Chief Information Security Officers (CISO) have become more common on companies’ senior leadership teams. They might be in even higher demand after the highly publicized data breaches at Target, Home Depot, Neiman Marcus and other companies in the past couple of years (see a timeline of data breaches in the past decade here). In fact, Neiman Marcus just hired its first CISO, Sarah Hendrickson.
A nightmare scenarios unfolded at Conn’s this week when the company disclosed a huge third quarter loss, the departure of its CFO and withdrew guidance for the coming year amid disturbing delinquency trends in its credit card receivables portfolio.
President Barack Obama has taken heat over his use of executive orders, but that wasn’t the case on Friday when retail trade groups lined up behind the president in support of wide ranging data security measures.
As the holiday begins to creep closer, GameStop is looking to generate store traffic by unveiling a series of new loyalty incentives during October for PowerUp Rewards program members. The specialty retailer is also offering special financing for new PowerUp Rewards credit cardholders.
Walmart already offers a prepaid debit card, credit card, check cashing and money transfers, but it’s expanding its financial services to include an exclusive checking account called GoBank, with Green Dot Corp., a prepaid-cards specialist.
GameStop has teamed up with Alliance Data Systems Corporation (ADS), a leading global data-driven marketing and loyalty programs provider, to deploy a GameStop-branded private label credit card program.
Several Home Depot customers have filed a class action lawsuit in the United States District Court for the Northern District of Georgia, Atlanta Division, alleging that Home Depot failed to meet its legal obligation to protect their credit card and personal information.
Overstock.com is offering shoppers a new method of paying for their purchases — a store credit card. The new cards will be provided by Comenity Capital Bank, which furnishes credits cards for retailers such as Buckle and Express.
Sears Holdings’ Shop Your Way membership program and social shopping community has expanded its rewards program with the addition of more than 50 brand-name partners, which means members will be able to earn rewards through more places than ever.
The National Retail Federation (NRF) and the Retail Industry Leaders Association (RILA) have asked an appeals court to overturn a federal judge’s approval of a lawsuit settlement regarding Visa and MasterCard’s credit card swipe fees, saying it was negotiated by only a handful of merchants and would do nothing to bring the fees under control.
In a major boost to member benefits, Sam’s Club announced a credit card cash back program that gives members the opportunity to earn 5% cash back on fuel, 3% cash back on dining and travel and 1% cash back on all other purchases, up to $5,000 annually.
Citi is now offering its checking account customers the ability to use reward points to pay their bills. Citi ThankYou Rewards members can earn ThankYou points across their Citi banking and credit card relationship and use these points to pay virtually any bill online including phone, cable and electricity.
Target’s data security breach has already cost all credit unions between $25 million to $30 million. Those numbers are expected to climb in coming weeks as more of the cooperative financial institutions report their costs and as fraud losses are incurred down the road, according to preliminary results of a survey of credit unions by the Credit Union National Association (CUNA).
In a letter to congressional leaders, the National Retail Federation underscored the retail industry’s commitment to protecting sensitive consumer data in the wake of the recent international cyber attacks and thefts.
Coldwater Creek, a leading multichannel retailer of women’s apparel, jewelry and accessories, is leveraging Alliance Data Systems Corporation’s Retail Services business to expand its co-branded credit card program and launch a Coldwater Creek private-label credit card program.
The retail industry is one sector where cash remains king and will continue to be ubiquitous for years to come. Yet despite this, the domain of cash management still remains a major challenge for retailers with cash being expensive to process and secure.
A year after Groupon acquired Breadcrumb, a point of sale system and iPad app, the deal-of-the-day website has launched the suite of cloud-based iPad and smartphone tools. The free iPad app enables quick-service eateries, salons, spas and retail merchants to maximize revenue.