While the U.S. EMV payment card migration is going full steam to meet the approaching deadline this year, payment card fraud will continue to grow by more than 25% over the next five years. Thanks to EMV, U.S. counterfeit fraud will decline by more than 80%, however CNP (Card Not Present) fraud will grow by more than 100% between 2015 and 2020.
CardWeb.com’s CardData Reports today features “Country Payments Market Profile: Turkey” report from the Mercator Advisory Group.
Only 58% of students from four-year institutions said they were prepared to manage their money, while 12% of respondents said they never check their bank balances because they are too nervous. Additionally, 16% of student respondents lived paycheck to paycheck and yet only three-quarters stopped spending when their bank account balances were low.
CardWeb.com’s CardWatch database of more than 57,000 marketing items today features the Discover Card TV Spot, ‘Job Loss Support’ Song by Of Monsters & Men
In today’s CardFlash News Que: INGENICO (Intel); BANKRATE (Quizzle); POWA (Worldpay); and DICARO (ATMs).
Countries that have already adopted EMV have experienced a significant increase in online fraud following the migration, and the U.S. is not expected to be an exception. In fact, online fraud increased 21% in Europe in 2012, in part due to the introduction of EMV cards.
China UnionPay is delivering more cardholder tourists to Central and eastern European countries than ever before. In 2014, the number of tourists traveling to China from Hungary and Czech Republic saw a year-on-year growth of about 12%.
The Democratic Republic of Congo’s Banque Commerciale Du Congo (BCDC) has inked a deal to issue thousands of MasterCard Debit cards to its customers. The new cards will be targeted primarily at private banking clients and at expatriates living and working in the country.
CardWeb.com’s CardData database of Company Profiles today features processor Digital River. The Company is a major provider of Commerce-as-a-Service solutions.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Chris Nelson, CEO and founder of Zoot Enterprises.
GTCR is unloading NYC-based Fundtech to Canada’s D+H for US$1.25 billion. Among its many diverse global banking services and products, Fundtech offers merchant services such as credit card gateways and mobile banking.
New research shows nearly two-thirds of Americans are now smartphone owner and 57% have used their phone to do online banking. However, nearly half of smartphone-dependent Americans have had to cancel or shut off their cell phone service for a period of time because the cost of maintaining that service was a financial hardship.