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Costco Fiasco Exposes the Pitfalls of Deep Integration
If there is a takeaway from Citigroup's not-quite-stellar rollout of the Costco Anywhere Visa card, it is this: Even in modern times, the transition of large card portfolios from one issuer to another can prove disastrously complex.  more »
Bloomberg News
Bloomberg News
Rewards are considered a key driver to get consumers to adopt mobile payments, and Walgreens has tied its loyalty program to Android Pay. more »
There’s no way to gift-wrap the EMV woes for issuers and retailers around the upcoming holiday sales season. more »
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Acquirers and independent sales organizations have long heard a similar refrain: Adjust to the fast pace of technology or perish. more »
Bloomberg News
Citigroup Inc. mistakenly sent e-mails to some active Costco Wholesale Corp. members telling them their wholesale club membership had lapsed and that their cards would be canceled, bringing a fresh headache to the new partnership. more »
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As it charts a long-term digital payment strategy, TSYS has hired Karim Ahmad, a management consultant with a background in financial technology, to be as head of global product and innovation. more »
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They may seem like a relic from a bygone era, but dial-up terminals have shown surprising staying power in today's payments ecosystem. more »
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Phillips 66 is the third major merchant to come aboard for JPMorgan Chase & Co.’s upcoming launch of Chase Pay—alongside Starbucks and Shell Oil—and the byproduct of this deal is an overhaul of the gasoline and convenience retailer’s existing, relatively bland apps. more »
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The National Australia Bank will partner with digital identity proofing company iSignthis to provide advanced card services to merchant customers in Australia and New Zealand. more »
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Walmart Stores Inc. agreed to buy e-commerce startup Jet.com Inc. for about $3.3 billion, giving the world’s largest retailer the resources for a stronger shopping website to compete with market leader Amazon.com Inc. more »
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Payments technology is rapidly changing, but so is the broader environment for retailers, creating a need for flexible and diverse payment acceptance options. more »
Bloomberg News
Square CEO Jack Dorsey
The tough move from free to fee for its readers has Square adjusting its strategy to lure merchants, but it also opens the door wider to new markets, according to CEO Jack Dorsey. more »
Bloomberg News
Square Inc., the company that makes white, cube-shaped credit card readers for mobile devices, forecast third-quarter earnings that topped analyst’s estimates, as the company’s core digital payments business grew and its ancillary software and data businesses gained traction. more »
ISO&Agent's annual fact book is an extensive listing of the many ISOs, processors, trade groups and other key players in the payments industry. In this issue, we also take a look at the state of the EMV migration, and examine what can be done to make the process go a bit smoother.