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.
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.
Coupons.com is rolling out a service that lets consumers use the Coupons.com website or Coupons.com mobile apps for iOS and Android to add digital coupons to their credit or debit cards from Visa, MasterCard or American Express for automatic redemption at checkout.
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.
The malicious attack on Target which resulted in a massive data breach has spawned a “we’re all in this together” attitude among the nation’s retailers with the National Retail Federation spearheading the charge for common sense consumer protection measures.
The phrase “massive data breach” is the last thing any retailer wants to see their name associated with, but when bad things happen to good retailers Target's response to the situation is a blueprint for other retailers.
Target early Thursday confirmed widespread media reports that it suffered a major data breach that affected as many as 40 million credit and debit card transactions during a period that began the day before Thanksgiving through December 15.
Canadian dollar-store operator Dollarama reported an increase in sales and an improvement in net earnings for the third quarter ended Nov. 3. The quarter was characterized by continued growth in the store network and solid comparable store sales growth.
Sears continues focusing on its Shop Your Way loyalty program, following second quarter results for the period ended Aug. 3. Members can increase their reward points by linking up to three eligible Visa credit and debit cards to their accounts.
First Data, a provider of electronic commerce and payment processing, announced that it is working with Foursquare to extend its already-successful Foursquare Specials for Credit Cards program to now accept Visa and MasterCard, and most debit cards.
Target is bringing its REDcard Rewards program to Canada. The company announced that its Canadian customers will receive an additional 5% off every day when shopping at Target with its REDcard products, which include the Target Debit Card and Target RBC MasterCard.
The National Retail Federation is responding to a report from the Federal Reserve, which revealed that debit card swipe fees collected by the nation's largest banks have significantly dropped since reform regulations took effect last fall.