Thursday, October 13, 2011

Marijuana, Inc. sees Pot-ential, Has High Hopes for Loyalty Card

SOURCE: Marijuana, Inc.
October 13, 2011 04:40 ET

Marijuana, Inc. Funds and Brings to Market the Eco-Harmony Loyalty Card

LAS VEGAS, NV--(Marketwire - Oct 13, 2011) - Marijuana, Inc. (PINKSHEETSHEMP) is proud to announce the launch of the Eco-Harmony Loyalty Benefits and Rewards Card. After more than two years in development, at a cost of over $1.2 million dollars, The Eco-Harmony Loyalty Benefits and Rewards Card targets cultural creative merchants and consumers from a wide variety of industries, and is now in beta test at a high end retail boutique in the San Francisco Bay area. Aggressive marketing of the card will commence this quarter.
CEO Bruce Perlowin stated, "I am particularly proud of the fact that the first product we created and launched into the marketplace has already generated revenues, and is earning income for our company and shareholders, while also helping the planet."
ABOUT THE ECO-HARMONY LOYALTY BENEFITS AND REWARDS CARDThe Eco-Harmony Loyalty Benefits and Rewards Card ( under construction) offers the cardholder discounts, rebates, and daily deals, regardless of how the consumer pays; whether in cash, check, credit card or debit card. On each qualified transaction a percentage of the rebates go back to the charity of the cardholder's choice, enabling consumers to contribute to schools, churches, ecological organizations, and other social causes to help better the world.
ABOUT MARIJUANA, INC.Marijuana, Inc. (PINKSHEETSHEMP) will focus on the peripheral businesses created by the quickly emerging multibillion dollar medical marijuana and hemp industries.
Marijuana, Inc. will not be involved in cultivating, transporting or marketing medical marijuana until Federal legalization and/or rescheduling of marijuana -- however it will be creating an infrastructure to do parts of this upon the end of marijuana prohibition.
CEO Bruce Perlowin stated, "One of our goals is to help provide the business tools, technologies and mindset to incorporate the emerging medical marijuana industry into mainstream commerce as it is destined to be; from education and training to creating unique and advanced technologies applicable to this and other industries." ( under construction).
President David Tobias continued, "We're in the right place at the right time, and have the right experience to take advantage of an industry that's been around for thousands of years and is rapidly emerging as a new economic force. Over the past few years it has become apparent that new products and services entering the marketplace provide a unique opportunity for a vast array of business ventures. We will be reviewing potential targets in this arena for acquisition or development over the coming weeks and months."

Mobile Payments Meet Loyalty. Time to LevelUp!

