Content about Financial services

April 16, 2014

The National Retail Federation on Wednesday told a congressional panel that the retail industry is committed to safeguarding and protecting consumer data and information from cybercriminals and hackers.

WASHINGTON — The National Retail Federation on Wednesday told a congressional panel that the retail industry is committed to safeguarding and protecting consumer data and information from cybercriminals and hackers.

NRF VP for retail technologies, Tom Litchford, testified before a field hearing of the House Homeland Security Subcommittee on Cybersecurity, Infrastructure Protection and Security Technologies, where he outlined specific steps that the nation’s retailers are pursuing and implementing to identify, prevent and combat cyberattacks.

April 3, 2014

Cardtronics has extended its ATM services agreement with Walgreens, the company announced Wednesday.

HOUSTON — Cardtronics has extended its ATM services agreement with Walgreens, the company announced Wednesday. Cardtronics is a preferred provider of ATM services for Walgreens.  

Since the relationship began in 2004, Cardtronics has grown its ATM presence in Walgreens locations significantly — from fewer than 400 initially to roughly 3,250 today. The company is also the exclusive ATM provider for Walgreens in many states across the U.S.

March 4, 2014

Norwest Equity Partners on Monday announced that it has acquired Apothecary Products from Terry Noble, founder and CEO of Apothecary.

MINNEAPOLIS — Norwest Equity Partners on Monday announced that it has acquired Apothecary Products from Terry Noble, founder and CEO of Apothecary. The transaction closed Feb. 28, 2014; financial terms were not disclosed.

Apothecary offers its customers a one-stop-shop solution with both over-the-counter consumer health products and behind-the-counter pharmacy supplies, spanning across three categories, including pharmacy supply, medication management and home health care.

February 20, 2014

Bloomberg on Thursday lined up the potential suitors in discussion with Safeway on a sale of the grocer, citing people with knowledge of the matter.

NEW YORK — Bloomberg on Thursday lined up the potential suitors in discussion with Safeway on a sale of the grocer, citing people with knowledge of the matter. 

Firms CVC Capital Partners and Leonard Green & Partners are among the the interested parties, as is Cerberus Capital Management. 

KKR & Co. bought Safeway in 1986 for about $4.3 billion, according to data compiled by Bloomberg. The retailer went public in 1990.

February 3, 2014

Putting the industry buzz to rest, TPG Growth, the equity investment platform of TPG, announced that it has acquired a majority stake in e.l.f. Cosmetics from company founders and equity investor TSG Consumer Partners.

FORT WORTH, Texas — Putting the industry buzz to rest, TPG Growth, the equity investment platform of TPG, announced that it has acquired a majority stake in e.l.f. Cosmetics from company founders and equity investor TSG Consumer Partners.

Existing management will continue to have an investment in and an ongoing role with the company. Terms of the transaction were not disclosed.

January 31, 2014

Fifty-seven percent of consumers purchased digital gift cards in December 2013, and 43% purchased physical cards. Data from prepaid product and transaction services company InComm also shows that 80% of consumers purchased digital cards in the six days leading up to Christmas, and 20% of consumers purchased physical cards in the six days leading up to Christmas.

PORTLAND, Ore. — Fifty-seven percent of consumers purchased digital gift cards in December 2013, and 43% purchased physical cards. Data from prepaid product and transaction services company InComm also shows that 80% of consumers purchased digital cards in the six days leading up to Christmas, and 20% of consumers purchased physical cards in the six days leading up to Christmas.

November 4, 2013

Underwhelming fall sales and continued economic and federal budgetary concerns have U.S. retailers in a “wait and see” mode this holiday season, according to a recent BDO USA survey released Monday.

CHICAGO — Underwhelming fall sales and continued economic and federal budgetary concerns have U.S. retailers in a “wait and see” mode this holiday season, according to a recent BDO USA survey released Monday. 

October 8, 2013

American Express Serve announced a free nationwide cash load network and the addition of new money management capabilities to its full-service reloadable prepaid account.

NEW YORK — American Express Serve announced a free nationwide cash load network and the addition of new money management capabilities to its full-service reloadable prepaid account. The new features enable Serve customers to load cash for free at more than 14,000 participating CVS/pharmacy and 7-Eleven stores. According to reports, the number of stores will grow by the end of 2013 to about 20,000, with the addition of Family Dollar, Office Depot, Walgreens and Duane Reade stores.

October 7, 2013

Walgreens on Monday announced Balance Financial, a full suite of integrated financial services that will be launching in phases over the coming months, all built around its new Balance Financial Prepaid MasterCard.

DEERFIELD, Ill. — Walgreens on Monday announced Balance Financial, a full suite of integrated financial services that will be launching in phases over the coming months, all built around its new Balance Financial Prepaid MasterCard.

September 20, 2013

Alliance Boots announced that it is establishing a specialized investment fund, B&B Capital Partners, which will be focused on small- and medium-sized consumer brand businesses within the health, wellness, beauty and personal care sectors.

BERN, Switzerland — Alliance Boots on Friday announced that it is establishing a specialized investment fund, B&B Capital Partners, which will be focused on small- and medium-sized consumer brand businesses within the health, wellness, beauty and personal care sectors.  

The fund will be managed by B&B Investment Partners, a new partnership between Alliance Boots and the two principals of B&B Investment Partners, Chris Britton and Jean-Philippe Barade.

August 19, 2013

Global losses from credit, debit and prepaid card fraud reached $11.27 billion, an increase of 14.6% over the year before, according to a new report.

CARPINTERIA, Calif. — Global losses from credit, debit and prepaid card fraud reached $11.27 billion, an increase of 14.6% over the year before, according to a new report.

March 26, 2013

Kroger on Tuesday announced the planned retirement of VP and pension investment officer, Rich Manka, effective July 15.

