Nine Polish banks will commercially launch Visa cloud-based mobile contactless payment services in the first quarter. Close to 70% of Visa cards in the European market have contactless functionality, with the technology accounting for more than 40% of all Visa payments in Poland.
The Debt Service Ratio (DSR) of American consumers continues to hover in single digits during the third quarter. The slowdown in credit card debt, the migration to more debit card use and very low mortgage rates, are major factors in the DSR decline.
The four top U.S. payment networks Gross Dollar Volume (GDV) for credit and debits cards combined for the fourth quarter (Q4/14) will likely rise 6.9% year-on-year (Y/Y) to $1398 billion. Based on current economic and industry metrics, U.S. payment card GDV will approach $1500 billion in Q4/2015.
NC-based SiteLink is adding SiteLink Merchant Services and SiteLink eSign into its suite of software products. Now, storage operators eliminate third-party gateways by processing credit card payments directly through SiteLink Merchant Services.
Gemalto announces the final closing of the acquisition of SafeNet data and software protection. This followed the approval by the relevant regulatory and antitrust authorities. SafeNet will be integrated with Gemalto Payment & Identity segment and its contribution mainly consists of Platforms & Services activities.
The UK’s LINK ATM network announced Christmas 2014 was a record time for cash machine withdrawals. A total of £662 million was dispensed by ATMs on 24 December 2014, with an average withdrawal of £82. This was a 22% increase on the £544 million dispensed on the same day in 2013 while £11,899 million was withdrawn throughout December 2014, an increase of 4% on December 2013, which totaled £11,468mn. There was also an increase on New Year’s Day, with 14% more cash withdrawn this year than last (£164 million on 1 January 2015, compared with £144 million on 1 January 2014).
Skrill digital payments has partnered with Linden Lab to integrate the Skrill Digital Wallet as a payment option for Second Life user-created virtual world. Users can buy Linden Dollars (L$) with their currency of choice at the market exchange rate. Linden Dollars are then used for transactions among users for a wide variety of user-created virtual products and services in the Second Life marketplace. Since Second Life first opened in 2003, millions of people from all over the world have participated in the vibrant virtual economy, and Linden Lab pays out tens of millions of dollars to successful Second Life content creators every year. Skrill’s Digital Wallet provides users with a secure and easy method to send and receive Linden Dollars. Skrill 1-Tap, Skrill’s recurring payment solution, allows users to enter their information only once to enable continuous payments thereafter with just one tap or click.
Salt Lake City-based Code is introducing a reader with embedded formatting features that can quickly manipulate barcoded data, including driver license and military identification information, to fill out loyalty forms and credit card applications or print templates for ID cards.
A new credit card processing service has been introduced offering a free POS terminal that automatically applies surcharges to credit cards and provides customers with itemized receipts.
San Diego-based PayLease has added a retired Morrison & Foerster attorney to its Board. PayLease, is a provider of electronic rent payment services for the property management industry.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Fred Brothers, Executive Vice President of Strategic Innovation of FIS.
While the payments industry is ablaze with mobile payments technology and potentially huge profits, it will not come to fruition unless consumers are educated on the performance and ease of use of mobile pay services.