October 12, 2011 11:00 ET
SCVNGR Team Rolls Out LevelUp Nationally
CAMBRIDGE, MA--(Marketwire - Oct 12, 2011) - LevelUp, the smarter way to pay from the team that powers SCVNGR, today announced that it's doubling its cities and bringing LevelUp goodness coast-to-coast, along with a brand new app for iPhone and Android.
So what is LevelUp? Well. It's something utterly awesome: a new mobile solution that brings loyalty, rewards and payments together in one seamless system for merchants and consumers.
In English, please? Sure. LevelUp is the smarter way to pay. Pay with your phone. Save time. Save money. It works at hundreds of merchants in Boston, NYC, SF and Philly.
Where did it come from? LevelUp initially rolled out in March with the mission of solving the loyalty/repeat customer void in the burgeoning daily deals space. Its first version was all about unlocking progressive deals to encourage repeat traffic. The pilot program in the Boston and Philadelphia markets went great, but not quite great enough. But like most pilots, version 1 yielded some amazing intelligence. For us, that was some important insight into the way businesses create and maintain loyalty in a social, mobile world.
We've tinkered with that data to publicly unveil the next generation of LevelUp. It's been in pilot mode in Boston and Philly for the last eight weeks and, in short, it rocks the house.
"The deals-rewards space still lacks one huge value proposition for merchants: the tools and insight to know whether or not their marketing efforts are actually creating new, loyal customers," said Seth Priebatsch, Chief Ninja at LevelUp and SCVNGR. "Instead of hoping -- but not knowing -- that an incentive brings a customer back again, LevelUp brings the loyalty and transaction together, and empowers merchants to reward customers, both new and repeat, for their business."
Anyone with an iPhone or Android can download the app, link their favorite credit or debit card to LevelUp and, well, that's it. Just go to any merchant and pay with LevelUp. Your personal QR code gets scanned and a second later you'll get an instant push notification and email receipt.
At each business, you'll start with credit (think: free money) to spend on whatever you want. No buying deals or clipping coupons. The money's just there, waiting for you. Just pay with LevelUp and it gets automatically applied.
Even better, whenever you go back, keep paying with LevelUp and you'll not only be the coolest kid in town (paying with my phone #welcometothefuture), you'll also progress towards unlocking even more credit to spend on whatever you want at that business.
Sound sweet? Join LevelUp for free and leave your wallet at home:
Merchants of any size can join LevelUp, also for free. Just give us a shout and you'll be live in no time.
Accepting LevelUp as a form of payment is simple. Just download the LevelUp Merchant App, or get one of the LevelUp terminals for your counter.
Everything else is taken care of. Your customers can now pay with their phones and you can track their progress towards unlocking your rewards in real-time. Think of it like a seamless and mobile version of the sandwich punch card. But in this case, the loyalty is the payment method.
Even better, you'll be able to watch your business grow. Learn about your customers, keep them engaged and attract new ones. And, you'll save on payment processing fees when people pay with LevelUp instead of their credit/debit cards. (It's magic -- ask us about it.)
Show Me The Numbers:LevelUp's pilot program has seen hundreds of merchants sign up in Boston and Philadelphia because of its overwhelming success in creating real repeat business:
  • 45% of all customers return to LevelUp merchants to pay full price within 30 days.
  • 65% of customers at LevelUp's quick-service restaurant merchants return and pay full price within 30 days.
  • The average LevelUp customer increases their spend by 38% on the transaction in which they unlock the next level of credit.
  • The average LevelUp user is already using it about twice a week and that's trending up... fast.
  • The average LevelUp user tips 21% at sit-down restaurants. (Waiters of the world, rejoice!)
"Freakin sweet!" added Seth.
We're Really Excited About ThisWith today's launch, we're creating the best way to try new places and get rewarded for going back to the ones you love. We're creating a new model for the local loyalty economy. And it's awesome.
About LevelUpLevelUp is the smarter way to pay. Pay with your phone. Save time. Save money. It's 100% free and easy to use. Get started at
For merchants, LevelUp is like a high-tech loyalty program, meets mobile payments, meets customer analytics cornucopia of awesome-sauce. Learn more at
SCVNGR + LevelUp is funded by Google Ventures, Highland Capital Partners and Balderton Capital.

eBay Inc.’s New X.commerce Open Commerce Ecosystem Now Includes Technologies from Magento, Milo, RedLaser and Zong

SAN FRANCISCO--(BUSINESS WIRE)--At its Innovate Developer Conference 2011, eBay Inc. announced that X.commerce, the new open commerce ecosystem that connects developers and merchants by offering a complete collection of commerce capabilities, has added a wide range of technology assets from the eBay portfolio. These new technologies complement the existing assets from the eBay Marketplaces division and PayPal, as well as the Magento technologies that form part of X.commerce.

