Month: August 2013

Big Data, Payments And Customer Loyalty – Part Two

Across the ideological spectrum, business experts agree that the rise of Big Data is rapidly changing modern marketing and sales. In this transformational time, customer intelligence systems are proliferating at a remarkable rate. Although adopting these systems often involves overcoming logistical hurdles, the rewards of sophisticated data gathering are indisputable. Proper customer intelligence is vital …

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Service Impact of Imposing Credit Card Minimums

Throughout many industries, companies are feeling the effects of 2010’s Durbin Amendment. This much-vaunted amendment to Dodd-Frank was intended to protect consumers and businesses from unreasonably large interchange transaction fees. As finally implemented in 2011, the amendment protects one large class of businesses while doing measurable harm to firms specializing in smaller transactions. Though the …

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Big Data, Payments And Customer Loyalty – Part One

Businesses in many industries are contributing to the rise of Big Data, a confluence of modern data-gathering mechanisms. Larger hard drives and faster CPUs enable people to gather and analyze vast collections of commercial information. Though Google is the largest and most prominent data-gathering operation, retailers like Amazon and Walmart famously gather and analyze enormous …

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Can Durbin Debit Rates Go Even Lower?

A new U.S District Court ruling could lead to major changes in debit card processing fees. On July 31, U.S District Judge Richard Leon swept aside the Federal Reserve’s 2011 implementation of the Durbin Amendment. Passed in 2010, this amendment to the Dodd-Frank law was intended to limit the upward trajectory of debit processing rates. According to Leon, the Fed’s …

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MCX, Paydiant, and the Battle Over Mobile Wallets

The mobile Internet revolution is rapidly changing the longstanding status quo in the payment processing industry. As more people purchase items with their mobile devices, the public is demanding more options and greater security from transaction processing companies. For many long years, big banks and processing companies like Visa and Mastercard faced little competition and were free to change processing …

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