Content about Debit card

TORONTO — Canadian consumers eager to get their hands on a Target loyalty card can now apply for one. Target Canada announced that pplications for its REDcard products - the Target Debit Card and the Target RBC‡ MasterCard - are now available online at Target.ca/redcard. Guests planning to shop at Target stores in Canada with a REDcard will receive an additional 5% off Target's already low prices, applied instantly at the time of purchase.

TORONTO — Target is bringing its REDcard Rewards program to Canada. The company announced that its Canadian customers will receive an additional 5% off every day when shopping at Target with its REDcard products, which include the Target Debit Card and Target RBC MasterCard. Similar to the REDcard Rewards loyalty program in the U.S., the additional savings - which apply to almost everything at Target - will be applied instantly at time of purchase.

Atlanta -- A report released Monday by First Data Corp. found that same-store consumer spending by credit, signature debit, PIN debit, EPT cards and checks at U.S. retail locations rose 7% year-over-year. April’s growth was 5.7%.

The First Data SpendTrend analysis for the full month of May 2012 showed that, although consumers continued to spend at a healthy clip early in the month, activity did slow as the month progressed. Transaction growth in May held fairly steady at 5.9%.

BENTONVILLE, Ark. — Walmart has launched a “Pay with Cash” service that offers cash payment options for online orders at Walmart.com in the United States.

Walmart is the first major retailer to offer online purchases without the need for banking services or a credit, debit or prepaid card.

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. 

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.

WASHINGTON — The National Retail Federation Wednesday said that legislation introduced in the House to repeal debit card swipe fee reform would cost consumers more than $6 billion a year in savings that merchants plan to pass along to their customers.

WASHINGTON  — The National Retail Federation said last week that it is disappointed in the final debit card swipe-fee regulations set by the Federal Reserve.

Under the new rule, the current debit card swipe-fee rate of 1%-2% of each transaction will be replaced with a flat fee of not more than 21 cents per transaction for the nation’s largest banks -- substantially higher than the flat fee of up to 12 cents the Fed originally proposed in December 2010.

WASHINGTON — The National Retail Federation last week responded to the Federal Reserve's proposal to cap debit card swipe fees at 12 cents per transaction.