“Consumers are adopting new technologies that are changing the way they shop”
X.commerce offers the ecosystem developers need to create new solutions to meet today’s social, local, mobile and digital-driven commerce. In a single, flexible and open environment, X.commerce provides the perfect foundation to develop the technologies required for commerce, such as shopping carts, payment services, inventory management, marketplace integrations, SEO and tax management.
The technology assets in the eBay Inc. portfolio collectively represent the most robust, scalable, commerce platforms currently available in the retail industry. They offer developers the opportunity to create new applications and capabilities that play perfectly into evolving consumer shopping practices. These assets, which will be available on X.commerce, include:
  • Magento, the feature-rich, open-source e-commerce solution, launched a new version of Magento Connect: The Magento Extension Marketplace. The new offering enables developers to generate additional revenue by easily creating and offering extensions to the rapidly growing customer base for Magento Go, the SaaS solution introduced in March of 2011. Magento Connect, already the largest vertical e-commerce application marketplace in the world, now enables merchants using any version of Magento to more easily customize and enhance every area of their storefront and back end, including integration with other web services.
  • The newly opened API from Milo allows developers to create apps that localize the benefits of online shopping by searching the inventory of local stores in real-time. With Milo, developers everywhere can harness the power of local commerce for their app or website.
  • RedLaser, the free barcode scanning application for mobile comparison shopping, is previewing a new iOS application offering a refreshed look and new features. Available in time for the holiday shopping season, RedLaser 3.0 brings to the X.commerce ecosystem the ability to research, shop and buy locally through the first integration of eBay Inc.’s top mobile APIs – Milo local, PayPal Mobile Express Checkout and RedLaser.
  • With thousands of apps already available on the Android Market, Zong’s SDK makes it easier for developers to get paid on the Android platform. X.commerce developers can quickly implement Zong as a payment option into their Android app, allowing users to pay with a mobile phone number and pin—without ever leaving the app.
  • The eBay Mobile iOS SDK will be available soon to developers in the X.commerce ecosystem who have an eBay Developer Program account. The iOS SDK will contain APIs to help developers build mobile apps specifically designed to enhance the eBay selling and buying experiences.
For more information go to Like us on Facebook and follow X.commerce on Twitter: #Innovate2011@X_commerce.
Supporting quotes:
“Consumers are adopting new technologies that are changing the way they shop,” said Matthew Mengerink, Vice President and General Manager, X.commerce. “X.commerce gives merchants the ability to keep pace and deliver new and innovative shopping experiences. The eBay technology assets now available through X.commerce offer a wide range of commerce capabilities on which to develop, and we look forward to seeing innovations that shape the future of commerce.”
eBay, eBay Inc., X.commerce, Magento, Red Laser, Milo, Zong, eBay Mobile, John Donahoe, Matthew Mengerink
About X.commerce
X.commerce brings together the technology assets and developer communities of eBay, PayPal and Magento to support eBay Inc.’s mission of enabling commerce. Through our ecosystem of developers, partners and tools, merchants now have access to open commerce technology to scale and grow their businesses.

