Friday, January 7, 2011

.12 Cents vs. $20.00 Will Steer It Up


It doesn't take a rocket scientist to project that the Dodd-Frank Act and the proposed .12 cent debit transactions will steer merchants towards "heavily steering" their customers to pull out their debit card and keep their credit card in their pocket.  Why?

Given the choice, paying .12 cents is exponentially more attractive than paying $30.00, $20.00 or $10.00.

So, why would stores even want to accept credit cards?  Talk about steering things up...


Debit caps may lure business away from credit cards

By Peter Eichenbaum
Bloomberg News / January 7, 2011

NEW YORK — A plan to slash debit card transaction fees also may wipe out some of the $38 billion that lenders collect on credit cards as merchants steer customers toward less costly forms of payment.  The threat stems from the Federal Reserve’s proposal to cap “swipe’’ fees, or interchange, at a flat 12 cents for each debit transaction, replacing a formula that averages 1 percent of the purchase. The cap must be in place by July 21 to comply with the Dodd-Frank legislation that overhauled the financial industry last year. Credit card interchange fees, which average about 2 percent, remain untouched.
That means a $1,000 television set bought with a credit card would cost a retailer a $20 fee, compared with 12 cents for a debit card. The disparity may tempt merchants to offer discounts for debit, diverting business from credit cards issued by American Express, JPMorgan Chase, Bank of America, and Citigroup.

“It’s a lot more effective now to steer to debit,’’ said Moshe Orenbuch, a Credit Suisse Group analyst. “You’ve massively opened up that gap on larger-ticket purchases.’’  Read More:



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Research and Markets: The Quiet Payment Revolution - Pros and Cons of the Payment Tools Now Available

Image representing Business Wire as depicted i...Image via CrunchBase

DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/2c1eaf/the_quiet_payment) has announced the addition of the "The Quiet Payment Revolution" audioconference to their offering.

With little fanfare, the way companies pay their bills has been steadily changing. A best-practice payment environment today it bears little resemblance to the way invoices were paid ten years ago. Checks, while still having their place in the payment world, are expensive and prone to fraud. There is a better way. This session will look at the payment tools now available and explain the pros and cons of each.
Our speaker walks you through the process of establishing an overall payment plan for your organization. You'll learn how to select the best tool for each type of payment while developing an integrated approach that maximizes the benefits of each while keeping cost to a minimum, reducing the risk for fraud, and duplicate payments.
In 60-fast paced minutes you'll learn:
  • The check issues that make other payment alternatives so attractive;
  • How to start and expand an ACH payment process and when ACH is an appropriate tool;
  • How to start and expand a p-card program and when p-cards are an appropriate tool;
  • How to set up an integrated payment program using checks, ACH credits, ACH debits, p-cards, and wire transfers;
  • What a best-case integrated payment looks like;
  • Benefits of an integrated payment process; and
  • How fraud and duplicate payments are affected in this new payment world.
Please join us as Mary Schaeffer, Accounts Payable Now & Tomorrow's editorial director, brings you and your team up to date on what you need to know to make sure your organization is ready to take advantage of the new payment opportunities. CD includes Q&A between audience and speaker.
Speakers:
Mary S. Schaeffer, editorial director Accounts Payable Now & Tomorrow, is author of over a dozen business books including, New Payment World: A Managers Guide to Running an Efficient Payment Process (July 2007; John Wiley & Sons). First as a practitioner and then as a writer and consultant, Schaeffer has spent over 25 years in the finance and accounting community. She is also the author of The Controller and CFOs Guide to Accounts Payable, Accounts Payable & Sarbanes Oxley: Strengthening Your Internal Controls and Travel & Entertainment Best Practices.
Schaeffer has an MBA in finance and a BS in mathematics. She has spent more time talking and writing about accounts payable issues than any other professional leading some in the press to dub her "America's leading accounts payable expert."

Contacts

Research and Markets
Laura Wood, Senior Manager,
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Permalink: http://www.businesswire.com/news/home/20110107005311/en/Research-Markets-Quiet-Payment-Revolution---Pros



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Sterling Payment Technologies Named Best Channel Vendor by Business Solutions Magazine


Annual Channel Partner Survey Shows Sterling’s Payment Processing Ranks Best in Class

