America’s love affair with credit cards continues heating up. According to The Nilson Report, purchase volume at merchants for general purpose-type consumer and commercial credit, debit, and prepaid cards issued in the U.S. totaled $4.91 trillion in 2014, up 8.4% from 2013.
Brian Dodge, executive VP, communications & strategic initiatives, RILA, testified at the House Financial Services Committee hearing, “Protecting Consumers: Financial Data Security in the Age of Computer Hackers,” Thursday, May 14.
Borderfree, a provider of cross-border e-commerce services, announced that it signed a definitive agreement to be acquired by Pitney Bowes Inc. for $14 per share in cash, or approximately $395 million.
Palladin Consumer Retail Partners announced a majority investment in Harrys of London, a London-based luxury shoemaker and accessories house known for combining traditional craftsmanship with the latest footwear technology.
After large-scale payment data breaches at Target, Sally Beauty, Michaels, Niemen Marcus and the recently confirmed breach at Home Depot, it seems that no retailer is safe from skilled hackers. The incidents also bring to light such questions as “why are payment system breaches happening more frequently?” and “how can they be stopped?”
First Data has taken a key step toward expanding its payment services by acquiring Gyft Inc., the Silicon Valley-based company that entered the $100 billion gift card market in 2012 and pioneered the concept of a mobile wallet for gift cards.
The data security breaches at Target and Neiman Marcus have put a white-hot fire under the push for the adoption of microchip-based credit-card technology to replace the traditional (and, many would say, backward) U.S. standard of magnetic strip cards.
The National Retail Federation on Monday urged Congress to take a comprehensive approach as it contemplates a national response to criminal cyber attacks in which millions of consumers’ credit and debit card numbers were stolen.
Stacy Scheelk has signed on as senior director of new business development with RED Legacy. An accredited Certified Marketing Director, Scheelk’s responsibilities include developing partnerships, securing sponsorships, creating specialty retail and increasing ancillary income.