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P-Cards & E-Procurement
New Mayor Overhauling County P-Card Process
The new Know County, Tenn. mayor has announced he will be overhauling the county P-Card program to provide a searchable database that allows full transparency of all county purchases. He plans on cracking down on what employees are charging, and making sure citizens' money is not wasted.
Volunteer TV –
9/1/2010
Visa Introduces New Prepaid Card
Payment technology company, Visa, has introduced a new Visa Prepaid card that combines general purpose payment, transit fare acceptance and event ticketing features all in one card.
iStock Analyst
8/30/2010
MoneyGram Partners with MasterCard
MoneyGram International, a global provider of money transfers, announced it has partnered with MasterCard to combine services.
Trading Markets
8/30/2010
MasterCard Partners with Borderlinx
MasterCard Worldwide announced an agreement with Borderlinx to offer MasterCard customers around the world improved access to the global e-commerce marketplace.
Market Watch
8/30/2010
Credit Card Delinquencies Fall
Credit card delinquencies have fallen during the second quarter as consumers try and focus on card relationships.
Collections & Credit Risk
8/30/2010
Choosing the Best Card
When choosing a credit card, an organization needs to make sure they pick the best one for them. Cash back programs, fees and interest rates are all items to consider when opening an account.
Helium
8/27/2010
Visa Losing Money from New Regulations
Smaller debit card swipe fees and other changes in the recent financial reform bill may be good news for merchants and consumers, but not for companies such as Visa.
San Francisco Chronicle
8/24/2010
Final Piece of CARD Act In Effect
The final part of the Credit Card Accountability Responsibility and Disclosure Act has taken effect as of August 22nd. Regulations going into effect deal with both credit cards and gift cards and are aimed at protecting consumers.
Canton Rep
8/22/2010
MasterCard Acquires DataCash
MasterCard announced they have acquired DataCash, a U.K.-based payments service provider, for $520 million. The acquisition will help boost MasterCard's efforts in the global eCommerce market.
Payments View
8/19/2010
Cashing-In on P-Card Rebates
As companies continue to search for more ways to save money, many are taking advantage of p-card rebate programs. P-card rebates work the same as consumer personal credit card cash-back programs. Depending on the card, the firm can save one to three percent off each purchase.
CFO Daily News
8/18/2010
New Gift Card Rules to Take Effect Soon
The new federal gift card rules, established by the Credit CARD Act, begin August 22 and apply to all types of cards. New rules include extending the value date, limiting fees companies can charge and how often they can charge them.
Cleveland
8/19/2010
AmEx Ranks Highest in Credit Card Satisfaction
American Express announced it is ranked highest in customer satisfaction for the fourth straight year, as overall satisfaction with credit cards has increased, according to J.D. Power and Associates.
eCredit Daily
8/19/2010
Card Payment Fraud: How to Control It
With card payments fraud becoming a growing concern, industry experts are wondering what should the Feds do about card payment fraud in the U.S.?
Payment Views
8/16/2010
Consumers Carrying Fewer Credit Cards
A new study shows that U.S. consumers are carrying fewer credit cards than they were three years ago. Consumers now carry an average of 3.08 credit cards, down 26 percent from 2007.
Collections & Credit Risk
8/16/2010
How to Manage Business Credit Cards Responsibly
Effectively managing company credit is as important as managing personal credit, but there are different steps to it. By avoiding co-mingling, managing cash flow and taking on debt only if it increases revenue, companies can manage credit cards responsibly.
Inc.
8/9/2010
Citi Launches New Meeting Card Solutions
Citi announced the launch of its Citiฎ Meeting Card solution to provide companies with the ability to simplify meeting and event expenses management processes.
Business Wire
8/9/2010
Be Aware of New Bank Fees to Make up for Lost Revenue
With new credit card regulations limiting the amount of fees banks can charge, they have estimated the changes will eliminate $390 million in credit card revenue. When a company can not charge for one thing, it looks to charge for another to make up the revenue. It is important to watch accounts for new charges like increase interest rates and faster payment requirements.
Merced Sun-Star
8/9/2010
Harmful Credit Card Practices Persists Even After CARD Act
The CARD Act has eliminated many practices lawmakers deemed unfair, but certain other practices that could put consumers at risk are on the rise. Banks are withholding helpful information from clients, from ways to keep down fees to what the new regulations are.
