ICYMI March: First Data in The News
In case you missed it (ICYMI), below, we’ve compiled the biggest stories from around the web in March, featuring issues important to First Data clients including our newest veterans/vet spouse initiative, tips for the spring gift card season, an update on the EMV changeover, and more:
A week ago . . . The Military Times interviewed Frank Bisignano about The Center of Excellence for Veteran Entrepreneurship, a program that provides resources for veterans looking to open their own businesses and an initiative for which First Data is a founding partner.
Therein, Frank talked about First Data’s strong commitment to veterans and their spouses through First Data Salutes, an initiative that provides the military community with career opportunities, best-in-class education resources, and premier business solutions for veteran-owned businesses, as well as his overall support for veterans.
In the article, Frank was quoted saying:
“I’ve never thought of doing that work [veteran initiatives] as philanthropy. We’ve seen that the call of duty, wearing the uniform of the services made people better equipped in life for everything that goes on in a successful business. We want to work with them.”
Two weeks ago . . . NACS, the National Association for Convenience Stores, published an article on gift card strategies - provided by First Data - for how retailers can make the most of the upcoming holidays and celebrations.
The tips included using banners and signs, marketing on social media and digital properties, positioning gift cards in multiple locations throughout the store, and organizing gift card displays by occasion. Euphemia Erikson, head of product marketing for NSS, was quoted in the article, saying:
"The moms, dads and grads season from April through June, is one of the key seasons in the gift card calendar. Providing a great assortment of cards throughout the year is key to program success, but providing a great assortment of graphic treatments and designs that generate excitement and ignite the desire to purchase during the moms, dads and grads season can drive incremental revenue through the summer and into the fall, as those gifts cards are redeemed."
Three weeks ago . . . Bankrate a news outlet for financial information interviewed Steve Mathison, First Data’s SVP of Payments Acceptance about the status of the EMV liability shift. In an article titled "Why you're still swiping your credit card,” which was also picked up by Yahoo! Finance, noted that "October was the starting line, not the finish," a sentiment that Steve shared in the piece. In the article, Steve was quoted several times, saying:
"A lot of people look at Oct. 1 as the end. The liability shift is here! We're done! It was the start of a multi-year process with a lot of pre-game warm-up."
Steve went on to discuss the types of business that have made the switch, and concluded the interview by saying the technology that will likely have the biggest impact on changing how businesses accept transactions could be smartphones, rather than EMV.
"Once more merchants enable the ability for consumers to pay with their phones, then you can have a real conversation (about) what's the next wave of consumer shopping. Where we are at the end of next year will inform us as to what that timeline will be."
Four weeks ago . . . Go Banking Rates cited First Data's 2015 white paper on millennial financial trends in an article about millennial spending/payment habits. The article noted that "over half of millennials use digital channels to transfer money, according to a 2015 white paper from First Data."
On the topic of check popularity, the article cited First Data again and included, "The First Data report on millennials found that over one-fifth of this generation has never even written a physical check."