Wednesday, June 16, 2010

131 Lawmakers Call for Elimination of Debit Interchange Reform

Would affect Interchange Fees merchants pay on debit card transactions
* Grave concerns' the measure would harm consumers

 * Banks, credit unions also lobby to defeat the measure

WASHINGTON, June 16 (Reuters) - A bipartisan group of 131 lawmakers from the U.S. House of Representatives on Wednesday called for elimination of a financial reform amendment that seeks to reduce the interchange fees merchants pay on debit card transactions.

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Millions Snared in Web Fraud in U.K. with 3.7 BILLION Phishing Emails

More than 420,000 scam emails are sent every hour in the UK according to a report published today (2).
The study from life assistance company CPP estimates that Brits were targeted by 3.7 billion ‘phishing’ emails in the last 12 months alone (3). And a quarter of us admit to falling victim to e-fraudsters, with the average victim losing over £285 each (4).
Fake banking emails are the most common method used by criminals, with 55 per cent of those targeted receiving seemingly legitimate e-correspondence from high street banks.  Over half received false lottery or competition prize draws, while a further one in two was targeted by foreign cons such as the renowned “Nigerian 419 advance free fraud” scam.
And consumers must take caution, as latest industry figures show that online banking fraud rose by 132 per cent in the last 12 months. (5) In fact, nearly half of Brits (46 per cent) worry their card details could be used to make illegal online purchases.
Fraudsters are also exploiting the explosion of social networking sites and current defaults in privacy settings to target victims. Nearly one fifth of Brits have received phoney Facebook messages claiming to be from friends or family. One in 10 fear that fraudsters are using Twitter to follow them and a third are concerned their social networking account could be hacked.
It seems that anyone – no matter their level of expertise – can fall prey. (Editor's Note:  Thus educating consumers on the perils of phishing won't work if their level of expertise doesn't help them)

Tim Berners-Lee, creator of the World Wide Web fell foul to fraud after buying Christmas gifts online, which failed to show up. Movie-star Salma Hayek had her Apple MobileMe account attacked, and not even politicians are immune – Ed Milliband’s Twitter account was infiltrated by hackers who posted details of a fictitious sex life.
Commenting on the report, Nicole Sanders, identity fraud expert at CPP said: “It seems that not a day goes by without a new case of online fraud hitting the headlines. But what’s concerning is that consumers are still falling victim.
“Fraudsters are becoming ever more skilled in their techniques and tactics. It can be extremely difficult to spot a legitimate email from a scam, so we advise caution at all times when online. And as social networking sites become increasingly popular, people need to continue to be mindful of what they post. Their identity is as valuable to a thief as a credit card, so protecting personal details is key.”
Robert Schifreen, reformed computer hacker advises: “Staying safe online is easy if you follow some basic precautions.  Never type your credit card number, password, or any other confidential information into a web site unless its address begins with https and your browser displays the ‘closed padlock’ symbol.  These indicate that the site is safe and that your data is encrypted. (Editor's Note:  Not really...see SSL is SOL)  Also, make sure your antivirus software subscription is up to date and that your computer is configured to automatically download protective software.”  Editor's Note:  Up to date Antivirus Software doesn't help as Zeus bypasses it anyway.  
There is an online banking Trojan out there that is bypassing up-to-date anti-virus programs as much as 77% of the time, according to security company Trusteer. The Zeus Trojan is also known as Zbot, WSNPOEM, NTOS and PRG. It is the most prevalent financial malware on the web, Trusteer says. (Editor's Note:  Others say it's Clampi)  

CPP top tips to reduce the chances of falling victim to online fraud:

  • Install anti-virus protection which scans for viruses

  • Install anti-phishing tools which identify phishing emails that trick users into giving away personal information

  • Install an active firewall, which updates and upgrades automatically, preventing hackers from gaining access to your PC or laptop

  • Keep your personal information safe. If someone asks for your personal details online ask yourself why they would need them

  • Be aware that banks will never ask for your personal information online

  • If you are unsure whether an email is genuine, ring your bank and ask them

  • If you store personal information on your PC, install up-to-date security software

