| Global Payments Enables Discover Network Card Acceptance for its ...
ATLANTA, Nov. 26 /PRNewswire-FirstCall/ -- Global Payments Inc. (NYSE: GPN) , a world leader in payment processing services, announced today that it has activated the first of its Independent Sales Organizations (ISOs) relationships - EVO, Mercury Payments, North American Bankcard and Total Merchant Services - to acquire Discover Network merchants in a manner consistent with Visa's and MasterCard's acquiring programs. When the rollout of this program is finalized, Global's entire merchant portfolio including its ISO channel will have the capability of processing Discover Network card transactions with full customer support services. The company anticipates finalization by the third quarter of calendar 2008. Global Payments will serve as the Discover Network acquiring program sponsor on behalf of the participating ISOs.
Fraudsters jump to US to cash out on UK cards
The U.S. has overtaken France as the number one place where fraudsters can convert U.K. credit and debit card details into cash, according to a U.K. banking trade group. To blame is the absence in the U.S. of “chip-and-pin" technology, where credit and debit cards with an embedded microchip are authenticated with a PIN (personal identification number) during purchases and cash-machine withdrawals, said Jemma Smith, spokeswoman for the Association of Payment Clearing Services (APACS). As a result, fraud involving U.K. cards overseas jumped a staggering 126 percent for the first six months of this year over the same period last year, according to the latest figures from APACS, released on Wednesday. On a brighter note, domestic fraud conducted during face-to-face transactions fell 11 percent, the group said.
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