Card is being touted by the card brand as a game changer for the industry. With ever increasing scrutiny on the business practices of prepaid card companies, especially when it comes to the fees they charge consumers, the new offering from American Express Co. simplifies the fee structure and provides what the card brand believes is an unbeatable value proposition.

More regs, requirements from FFIEC, PCI council (7/13/2011)
Federal regulators updated their take on Internet security, and put bankers on notice that greater scrutiny of online banking security will begin with 2012 examinations. The Federal Financial Institutions Examination Council is an umbrella group that develops uniform examination practices and standards that span different types of financial institutions.

Industry self-policing: A lofty goal? (7/13/2011)

With government scrutiny of financial services intensifying and prospects of new regulatory oversight looming, talk of industry self-policing has assumed an added sense of urgency. But what is self-policing? How does it work? And can it work in merchant acquiring?




Global Blue Selects Hypercom Payment Solutions for Merchant Customers Worldwide (7/13/2011)
SCOTTSDALE, Ariz., and NEW YORK, NY / NYON, Switzerland, June 28, 2011 – Hypercom Corporation (NYSE: HYC) and Global Blue, the experts in international shopping, today announced that they are marketing Global Blue’s OneInterface™ payment integration tool and Hypercom’s payment systems to retailers around the world.


Visa: Durbin impact 'manageable' (7/12/2011)

"Visa is ready to compete in the new debit environment," Visa Inc. Chairman and Chief Executive Officer Joe Saunders declared in a recent investor conference. Visa, he said, is confident projected revenues for 2011 will remain status quo after the Federal Reserve implements its final rule capping debit card interchange fees.



Chain stores see high sales in June (7/11/2011)
Reuters reported that U.S. retailers should expect a strong June sales report due to bargains.

Discover fees under federal, state scrutiny (7/11/2011)
Discover Financial Services revealed in its July 2011 quarterly report that the Federal Deposit Insurance Corp. is investigating a fee-based, consumer protection-oriented product Discover markets to its cardholders. If the FDIC determines there is proof Discover improperly marketed and sold its fee-based product called Payment Protection, the company could face enforcement actions.

Mobile Transactions to Top $670 Billion By 2015, Research Firm Says (7/7/2011)
It’s easy to find dueling surveys, some of which say Americans will be slow to adopt mobile wallets and NFC-based payments, other which predict an ‘explosion’ in mobile payments, it would be hard to top the optimistic assessment from Juniper Research, which claims that the use of mobile phones for all kinds of financial transactions will top $670 billion in the next four years.

Appellate court declines to stop Durbin (7/7/2011)

A U.S. District Court on June 29, 2011 refused a request to issue a preliminary injunction to halt the Durbin Amendment capping debit card interchange fees. The U.S. 8th Circuit Court of Appeals affirmed the ruling of a lower court that Minnesota's TCF National Bank would likely not win an argument that the Durbin Amendment robs the bank of its Fifth Amendment due process and equal protection rights.



Visa sees debit card rules slowing growth in 2012 (7/7/2011)
Visa Inc. on Wednesday warned that its revenue and earnings growth will slow in 2012 after new regulations on the fees banks can charge for debit card transactions kick in.

Moviegoers Can “Get Loot” When They Purchase and Use a MasterCard Prepaid Card (7/7/2011)
MasterCard Worldwide today announced the launch of “Get Loot,” an entertainment-based program that offers U.S. consumers and avid movie fans the opportunity to experience the movies with friends and family like never before by using a MasterCard Prepaid card.




Fed announces final debit Interchange rules (7/7/2011)
At the Federal Reserve meeting today the final debit card rules where announced and the debit Interchange cap has been raised to 21 cents plus 5 basis points per transaction (not to exceed a sum of these two components).

TCF Drops Suit Against the Fed (7/5/2011)
Just a day after the Federal Reserve Board issued its final rules governing debit card swipe fees, TCF bank withdrew its lawsuit challenging the Fed and the underlying Durbin amendment language that required those rules.

Fed Adopts Swipe Fee Rule, But Raises Fee Cap and Extends Compliance Deadline (7/5/2011)
The Federal Reserve Board on Wednesday adopted the final debit swipe fee rule required by the Durbin amendment to the Dodd-Frank financial reform law, but nearly doubled the allowable swipte fee for most card transactions and extended key compliance deadlines to October 1.

PayPal head predicts mobile payment will replace wallets entirely (7/5/2011)
The president of online payment processor PayPal recently announced that the company had surpassed 100 million active accounts, taking the time to also forecast the death of the wallet.

Merchants angry over swipe fee changes (7/5/2011)
Retailers who process payments via point-of-sale terminals will not be seeing as much savings on swipe fees as the Durbin Amendment originally promised.

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