eBay Inc. Launches World’s First Open Commerce Ecosystem

X.commerce connects developers and merchants to define the future of commerce; ecosystem combines eBay Inc. assets and partner technologies to create a complete commerce operating system
SAN FRANCISCO--(BUSINESS WIRE)--At its Innovate Developer Conference 2011, eBay Inc. unveiled X.commerce, an open commerce ecosystem focused on arming developers and merchants with the technology tools needed to define the future of commerce.
“Retail used to be all about location —today, it’s all about innovation”
“We expect technology to change commerce more in the next three years than in the past 15,” said John Donahoe, President and CEO, eBay Inc. “This creates a tremendous global opportunity for developers and merchants alike. With X.commerce we’ve created an open ecosystem that is the most complete set of commerce capabilities on the planet. Through X.commerce, developers will be the driving force behind the next wave of retail innovation.”
X.commerce brings together the technology assets and developer communities of eBayPayPalMagento and partners, to further expand on eBay Inc.’s mission of enabling commerce. X.commerce gives developers and merchants all the technologies necessary for commerce in an open and accessible format — from shopping carts, to payment services, inventory management, marketplace integrations, tax management and beyond.
A Changing Retail Environment
The way consumers shop is fundamentally changing due to innovations in mobile, social, local and digital experiences. Merchants are increasingly challenged to keep pace with consumer expectations in this new retail environment. Internet and mobile technologies influence offline purchases, from barcode scanning to mobile commerce.
The X.commerce ecosystem delivers a complete set of commerce capabilities, helping merchants deliver new customer experiences.
The retail market is expected to reach $10 trillion globally by 2013.1 As a whole, the majority of commerce is conducted offline, but the line between offline and online commerce is quickly blurring.
Benefits for Developers
X.commerce gives developers the tools to create entirely new shopping solutions. The X.commerce ecosystem contains the world’s first open commerce operating system, X.commerce Fabric. Via the X.commerce Fabric, developers can distribute their innovations directly to the hundreds of thousands of merchants currently in the Magento, eBay and PayPal merchant portfolio.
Benefits for Merchants
X.commerce offers the ability to quickly implement new technologies that create better experiences for customers. Merchants can deploy and integrate tools ranging from demand generation to merchandising, transactions (payments, identity, fulfillment), business management (analytics, customer service) and more. The open environment provides merchants the freedom to implement, customize and scale technologies at the pace most appropriate for their businesses.
Benefits for Solution Providers and Partners
X.commerce represents a new distribution channel, and the open environment allows for the newest technologies to be plugged in as needed – including those outside the eBay portfolio.
Follow X.commerce on Twitter: #Innovate2011, @X_commerce. For additional information visit
Support for X.commerce
“Consumers no longer shop in one location or visit only brick and mortar stores. Consumers interact in numerous settings, both real and virtual…the old boundaries no longer exist,” said Marshal Cohen, chief industry analyst, The NPD Group, Inc. “Consumers are becoming increasingly more sophisticated in their use of technology to help them get more bang for their buck. While these changes might be daunting for some, the businesses that are able to embrace these innovations and find fast, flexible and creative solutions will have the competitive advantage.”
