Content about Payment systems

Employee morale
The following is a response to the article, “Unhappy employees are staying put.”

“[Unhappy employees are] soon to be going, or at least when the economy improves — that’s when they will leave in droves because of extreme low pay and lack of respect from employers. Why wouldn’t they? No one likes being used or abused. Do you?”
— Rick Heath

The PayPal pilot at Home Depot stores is rapidly expanding, going from 51 test locations in the San Francisco Bay Area this week to all 2,000 Home Depot stores by the end of March, according to Bloomberg News.

PayPal director of communications Anuj Nayar told Bloomberg the digital commerce company will extend the trial to 20 additional retail partners by the end of 2012.

John Donahoe, president and CEO of eBay, during a Jan. 18 earnings call expanded on the test of PayPal with retailer Home Depot. 

A division of EBay, PayPal is experimenting with extending its on-line payment system to point-of-sale retail locations. In the fourth quarter of 2011, it chose Home Depot as its first national retailer for a limited test at five stores. PayPal plans to widen the pilot to 51 stores in the Bay Area by the end of the month, Donahoe said.

He explained to investors how the payment process worked by relating his own experience.

The National Retail Federation Wednesday said that legislation introduced in the House to repeal debit card swipe fee reform would cost consumers more than $6 billion a year in savings that merchants plan to pass along to their customers. 

Are banks and credit card companies charging too much for debit transactions? Here's what we heard:

A federal grand jury has indicted Ronald Kiser, a former credit specialist for G.E. Consumer Finance, with bank fraud for diverting $465,000 worth of checks into his mother’s bank account. Kiser, 40, handled the Lowe’s account for G.E. 

“It is one of the most active lobbying efforts I have ever seen,” quipped Senate Majority Whip Dick Durbin, (D-Ill.) when asked about the fight over debit card swipe fees. And he’s been on Capitol Hill for 28 years.