Collections & Credit Risk
8/6/2010
Former GSU Employee Charged for P-Card Theft
Angela Garner, 23-year business manager at Georgia State University, has been fired and arrested after being charged with theft. GSU Police found that Garner bought a TV with her university purchase card after an audit found irregularities with Garner's p-card. Garner has confessed to the TV, but a GSU whistleblower informed the university that the TV is just the tip of the iceberg as far as fraudulent charges made by Garner; an investigation is currently underway.
WSB TV
8/4/2010
Former City Official Charged with P-Card Fraud
The city of Albany, Ga. opened records that show former Human Resources Director Mary LaMont improperly used her city-issued credit card during trips to California. LaMont defended herself claiming Its more of their efforts to discredit me.
Albany Herald
8/3/2010
NLC Launches New P-Card Program
A new payment option offered by the National League of Cities makes it easier for cities to pay for their purchases using procurement cards.
NLC
8/2/2010
Saving Time and Money by Switching to P-Cards
For companies looking to streamline internal processes, boost efficiency and reduce costs, they need not look any further than their own procurement and payment method. By going electronic and automating payments with p-cards, companies are able to save time and money.
Supply & Demand Chain
8/1/2010
City Switches P-Card Programs
Taylor City, Texas approved switching their purchasing card provider from City National Bank to JP Morgan Chase's program. After over a decade with City National Bank, they decided to switch because of the extra benefits they receive from JP Morgan Chase's credit card program.
Taylor Daily Press
7/29/2010
Former Mayor Takes Her Own Life Due to Fraudulent P-Card Charges
Former mayor for Coppell, Texas killed her daughter and herself after being questioned about misusing her city-issued credit card. Mayor Jayne Peters made 68 personal transactions totaling over $6,000. Days after the mayor took her life, an anonymous $10,000 donation was left at City Hall to reimburse the city for all of Peters charges.
WFAA
7/28/2010
Charge Cards Vs. Credit Cards
Which is better, a charge card or a credit card? Both have their advantages and disadvantages depending on what your company needs.
Mint Life
7/26/2010
City Announces Success and Savings from P-Card Program
The city of Colorado Springs is announcing its success and savings from their purchasing card program. The city earned more than $154,000 under a rebate program that allows nearly one in three city employees to use government-issued VISA credit cards to make authorized purchases.
Gazette
7/25/2010
Despite Regulations, Credit Card Fees Still Deceptive
Even with new laws prohibiting numerous deceptive practices, credit card fees are not always clear. A study by the Pew Safe Credit Cards Project found that previously, all card issuers tracked by Pew used at least one practice that is now illegal.
USA Today
7/25/2010
State Audit Shows Problems in P-Card Program
A Minnesota state audit shows that documentation was missing for some purchases made with state-issued purchasing cards, which have limits and require employees to maintain logs of transactions. Auditors say several logs were missing, including some worth $17,609 from Department of Transportation employees.
Star Tribune
7/23/2010
Suppliers Keep Card Fees Low and Collections High
Eighty-one percent of business-to-business suppliers now accept credit card payments, but to keep fees down most are selective about when. Some ways suppliers keep fees low and collections high are by only accepting credit card payments for deposits or COD, balances up to $1,000 or only within a certain number of days after invoicing.
CFO Daily News
7/20/2010
CARD Act Costing Citigroup Millions
Citigroup Inc. announced that the Credit Card Accountability, Responsibility and Disclosure Act (CARD) legislation will cost $400 million to $600 million in pretax revenue this year.
Collections & Credit Risk
7/22/2010
Wright Express Partners with PetroCard
Wright Express Corporation, a provider of payment processing and information management services, announced it has launched a new universal card program for fuel distributor PetroCard.
Business Wire
7/22/2010
Visa Launches Campaign to Promote Prepaid Cards
Visa Inc. announced the first phase of a national campaign to raise consumer awareness about the benefits of using reloadable prepaid debit cards instead of cash for purchases.
Business Wire
7/15/2010
Despite Some Abuse, P-card Program Saves Money, Maryland Officials Say
Audits of 10 Maryland state agencies in the past year have found misuse of state-issued credit cards, resulting in the firing or resignation of several state workers and investigations by the attorney general's office. But officials that oversee the 7,500 cards employees hold say that abuse is rare, and the cards return millions in rebates to the state, streamline procurement, speed payment to vendors and generate less paperwork.