  • Remember the golden rule: identity thieves are experts at spotting an opportunity to steal your identity and all they need are a few personal details

  • On social networking sites, keep your privacy settings set to friends only and never display your address, phone number or date of birth

(1)   According to the latest figures from ONS (2009) 37.4 million adults have access to the Internet (76% of the population). According to the consumer research commissioned by CPP, 26% of Brits have fallen victim to online fraud with 48% of these in the last 12 months. 37,400,000 x 0.26 x 0.48 = 4,667,520 online victims in the last year.
Divided by 365 this amounts to 12787 victims a day. Divided by 24 works out as 532 victims an hour. Divided by 60 works out as 8.88 victims a minute. 60 divided by 8.88 = 6.7, which means one online victim every 7 seconds.
(2)   According to the latest figures from ONS (2009) 37.4 million adults have access to the Internet (76% of the population). According to the consumer research commissioned by CPP, 75% of Brits have received fraudulent emails/ Internet messages in the past 12 months. The average number of fraudulent emails is suspected to be 11 per month or 132 a year. 37,400,000 x 132 x 0.75 = 3,702,600,000 = over 3.7 billion. Divided by 365 (days), divided by 24 (hours) = 422,671 fraudulent emails per hour.
(3)   According to the latest figures from ONS (2009) 37.4 million adults have access to the Internet (76% of the population). According to the consumer research commissioned by CPP, 75% of Brits have received fraudulent emails/Internet messages in the past 12 months. The average number of fraudulent emails is suspected to be 11 per month or 132 a year. 37,400,000 x 132 x 0.75 = 3,702,600,000 = over 3.7 billion fraudulent emails per year.
(4)   According to the latest figures from ONS (2009) 37.4 million adults have access to the Internet (76% of the population). According to the consumer research commissioned by CPP, 26% of Brits have fallen victim to online fraud with 48% in the last 12 months, and the average sum lost is £289. 37,400,000 x 0.26 x 0.48 x 289 = 1,348,913,280 = over 1.3 billion in online fraud losses.
(5)   Figures from the UK Payment’s Administration report: ‘Fraud – The Facts’ 2009 - 
Research Methodology
Research was carried out online by ResearchNow among 2,007 UK adults between 23 and 30 April 2010.
Enhanced by Zemanta Launches, A New Corporate Rewards and Incentive Company Offering

PR Newswire logoImage via Wikipedia
PITTSBURGHJune 15 /PRNewswire/ --, one of the leaders in consumer gift cards and Corporate Incentive and Rewards cards, announced today that it is launching, Wolfe Rewards & Loyalty. will focus exclusively on corporate reward and incentive programs while will continue to serve the consumer market. provides full service prepaid solutions and technology for corporate programs including consumer loyalty, rebates, employee recognition and retention. "We work with each client to understand their program goals, identify additional opportunities based on our past experiences, and tailor a solution that will drive the most impactful and cost efficient reward," stated Jason Wolfe, CEO of  The company is partnered with Visa and MasterCard to offer a wide variety of prepaid cards that can be fully branded and personalized. controls 100% of the printing, fulfillment, customer service and technology due to its partnership with their sister company, Omni Prepaid.  This enables the company to provide a greater level of branding, customization and speed to market for a reward or incentive program.   Their Print-on-Demand solution offers corporate clients more flexibility to provide fully customized cards to their employees and customers within days with no inventory costs or minimum commitments.
"We believe that providing a customer or employee with a reward is an opportunity to enhance that relationship, and our solutions provide multiple branding and communication touch points in order to do so," stated Wolfe.
The new web site, Wolfe Rewards and Incentives, will continue to offer Print-on-Demand production for prepaid Visa and MasterCard cards to its corporate clients. In addition, offers customizable greeting cards with the prepaid card enclosed for a more professional looking promotion.
About, LLC, owned by, is a leading provider of gift cards to consumers and corporations to expend as gifts, rewards, or incentives. currently services thousands of corporations for their gift card needs including 25% of the Fortune 1,000. was founded in 1999.  For more information visit:
About WRL, LLC
WRL is owned by and provides reward and incentive program solutions for companies of all sizes. We have worked with over 5,000 companies since 2004 for employee and customer focused programs including safety awards, health   wellness incentives, sales spiffs, rebates, customer appeasement, retention, recognition, and general gifts. Our core product is an open-loop Visa or MasterCard reward card that can be branded with our clients' logo. We pride ourselves in fast turnaround, multiple branding options, and utilizing our technology to drive additional actions or awareness to our clients' brand.

