The secondary market for gift cards suggests that not all gift cards are the same.
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With its purchase of NetSpend, TSYS secures one more solid processing contract while at the same time adding to its moat against retailers in the prepaid debit card market.
For the last few years, TSYS has been facing a problem: big banks were going in-house with their own payments systems, rather than contracting them out. TSYS
Republic meets before judge with FDIC: The FDIC was supposed to bring an action against Republic Bank before an administrative judge. The hearing was scheduled for April 18th in Louisville. The FDIC is pursuing an argument that Republic's refund anticipation loans undermine the safety and soundness of the bank.
Bank Freedom will no longer use MetaBank as the issuer for its prepaid debit cards. Bank Freedom follows a similar move by NetSpend to move business away from MetaBank in the wake of the regulatory interventions made against the Storm Lake, Iowa savings bank by the Office of Thrift Supervision.
Bank Freedom isn't the first to distance itself from MetaBank. NetSpend has already begun to seek new relationships. Moreover, they have been fairly open about their motives. NetSpend
Let's acknowledge that someone has to pay for everything.
When Visa and MasterCard impose a fee on credit and debit card transactions, retailers have to pass on their costs through higher prices. If you use a credit card, VISA and MasterCard generally charge between 1 and 2 percent of the transaction amount. With a debit card, the fees are lower. Using a card with miles or another rebate costs more. Using the card