Maryland Reporter
7/14/2010
Albany Officials to Implement P-Card Program
Albany, Ga. city officials announced they are expanding their p-card program to allow some employees to purchase authorized items in an effort to streamline the purchasing process.
Albany Herald
7/6/2010
Chesapeake Issuing Employee P-Cards
The city of Chesapeake, Virginia announced they are phasing in procurement cards for city employees to have tighter control over spending, while limiting purchases to "small items."
The Virginian-Pilot
6/30/2010
Americans Switch to Prepaid Credit Cards
More Americans are switching to prepaid credit cards to help manage debt while seeking employment. According to a market research report, gift cards carrying a network band, such as Visa or MasterCard, are quickly becoming the most popular form of prepaid credit cards.
Credit.com
6/29/2010
Oklahoma State Employee Investigated for P-Card Fraud
A former Oklahoma State University employee is currently under investigation for misusing a university-issued credit card. Reports indicate the card Cynthia Low was issued had video games, clothing and even lingerie charged to it without approval.
KOCO News
6/28/2010
Courts Stop Scheme that Led to $10M in Unlawful Charges
A federal court has stopped an international scheme that used identity theft to place more than $10 million in charges on consumers' credit and debit cards. The defendants used phony company names and information taken from identity theft victims in the US to open more than 100 merchant accounts with companies that process charges to consumers' credit and debit card accounts.
Collections & Credit Risk
6/28/2010
Financial Reform Bill Limits Debit Card Fees
The financial reform bill, finalized last week, will limit the fees that merchants pay banks for processing debit card purchases, ultimately putting more money in the consumers' hands.
News-Press
6/26/2010
FEMA Credit Cards Report $247,000 in Improper Charges
Federal Emergency management Agency (FEMA) credit cards have been subject to abuse due to poor supervision. An internal audit shows that about $247,000 has been spent improperly due to a lack of oversight.
HS Today
6/25/2010
London Criticized for Visa Olympics Deal
Organizers of the London 2012 Olympics are being criticized for making a deal with card firm Visa which will prevent British sports fans from using any other cards to buy tickets. The organizers defend their Visa deal by explaining they would not be able to raise the funds to stage the Games unless they offered such exclusive agreements to corporate sponsors.
Press Association
6/24/2010
Third Stage of the CARD Act
The third and final stage of the Fed's Credit Card Accountability Responsibility and Disclosure Act (CARD) is to commence August 22, 2010. Companies and consumers need to be aware of the changes, such as card issuers no longer being able to charge penalty fees exceeding the dollar amount associated with the late payment.
Fox Business
6/23/2010
CORT Announces Success with Prepaid Cards for Employees
The U.K. furniture rental company CORT has announced the success they have had in implementing MasterCard's prepaid expense cards. CORT simplified expense management by issuing trusted staff with these prepaid cards instead of cash for disbursements.
1888PressRelease
6/18/2010
Using P-Cards to Streamline Government
Many are urging Pennsylvania's government to streamline its services in an effort to save money. One way to do this is by expanding the states' use of purchasing cards because they are faster, more accountable and reduce administrative time and costs.
PennLive
6/13/2010
Fed Releases New Rules on Credit Card Fees
Consumers who make a late payment or violate other terms of their credit card agreements will get a break under new Federal Reserve Board rules recently announced. The Fed approved rules that will cap most late-payment fees at $25. The rules, which take effect Aug. 22, also bar lenders from charging a fee that exceeds the amount of the violation.
Collections & Credit Risk
6/16/2010
Card Volume Down; Predicted to Rebound by 2011
Commercial card volumes declined last year for the first time in history as companies implemented massive budget cuts. "T&E spend restrictions are not likely to be lifted as quickly as they were implemented," MasterCard Advisors explain. A study by RPMG Research Corp. forecasts that travel card spending will decrease in 2009, but will rebound by 2011 to the highest amount in years.
