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North America

Interac’s battle for survival

Mon, Sep, 6 2010

The future of Interac, Canada’s domestic debit scheme, is under threat. It is predicted the business will lose 30 percent of its market share in the next five years. If it is to survive in an increasingly competitive market, Canada’s regulators must allow it to become a for-profit business

BancorpSouth targets students with card

Fri, Sep, 3 2010

Mississippi, US-based BancorpSouth is to launch university-branded affinity checking accounts and debit cards.Free

US personal finances getting worse

Fri, Sep, 3 2010

US consumers’ personal finances are deteriorating despite greater confidence about the country’s economy.Free

Heartland agrees to $5m Discovery settlement

Thu, Sep, 2 2010

US processor Heartland Payment Systems will pay $5m to Discovery Financial Services in its final settlement on a 2008 data breach.Free

UK card write-offs to dip early 2011

Wed, Sep, 1 2010

Write-offs on credit card portfolios in the UK hit their highest level since records began, at £2.1bn ($3.2bn), according to a Bank of England update.Free

Industry viewpoint: Durbin amendment could cause debit profits to evaporate

Tue, Aug, 31 2010

The Durbin amendment, which would give the Federal Reserve rights to limit interchange fees for debit card transactions in the US, is close to becoming law.

Women and card benefits: Which work?

Tue, Aug, 31 2010

Women are in control of 79.2% of all private purchase decisions in Europe and 80% in the US key reasons why many banks have women-specific credit card options. As Louise Naughton reports, specialised card benefits can attract female customers and may help credit issuers reduce NPLs.

Up to the same old tricks

Tue, Aug, 31 2010

Credit card executives have railed against new regulations that have limited their ability to charge higher fees and interest rates to consumers As Charles Davis reports, however, there are signs some US credit card issuers are up to the same old tricks.

Lawmakers target interchange fees

Tue, Aug, 31 2010

The payments industry was caught on the hop by an amendment to an appropriations bill that would require credit card payments at government agencies to be given the lowest available market interchange fees. The surprise move has seen consumer groups pushing for further reform. Charles Davis reports.

Debt collection agencies hit by downturn

Tue, Aug, 31 2010

Consumers, businesses and banks were all affected by the recession, but the financial crisis has recently been claiming some unlikely victims: debt collection agencies. Ten percent of the agencies went out of business in 2009, with many more suffering cash-flow problems. John Hill reports.

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