The National Retail Federation (NRF) told the Senate on March 26 that it’s time for an overhaul of the nation’s credit- and debit-card system, saying banks’ insistence on cards that use a signature instead of a Personal Identification Number (PIN) puts merchants and their customers at risk.
The National Retail Federation is officially recognizing the financial institution JPMorgan Chase & Co. for its decision to issue Europay, Mastercard and Visa (EMV)-compliant payment cards that require customers to enter a personal identification number, as well as store their personal data in an encrypted microchip.
Capillary Technologies has entered a joint marketing agreement with American Express in which American Express will introduce Capillary’s Intelligent Customer Engagement solutions to select medium-sized retailers in the U.S.
Seventy-four percent of shoppers plan to give one or more gift cards this holiday season, and nearly 30% planned on giving five or more gift cards, according to a study by the Retail Gift Card Association (RGCA).
Consumers are spending more money via digital commerce than ever before. According to a new survey from Visa and GfK Research, “The Way We Pay,” more than half of respondents are more comfortable spending money online today than five years ago.
Ares Management and the Canada Pension Plan Investment Board have reached an agreement to purchase Neiman Marcus for $6 billion from a group of investors led by TPG Capital and Warburg Pincus, the private equity firms that bought Neiman Marcus for $5.1 billion in 2005.
Stored value gift cards have become a staple item in many retailers' holiday assortments. Last year the NRF estimated U.S. consumers would spend close to $29 billion on gift cards during the holiday shopping season, and there is no reason to think the trend is slowing down.
The vast majority (91.4%) of American consumers plan to give up to three retail gift cards as gifts over the next three months, according to survey results released Tuesday by the Retail Gift Card Association.
A group of large U.S. retailers – including Macy’s, Target and J.C. Penney – filed suit against Visa and MasterCard on Thursday, abandoning a proposed $7.2 billion settlement reached last year over allegedly inflated credit card processing fees.
Toys "R" Us has appointed Antonio Urcelay, 61, the head of its European operations, as interim CEO, according to a filing the retailer made on Monday with the Securities and Exchange commission, The Record reported.