CINCINNATI — Kroger on Tuesday announced the planned retirement of VP and pension investment officer, Rich Manka, effective July 15.

"Throughout his career, Rich has been a trusted member of Kroger's leadership team," stated Mike Schlotman, Kroger's CFO. "Pension plan trustees and participants alike have benefited from his vast knowledge and influence on investment strategies and plan designs. We thank Rich for his contributions to our company and industry and wish him the very best."

March 14, 2013

Target has sold its consumer credit card portfolio to TD Bank Group for $5.7 billion, the mass merchandise retailer said.

MINNEAPOLIS — Target Corp. has sold its consumer credit card portfolio to TD Bank Group for $5.7 billion, the mass merchandise retailer said.

February 25, 2013

Health insurer Aetna is offering individual health insurance plans to Costco members in Florida, the insurer said.

JACKSONVILLE, Fla. — Health insurer Aetna is offering individual health insurance plans to Costco members in Florida, the insurer said.

The Costco Personal Health Insurance program includes five plans and offers medical benefits, dental options, a network of doctors and hospitals and other services, as well as lower copays on prescriptions at the club retailer's pharmacies.

February 14, 2013

Harris Teeter on Wednesday confirmed an earlier Wall Street Journal report that the grocer was in the process of exploring strategic options.

MATTHEWS, N.C. — Harris Teeter on Wednesday confirmed an earlier Wall Street Journal report that the grocer was in the process of exploring strategic options. 

January 30, 2013

Aetna is offering individual health insurance plans to Costco members in California, the health insurer said.

WALNUT CREEK, Calif. — Aetna is offering individual health insurance plans to Costco members in California, the health insurer said.

The Costco Personal Health Insurance program includes five plans and offers broad medical benefits, dental options and a large network of doctors and hospitals. The program also is available to members of the club retailer in Arizona, Connecticut, Georgia, Illinois, Michigan, Nevada, Pennsylvania, Texas and Virginia. Aetna plans to expand the program to other markets in the coming months.

January 14, 2013

Medagate, a wholly owned subsidiary of InComm Holdings, announced the launch of the MasterCard Dual Value Health Card, the first dual network healthcare spending card.

ATLANTA — Medagate, a wholly owned subsidiary of InComm Holdings, on Monday announced the launch of the MasterCard Dual Value Health Card, the first dual network healthcare spending card. The Dual Value Health Card enables employers and health plans to combine a member/employee healthcare funding purse with a restricted-spend purse for targeted items and incentives.

December 17, 2012

A slowdown in retail spending happened after a boost that followed Hurricane Sandy, according to a new report by a division of MasterCard.

PURCHASE, N.Y. — A slowdown in retail spending happened after a boost that followed Hurricane Sandy, according to a new report by a division of MasterCard.

MasterCard Advisors released its SpendingPulse report, finding that a three-week recovery in retail spending after Sandy began to slow during the week that ended Dec. 8, while some sectors, like specialty apparel, slipped into negative growth.

November 2, 2012

The National Retail Federation and more than a dozen retailers on Thusday asked a judge to reject a proposed class-action settlement of a federal antitrust lawsuit filed against Visa and MasterCard because of credit card swipe fees.

WASHINGTON — The National Retail Federation and more than a dozen retailers on Thusday asked a judge to reject a proposed class-action settlement of a federal antitrust lawsuit filed against Visa and MasterCard because of credit card swipe fees. The NRF suggested the settlement would not bring credit card swipe fees under control and does not give retailers who oppose it an adequate mechanism to opt out.

October 29, 2012

AmerisourceBergen on Monday named Lawrence Marsh, 52, to the new role of chief strategy officer and SVP new market development, effective Nov. 12, 2012.

VALLEY FORGE, Pa. — AmerisourceBergen on Monday named Lawrence Marsh, 52, to the new role of chief strategy officer and SVP new market development, effective Nov. 12, 2012. 

October 29, 2012

Consumers plan to buy more gifts this year, according to a recent survey commissioned by USAA and released Monday.

SAN ANTONIO — Consumers plan to buy more gifts this year, according to a recent survey commissioned by USAA and released Monday. The fourth annual USAA holiday spending survey indicated that consumer sentiment toward holiday budgeting has become more positive in 2012 when compared to 2011 (53% vs. 45%).

September 20, 2012

Retailers are up in arms over the proposed settlement filed in July of antitrust lawsuits by merchants against Visa, MasterCard and the nation's largest banks.

ARLINGTON, Va. — Retailers are up in arms over the proposed settlement filed in July of antitrust lawsuits filed by merchants against Visa, MasterCard and the nation's largest banks. A total of nine associations representing a broad swath of retail industry expressed their reservations to members of Congress on Thursday, charging that their interests were not represented and asking Congress to reject that settlement. 

September 11, 2012

The National Retail Federation is set to go to court in order to block the proposed $7.25 billion settlement of a federal antitrust lawsuit over Visa and MasterCard credit card swipe fees.

WASHINGTON — The National Retail Federation is set to go to court in order to block the proposed $7.25 billion settlement of a federal antitrust lawsuit over Visa and MasterCard credit card swipe fees.

September 5, 2012

Safeway on Wednesday announced that it plans to file a registration statement in the United States for a potential initial public offering of a minority ownership stake in Blackhawk Network Holdings, a leading prepaid payments network.

PLEASANTON, Calif. — Safeway on Wednesday announced that it plans to file a registration statement in the United States for a potential initial public offering of a minority ownership stake in Blackhawk Network Holdings, a leading prepaid payments network.

September 4, 2012

American Express and Fred's on Friday announced the launch of a special three-month American Express Cardmember offer beginning in September to celebrate the recent card acceptance agreement between the two companies.

NEW YORK