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Payments News -

As predicted in ECR May/June 2008, JPMorgan Chase and First Data have agreed to end their joint venture, Chase Paymentech Solutions by the end of 2008. In reviewing the Chase Paymentech joint venture, both JPMorgan Chase and First Data concluded that the payments and merchant-acquiring businesses were core to their strategies and each owner’s share [...]

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Payments News -

Murkier and murkier grow the prospects for interchange on payment card transactions in Europe, with read-through from the European Commission’s ‘guidance” on the framework for SEPA direct debit suggesting that Brussels is hardening its anti-interchange line. Issued by DG Competition, DG Markt and the ECB on September 4, the guidance on SEPA direct debit – [...]

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Payments News -

Within two years, Maestro-branded cards will be collectors’ items in the UK, a key global market. News leaked out in mid-September that Royal Bank of Scotland, the last remaining issuer of Maestro of any consequence in the UK, will begin to issue Visa debit cards to its UK and US customers during H2 2009. RBS/NatWest [...]

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Payments News -

Writing in the 2007 annual report of Servired, the biggest of Spain’s three domestic card payment systems and the one traditionally most aligned with Visa, president José Gabieras sums up the bank payments industry as ‘in a very peculiar state” now that the two former not-for-profit associations, Visa and MasterCard, have become ‘two duopolists trading [...]

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Payments News -

Though there have been attempts to reshape the German banking market for many years, real change has accelerated during 2008, with three key deals announced worth nearly €17.5 billion (Table 1). These were Crédit Mutuel’s €4.9 billion purchase of Citibank’s German retail banking operations, the €9.8 billion purchase of Dresdner Bank by Commerzbank and Deutsche [...]

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