Dozens of U.S. cities had chargeback rates that exceeded the 1% threshold set by Visa and MasterCard. Within the Northeast region, there are 10 cities/ZIP codes with the highest chargeback statistics.
China’s UnionPay has teamed with Société Générale and merchants in 8 African countries, namely Madagascar, Benin, Ivory Coast, Burkina Faso, Cameroon, Guinea, Senegal and Chad, to accept UnionPay cards.
Cubic Transportation Systems inked a $52 million, 5.5 year contract by the New Hampshire Department of Transportation (NHDOT) to deliver a new back office for the E-ZPass system supporting the state’s toll roads.
Customers at ASK Italian restaurants across the UK no longer need to ask for the bill. They now have the option to pay from their smartphone, through the Qkr! with MasterPass app.
Germany’s Wirecard and Krones have teamed, a leading packaging and bottling machine manufacturer, in the development of its e-commerce strategy with integrated payment solutions. The B2B online shop for small and replacement parts, Krones.shop, started in Germany and is now available in a further eight countries.
Visa and Visa Europe have inked a definitive agreement for Visa to acquire Visa Europe, creating a single global company. The transaction consists of upfront consideration of €16.5 billion with the potential for an additional earn-out of up to €4.7 billion payable following the fourth anniversary of closing, for a total value of up to €21.2 billion.
Visa’s profits are soaring and the deal to acquire Visa Europe looks like it will happen this week for US$22 billion. Third quarter net income jumped 41% year-on-year (YOY) to $1.5 billion.
In today’s CardFlash News Que: VISA (Movember); American Express (Presido); SYNCHRONY (DoD); and REPORTLINKER (Europe).
The MCX CEO said the agreement with Chase will link MCX’s extensive network of owner-merchants – which collectively process over a trillion dollars annually in transactions at more than 110,000 retail locations across the United States – with Chase, which is number one in total U.S. credit and debit payment volume.
The CARTES SECURE CONNEXION event this year features 33 SESAMES Awards finalists and the 5 Startup Challenge finalists. The SESAMES Awards will be presented on November 17th.
Navy Federal Credit Union, the world’s largest credit union, is adding Samsung Pay as a mobile payment option for its nearly six million members worldwide. The CU says credit cards alone saw total sales reach $1.18 billion in September.
San Diego-based Ecwid has collaborated with Square to offer retailers the ability to sell anywhere online and keep all channels in sync. Ecwid is available directly or through trusted partners and has over 900,000 registered merchants in 175 countries with support for 45 languages.