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Card Fraud Losses in the U.K. Over the Last Ten Years

Our Chip and PIN Card Reader Would Vastly Reduce Internet Fraud
"The payments industry recognises that the fight against fraud must be a long term commitment. The success of chip and PIN in driving down the use of stolen and counterfeit cards on the UK high street has driven the fraudsters to move to different types of attack. The two main areas of fraud in 2008 were on transactions not protected by chip and PIN: specifically internet, phone and mail order fraud; and fraud abroad - committed by criminals using stolen UK card details in countries yet to upgrade to chip and PIN. We have also seen fraudsters return to more traditional channels such as cheque fraud, whilst at the same time becoming increasingly sophisticated in the way they dupe the public into parting with personal financial details in order to take over accounts. Tackling all these types of fraud remains our priority, whether it be through work we undertake with the Fraud Control Unit on behalf of the industry, via law enforcement through the Dedicated Cheque andPlastic Crime Unit, working with other agencies like the National Fraud Authority, or by sharing fraud intelligence within and beyond the industry."
Katy Worobec, APACS Head of Fraud Control

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Network Branded Prepaid Card Association Enters Fifth Membership Year, Appoints New Chairman of the Board, Board of Directors

Amidst legislative and public education milestones, Association renews commitment to promoting exceptional consumer experiences with prepaid cards

MONTVALE, N.J., June 16 /PRNewswire/ -- The Network Branded Prepaid Card Association (NBPCA), a non-profit trade organization that works to enhance the environment for the success of network branded prepaid cards, is now entering its fifth membership year. The NBPCA has grown to become the leading organization bringing together responsible members of the prepaid industry to provide a fact-based voice to media, government and consumers, developing recommended best practices and promoting education to help consumers optimize their experience with network branded prepaid cards. At the Association's annual Board meeting held June 8th, Jon Palmer, CEO of FSV Payment Systems, was elected the new Chairman of the Board. Palmer will assume the role July 1 and brings more than 35 years of experience in the electronic payments and financial services industries, having led several companies to significant growth and prominence including Vital Processing Services and Wellspring Resources. Also a highly regarded commercial banker, Palmer served as Vice Chairman with Fidelity Bank and also as Chief Retail Banking and Technology Executive of Barnett Banks.

"I am honored that my colleagues on the NBPCA Board have elected me to serve as chairman for the next year," said Palmer. "Under Gary Palmer's chairmanship last year the NBPCA made great strides in becoming a more effective voice for prepaid with legislators and regulators in Washington and in many states, as well as in the press. The organization also significantly helped NBPCA members succeed in this challenging economic, political, and regulatory environment. I plan to do my best to build on that great momentum."

The NBPCA Board of Directors for the upcoming year was elected by the Membership at a meeting on May 26th. Board Members include Anil Aggarwal, TxVia; Farhan Ahmad, Discover; Marilyn Bochicchio, Paybefore; Rod Boyer, TSYS; Todd Brockman, Galileo; Ralph Calvano, FIS; John Chaney, PreCash; Alpesh Chokshi, American Express; Brad Fauss, Springbok Services; John Hagy, Meta Bank; Jeff Johnson, First Data; David Josephs, JPMorgan Chase & Co.; Andrew Kese, Citi Prepaid;Jeremy Kuiper, The Bancorp Bank; Gary Palmer, NBPCA Founding Director; Rick Pileggi, US Bank; Scott Qualls, BB&T; Talbott Roche, Blackhawk Network; Skeet Rolling, InComm; Bill Salter, Capital One; Steve Streit, Green Dot Corp.; Michele Sullender, Simon Property Group and Carrie Vriheas, Visa.

NBPCA Officers re-elected by the Board included Kirsten Trusko, NBPCA President and Executive Director, Michelle Sullender, Secretary and Juli Spottiswood, Treasurer.

