Merchant

The day when the United States joins many other large markets globally in converting to EMV chip-and-PIN cards from magnetic stripe versions will not occur any time soon. But it will come eventually, one observer predicts.

David Leppek, president of Transaction Services LLC, has an opportunity that many in the ISO and acquiring business encounter infrequently in their careers. He has the chance to design his ISO without having to use years-old legacy technology.

As competition for clients intensifies and margins grow increasingly thin, many ISOs are seeking ways to reduce costs, increase efficiency and stand out from competitors. One method gaining consideration is the use of digital signatures and contracts.

Editor's Note: The following is a news release based on a report issued yesterday. Collections & Credit Risk wants to know what you think about the report. Contact Darren Waggoner at 815.463.9008 or darren.waggoner@sourcemedia.com.

An estimated 425 different collection agencies and creditors are named in 495 consumer statute lawsuits filed nationwide in the first half of May, according to data from U.S. District Court complaint dockets. The 15-day total is the lowest for a two-week period since early February, when consumers sued 293 different agencies and creditors.

Though legislation that would permit merchants to set minimum and maximum limits on card transactions remains pending in Congress, it is gaining a lot of attention among merchant acquirers and independent sales organizations.

Best Buy Co. Inc.’s first store in Turkey will use a shared point-of-sale service, eliminating the multiple POS terminals commonly seen domestically on merchant countertops, according to Ingenico S.A., which is supplying the service.

The collection industry is always up for a deal, and in the merger and acquisition landscape, there is always a deal to be made. Whether it is a good or bad deal is something entirely different.

A collection agency owned by a convicted felon, and recently accused of using strong-arm tactics, has been barred from collecting debts in Colorado, the state's Attorney General John Suthers announced today.

State Bank of India is increasing its domestic merchant acquiring activity with plans to deploy up to 1.5 million point-of-sale terminals for credit and debit card acceptance by March 2011, an official from the Mumbai-based bank tells PaymentsSource.