Content about Credit card

May 17, 2013

A year after Groupon acquired Breadcrumb, a point of sale system and iPad app, the deal-of-the-day website has launched the suite of cloud-based iPad and smartphone tools. The free iPad app enables quick-service eateries, salons, spas and retail merchants to maximize revenue.

CHICAGO — A year after Groupon acquired Breadcrumb, a point of sale system and iPad app, the deal-of-the-day website has launched the suite of cloud-based iPad and smartphone tools. The free iPad app enables quick-service eateries, salons, spas and retail merchants to maximize revenue. 

Breadcrumb products include flexible iPad point-of-sale products and payments solutions for all businesses, which include a low price guarantee on credit card transaction fees, free installation assistance and 24/7 phone technical support. 

March 14, 2013

Scott Kennedy was named president of Target financial and retail service to replace long time finance executive Terry Scully.

Scott Kennedy was named president of Target financial and retail service to replace long time finance executive Terry Scully.

Scully spent nearly 35 years with Target and is moving into a strategic advisory role to ensure the smooth transition of the recently sold credit card portfolio to TD Bank Group. Scully, 60, will officially retire in March 2014. Filling his shoes as head of financial and retail services is Scott Kennedy, 44. He joined Target in 2005 and currently serves as VP of pay and benefits.

February 19, 2013

Capital One Financial Corp.has reached an agreement to sell the portfolio of Best Buy private label and co-branded credit card accounts, with current loan balances of approximately $7 billion, to Citi.

MCLEAN, Va. — Capital One Financial Corp.has reached an agreement to sell the portfolio of Best Buy private label and co-branded credit card accounts, with current loan balances of approximately $7 billion, to Citi. In addition, Capital One and Best Buy have agreed to end their contractual credit card relationship early.

February 13, 2013

Fiserv, a global provider of financial services technology solutions, has partnered with Alliance Data Retail Services, a provider of branded credit card programs, to offer e-bill distribution to cardholders of its more than 100 credit programs.

BROOKFIELD, Wis. — Fiserv, a global provider of financial services technology solutions, has partnered with Alliance Data Retail Services, a provider of branded credit card programs, to offer e-bill distribution to cardholders of its more than 100 credit programs. This service is designed to provide consumers with increased control over bill payments, as well as the added convenience of viewing and paying bills electronically via 3,800 financial institutions that are part of the Fiserv bill payment network.

February 13, 2013

GE Capital Retail Bank, a consumer lending unit of General Electric Company (GE), has renewed its private label credit card program with JCPenney.

STAMFORD, Conn. -- GE Capital Retail Bank, a consumer lending unit of General Electric Company (GE), has renewed its private label credit card program with JCPenney.

The JCP consumer card program provides credit to millions of consumers who shop at more than 1,100 JCPenney stores in communities across the United States and Puerto Rico, as well as online at JCP.com. 

February 5, 2013

The National Retail Federation has been outspoken in its criticism of credit card fees and now a group called the Electronic Payments Coalition that represents credit unions,banks and payment card networks is firing back, claiming that the retail lobby is making false statements regarding checkout fees.

WASHINGTON — The National Retail Federation has been outspoken in its criticism of credit card fees and now a group called the Electronic Payments Coalition that represents credit unions,banks and payment card networks is firing back, claiming that the retail lobby is making false statements regarding checkout fees.

November 15, 2012

A 2.9% third quarter same store sales increase and the sale of its credit card business pushed Target’s third quarter profit up 17.6% to 96 cents a share.

A 2.9% third quarter same store sales increase and the sale of its credit card business pushed Target’s third quarter profit up 17.6% to 96 cents a share.

Total sales increased 3.4% to $16.6 billion in third quarter due to the 2.9% comp increase and the benefit of a net increase of 18 stores compared to the prior year. Target ended the period with 1,781 stores and was up against a challenging prior year comparison when comps advanced 4.3%.

October 23, 2012

Target will no longer have to worry about the impact of its consumer credit card portfolio on its financial performance, now that it has agreed to sell the business to TD Bank Group.

MINNEAPOLIS — Target will no longer have to worry about the impact of its consumer credit card portfolio on its financial performance, now that it has agreed to sell the business to TD Bank Group.

October 22, 2012

WASHINGTON — A revised antitrust settlement on the issue of credit card swipe fees doesn't go far enough, The National Retail Federation said Friday. 

October 4, 2012

Meijer is extending its fuel savings program will continue through the holiday, providing Meijer credit card customers with a 10 cent per gallon discount on fuel during the busy travel season.

GRAND RAPIDS, Mich. — Meijer is extending its fuel savings program will continue through the holiday, providing Meijer credit card customers with a 10 cent per gallon discount on fuel during the busy travel season.

The Grand Rapids, Mich.-based retailer's discount program is available at all 180 Meijer gas stations and will run through Jan. 5.

August 13, 2012

Stage Stores has signed an agreement with Alliance Data Retail Services, making it the provider of a full suite of private label credit card services geared toward driving sales and brand loyalty to grow Stage Stores’ customer base.

HOUSTON — Stage Stores has signed an agreement with Alliance Data Retail Services, making it the provider of a full suite of private label credit card services geared toward driving sales and brand loyalty to grow Stage Stores’ customer base. In addition, Alliance Data and Stage Stores will collaborate to develop and launch a new, simplified loyalty program, with enhanced benefits and incentives exclusive to cardholders.

August 2, 2012

Walmart and mom-and-pop retailers are usually at odds with one another, but the issue of credit card swipe fees has Walmart sharing common ground with independent pharmacists.

Walmart and mom-and-pop retailers are usually at odds with one another, but the issue of credit card swipe fees has Walmart sharing common ground with independent pharmacists.