“Retail used to be all about location —today, it’s all about innovation,” said Matthew Mengerink, Vice President and General Manager, X.commerce. “Merchants can see the world changing around them as consumers are adopting new technologies that change how they shop. With X.commerce we’re allowing developers to focus on innovation, so merchants can focus on selling.”
Pricing and Availability
X.commerce is available today. Basic use is free to registered users. Developers can download the X.commerce developer package

ezRez Software Unveils New Product that Enables Loyalty Program Points to Pay for Merchandise and Services across the Internet

MileagePlus is First Loyalty Program to Participate in New Digital Wallet Product

SAN FRANCISCOOct. 12, 2011 /PRNewswire/ -- ezRez Software, Inc., a software-as-a-service provider of travel and loyalty solutions, today announced a new product that will enable members of loyalty programs, such as frequent flier and hotel rewards programs, to use their points as currency in digital wallets.  
MileagePlus, United Airlines' award-winning loyalty program, will be the first to integrate with the new product, offering members the flexibility and value of using miles to pay for products and services across the Internet.  
ezRez will first implement the product with PayPal in 2012, with others expected to follow. Upon launch, MileagePlus will enable members to use miles to pay for products and services with select on-line merchants.  The merchant will deliver the goods directly to the member, whose MileagePlus account will be debited the appropriate number of miles.  The entire process will be intuitive and easy.
"ezRez already processes more than 20 billion reward points annually through our SaaS platform so this is a natural extension for us," said Daniel Farrar, CEO of San Francisco-based ezRez. "We're helping MileagePlus further improve the value of miles for its members by enabling the program to be more easily used to pay for products and services in addition to traditional rewards like flights, hotels and car rentals."
This is an extension of an existing relationship between ezRez and United, which began in 2009 when MileagePlus tapped ezRez to offer hotel and car awards on  More information will be released in 2012, when the product is scheduled to roll out.
About ezRez Software, Inc.
ezRez Software, Inc. is a global software-as-a-service provider that helps travel companies, loyalty programs and financial services institutions engage with their highest value customers.  The ezRez product suite includes a white-label travel commerce and loyalty redemption platform, a loyalty payments engine for digital wallets, and personalized marketing solutions.  ezRez works with more than 200,000 travel suppliers, loyalty programs and payment providers globally, including AirAsia, American Airlines, United Airlines, Starwood Hotels, Intercontinental Hotels, JetBlue, American Express and PayPal.  Collectively, more than 20 billion reward points are redeemed through the ezRez platform annually.  Based in San Francisco, ezRez was founded in 2003 and has secured $17 million in venture funding led by Canaan Partners with participation from Azure Capital Partners.  For more information, visit
About United Continental Holdings, Inc.
United Continental Holdings, Inc. (NYSE: UAL) is the holding company for both United Airlines and Continental Airlines. Together with United Express, Continental Express and Continental Connection, these airlines operate an average of 5,765 flights a day to 377 airports on six continents from their hubs in ChicagoClevelandDenverGuamHoustonLos AngelesNew York/Newark Liberty, San FranciscoTokyo and Washington, D.C. United and Continental are members of Star Alliance, which offers more than 21,200 daily flights to 1,185 airports in 185 countries. United and Continental's more than 80,000 employees reside in every U.S. state and in many countries around the world. For more information about United Continental Holdings, Inc., go to For more information about the airlines, see and or follow onTwitter and Facebook.
SOURCE ezRez Software, Inc.

