TITLE

First Data, Grocer Tie ACH Payments to Loyalty Cards

AUTHOR(S)
Lindenmayer, Isabelle
PUB. DATE
February 2006
SOURCE
American Banker;2/8/2006, Vol. 171 Issue 26, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article looks at a program being pilot tested by First Data Corp. and Stop & Shop Supermarket Cos. that lets customers initiate automated clearing house (ACH) debits from their bank accounts using the grocery chain's loyalty cards in addition to card transactions. The test is another step in the general effort by large merchants to find an alternative to cards, and the fees associated with accepting them, at the point of sale. Wal-Mart Stores Inc. and several large grocery chains are already using systems that route customer payments across the ACH network.
ACCESSION #
19723902

 

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