The National Community Pharmacists Association (NCPA), an organization representing 23,000 independent pharmacies, announced this week that it was rejecting a proposed settlement in the antitrust lawsuit involving Visa, MasterCard and several big name banks.

June 27, 2012

Toys"R"Us has enhanced its loyalty program with the launch of an all-new integrated, point-based system that delivers streamlined benefits for members, as well as new and existing "R"Uscredit card holders.

WAYNE, N.J. — Toys"R"Us has enhanced its loyalty program with the launch of an all-new integrated, point-based system that delivers streamlined benefits for members, as well as new and existing "R"Uscredit card holders.

June 12, 2012

Meijer is helping its customers save money on gas this summer, the retailer said.

GRAND RAPIDS, Mich. — Meijer is helping its customers save money on gas this summer, the retailer said.

The new discount program, which was made available to Meijer credit customers and runs Sept. 3, provides customers with a 10-cent-per-gallon discount on fuel at all Meijer gas stations, with no minimum fuel purchase required. Customers who don't already have a Meijer credit card can apply at any Meijer store, online at Meijer.com/creditcard or via QR link with their smartphone.

May 31, 2012

The trend of improving delinquency rates within Target’s credit card portfolio just keeps getting better, and in May the percentage of customers past due on their accounts sank to another new low.

The trend of improving delinquency rates within Target’s credit card portfolio just keeps getting better, and in May the percentage of customers past due on their accounts sank to another new low.

Target’s more selective granting of credit and shoppers more judicious use of their cards sent the number of accounts 60 and 90 day past due down to 2.6% and 1.8%, respectively. Those figures are represented continued improvement from comparable April numbers of 2.7% and 1.9% that also set a new low and were a marked improvement from earlier in the year.

May 3, 2012

Credit card trends at Target hit a new high, or low, depending on one’s perspective. Either way, it’s a good thing.

Credit card trends at Target hit a new high, or low, depending on one’s perspective. Either way, it’s a good thing.

March 8, 2012

Why has Google arguably become the most popular advertising platform on the planet, attracting a whopping $36.5 billion in ad spending in 2011? And why has Facebook, with an expected IPO valuation of around $100 billion, become such a juggernaut in digital marketing?

Why has Google arguably become the most popular advertising platform on the planet, attracting a whopping $36.5 billion in ad spending in 2011?  And why has Facebook, with an expected IPO valuation of around $100 billion, become such a juggernaut in digital marketing?

The short answer is both Internet platforms combine huge audiences and some capacity to understand individual preferences (based on online behavior and conversation) in order to help brands engage the right consumers with more relevant advertising content and dialogues. 

January 23, 2012

One thing merchants know about markdowns is they are best taken early and at a modest level to stimulate sales as opposed clinging too long to the belief goods will sell at full price only to realize steeper cuts are needed.

One thing merchants know about markdowns is they are best taken early and at a modest level to stimulate sales as opposed clinging too long to the belief goods will sell at full price only to realize steeper cuts are needed. Apparently this philosophy doesn’t apply in the financial services world where Target has temporarily suspended the sale of its credit card receivables portfolio on better terms.

January 18, 2012

Target announced that it has temporarily suspended its efforts to sell its credit card receivables portfolio.

MINNEAPOLIS — Target announced that it has temporarily suspended its efforts to sell its credit card receivables portfolio. The company said it remains committed to selling the portfolio on appropriate terms, but based on discussions with potential partners the company has determined that it is not in its best interests to finalize a transaction at this time.

December 20, 2011

The Bon-Ton Stores announced it has signed a new, multi-year private-label credit card program agreement with Alliance Data, a provider of loyalty and marketing solutions.

YORK, Pa. — The Bon-Ton Stores announced it has signed a new, multi-year private-label credit card program agreement with Alliance Data, a provider of loyalty and marketing solutions.

December 20, 2011

Mobile payments provide retailers an opportunity to take advantage of the newest method of payment. The Center of Retail Research recently released some interesting figures, numbers that clearly shows the growing trend of customers using mobile money.

By Jacob Thompson

Mobile payments provide retailers an opportunity to take advantage of the newest method of payment. The Center of Retail Research recently released some interesting figures, numbers that clearly shows the growing trend of customers using mobile money. It also predicted that about one out of every 10 shoppers would purchase a gift this holiday season using a mobile device. 

December 5, 2011

Delinquency rates in Target’s credit card portfolio are still really good, but after several years of steady improvement, a slight deterioration has become evident the past few months.

Delinquency rates in Target’s credit card portfolio are still really good, but after several years of steady improvement, a slight deterioration has become evident the past few months.

In November, 3.3% of accounts were three or more payments past due, the same rate as the prior month but slightly higher than the low of 3% seen during September, August and July. Likewise, accounts with four or more payments past due stood at 2.2% in November, the same as in October, but higher than the 2.1% seen the prior four months.

November 23, 2011

A coalition of retail organizations, including the National Retail Federation, the Food Marketing Institute and the National Association of Convenience Stores, have filed a lawsuit charging that the Federal Reserve failed to comply with a new law requiring it to reduce fees bank charge retailers when shoppers use credit cards.

New York City -- A coalition of retail organizations, including the National Retail Federation, the Food Marketing Institute and the National Association of Convenience Stores, have filed a lawsuit charging that the Federal Reserve failed to comply with a new law requiring it to reduce fees bank charge retailers when shoppers use credit cards.

The law, which went into effect Oct. 1, said that banks could charge a maximum of 21 cents when consumers use a debit card, down from an average of 44 cents per transaction.

November 18, 2011

By Donna L. Wilson and Kirk D. Jensen

Illustrating the adage that no good deed goes unpunished, retailers offering financially-strapped or credit-challenged consumers the option of layaway are facing criticism and threats of litigation and regulatory scrutiny.