[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MI-based credit card processor North American Bancard has ankled Jim Parkinson as chief information officer. In his new position, Parkinson will be responsible for the company’s IT operations, including IT engineering, PMO and the IT products and strategy teams. Parkinson comes to NAB with extensive experience with digital projects and strategies,…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] FREEDOMPAY – FreedomPay has launched of Pay-At-Table solution with PCI Validated Point-to-Point Encryption (PCI P2PE). Available on Ingenico Group’s iWL 258 wireless smart terminal and powered by FreedomPay’s payment gateway, the Pay-At-Table solution is a fully integrated solution with the point of sale at the merchant’s location. In 2016, FreedomPay will…
In 2016, every business is a digital business. Traditional businesses will be vulnerable to disruption, and emerging industries will face new threats. With cyberattacks costing businesses about half a trillion dollars – conservatively – in 2015 alone. What does 2016 hold?
Next year will be full of complex challenges for pay-now product experts, as the last decade has been. Indicators suggest that less effort will be wasted on legal entanglements and arbitrary requirements and more thought and effort will be focused on improving the user experience, improving payment security, and solving real payments problems.
CardWeb and CardFlash has huddled its writers and editors and offers the 2016 “Nifty 50” list of payment related companies to watch next year as they make more disruptions to the payments industry. Ranking is irrelevant but all are equally relevant.
International cash transactions (CTX) for Visa and MasterCard credit and debit cards grew by 8.3% year-on-year (YOY) in the third quarter (3Q/15). International CTX for credit cards decreased 6.9% YOY while international CTX for debit cards rose 9.5% YOY in 3Q/15.
Among the top 4 U.S. bank credit card issuers Chase holds a commanding 24.7% marketshare, based on Visa and MasterCard purchase dollar volume (PDV) figures. Capital One, the hottest U.S. issuer, ranks #2 with a 12.4% marketshare.
Capital One’s (COF) international credit card outstandings, not currency adjusted, increased 6.7% year-on-year (YOY) in the third quarter (3Q/15), while purchase dollar volume (PDV) soared 60.5% YOY. Delinquency dropped 69 basis points (bps) and charge-offs sunk 152 bps YOY.
U.S. gross transactions (GTX) for Visa and MasterCard credit and debit cards grew by 9.8% year-on-year (YOY) in the third quarter (3Q/15). U.S. GTX for credit cards jumped 12.2% YOY while U.S. GTX for debit cards increased 8.8% YOY in 3Q/15.
The Big 6 issuers, based on U.S. outstandings of $925 billion, controlled 51.8% of the U.S. bank credit card business at the end of the third quarter. Chase led the pack with a 13.7% share followed by Bank of America (BofA) at 9.5%; Capital one (COF) at 8.9%; Citibank (Citi) at 7.0%; American Express (AXP) at 6.7%; and Discover (DS) at 6.3%.
U.S. Credit Cards-in-Force (CIF) among the Top 4 issuers were slipped 0.5% year-on-year (YOY) at the end of the third quarter, down 1.1 million (estimated) cards to 229.9 million cards.
Purchase transactions (PTX) for Visa and MasterCard credit and debit cards in the U.S. grew by 11.2% year-on-year (YOY) in the third quarter to 19.439 billion.