The National Retail Federation (NRF) blasted the EMV migration noting small businesses should not be pressured to install the equipment to accept them at the expense of more effective technology. The NRF told Congress that new chip-and-signature credit cards without a PIN will not stop data breaches.
MasterCard has formed a global partnership with mobile commerce provider P97 to make it easier for consumers to find, buy and save on gasoline and convenience store purchases through their mobile phones.
The Consumer Financial Protection Bureau (CFPB) has sets its gatling gun on arbitration clauses which block consumers from suing in groups to obtain relief.
Live Nation Entertainment, the world’s largest live entertainment company, has inked a deal with Appetize for full suite of POS products. The deal is expected to roll out the payment platform across 32 of the company’s U.S. venues.
Stash Hotel Rewards, a loyalty program for independent hotels, has partnered with Synchrony Financial to launch the Stash Hotel Rewards Visa Card. The only hotel loyalty credit card that awards double points for stays at any hotel.
BitPay and Ingenico are teaming to enable brick and mortar stores to accept payment in bitcoin through a traditional point of sale (POS) device. The project is an industry first, allowing a POS terminal device to receive a digital currency payment.
JCB is slated to start a trial of payment using palm vein authentication in corporation with Fujitsu . The trial will be held at the JCB World Conference in October, an event attended by JCB partner companies and financial institutions from around the world.
Early stage delinquency (30+ days) among the nation’s top 6 issuers is likely to remain flat in the third quarter at 1.63% projects RAM Research. In the second quarter delinquency edged down by 11 basis points (bps) sequentially down 10 bps year-on-year (YOY), on average, among the nation’s top six U.S. credit card issuers, according to CardData.
Gross or open accounts (GAC) for U.S. credit cards among the nation’s four largest issuers will likely climb 1.9% in the third quarter to 191.0 million says RAM Research. GAC rose 2.0% in the second quarter to 187.4 million, compared to 183.7 million one-year ago, according to CardData.
In today’s CardFlash News Que: AMERICAN EXPRESS (Unstaged); AFFINITY FCU (Kindness); OBERTHUR (EMV); and EUROPE (P2P).
EVO Payments International (EVO) will provide full support for contactless payments made through mobile wallet providers Apple Pay, Android Pay, and Samsung Pay.
PAX Technology announced PAX’s BroadPOS secure payment solution has been certified by First Data to accept EMV transactions using First Data’s Rapid Connect platform.