JPMorgan Chase Reports Third-Quarter 2011 Net Income of $4.3 Billion

$1.02 Per Share, on Revenue1 of $24.4 Billion

  • Challenging investment banking and capital markets environment; Firm maintained its #1 ranking for Global Investment Banking Fees year-to-date
  • Consumer & Business Banking reported solid revenue, up 6% compared with prior year, and deposits up 7%; added 60 new branches during the quarter
  • Credit Card sales volume2 up 10%; net charge-offs declined as expected
  • Commercial Banking reported solid revenue, with strong loan growth, up 9%, and record deposit2 balances, up 31%
  • Treasury & Securities Services reported strong growth in deposit2 balances, up 41%
  • Third-quarter results included the following significant items:(*)
    • $1.9 billion pretax ($0.29 per share after-tax) benefit from debit valuation adjustment (“DVA”) gains in the Investment Bank, resulting from widening of the Firm’s credit spreads
    • $542 million pretax ($0.09 per share after-tax) Private Equity loss
    • $1.0 billion pretax ($0.15 per share after-tax) additional litigation expense, predominantly for mortgage-related matters, in Corporate
  • Fortress balance sheet maintained:
    • Basel I Tier 1 Common1 of $120 billion, ratio of 9.9%; estimated Basel III Tier 1 Common1 ratio of 7.7%
    • Repurchased $4.4 billion of common stock2 during the third quarter
    • Credit reserves at $29.0 billion; loan loss coverage ratio 3.74% of total loans1
  • Over $1.3 trillion in new and renewed credit provided to and capital raised for consumers, corporations, small businesses, municipalities and not-for-profits year-to-date:
    • Small business loan originations of $12.6 billion, up 71% compared with prior year-to-date and 133% compared with the same period in 2009
    • Middle-market loans of $41.5 billion, up 18% compared with prior year
    • Trade finance loans of $30.1 billion, up 69% compared with prior year
  • Increased U.S. employee headcount year-to-date by more than 13,200; over 2,200 military veteran hires year-to-date
1 Presented on a managed basis. For notes on managed basis and other non-GAAP measures, see page 13.
2For additional notes on financial measures, see pages 13 and 14.
The Firm also recognized a $691 million pretax net loss ($0.11 per share after-tax), including hedges, from credit valuation adjustments ("CVA") on derivative assets, due to the widening of credit spreads for the Firm's counterparties. The Firm actively manages its exposure to CVA.
JPMorgan Chase & Co. (NYSE: JPM) today reported third-quarter 2011 net income of $4.3 billion, compared with net income of $4.4 billion in the third quarter of 2010. Earnings per share were $1.02, compared with $1.01 in the third quarter of 2010.
Jamie Dimon, Chairman and Chief Executive Officer, commented: “The Firm reported third-quarter net income of $4.3 billion, representing a 13% return on tangible common equity1. It is notable that these results included several significant items(*), including a $542 million pretax loss in Private Equity, $1.0 billion pretax of additional litigation expense in Corporate and a $1.9 billion pretax DVA gain. The DVA gain reflects an adjustment for the widening of the Firm’s credit spreads which could reverse in future periods and does not relate to the underlying operations of the company. All things considered, we believe the Firm’s returns were reasonable given the current environment.”
Further commenting on business results, Dimon said: “The Investment Bank’s revenue, excluding the DVA gain, was down substantially; however, we are gratified that the business maintained its #1 ranking in Global Investment Banking Fees, and we believe that we have maintained a healthy share of the global sales and trading market. Retail Financial Services demonstrated good underlying performance, with solid revenue and increased deposits in Consumer & Business Banking and strong retail mortgage origination volumes in our Mortgage Banking business. In our Card business, credit card sales volume, excluding Commercial Card, was up 10% compared with the prior year. Commercial Banking reported continued loan growth, including middle-market loan balances up 18% compared with the prior year, and record deposit2 balances of $180.3 billion were up 31% compared with the prior year. In Treasury & Securities Services, trade finance loans increased 69% to $30.1 billion, and deposit2 balances increased 41% to $341.1 billion. Corporate/Private Equity results were negatively affected by market conditions, the Firm’s decision to take certain positions in its securities portfolio in anticipation of an eventual increase in interest rates, and additional litigation expense.”
Dimon continued: “Mortgage net charge-offs improved slightly but remained at extremely high levels. We expect mortgage credit losses to remain elevated. The Firm remains committed to helping homeowners and preventing foreclosures. Since the beginning of 2009, we have offered 1,224,000 trial modifications to struggling homeowners. With respect to our Chase credit card portfolio, the net charge-off rate1improved to 4.34% and may continue to improve modestly over the next quarter or so. After that we currently would not expect much improvement. Wholesale credit trends remained healthy and stable.”
Regarding the balance sheet, Dimon commented: “We maintained our fortress balance sheet, ending the third quarter with a Basel I Tier 1 Common ratio of 9.9%. Our strong capital position allowed us to repurchase $4.4 billion of common stock2 during the third quarter. We estimate that our Basel III Tier 1 Common ratio was approximately 7.7% at the end of the third quarter. Our total firmwide credit reserves remained relatively flat compared with the prior quarter at $29.0 billion, resulting in a firmwide coverage ratio of 3.74% of total loans1. The Firm’s total deposits increased to $1.1 trillion, up 21% compared with the prior year.”
Dimon also remarked: “JPMorgan Chase continues to do our part to support our clients and communities. During the first nine months of 2011, the Firm provided credit to and raised capital of over $1.3 trillion for our clients, up 22% compared with the same period last year; this included $12.6 billion lent to small businesses, up 71%. We originated more than 560,000 mortgages; we provided credit cards to approximately 6.6 million people; and we lent or provided credit of $51.0 billion to more than 1,100 not-for-profit and government entities, including states, municipalities, hospitals, and universities. In addition, the Firm has been very successful in hiring more than 2,200 U.S. military veterans so far this year and has increased its net employee headcount in the U.S. by more than 13,200.”
Dimon concluded: “Our shareholders should rest assured that we are being extremely cautious while navigating through this challenging economic environment. We are working hard to meet all of the requirements of the new and complex regulatory environment, and we continue to invest in the future while remaining focused on serving our clients and communities around the world.”
 The Firm also recognized a $691 million pretax net loss ($0.11 per share after-tax), including hedges, from credit valuation adjustments ("CVA") on derivative assets, due to the widening of credit spreads for the Firm's counterparties. The Firm actively manages its exposure to CVA.