Procurement
June 2010
Michigan Credit Card Scam Sweeping the State
Michigan Police are warning businesses of a credit card fraud scheme sweeping across the state. The scam artists are scrambling retailers satellite signals with tin foil, then using stolen credit cards to purchase items before taking off. The foil makes it so the businesses credit card systems are offline, so the culprits are able to get away unnoticed.
WWMT
6/13/2010
An Easy, Secure Solution to Secure Funds While Traveling
A recent Visa survey found that 91 percent of Australians are concerned about the security of their funds while traveling abroad. A secure and easy solution recommended by Visa is purchasing cards or prepaid cards while traveling.
eTravel Blackboard
6/11/2010
Parents Call for Reform of County P-Card Policy
Parents from DeKalb county, Georgia have called for more credibility in the school system and are demanding a stricter p-card policy for spending funds. Audits show that p-card users have misused the cards multiple times, but have suffered no disciplinary actions.
The Atlanta Journal Constitution
6/9/2010
School Maintenance Worker Charged with P-Card Fraud
Dawn Driver, a parts inventory specialist for Orange Country schools in Florida, racked up more than $19,000 in personal charges over the past two years on her employee purchasing card, according to an internal audit.
Orlando Sentinel
6/7/2010
Former AP Clerk Pleads Guilty to $437,544 in P-Card Fraud
Betty-Lyn Ryan, former accounts payable clerk responsible for credit card billing at Vancouver Island Insurance Centers, pleaded guilty to fraudulently using her company issued purchasing card for personal use amounting to $437,544.
Canwest News Service
6/4/2010
University Investigates Gift Card Use
The University System of Maryland is investigating how $40,700 in gift cards intended for needy families, paid for by a federally funded program, were distributed without any documentation as to who received them or what they were used for.
The Baltimore Sun
6/3/2010
Former State Superintendent Under Investigation for Alleged P-Card Fraud
Wyoming's former state superintendent, Trent Blankenship, is currently under investigation for suspicious behavior while he was in office in 2006. An audit revealed misuse of state purchasing cards, including insufficiently documenting spending, splitting billing to avoid state billing rules, and misusing grant money for travel expenses.
Star-Tribune
6/2/2010
UGA Police Investigate P-Card Misuse
University of Georgia police are investigating reported misuse of university employee issued purchasing cards. The Services Director doesn't think any UGA employees misused the p-cards, but that a vendor may have used the p-card information three times since January to steal hundreds of dollars.
Athens Banner-Herald
5/29/2010
City Audit Uncovers Possible P-Card Fraud
An audit for the city of Columbus, Georgia raised several questions, including possible purchasing card fraud. City purchasing cards were sometimes used to buy gift cards for Sam's Club. Since the retailer does not accept Visa cards, purchasing gift cards was a way around that, which opens doors for lack of accountability.
Macon.com
5/28/2010
U.S. Government Paving the Way for Electronic Payments
According to industry leaders, the U.S. government is outpacing private industry in converting to electronic, paperless financial transactions. Seventy-five percent of business-to-business payments in North America are still made by check. Government agencies are working to change this by streamlining electronic payments for all companies. One example is the use of purchasing cards, which save over $1.8 billion annually in federal government agencies.
Supply & Demand Chain
5/26/2010
County to Vote on Eliminating P-Card Program
Maricopa County Arizona will vote on possibly eliminating their county credit cards, closing its outside bank accounts, restricting non-emergency travel and putting the county on a tight budget to deal with budget cuts and fraudulent P-card charges.
AZ Central News
5/25/2010
Clemson Announces P-Card Success
Clemson University has had tremendous success with their procurement card system, and is promoting the use of P-cards to gain efficiencies in the procurement-to-pay process.
Independent Mail
5/24/2010
Chase Announces new Single-Use Accounts
Chase announced they are offering new commercial card payment solutions by establishing Single-Use Accounts for mid-market clients to automatically generate one-time-use-only credit card numbers to pay for large, single purchases.
Benzinga
5/13/2010
New Zealand City Council Under P-card Investigation
New Zealand's Christchurch City Council staff is currently under investigation for possible P-card fraud. The council made over $2 million in charges last year, with over a third of their staff in possession of a p-card.
Fairfax Media
5/19/2010
Recommendation to Government: Use Plastic
Due to budget limitations and regulations, the government generally lags behind the private sector, even when it's with items that will help them save money. This is especially true when in comes to purchasing cards; governments need to learned to use p-cards to save money.
