While ATMs in Cuba have been accepting China UnionPay (CUP) cards since 2013, merchant acceptance of CUP cards is expected this year. Cuba is getting more popular among Chinese tourists as no visa is required for Chinese citizens.
Tokyo-based JCB is entering the prepaid world after signing onto a joint development program with Austin, TX-based Rev Worldwide. JCB has issued cards in 17 countries and regions, and has partnered with more than 350 domestic and foreign banks.
After failing to secure a new co-branded credit card agreement with American Express, Costco has inked long-term deal with Citibank. The new Citi Visa cards will be effective next year.
U.S. Visa (VS) and MasterCard (MC) credit card U.S. Gross Dollar Volume (GDV) will likely come in at $470 billion in the first quarter. Visa has posted strong double-digit gains in U.S. GDV and about double the growth rate of MasterCard.
With the exception of Chase, the average yield for U.S. credit cards issued by the top four issuers, remained flat throughout 2014. However, RAM Research predicts U.S. credit card yields will decline slightly in the first quarter, despite the historical seasonality of Q1.
Mobile money has been growing rapidly over the past few years, and with 255 services in 89 countries, mobile money is now available in 61% of developing markets.
CO-based CPI Card Group has inked a deal with the Independent Community Bankers of America (ICBA) as the ICBA Preferred Service Provider for instant issuance payment solutions. The expansion comes through ICBA’s recognition of CPI’s Card@Once technology.
MasterCard has formed a global partnership with Cubic Transportation Systems to create a better transit experience. As part of the agreement, MasterPass, MasterCard’s secure digital payment service, will be integrated with Cubic’s NextWave ticketing and journey planning app.
TrialPay, a privately held company with an offers platform that connects merchants with millions of consumers through targeted promotions is being acquired by Visa.
Linkable Networks has snagged $11.7 million in funding along with three key executive team hires. Since 2011 Linkable has been building a scalable platform that provides brands and retailers the ability to engage, reward and incent their consumers directly and across any channel – online, mobile and in-store.
FIME and Thales are making a joint offering for the host card emulation (HCE) mobile services market. The partners have combined expertise to provide near field communication (NFC) service providers and issuing banks with a complete three-phase portfolio of functional and security consultancy and testing services.
Barclaycard US and Bank of Hawaii have teamed with Hawaiian Airlines to launch two new co-branded MasterCards. Both cards offer a sign-up or activation bonus of 35,000 miles and a one-time 50% discount on a coach roundtrip companion airfare between Hawai’i and North America on Hawaiian Airlines.