Tinkoff. Credit Systems Issues 1 Million Credit Cards on TSYS PRIME

Russian Consumer Lending Institution Celebrates Major Milestone with TSYS
COLUMBUS, Ga. & MOSCOW--(BUSINESS WIRE)--Today TSYS® announced that it has joined with Tinkoff. Credit Systems (TCS) to celebrate the issuance of one million credit cards on TSYS’ PRIME card management solution. One million credit cards marks a significant milestone for Moscow-based Tinkoff. Credit Systems — the first company to establish a mono line credit card business in Russia.
“We are pleased to join TSYS in celebrating this achievement”
“TSYS is very excited by TCS’ achievement and growth in the Russian market. TCS has managed to successfully differentiate its offering in the market and to expand its portfolio impressively,” said Jaffar Agha-Jaffar, managing director in the CIS, TSYS. “We are delighted that our PRIME solution has been a key enabler for TCS’ success, and the company has benefited from the PRIME system’s flexibility, scalability and speed-to-market capabilities.”
“We are pleased to join TSYS in celebrating this achievement,” said Oliver Hughes, president of Tinkoff. Credit Systems. “The team spirit between our organisations has been very positive and has helped our partnership develop. The world-renowned PRIME technology has supported our business development strategy every step of the way.”
TSYS presented key TCS executives with a congratulatory award as part of the celebration. To date, TCS has now issued 1.7 million cards.
As a mono line credit card business and TSYS client since 2006, TCS issues premium credit card products to customers throughout Russia through a branchless, virtual network. The company has been committed to providing the best customer experience while creating competitive and quality products since its inception. TCS’ portfolio currently consists of MasterCard branded credit cards, including co-branded and affinity products.
TSYS has a proven track record in the CIS market dating back to 1989, with a global footprint that extends across more than 130 banks and financial institutions in 70 countries. TSYS maintains a full business and technical support office in Moscow that provides PRIME products and services to banks and financial institutions in Russia and other CIS countries, and employs more than 8,000 skilled resources around the globe.
About TSYS
TSYS (NYSE: TSS) is reshaping a new era in digital commerce, connecting consumers, merchants, financial institutions, businesses and governments. Through unmatched customer service and industry insight, TSYS creates a better experience for buyers and sellers, supporting cross-border payments in more than 85 countries. Offering merchant payment-acceptance solutions as well as services in credit, debit, prepaid, mobile, chip, healthcare, installments, money transfer and more, TSYS makes it possible for those in the global marketplace to conduct safe and secure electronic transactions with trust and convenience.
TSYS’ headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks. For more information, please visit us at
About Tinkoff. Credit Systems
Tinkoff. Credit Systems is Russia’s first specialised mono line credit card institution. Using a scalable, end-to-end card operating platform handling customer acquisitions, servicing and payment collections backed by an in-house call centre handling customer enquiries, card activations and collections, TCS is committed to providing the best customer experience while creating competitive and quality products.

NRF Says Bill to Repeal Swipe Fee Reform Would Cost Consumers Billions in Savings

WASHINGTON--(BUSINESS WIRE)--Legislation introduced today in the House to repeal debit card swipe fee reform would cost consumers more than $6 billion a year in savings that merchants plan to pass along to their customers, the National Retail Federation said.
Representatives Jason Chaffetz, R-Utah, and Bill Owens, D-N.Y., today announced plans to introduce legislation that would repeal debit card swipe fee reform regulations that took effect on October 1. The regulations, set by the Federal Reserve under last year’s Wall Street reform law, capped debit card swipe fees charged by the nation’s largest banks at about 21 cents, down from an average 44 cents. Analysts have estimated that the cap will save merchants and their customers more than $6 billion a year.
“This misguided legislation would take billions of dollars in savings away from American consumers,” NRF Senior Vice President and General Counsel Mallory Duncan said. “The banks tried to stop this law from being passed, they tried to delay it once it was passed, and they managed to water down the amount merchants and consumers will save. Now that it’s just barely taken effect, they are trying to repeal it before anyone can benefit. Congress needs to stop doing the bidding of the banks and think about the people who paid for the bank bailout not so long ago – consumers and Main Street merchants.”
Retailers will not know the precise savings until statements from their banks arrive over the next several weeks. But merchants are planning a wide range of ways to use the savings to increase value for their customers, such as overall lower prices, specific discounts for using debit cards, free or lower-cost delivery on appliances, free alterations on clothing, or hiring additional staff to improve customer service, to name just a few examples.
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 an industry that includes more than 3.6 million establishments and which directly and indirectly accounts for 42 million jobs – one in four U.S. jobs. The total U.S. GDP impact of retail is $2.5 trillion annually, and retail is a daily barometer of the health of the nation’s economy.


National Retail Federation (NRF)
J. Craig Shearman, 202-626-8134

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