More than six billion VantageScore credit scores were used in the 12-month period running from 3Q/14 to 2Q/15. The Company says it is a 100% increase over the previous 12-month period.
CardFlash News Briefs: FDC (NCR); Nuspay (Nepal); ALLIED WALLET (j2Store); and AMEX (UAE).
Cash transactions (CTX) for Visa and MasterCard credit and debit cards in the U.S. grew by 0.8% year-on-year (Y/Y) in the third quarter. Visa cash transactions are growing at a year-on-year (YOY) rate of 0.5%, compared to MasterCard’s 1.5%, according to CardData.
Fraud average ticket value (ATV), or a retailer’s average size of individual sales by credit card, has decreased by $9.00 over the past year from $282 to $273, however the frequency of fraud has increased and it is also driven by lower shipping costs.
Nodus Technologies’ PayLink developed by Professional Advantage, Collections Management for Microsoft Dynamics GP speeds up the collection process, decreases security risks, and provides customer convenience. it has the processing power to improve cash flow, diminish collection time and reduce bad debt.
Barclaycard has unveiled the launch of its unlimited cash rewards credit card, the Barclaycard CashForward World MasterCard. Cardholders earn unlimited 1.5% cash rewards on every purchase and a 5% redemption bonus to use toward their next redemption every time they redeem.
Revel Systems, an iPad POS specialist, has snagged a big strategic partner deal with Cinnabon, a national bakery.
Synchrony Financial is now officially separated after GE stock exchange for $20.4 billion. The consummation of the exchange offer completes the transition of Synchrony, the largest provider of private label credit cards in the United States*, to an independent, standalone company.
The campaign by retailers to prod the card networks and banks to move to total Chip & PIN in the U.S. and away from Chip & SIG is gaining more traction. A group of nine attorneys general dispatched a letter to the nation’s top credit card companies and banks.
Chase Pay has hooked up with 18 tech companies to accelerate merchant acceptance. Chase Pay uses QR Codes.
A new study has discovered American consumers want more from their banks than apps — they want advocates. Also, 70% of consumers across all generations (85% of millennials) believe banks current with the latest technology are more trustworthy than banks that lag.
Tencent’s WeChat has become the first social communication application to provide a technology platform to support person-to-person cross-border money transfer capabilities to more than 200 countries and territories. WeChat U.S.users can now access Western Union’s WU Connect platform.