The NBPCA has met significant milestones in support of its mission over the past year, including:
  • Educated a broader group of media about critical legislative issues affecting prepaid cards such as security and cross-border issues, the final gift cards rules and fees. These expanded efforts resulted in media coverage that increased more than 300 percent over the previous year.

  • Developed relationships with more than a dozen third party groups as a new avenue to promote prepaid as a smart financial tool for consumers.

  • Created five research surveys and four white papers to provide additional data and context to members of the media and lawmakers.

  • Worked closely with key legislators and regulators on a host of policy issues including deposit taking, federal preemption, anti-money laundering and the CARD Act transition.

  • Initiated grassroots initiatives to mobilize parties interested in prepaid issues on the Hill; the campaigns generated more than 2,000 letters.

  • Welcomed 23 new members, growing total membership to 56.

"The NBPCA has grown into a respected guiding force in the prepaid card landscape, promoting an effective climate for network branded prepaid cards that encourages competition, access and a positive consumer experience," said Kirsten Trusko, NBPCA President and Executive Director.  "As we grow into our fifth membership year we will continue to focus on influencing positive legislative and regulatory outcomes on issues critical to ensuring consumer access to prepaid, along with ensuring that fact-based information about prepaid circulates in the media and marketplace."
About the NBPCA
The Network Branded Prepaid Card Association (NBPCA) is a non-profit, inter-industry trade association that supports the growth and success of network branded prepaid debit cards and represents the common interests of the many players in this new and rapidly growing payments category. For additional information, visit
SOURCE Network Branded Prepaid Card Association

CUSI Selects Capital Payments to Implement E-Commerce Solutions for the Utility Industry

MELVILLE, N.Y.June 16 /PRNewswire/ -- Continental Utility Solutions, Inc. (, a leader in the utility billing software industry, joined forces with Capital Payments. CUSI now offers clients an electronic payment solution geared specifically for the utility sector. Capital Payments' integration provides competitive access to Visa®/MasterCard® programs for utility companies looking for ways to reduce expenses and automate operations. The partnership is a distinct advantage for utilities who are aggressively improving customer service.

Electronic cash flow management is a new opportunity for CUSI customers to access hidden assets.  With Capital Payments as a service provider, CUSI customers have exclusive access to optimal interchange levels and specialized programs that Visa® and MasterCard® offer to the utility sector. Lowering the cost of electronic payment processing can free cash flow which may be hidden in the walls of customer service operations. CUSI customers that use Capital Payments will improve visibility and manageability of previously overlooked payment processing costs.
"Capital Payments is an ideal partner for us," stated Michael F. Guerriero, CEO of CUSI. "Today, there is a renewed focus on ground floor business functions to help reduce costs and drive a healthy cash flow. The initial results are impressive in terms of product quality, service and ease of use and we are excited that Capital Payments' electronic payment options are so flexible. Our experienced teams will work cohesively together to deliver a significant impact to the bottom line to our clientele base."
Todd S. Whiton, President and CEO of Capital Payments said, "We are delighted to have the opportunity to work with CUSI in helping them and their clients navigate through the ever increasingly complex world of electronic payments. CUSI is a recognized leader in providing Utility Billing Applications. Capital Payments suite of state of the art payment solutions will complement CUSI's vision of providing the industry's leading and most comprehensive solution for Utilities throughout the United States. Their status as a Trusted Advisor to their clients is a true complement to our business model."
About CUSI
CUSI has provided utility billing software to the public sector since 1984 and currently has over 900 customers around the world. Visit or call 1-800-240-1420.
About Capital Payments, LLC
Capital Payments is a leading provider of merchant and electronic payment solutions.  The company is uniquely focused on working with Trusted Advisors to help them navigate their business clients through the increasingly complex world of electronic payments.  The company provides transparent and competitive pricing, very fair terms and conditions, and best of breed payment products and services to its merchants.  Capital Payments is led by industry veterans with decades of experience in working with small and midsized businesses and their CPAs, Accountants, Attorneys, and other trusted advisors.  For more information, please visit

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Hearing Shows Credit and Debit Swipe Fees Cost Federal Government and Taxpayers $116 Million

WASHINGTON--(BUSINESS WIRE)--The National Retail Federation said a Senate hearing today on the $116 million in credit and debit card swipe fees paid annually by the federal government is further evidence of the need to bring card fees under control.

