Content about Financial services

December 22, 2014

The months-long back and forth is over. The Men's Wearhouse will acquire all outstanding shares of Jos. A. Bank’s common stock for $65 per share in cash, or total consideration of $1.8 billion. The boards of directors of both companies have unanimously approved the transaction.

The months-long back and forth is over. The Men's Wearhouse will acquire all outstanding shares of Jos. A. Bank’s common stock for $65 per share in cash, or total consideration of $1.8 billion. The boards of directors of both companies have unanimously approved the transaction.

Together, Men's Wearhouse and Jos. A. Bank will have more than 1,700 stores in the U.S., making it the fourth largest U.S. men's apparel retailer with approximately 23,000 employees and sales of $3.5 billion on a pro forma basis.

December 16, 2014

Gift cards and clothing top the lists of holiday shoppers this year, according to a new Harris Poll conducted for Macy's.

Gift cards and clothing top the lists of holiday shoppers this year, according to a new Harris Poll conducted for Macy's.

November 19, 2014

BJ's Wholesale Club has introduced a Mastercard program that ups the ante in the wholesale club credit card category. 

BJ's Wholesale Club has introduced a Mastercard program that ups the ante in the wholesale club credit card category. The My BJ's Perks MasterCard will offer members 10 cents off per gallon of BJ's gas every day, up to 5% back on purchases in-club and at BJs.com, 2% back on eating out and non-BJ's gas purchases, and 1% back on purchases made everywhere else MasterCard is accepted.  

November 13, 2014

Gift card sales are expected to reach record levels again this holiday season and new research from the National Retail Federation (NRF) offers insight into the increased popularity of stored value products.

Gift card sales are expected to reach record levels again this holiday season and new research from the National Retail Federation (NRF) offers insight into the increased popularity of stored value products.

More than half of shoppers polled by NRF’s Gift Card Spending Survey said they will buy gift cards this holiday season because the cards allow the recipient to select their own gift. More than 25% of shoppers said gift cards are easier and faster to buy, and 3.8% said the cards help them stick to their holiday budgets.

November 10, 2014

Customers at Target are being given expanded opportunities to engage with the retailer this holiday season thanks to extended hours and early access to promotional offers.

Customers at Target are being given expanded opportunities to engage with the retailer this holiday season thanks to extended hours and early access to promotional offers.

September 30, 2014

American Express has promoted Neal Sample, currently Enterprise Growth’s chief information officer and chief marketing technologist, to president. He will report to American Express CEO Kenneth I. Chenault and will serve as a member of the company's operating committee.

American Express has promoted Neal Sample, currently Enterprise Growth’s chief information officer and chief marketing technologist, to president. He will report to American Express CEO Kenneth I. Chenault and will serve as a member of the company's operating committee.

Sample replaces Dan Schulman, formerly group president of Enterprise Growth, who has resigned his position to become CEO of eBay’s spun-off PayPal business.

September 24, 2014

Walmart already offers a prepaid debit card, credit card, check cashing and money transfers, but it’s expanding its financial services to include an exclusive checking account called GoBank, with Green Dot Corp., a prepaid-cards specialist.

Walmart already offers a prepaid debit card, credit card, check cashing and money transfers, but it’s expanding its financial services to include an exclusive checking account called GoBank, with Green Dot Corp., a prepaid-cards specialist.

The checking account is linked to MasterCard debit cards. GoBank, which will be available nationwide by the end of October, doesn’t charge overdraft fees or minimum balance fees and waives the monthly membership cost of $8.95 with qualifying direct deposits of $500 a month.

August 28, 2014

Walmart’s senior director for payment strategy Reed Luhtanen is among a group of notable speakers scheduled to gather in Washington, D.C. September 10 to explore vulnerabilities and challenges faced by merchants and payment industry professionals.

Walmart’s senior director for payment strategy Reed Luhtanen is among a group of notable speakers scheduled to gather in Washington, D.C. September 10 to explore vulnerabilities and challenges faced by merchants and payment industry professionals.

July 25, 2014

Visa has rolled out Visa Digital Solutions, a comprehensive suite of offerings that facilitate secure payments across a broad range of Internet-connected devices and wearables.

Visa has rolled out Visa Digital Solutions, a comprehensive suite of offerings that facilitate secure payments across a broad range of Internet-connected devices and wearables.

Visa Digital Solutions fall into two main categories of supporting new payment models and protecting consumers and supporting innovation: Support for New Payment Methods and Technology That Protects Consumers and Supports Industry Innovation.

July 21, 2014

GameStop customers can now exchange gift cards online for a GameStop e-gift card. The new offering is part of a partnership with Cardpool, a leading gift card exchange platform.

GameStop customers can now exchange gift cards online for a GameStop e-gift card. The new offering is part of a partnership with Cardpool, a leading gift card exchange platform.

Consumers can trade in plastic and e-gift cards online by filling out the individual gift card information at https://gamestop.cardpool.com. Once the information is verified and the transaction is complete, consumers receive a GameStop e-gift card via email that they can use at one of the more than 4,400 store store locations nationwide or online.

June 23, 2014

Green Dot Corporation has hired Thien Truong as SVP of business development and sales. Truong comes to Green Dot from American Express, where he most recently served as VP of retail and mall channels for the U.S. Payment Options group.

Green Dot Corporation has hired Thien Truong as SVP of business development and sales. Truong comes to Green Dot from American Express, where he most recently served as VP of retail and mall channels for the U.S. Payment Options group.

While at American Express, Truong led the expansion of the brand's prepaid solutions, including the nationwide launch of its prepaid card, Serve.

