Mirroring delinquency ratios, charge-offs continue a steady decline south to record lows and headed even lower in the third quarter. According to CardData, the average charge-off rate among the top six issuers stood at 2.81% for Q2/14.
Entersekt announced Swisscard AECS AG has implemented its mobile application Transakt to enable safer, more user-friendly 3-D Secure protection of online purchases. Swisscard is a joint venture between Credit Suisse AG and American Express. Designed to serve as an added layer of security for e-commerce purchases, 3-D Secure has significantly reduced fraud rates, but has proved unpopular with consumers and merchants owing to the cumbersome user experience of many current implementations. Entersekt’s card-not-present authentication solution reinvents the 3-D Secure user experience by enabling consumers to authenticate purchases through their mobile device with the touch of a button.When shoppers registered for the service initiate a transaction on a 3-D Secure e-commerce web site, they receive a push message on their mobile phone with the payment details. They then choose an “Accept” or “Reject” response.
NCR successfully deployed the NCR Venue Management solution at FedExField, home of the National Football League’s Washington Redskins. The suite of NCR venue management software and hardware will enhance the in-stadium game day experience for the team’s fans.NCR’s reputation, commitment and experience in venue management played a significant role in the project. At the core is NCR Venue Manager, an advanced point-of-sale (POS) and reporting system that is deployed in more than 250 stadiums and arenas globally. NCR Venue Manager has been selected to streamline operations, deliver an unparalleled level of service and help bring a world-class experience to FedExField. NCR Venue Manager will provide the Washington Redskins with instantaneous sales, inventory and labor information from the 600 POS devices in use across the stadium, enabling the team to accurately report, analyze and forecast key performance metrics.
Citi Prestigeand Citi ThankYou Premier cardmembers can now transfer an unlimited amount of ThankYou Points to 11 airline and hotel travel loyalty programs. Citi ThankYou Points Transfer (www.thankyou.com/transfer) lets cardmembers fly to thousands of destinations, and enjoy stays at thousands of hotels and resorts worldwide. Citi ThankYou Rewards members already can redeem their points for travel on any airline with no blackout dates. Citi Prestige cardmembers get the most value for their points when they use them to book flights through the ThankYou Travel Center, particularly when redeeming on American Airlines and US Airways. For example, a $415 ticket on American Airlines and US Airways is just 25,000 ThankYou Points, and would be approximately 31,000 points on other airlines. Citi Prestige and ThankYou Premier cardmembers also enjoy global acceptance with chip technology, no foreign transaction fees and complimentary concierge.
EFT Source card programs and personalization services for ATM and debit cards for financial institutions has signed a definitive agreement to be acquired by long-time partner, CPI Card Group, a global leader in financial and EMV card production and related services.Through the acquisition, EFT Source adds advanced personalization capabilities to further enhance CPI’s existing personalization expertise and strengthen CPI’s reach into small- to medium-sized financial institutions across the U.S. In addition, CPI’s customer base will have direct access to EFT’s patented instant issuance solution, Card@Once®, enabling them to deliver fully functioning, traditional or EMV-capable payments cards to customers within seconds.
Being the first card in the wallet brings huge rewards to issuers. But the Millennial population brings new challenges to reach into their wallets as they shun traditional credit card marketing.
Citi cardmembers now have a quicker and simpler way to make online purchases with the new Citi Wallet. Citi cardmembers now no longer have to enter their credit card, billing and shipping information when making purchases at thousands of merchants. Citi Wallet is available to all Citi U.S. consumer credit cardmembers. It’s easy to get started by registering your Citi credit card at www.citi.com/citiwallet using the same login credentials used to manage the Citi account online. Citi Wallet can be used to make purchases online wherever MasterCard’s MasterPass is accepted, including thousands of participating merchants like FTD.com, Gilt, MLB.com, Rakuten.com, LivingSocial and more.
Discover leads the nation’s top credit card issuers in credit card outstandings growth, followed by American Express. Visa and MasterCard issuers flounder as U.S. consumers become more transactional.
Malauzai Software has seen significant growth in banking via the smartphone camera in the first half of 2014. Usage of mobile banking features such as mobile remote deposit capture and mobile photo bill pay has increased as smartphone cameras have advanced in functionality.
Worldpay announced its relationship with OnDeck tp leverage OnDeck’s platform and proprietary technology to allow its small and mid-sized Worldpay customers rely on the company’s credit card processing services including face-to-face, virtual and mobile payment systems. The relationship will allow Worldpay’s small business customers to obtain working capital from OnDeck for business related growth needs, such as equipment or inventory purchases and hiring. OnDeck’s platform and proprietary credit score, the OnDeck Score, enables easy application with fast approval and funding.
Discover Financial Services has been ranked among the top 25 companies heralded by employees for their culture and values, according to Glassdoor.com, a popular careers website that gathers unsolicited comments and company reviews from workers across all industries.
Allied Wallet has been awarded as an INC 5000 company for 2014, recognizing their incredible growth and award-winning solutions. Allied Wallet was previously recognized in 2012 as an INC 500 company. Since then, they’ve expanded to over 1000 employees globally with offices all over the world. This year they’ve earned their second placement on the INC 5000 list as one of the fastest growing companies.By creating a state-of-the-art solution that is easily implemented all over the world, Allied Wallet has connected buyers and sellers from different continents by offering them a simple, safe way to accept or send payments for goods or services. INC 5000 has been awarding the top, privately-held companies in the United States for over thirty years.