“These numbers show that not even the federal government is immune from the credit card industry’s power to skim profits off the top of every transaction that takes place on plastic”
“These numbers show that not even the federal government is immune from the credit card industry’s power to skim profits off the top of every transaction that takes place on plastic,” NRF Senior Vice President and General Counsel Mallory Duncan said. “The swipe fees that the card industry imposes on private industry retailers and their customers are bad enough. But swipe fees charged to the government are ultimately paid by taxpayers, even those who don’t hold a credit card. That means swipe fees are not only driving up prices for consumers but driving up taxes as well.”
“There’s a clear parallel here where the card industry sees retailers and their customers as well as the government and taxpayers as huge sources of revenue,” Duncan said. “Congress needs to bring these fees under control for both groups.”
Senate Majority Whip Richard Durbin, D-Ill., is scheduled to hold a hearing on swipe fees charged to the government this afternoon in his role as chairman of the Senate Appropriations Committee’s Subcommittee on Financial Services and Government. Witnesses are expected to include officials from the Treasury Department, Government Accountability Office, Amtrak and Visa. Also testifying will be a convenience store owner and consumer group representative emphasizing the need to address private sector interchange fees.
The hearing is expected to focus on a Treasury report released Monday showing that while the federal government accepts few card payments relative to its size, agencies nonetheless received more than 80 million credit and debit card payments for goods, services, fees and fines totaling $8.6 billion last year. The government paid more than $116 million in swipe fees, making plastic its single most-expensive form of collecting payment. The figures do not include the millions of credit and debit card payments accepted by the U.S. Postal Service.
Swipe fees – officially known as interchange fees – are a percentage of the transaction charged by card company banks each time a card is swiped to pay for a transaction. The fees average between 1 and 2 percent for debit cards and 2 percent or more for credit cards. Overall swipe fees charged to retailers and other business by Visa and MasterCard banks totaled $48 billion in 2008 and resulted in higher prices estimated at $427 for the average household.
Like retailers, the government is subject to a wide and complicated range of interchange rates depending on the type of transaction (sale of goods, loan repayments or fines, for example), the level of rewards points provided to the cardholder, and whether the card is present or not present (as in Internet transactions).
The Treasury report proposes that the government negotiate with card companies for a single percentage to be charged for all credit card transactions, and for a flat fee to be charged for all debit card transactions. The report also proposed a $10,000 limit on the size of transactions that could be accepted via cards, saying checks or other forms of electronic transactions would be cheaper for big-ticket transactions. Officials also want to bar the card industry from unilaterally raising fees or establishing new fees. Treasury estimated that the changes could reduce interchange costs between $35 million and $42 million, or about one third.
While today’s hearing is focused on federal costs, state and local governments across the country are also concerned about rising swipe fees. The City of Chicago alone, for, example, recently reported that it paid $7.5 million last year.
The hearing comes as a House-Senate conference committee is negotiating the final version of financial services industry reform legislation. The Senate version of the bill includes an amendment sponsored by Durbin that would require the Federal Reserve to set regulations that would result in “reasonable and proportional” swipe fees for debit cards that take into account banks’ actual costs for processing the transactions and the fact that paper checks drawn on the came accounts are paid at face value. The amendment would also make it easier for merchants to offer discounts or other benefits for customers who don’t use credit cards, and to set minimum purchase amounts for credit cards.
As the world's largest retail trade association and the voice of retail worldwide, NRF's global membership includes retailers of all sizes, formats and channels of distribution as well as chain restaurants and industry partners from the United States and more than 45 countries abroad. In the United States, NRF represents the breadth and diversity of an industry with more than 1.6 million American companies that employ nearly 25 million workers and generated 2009 sales of $2.3 trillion.


National Retail Federation (NRF)

J. Craig Shearman, 202-626-8134

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Encore Payment Systems Selects PAX as Preferred PIN pad Provider

Encore Payment Systems recently selected PAX Technology, Inc. as its preferred provider for PCI PTS compliant PIN pads.