Pittsburgh Post-Gazette
5/13/2010
What Not to Buy with your Company P-card
Having a company-issued card comes with temptations, which many have acted on. Some major fraudulent cases include buying fancy clothes for your office charity event, charging your child's college fund to your company card, and ordering off your Amazon wish list from your office computer.
Card Ratings
5/10/2010
Florida State Employees Spend Tax Money on Gift Cards and Flowers
An investigation of the Florida state-issued employee credit card program found that while the state continues to lay off state employees, officials have charged over $265,000 on gift cards, $40,000 on employee retirement gifts, and $10,000 on fresh flowers.
NBC News Online
5/10/2010
Former Office Manager Sentenced to Four Years for P-card Fraud
Kimberly Palmer, former office manager at Valley Metal Buildings, has been sentenced to four years in prison and ordered to pay approximately $144,000 in restitution for fraudulently using her company-issued p-card. Palmer was in charge of accounts payable, accounts receivable, payroll and bookkeeping.
Great Falls Tribune
5/8/2010
Pennsylvania Proposes P-cards to Improve Deficit
Pennsylvania state government has released a proposed plan to solve the state budget deficit without raising taxes. One of the plans main changes is a new purchasing card program to give states cash back on smaller purchases and to eliminate paper checks.
Lancaster Online
5/5/2010
Highlands County Audit Finds P-Card Violations
A recent audit of Highlands County, Fla. shows numerous violations of the county's purchasing card rules. The violations include unauthorized P-card users, users approving their own purchases and not having an appropriate system of separation of duties in place for directors.
Highlands Today
4/30/2010
Feds Release Final Amendments to CARD Act
The Federal Reserve Board has released final rule amendments to the Credit Card Accountability Responsibility and Disclosure Act (CARD) of 2009. The rule change primarily deals with gift certificates, store gift cards and general-use prepaid gift cards, addressing fees and expiration dates to further protect consumers.
The Daytona Beach News-Journal
4/24/2010
Three More Arrested for Hanford P-Card Fraud
Three more employees have been accused of being involved in the Hanford Plutonium Finishing Plant credit card fraud case. Suzie Zuniga, former material coordinator, has been charged with 15 counts of wire fraud; Tommy Honeycutt, former pipefitter, and Pedro Alvarado Jr., former Hanford driver, each have been charged with five counts of wire fraud. Zuniga made approximately 220 suspicious P-card purchases, some in cooperation with Honeycutt and Alvarado.
The News Tribune
4/23/2010
Xcel's P-Card Success
Xcel Energy announced their successful strategy to eliminate an unnecessary amount of paper and receipts by implementing a purchasing card program to lower costs and simplify expense analysis.
Melodika
4/21/2010
Former Ernst & Young Employee Pleads Guilty to Millions in Fraud
Lily Aspillera, former executive assistant at Ernst & Young, pleaded guilty to mail fraud and tax evasion embezzling between $1 million and $2.5 million. She did this in many ways, including issuing over $1 million worth of checks to herself, overpaying employees so they would return the amount to her to keep, and paying her bills with company purchasing cards.
Ethiopian Review
4/20/2010
Five Florida Universities Are Found to Have P-Card Fraud
Florida state auditors this year found more than $150,000 in fraudulent P-card use in five different Florida universities. In some cases these purchases were approved without receipts, and some employees split the cost of items on two transactions to avoid single-purchase limits.
The Palm Beach Post
4/20/2010
ACL Partners with NAPCP for P-Card Development
ACL Services Ltd., a business assurance technology company, announced it has partnered with the National Association of Purchasing Card Professionals (NAPCP) to help fund program development and gain insight into purchasing card issues affecting purchase card professionals worldwide.
Miami Herald
4/19/2010
Two Charged in $50K Embezzlement Plot
Gregory Detloff, former Hanford employee, and Martin Perez, former Kennewick Industrial and Electrical Supply employee, have been arrested and charged with one count of conspiracy and 15 counts of wire fraud. Detloff and Perez allegedly embezzled nearly $50,000 from the company's p-card program by hiding the fraud as material purchases. If convicted they each face a maximum of 20 years in prison and a $250,000 fine.
The News Tribune
4/16/2010
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