“The Western Union MoneyWise prepaid card incorporates all the benefits of a reloadable prepaid card, including convenience and ease of use, which is what our customers want,” says 7-Eleven spokesperson. 7-Eleven and The Western Union Co. have signed a prepaid agreement to offer consumers the ability to obtain The Western Union MoneyWise General Purpose Reloadable…
NACS Reacts To 21 Cent Cap on Swipe Fees
NACS calls Fed’s final rule “an irresponsible abdication of its legal duty.” The U.S. Federal Reserve’s final rules on debit card swipe fees “is an irresponsible abdication of its legal duty to implement the law as written,” said National Association of Convenience Stores (NACS) Senior Vice President of Government Relations Lyle Beckwith. The final rules…
Swipe Fee Fight Returns To Capital Hill
“We’re not looking for a free ride. What we’re looking for is fair and reasonable,” notes 7-Eleven Franchisee Dennis Lane. Thursday, Feb. 17, marks the eighth public hearing on debit and credit card swipe fees. The hearing, scheduled for 10 a.m. is set to be held in the House Subcommittee on Financial Institutions and Consumer…
Consumer Credit Confidence Bounces Back
First Data’s SpendTrend analysis shows transaction growth on credit cards hit a 13-month high in January. First Data Corp., a global provider in electronic commerce and payment processing, has released its First Data SpendTrend analysis for the full month of January 2011 compared to January 2010. SpendTrend tracks same-store consumer spending by credit, signature debit,…
Federal Ruling ’Positive Step’ in Swipe Fee Reform
The National Association of Convenience Stores (NACS) called the Dec. 16 release of the Federal Reserve’s proposed rulemaking related to debit card swipe fees a “positive step” and said it will continue to push for the reforms demanded by Congress and consumers alike. While no interchange fees should be allowed on debit transactions, the Fed’s…
7-Eleven To Introduce ATM Advertising
Advertising is coming to ATMs in 7-Eleven stores. Cardtronics plans to launch advertising on approximately 2,200 of its Vcom financial kiosks located in 7-Eleven stores in the U.S., on the heels of offering third-party advertising on about 800 ATMs operated by Bank Machine, Cardtronics’ United Kingdom subsidiary. Cardtronics signed a multi-year agreement with i-design, the…
Cardtronics Announces New Organizational Structure
Cardtronics Inc., a non-bank owner of ATMs, has announced a series of organizational changes designed to better align the company’s management structure with its key business and strategic initiatives. Effective immediately, the Cardtronic’s operations will be separated into two business units – “Network and Financial Services” and “ATM Services.” Rick Updyke will assume the role…
Interchange Reform Continues
Now that the Durbin Amendment, part of the Wall Street reform bill, has been signed into law by President Obama, the industry continues to address issues related to interchange reform. Texas Petroleum Marketers and Convenience Store Association (TPCA) President Chris Newton noted the amendment was “an important first step” in dealing with the negative impacts…
Kum & Go Fights Interchange Fees
Kum & Go, L.C. has collected more than 40,000 signatures from customers wanting to control and reduce credit and debit card swipe (or interchange) fees put on customer transactions. The signatures were collected in one month from all Kum & Go stores as part of NACS’ Fight Swipe Fees petition drive. “Kum & Go joined…
Gaming Purchases Just Got Easier
7-Eleven Inc., the world’s largest convenience store chain, and Kwedit Inc., a provider of alternative payment systems, are making it easier for millions of online gamers to buy virtual goods in a game-changing “Play Now. Pay Later.” plan, announced today. Americans who do not have credit or debit cards or who prefer to pay…