Addison, TX (PRWEB) June 16, 2010 -- Addison, TX based Encore Payment Systems,, a leader in the electronic payment processing industry, recently selected PAX Technology, Inc. as its preferred provider for PCI PTS compliant PIN pads.

“We are very pleased with the ease of deployment and reliability we have experienced with the SP20,” said John Crouch, CIO, Encore Payment Systems. “Many of our merchants are faced with upgrading and adding new PIN pads to meet the July 1, 2010 deadline for Triple DES encryption and the PAX SP20 allows us to do this without changing our existing procedures and at a significant cost savings that our customers appreciate.”

The SP20 will now be included in the Encore Clear Advantage Secure Payment System, an ideal payment system for small to medium-sized businesses, combining the latest technologies with a user-friendly, convenient design. With Clear Advantage, business owners can process a variety of different payment types, and with its small footprint ensure that only a minimal amount of counterspace is used.

The SP20 PIN pad is rugged and well designed with a privacy shield and easy to use PIN pad. It is PCI 2.x compliant, making it a secure and compliant solution into the year 2017. The SP20 PIN pad easily integrates into existing POS terminals allowing merchants to become compliant with as little change as possible.

“PAX offers a complete range of POS solutions including PIN pads, countertop, mobile handheld and multi-lane terminals,” said Michael Mulcahy, PAX President & CEO. “We are very pleased Encore Payment Systems has selected us as a preferred provider of such an important part of their solution and we are looking forward to continuing to provide reliable and cost-effective solutions to Encore in the future.”

About Encore Payment Systems

Encore Payment Systems, LLC is a fast growing merchant acquirer that specializes in providing small and medium-sized businesses throughout the United States with comprehensive electronic transaction processing solutions. Encore distributes and installs point-of-sale equipment and offers traditional credit and debit card processing services as well as processing for ATM cards, gift and loyalty cards, prepaid cards, EBT, checks and e-commerce solutions. Encore also proudly offers 24 hour technical support.

For further information, please visit Encore Payment Systems online at

About PAX Technology Limited

PAX is a global leader in providing secure electronic payment systems. The company has been serving the global payments marketplace since 2001 and is now one of the largest POS manufacturers in the world. In 2008, PAX ranked 8th in terms of annual shipments for POS vendors, according to The Nilson Report. With shipments over 264,000 units in 2008, PAX is the fastest growing POS terminal manufacturer of the top 25 worldwide. In 2009, PAX opened their North American office and offers a complete range of POS solutions including PIN pads, countertop, mobile handheld and multi-lane terminals and contactless readers.

China UnionPay Co Ltd In Consumer Finance - World - New Company Profile Published

QQ VIP信用卡Image by Qiao-Da-Ye賽門譙大爺 via Flickr
Published on June 16, 2010 by Press Office ( and OfficialWire) LONDON, ENGLAND

Global number three financial card operator China UnionPay is on the brink of breaking the long-standing Visa/MasterCard duopoly. Aggressive international expansion is proving vital. Domestic m-commerce technology and credit card category development could give the state-controlled company yet more power.

China UnionPay Co Ltd in Consumer Finance company profile offers detailed strategic analysis of the company's business, examining its performance in the consumer finance market. The report examines company shares by region and sector, brand portfolio and new product developments, market and distribution strategies, challenges from the competition and future prospects. Use it to understand opportunities and threats facing the business and the factors driving success.

Why buy this report?

* Get a detailed picture of the consumer finance industry;

* Pinpoint growth sectors and identify factors driving change;

* Understand the competitive environment, the market's major players and leading brands;

* Use five-year forecasts to assess how the market is predicted to develop.

We have over 30 years experience of publishing market research reports, business reference books and online information systems. With offices in London, Chicago, Singapore, Shanghai, Vilnius, Dubai, Cape Town and Santiago and a network of over 600 analysts worldwide, We have a unique capability to develop reliable information resources to help drive informed strategic planning.

