Merchant Account Blog

American Express continued its assault on Visa and MasterCard by partnering with more card issuing banks in December. American Express signed deals with Citibank, Bank of America Corp. and HSBC – North America Holdings Inc. What does this mean? It means these banks will be issuing American Express credit cards with their brands on them [...]

From the Greensheets: On Dec. 16, 2005, First Data Corp. announced both a 3% workforce reduction, most of which would occur in its struggling card-issuing unit, and a restructuring charge of approximately $0.05 per share taken in the fourth quarter. Additional charges aimed at further reducing overall operating costs would be taken prior to year-end, [...]