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Research Says Unbanked Still Use Credit Cards

By Staff Writer

NEW YORK - A leading market research firm says that its surveys are showing that people without bank accounts are often still users of some sort of credit card, whether from a retail store, oil company or financial institution. Scarborough Research said its surveys of 200,000 adult consumers in 75...

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Elan Picks Up Another One

Olympians Will Carry Prepaid Cards

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Payments/Credit/Debit Stories

February 21, 2006

Elan Picks Up Two More Credit Union Card Portfolios

MILWAUKEE - Elan, the card processing firm which is a subsidiary of U.S. Bancorp, has purchased two more credit union portfolios. The $600 million Harborstone Credit Union, headquartered in Lakewood, Washington, sent 17,200 accounts worth $24 million in outstanding balances to Elan when it sold the portfolio, according to Elan....

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February 21, 2006

Discover Rolls Out Signature Debit Cards; Third Debit Brand Will Offer More Choices, But Will it Have Many Takers?

RIVERWOODS, Ill. - The biggest news in the debit industry since the settlement of the Wal-Mart lawsuit came in last week as Discover, a nationwide card brand well known among consumers for its 1% rebate reward program, announced the roll out of a signature debit card. Discover will market the...

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February 14, 2006

Card Over Limit Fees Slow Upward Growth

FREDERICK, Md. - Over limit fees are still rising among major card issuers, but at a significantly slower pace than previously, according to Cardweb.com, a Web site which tracks card industry trends. Even though the average over limit fee crossed the $31 milestone in 2005, the site reported that this...

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February 14, 2006

Credit Union 24 Hits Transaction Milestone

TALLAHASSEE, Fla. - Credit Union 24, the credit union-owned ATM network headquartered in Florida, processed almost 18 million ATM and EFT transactions in December 2005, a record for a single month and 23% over the number of transactions the network processed in December 2004. "Credit Union 24's consistent transaction growth...

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February 14, 2006

Sheetz to Roll Out Surcharge-Free ATMs

ALTOONA, Penn. - Sheetz, a network of 310 convenience stores spread across Pennsylvania, West Virginia, Maryland, Virginia, Ohio and North Carolina will stop surcharging for ATM transactions at its stores this year, a company spokesman confirmed. The company is negotiating the details of the move with its ATM deployer now,...

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February 14, 2006

FSCC Announces Record Patronage Dividend

SAN DIMAS, Calif. - Credit unions which are members of the Financial Service Centers Cooperative shared branching network will share in a record $1.8 million patronage dividend later this year, the network has announced. The West Coast network said it would distribute the funds in the wake of the patronage...

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December 13, 2005

Chinese Debit Card First Used in U.S. at a PULSE Terminal

HOUSTON - Executives from two Chinese banks, as well as Discover and PULSE took part in the first swipe of a debit card issued by a Chinese bank at a point of sale terminal in the U.S. On Dec. 5, Liu Tinghuan, Chairman of China UnionPay (CUP), and Su Ning,...

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