U.S. Bank Credit Card Q1 Profits Decline As Charge-Offs Rise

U.S. Bank (USB)’s Payment Services division reported solid growth in gross dollar volume (GDV) as well as credit and debit fee revenue for the first quarter (1Q/17). However, rapidly rising charge-offs depressed credit card income, according to CardData. Acquiring volume continued to decline for the fourth consecutive quarter. USB’s Payment Services includes consumer and business…

All-Digital Payment Service Masterpass Inking Deals From Vending to Africa

Masterpass continues to expand globally reaching into the far corners of the world. Masterpass empowers issuing partners to deliver a bank-branded, all-digital payment solution. More than 80 million accounts have been automatically enabled through issuing partners as the service rolls out globally. The enhanced digital payment functionality helps issuers differentiate existing products, including mobile banking…

BofA Credit Card Unit Continues to Plug Along in Q1 – Charge-Offs Up

Bank of America, the nation’s third largest Visa and MasterCard issuer, continued to struggle in the first quarter (1Q/17) with sluggish outstandings (OUT) and purchase dollar volume (PDV) growth, but other metrics, except charge-offs, remain fairly stable, according to CardData. Pre-tax net income edged up 1.1% YOY to $1224 million in 1Q/17, compared to $1290…

Bank Credit Card Delinquency Slowly Rears its Ugly Head Again

More evidence mounts showing credit card delinquency is steadily rising. The bank credit card default rate recorded a 3.31% rate in March, up nine basis points from February. This is the fifth consecutive month for the ratio to rise. The S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, shows…

VE Kiosk Platform Brings Together ePort, More Loyalty with High Quality Vending Hardware

USA Technologies (USAT has buddied with Vendors Exchange (VE) brings together an industry leader in vending solutions for the convenience marketplace an innovator in next generation payment technology and provider of cashless and mobile transactions in self-serve retail. The partnership has produced the VE Kiosk platform. The VE Kiosk was built on the premise that…

PayRange Taps Into the Most Advanced Vending Machine Market in the World

OR-based PayRange has inked a deal with Sumitomo Mitsui Card Company (SMCC), a major merchant acquirer in Japan to expand the PayRange mobile payment solution to millions of Japanese vending machines. While Japan has among the most advanced vending machine markets in the world almost none of the vending machines take credit or debit cards.…

Online Consumer Payments to Capture 20% of Market; Americans Wary of Cybersecurity

Online commerce payments are growing sharply in developed countries, but in North America there is angst among consumers with cybersecurity. China overtook the US as the world’s largest online commerce market two years ago, with Chinese consumers spending a total of $699 billion online in 2015. About 20% of the total value of online commerce…

Zuora to Electrify the Subscription Economy in Frisco with Subscribed

Zuora’s first annual User Summit begins with advanced training by role – Billing & Payment Ops, Finance Ops, Zuora Admins, IT/Developers, Pricing and Growth Managers. Zuora has been enabling the subscription economy by building the next generation commerce platform. Zuora’s subscription management software has enabled 21st century businesses around the world from startups to enterprises…