June 4, 2014

In a major boost to member benefits, Sam’s Club announced a credit card cash back program that gives members the opportunity to earn 5% cash back on fuel, 3% cash back on dining and travel and 1% cash back on all other purchases, up to $5,000 annually.

In a major boost to member benefits, Sam’s Club announced a credit card cash back program that gives members the opportunity to earn 5% cash back on fuel, 3% cash back on dining and travel and 1% cash back on all other purchases, up to $5,000 annually.

June 2, 2014

Finance executive Sven Wehrwein is the newest member of the Quantum Retail Technology board of directors.

Finance executive Sven Wehrwein is the newest member of the Quantum Retail Technology board of directors.

The Minneapolis-based retail technology company said Wehrwein’s addition to the board brings growth expertise and knowledge of corporate finance.

May 9, 2014

Citi is now offering its checking account customers the ability to use reward points to pay their bills. Citi ThankYou Rewards members can earn ThankYou points across their Citi banking and credit card relationship and use these points to pay virtually any bill online including phone, cable and electricity.

Citi is now offering its checking account customers the ability to use reward points to pay their bills. Citi ThankYou Rewards members can earn ThankYou points across their Citi banking and credit card relationship and use these points to pay virtually any bill online including phone, cable and electricity.

May 1, 2014

Despite what president and CEO Ajay Banga called a “mixed global economy,” MasterCard Incorporated kicked off the year with a strong quarter.

Despite what president and CEO Ajay Banga called a “mixed global economy,” MasterCard Incorporated kicked off the year with a strong quarter.

The company reported net income of $870 million, up 14%, and earnings per diluted share of $0.73, up 18%, in each case versus the year-ago period.

April 28, 2014

The proliferation of gift cards has spawned the creation of unique app that can help retailers unlock the value of unspent gift cards.

The proliferation of gift cards has spawned the creation of unique app that can help retailers unlock the value of unspent gift cards.

April 21, 2014

American Express added Walmart’s U.S. network of 4,100 stores as locations where customers can participate in the card issuers prepaid Serve offering.

American Express added Walmart’s U.S. network of 4,100 stores as locations where customers can participate in the card issuers prepaid Serve offering.

April 18, 2014

MasterCard is in the process of acquiring Pinpoint Pty. Ltd., an Australian provider of loyalty and rewards services to financial institutions across the Asia Pacific region. The transaction is expected to close in the second quarter of 2014.

MasterCard is in the process of acquiring Pinpoint Pty. Ltd., an Australian provider of loyalty and rewards services to financial institutions across the Asia Pacific region. The transaction is expected to close in the second quarter of 2014.

Pinpoint was founded in 1984. Headquartered in Sydney, it has a growing footprint across the region into markets such as China, Hong Kong, India, Taiwan and Japan. Its customer base includes financial institutions and merchants.

April 3, 2014

Cardtronics has extended its ATM services agreement with Walgreens, the company announced. Cardtronics is a preferred provider of ATM services for Walgreens.

Cardtronics has extended its ATM services agreement with Walgreens, the company announced Wednesday. Cardtronics is a preferred provider of ATM services for Walgreens.  

Since the relationship began in 2004, Cardtronics has grown its ATM presence in Walgreens locations significantly — from fewer than 400 initially to roughly 3,250 today. The company is also the exclusive ATM provider for Walgreens in many states across the U.S.

March 27, 2014

Restoration Hardware Holdings chairman and CEO Gary Friedman lauded the company’s performance in the fourth quarter and fiscal 2013, saying that RH continued to outperform the home furnishings industry by a wide margin.

Restoration Hardware Holdings chairman and CEO Gary Friedman lauded the company’s performance in the fourth quarter and fiscal 2013, saying that RH continued to outperform the home furnishings industry by a wide margin.

March 7, 2014

MasterCard and Visa have teamed up to form a new cross-industry group focused on enhancing payment system security to keep pace with the expectations of consumers, retailers and financial institutions.

MasterCard and Visa have teamed up to form a new cross-industry group focused on enhancing payment system security to keep pace with the expectations of consumers, retailers and financial institutions.

News of the group’s formation comes as retailers like Target continue to deal with fallout from the data breaches that first came to light December 2013 and which continue to dominate headlines.

February 18, 2014

MasterCard has teamed up with Points International so it can offer cardholders enhanced rewards that give them more ways to redeem, exchange and trade their rewards points.

MasterCard has teamed up with Points International so it can offer cardholders enhanced rewards that give them more ways to redeem, exchange and trade their rewards points.

The flexible rewards management and monetization options are expected to drive engagement and value to rewards programs offered by issuing banks participating in the MasterCard Rewards Platform.

January 10, 2014

There’s been a lot of talk lately about how the retail industry has supposedly settled a federal lawsuit with Visa and MasterCard over credit card swipe fees.

There’s been a lot of talk lately about how the retail industry has supposedly settled a federal lawsuit with Visa and MasterCard over credit card swipe fees.

December 26, 2013

Holiday sales are up 2.3% so far this season with the bulk of gift card redemptions yet to contribute to the results, according to new data from MasterCard SpendingPulse.

Holiday sales are up 2.3% so far this season with the bulk of gift card redemptions yet to contribute to the results, according to new data from MasterCard SpendingPulse.

December 20, 2013

Groupon is offering last-minute holiday shoppers Grouponvelope and a digital gift voucher. With these new options, Groupon lets local merchants who do not have a gift card program reach customers who are looking for last-minute holiday gift ideas.

Groupon is offering last-minute holiday shoppers Grouponvelope and a digital gift voucher. With these new options, Groupon lets local merchants who do not have a gift card program reach customers who are looking for last-minute holiday gift ideas.