Friday, June 17, 2011

Bankers Say Debit Card Customers "Stand" to Lose the Most

The "Dick" Durbin Amendment is yet another example of how "government regulation" can backfire in a hurry. We've all heard about rumors of banks introducing "annual fees" and/or "per use fees" for debit card use...along with the elimination of "debit rewards" and "free checking."  Today, the Phoenix Business Journal is reporting that one of the other options being considered is "eliminating the cards altogether."  Whether it is a ploy to help banks win their case in a court of law (see Wall St. Journal: Banking Industry Girds for Debit-Card War in Court) or not, it demonstrates the lack of foresight by these "weiners" in office. (albeit there's one less after our cross dressing/penis flashing friend from NY resigned yesterday)

Date: Friday, June 17, 2011, 3:00am MST
"If debit card spending limits become a reality, bankers say users ultimately will pay the biggest price.  Banks already are looking at ways to replace the revenue lost by the interchange fee cap. Options being debated include limiting the dollar amount customers can pay by debit card, issuing an annual fee for debit card use, and eliminating the cards altogether. Some banks also are talking about doing away with rewards programs, citing a lack of incentive."  read more

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Global Payments Announces Year-End Earnings on July 21, 2011

Image representing Global Payments as depicted...Image via CrunchBase
ATLANTAJune 16, 2011 /PRNewswire/ -- Global Payments Inc. (NYSE: GPN), a leader in payment processing services, will release year-end fiscal 2011 financial results after the market closes on July 21, 2011.
Global Payments' management will host a conference call for investors to discuss these results at 5:00 p.m. EDT on Thursday, July 21, 2011.  Callers may access the conference call via the Company's Web site at by clicking the "Webcast" button; or callers in North America may dial 1-888-895-3550 and callers outside North America may dial 1-706-758-8809.  The pass code is "GPN."  A replay of the call may be accessed through Global Payments' Web site through August 5, 2011.
Global Payments Inc. (NYSE: GPN) is a leading provider of electronic transaction processing services for merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United StatesCanadaEurope and the Asia-Pacific region. Global Payments, a Fortune 1000 company, offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. Visit for more information about the company and its services.

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NFC News Roundup

  1. NFC will be worth the wait, analysts say

    Computerworld - Matt Hamblen - 4 hours ago
    ... for up to three years for Near Field Communication (NFC) chips to be widely available on smartphones in the US, Starbucks executive Chuck Davidson said. ...
    NFC will be worth the wait, analysts say‎ - Computerworld New Zealand
    Starbucks prefers old-fashioned barcodes to NFC payments‎ -
    all 13 news articles »
  2. QR Codes: Dead End or On-Ramp?

    ClickZ News - 2 hours ago
    In a recent Ad Age article, Dave Wieneke argued that QR codes are a dead-end, transitional technology, to be quickly replaced by near field communication ...
  3. Sony Ericsson to launch Android NFC phones

    Ubergizmo - George Wong - 18 hours ago
    NFC (Near Field Communication) is an up and coming technology in the US but at the moment there aren't many phones on ...
    Sony Ericsson NFC enabled Android smartphones on the way?‎ - Gadget Helpline (blog)
    Sony Ericsson Xperia lineup to get NFC enabled Android smartphones‎ - (blog)
    Sony Ericsson signs deal with NFC chip maker. (PR)‎ - IGYAAN
    Phones Review
    all 49 news articles »  GOOG - NXPI (blog)
  4. Scandinavian Smart Pass launched - 3 hours ago
    The new pass – which used the same "near field communication" (NFC) technology as London's Oyster card - will make the airport experience for visitors to ...
  5. Vodafone, O2, Everything Everywhere Enter Joint Venture, Aim NFC ...

    ITProPortal - Ravi Mandalia - 10 hours ago
    ... O2 and Everything Everywhere has joined forces with the view of making the NFC (Near Field Communication) technology in phone available for masses. ...
    Joint NFC venture from Vodafone, O2 and Everything Everywhere‎ - (blog)
    NFC coming to the UK as major networks join forces‎ - T3
    Mobile phone firms team up to develop 'wave and pay' system‎ - The Guardian
    ZDNet UK Financial Times (blog)
    all 116 news articles »  LON:VOD - ETR:DTE
  6. Zacks Industry Outlook Highlights: Google, eBay and Citigroup

    PR Newswire (press release) - 1 hour ago
    While the near-field communication (NFC) technology used in the system is already in use in some parts of Europe, the concept is relatively new to the US ...
     GOOG - C
  7. RFID News Roundup

    RFID Journal - 17 hours ago
    Avery Dennison RFID, a provider of ultrahigh-frequency (UHF) RFID inlays, has introduced its N-Zone line ofNear Field Communication (NFC) RFID inlays, ...
     RFMI - TYC
  8. Global mobile software market is set to reach nearly $80 billion ... Business News - 9 hours ago
    ... Money Transfer, Mobile Browsing, Mobile Health Monitoring, Mobile Search, Near Field CommunicationServices, Mobile Payment, Mobile Instant Messaging, ...
  9. SAS to launch new mobile NFC solution

    sQuidcard - 23 hours ago
    Scandinavian Airlines (SAS) is launching a new SAS Smart Pass using near field communication (NFC) technology to help its customers move through airports 

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