TAMPA, Fla.--(BUSINESS WIRE)--Sterling Payment Technologies, https://www.sterlingpayment.com, an innovative leader in payment processing, today announced it has been recognized by Business Solutions Magazine's readership as one of the Best Channel Vendors in 2011, the third straight year the company has received this honor.
“Sterling takes great pride in providing our dealer partners with innovative, market-leading solutions to meet their customers’ needs”
Through an exhaustive survey completed by thousands of verified Business Solutions Magazine (BSM) reseller subscribers and calculated by Penn State University, the Best Channel Vendor honors are awarded to those vendors who score within the top five percent of their respective technology category.
As one of the top-performing vendors in the payment processing category, Sterling Payment Technologies received exceptional marks in product reliability, as well as service, support and channel friendliness. One reseller commented, “Sterling’s staff has always bent over backwards to ensure our customers receive a fast turnaround on any question they might have.”
With more than 11,500 votes cast, the annual Best Channel Vendor readership survey offers a reputable benchmark for evaluating channel partners' perceptions and experiences, as well as rating the overall effectiveness of a vendor's channel strategy, products and partner programs.
"Sterling takes great pride in providing our dealer partners with innovative, market-leading solutions to meet their customers’ needs," said Paul Hunter, President and CEO of Sterling Payment Technologies.
"We are honored to be selected for this award three years in a row. It’s a great testament to our commitment to provide the best-in-class technology, services and support our partners need to grow their businesses."
About Sterling Payment Technologies
Founded in 2001, Sterling Payment Technologies is a leader in the electronic payments industry. Sterling is nationally recognized for bringing the latest payment technology, products and services to small and regional businesses quickly and affordably. Sterling's ExpressLane PLUS is a revolutionary integrated cash register with communication and reporting features not found in cash registers purchased off the shelf.
Sterling processes payment transactions for all major credit, debit and fleet card networks, including Visa, MasterCard, Discover and American Express.
Sterling provides merchants with a complete range of electronic payment services, including credit, debit, PIN debit, fleet, gift card, rewards and loyalty programs, electronic benefits transfer (EBT), and check authorization and conversion.
Sterling offers 2-second IP, wireless and dial processing, fast and secure web reporting, 24/7 live support, custom applications, and the highest security standards in the industry. For more information, visit https://www.sterlingpayment.com

Contacts

Sterling Payment Technologies
Jo Miglino, 813-371-8209
Senior Director of Marketing and Web Development
jo.miglino@sterlingpayment.com
Permalink: http://www.businesswire.com/news/home/20110106007223/en/Sterling-Payment-Technologies-Named%C2%A0Best-Channel-Vendor-Business



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TSYS Acquires Remaining 49 Percent of First National Merchant Solutions From First National Bank of Omaha


TSYSCOLUMBUS, Ga.--(BUSINESS WIRE)--TSYS (NYSE: TSS) announced today that it has acquired the remaining 49-percent interest in First National Merchant Solutions, LLC (FNMS), from First National Bank of Omaha (FNBO). The company will be rebranded as TSYS Merchant SolutionsSM. TSYS formed a joint venture with FNBO in April 2010, when it acquired a 51-percent controlling interest in the direct merchant acquirer and transaction processor.
“We knew from the start of this relationship that TSYS was the right partner to take First National Merchant Solutions to the next level”
FNMS offers transaction processing, merchant support, credit underwriting, risk management and value-added services, as well as Visa®- and MasterCard®-branded prepaid cards for businesses of any size. Ranked as the 10th-largest merchant acquirer in the U.S. by dollar volume in 2009 by The Nilson Report*, FNMS has a 57-year history in the acquiring industry with more than 300,000 active merchant outlets* in its diverse portfolio.
“We have been very pleased with the performance of the joint venture, and determined that total ownership is important to our diversification strategy,” said Philip W. Tomlinson, chairman of the board and chief executive officer of TSYS. “TSYS Merchant Solutions positions TSYS for further growth in the acquiring industry.”
“We knew from the start of this relationship that TSYS was the right partner to take First National Merchant Solutions to the next level,” said Daniel O’Neill, president of FNBO. “At the same time, First National recognizes the strategic and capital benefits of completing the next phase of this venture. The timing is right for all parties involved.”
TSYS acquired the remaining 49 percent of FNMS for approximately $169.6 million. The transaction closed Jan. 1, 2011. TSYS management will discuss the acquisition in their 4Q 2010 Earnings Conference Call on Jan. 25, 2011.
*The Nilson Report, March 2010
About TSYS
TSYS (NYSE: TSS) is reshaping a new era in digital commerce, connecting consumers, merchants, financial institutions, businesses and governments. Through unmatched customer service and industry insight, TSYS creates a better experience for buyers and sellers globally, supporting cross-border payments in more than 85 countries. Offering services in credit, debit, prepaid, mobile, chip, healthcare, installments, money transfer and more, TSYS makes it possible for those in the global marketplace to conduct safe and secure payment transactions with trust and convenience.
TSYS’ global headquarters are located in Columbus, Georgia, with other local offices spread across the Americas, EMEA and Asia-Pacific. TSYS serves approximately 400 clients in 85 countries, including relationships with more than half of the Top 20 international banks. For more information, please visit us at www.tsys.com.
About First National Bank of Omaha
First National Bank of Omaha is a subsidiary of First National of Nebraska. First National of Nebraska has grown into the largest privately owned banking company in the United States. First National and its affiliates have $17 billion in managed assets and nearly 5,000 employee associates. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas.
First National Merchant Solutions has been a subsidiary of FNBO and provides complete payment processing and first-rate services and customized solutions to businesses of all sizes across the nation. For more information, visit www.fnms.com.

Contacts

TSYS Media Relations
Cyle Mims, +1-706-644-3110
cylemims@tsys.com
or
TSYS Investor Relations
Shawn Roberts, +1-706-644-6081
shawnroberts@tsys.com
or
Kevin Langin, Director of Public Relations, +1-402-602-3541
klangin@fnni.com

At A Glance

TSYS
Source: via Business Wire
Updated   07/07/2009   by company
Headquarters:Columbus, GA
Website:http://www.tsys.com
CEO:Philip Tomlinson
Employees:8,110
Ticker:TSS  (NYSE)
Revenues:$1.9 billion (2008)
Net Income:$250 million (2008)
Permalink: http://www.businesswire.com/news/home/20110104005391/en/TSYS-Acquires-Remaining-49-Percent-National-Merchant



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