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Payments processing giant First Data reported this morning that debt service incurred from its huge 2007 takeover by Kohlberg Kravis Roberts & Co. continues to create big losses–$1.02 billion for 2010–even as lucrative fees earned from debit interchange are helping stem the red ink.
February 2 -
Unlike some of their peers, Wells Fargo & Co., U.S. Bancorp and PNC Financial Services Group Inc. don't have to devote a hearty portion of their investor presentations these days to discussing mortgage repurchase requests.
February 2 -
In the mobile banking business, a one-size-fits-all approach just doesn't cut it, as Firethorn Holdings LLC found out.
February 2 -
A boost in payments processing and demand for technology outsourcing from banks helped Jack Henry & Associates Inc. raise its fiscal second-quarter revenue by 15% from a year earlier to $242.6 million.
February 2 -
Consumers between the ages of 18 and 34 are driving up debit card use to control spending, though older Baby Boomers continue to rely on credit cards for most purchases, new research suggests.
February 1 -
SafetyPay Inc. will provide JetPay LLC with a worldwide payment platform that provides additional value and access to a suite of alternative payment options, Coy Lynch, JetPay vice president, noted in Feb. 1 press release announcing the companies’ partnership.
February 1 -
The mobile banking technology provider mFoundry Inc. has added a standalone mobile remote deposit system, the vendor announced Feb. 1
February 1 -
A career criminal who helped steal nearly $80,000 by using a high-powered thermal lance to cut open a Los Angeles Federal Credit Union ATM was sentenced Jan. 31 to 148 months in prison and ordered to pay a share of nearly $400,000 in restitution.
February 1 -
Consorcio de Tarjetas Dominicanas SA, or CardNET, plans to use VeriFone Systems Inc.’s Total Protect encryption service, the payment terminal maker announced Jan. 31.
February 1 -
Several groups are continuing to push for a pan-European EMV smart card to compete with cards sponsored by Visa Europe and MasterCard Worldwide. But whether a new card scheme actually will emerge remains as murky as when the efforts first were launched several years ago.
February 1