Table of Contents

Scope of the Report

Strategic Evaluation

Competitive Positioning

Market Assessment

Category and Geographic Opportunities

Brand Strategy



Mike King

Tel: +44 (0) 2030868600

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Bling Nation Brings Tap and Pay Mobile to Valley National Bank Customers

Valley National Bank Invigorates Local Shopping With Tap-and-Pay at Point of Sale

http://www.blingnation.comCustomers and Community Win with Mobile Payments from Bling Nation
LAMAR, Colo.--(BUSINESS WIRE)--Valley National Bank is now offering mobile payments to its customers and community with partner Bling Nation, a provider of mobile payments services that connect financial institutions, businesses and consumers through tap-and-pay for purchases at the point of sale.
“Local businesses are also embracing the convenience and security of mobile payments as well as a drastic dip in fees as a result of bypassing global payments networks with Bling Nation”
“At Valley National Bank, we are dedicated to serving and supporting our local economy,” said Denise Carder, marketing director for Valley National Bank. “In our efforts to keep dollars local, we have partnered with Bling Nation to share the benefits of mobile payments – more convenience, security and rewards – with our personal and business customers.”
Customers with a checking account at Valley National Bank can easily sign up for a BlingTag™, a quarter-sized microchip sticker that adheres to the back of their mobile phone to enable debit transactions directly from their account. Each time a purchase is made using a BlingTag, the consumer receives a transaction confirmation and account balance by text message. Since the BlingTag does not store any personal information, it offers more security than traditional plastic cards and reduces the risk of identity theft and fraud.
In addition to the convenience and safety of mobile payments, day-to-day purchases can be more rewarding with a BlingTag. Valley National Bank customers receive instant five percent cash back with every Bling transaction up to $100. For consumer Ed Bennett, cash back means shopping for groceries and filling up his car costs him less.
“Not only is my BlingTag more convenient than digging in my wallet for cash or a card,” said Bennett, a customer of Valley National Bank, “but each purchase creates instant savings. I look for businesses with Bling signs in the door and tap-and-pay as often as I can.”
“Local businesses are also embracing the convenience and security of mobile payments as well as a drastic dip in fees as a result of bypassing global payments networks with Bling Nation,” said Rod Stambaugh, general manager, West region for Bling Nation. “It is in business’ best interest – both financially and from a customer service standpoint – to accept mobile payments at the point of sale. Like Ed, many consumers specifically seek out Bling businesses to spend their money.”
“Bling Nation not only helps us better serve our customers and community, but it also truly simplifies the multi-step payments process, a process,” Carder admits, “that is not as efficient, convenient, secure, or rewarding as mobile payments.”
About Valley National Bank
Valley National Bank (a Branch of Girard National Bank) is a community bank, which has been family owned and operated for more than 90 years. Bank employees are committed to providing customers with the highest quality financial services in a friendly and personal way from personal to business and mobile banking. For more information about product and services,
About Bling Nation
Bling Nation mobile payment services connect local financial institutions and businesses, allowing customers to use their mobile phones to tap and pay for purchases and receive text account balance and transaction confirmations at the point of sale. Businesses and financial institutions eliminate payment processing middlemen, while differentiating their services and supporting community “shop local” programs. For additional information, visit or follow us at


For Bling Nation

Joy Harper, 678-781-7208


Elizabeth McMillan, APR, 678-781-7224

Walmart Invests in Debit Card Seller Green Dot

Green Dot CorporationImage via Wikipedia
Published: June 16 2010 - Financial Times

In an article published today in the Financial Times, they report that Walmart is "Extending it's Banking Interests"

Walmart has taken an equity stake in a rapidly expanding US financial company, in a move that may also give the largest US retailer an indirect link to a small commercial bank. Green Dot, which provides support for Walmart’s pre-paid cards, said this month that it had issued more than 2m shares to Walmart, following an agreement in May that extended the existing alliance between the companies until 2015. Green Dot is also seeking federal and state approval to acquire its own bank, having reached agreement in February to acquire Bonneville Bank, a small Utah-based commercial bank, for $15.7 mi... <<read more>>


(Reuters) - Wal-Mart Stores Inc WMT.N) has taken a minor stake in the prepaid debit card seller Green Dot Corp in a move that would give the U.S. retail giant indirect access to the U.S. financial space

. <<read more>>

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