Visa Mastercard CIF Up 8% YOY Driven by Costco Card Conversions

U.S. cards-in-force (CIF) for Visa and Mastercard payment cards (credit & debit) increased 7.8% year-on-year (YOY) in the third quarter (3Q/16), according to CardData.com. U.S. credit cards increased 11.2% YOY while CIF for debit cards rose 5.1% YOY, in 3Q/16. There are were 1249 million Visa and Mastercard payment cards in circulation in the U.S.…

Turkish Airlines Joins 35 International Airlines Accepting China’s UnionPay

UnionPay reports the official website of Turkish Airlines accepts UnionPay and the website of AirAsia support multi-currency payment with UnionPay cards. So far, 35 international airlines outside mainland China support online ticket booking with UnionPay cards, and many also provide exclusive offers for UnionPay cards. Recently, UnionPay International has reached cooperation with two more internationally…

Top 4 U.S. Credit Card Issuer Outstandings Up 9.1% YOY – CardData.com

U.S. credit card outstandings end-of-period (EOP) among the Top 4 U.S. issuers gained 9.1% in the third quarter (3Q/16) year-on-year (YOY) to $394.5 billion.  The gain was driven largely by Citibank as its acquisition of the Costco card portfolio from American Express has skyrocketed outstandings. BofA was unseated as the nation’s second largest in the second…

Increased Penetration of International Credit and Debit Cards in Casino Gaming

There has been a significant change in consumer behavior in the global casino gaming market. The increase in the popularity of gambling apps and social gambling are the major factors expected to propel the growth of the market during the forecast period. Vendors are leveraging the growth in internet using population and increasing adoption of…

Commercial Card Improvements: Controls & Compliance and Incentive/Rebate Programs

A new survey reveals numerous areas where Commercial Card providers can both educate and better serve their end-user clients. Solutions available today address top areas of concern such as control and security related to all product types. Solutions including automated compliance monitoring and mobile alerts are not yet commonly adopted by end-users but could address…

WEX Ankles Former Green Dot and Fiserv Executive to Lead Corporate Technology

ME-based, WEX, a provider of corporate payment solutions, has ankled David Cooper for the newly created role of chief technology officer. The role was created to lead all aspects of corporate technology. In this position, Cooper will spearhead corporate IT and platform strategy, enterprise architecture, program management, information security, and IT infrastructure operations. “David brings…

TSYS Fixture Bill Pruett Heads to Retirement as Gaylon Jowers Takes the Reins

TSYS confirmed the retirement of William Pruett as Senior Executive Vice President and President of TSYS’ North America Services segment, effective April 1st. A 40-year veteran of TSYS, Pruett started his career in the merchant area at Columbus Bank and Trust in 1976, and in 2011 assumed leadership of TSYS’ largest reporting segment. Under his…

Credit Cards Play a Vital Role in Small Business Survival & More So in 2017

Four out of five small businesses have a positive outlook and expect 2017 to be a good time to borrow funds to invest in their businesses. Nearly all have some type of business account with a financial institution including eight out of ten who have a business credit or charge card. Mercator Advisory Group fielded…