CardWeb.com’s CardExecs database of payments industry movers and shakers today features George Frazis, Chief Executive, Consumer Bank of Westpac Australia.
Today’s loyalty programs need to strengthen interactions with the customer and increase loyalty by enabling enhanced services and rewards, such as: real-time customer identification in-store to enable guided selling; customized rewards based on customer preferences; and gamification to engage customers and encourage social interaction.
A majority of small business owners are unaware of the impending EM liability shift coming in October. Less than half of small business owners who accept point-of-sale card payments today report being aware of the October 1 liability shift, the date when a card issuer or merchant that does not support EMV chip card technology will assume liability for any fraudulent point-of-sale card transactions.
Toast founders started with a mobile payments app for restaurants but quickly learned that for restaurants to adopt new technology and for consumers to have a good experience, they would need to start with the POS systems themselves.
CardWeb.com’s CardWatch database of more than 57,000 marketing items today features the MasterCard “#OneMoreDay of Travel: Priceless” TV spot.
CardWeb.com’s CardConferences today features the PayThink Conference at The Cosmopolitan in Las Vegas.
Pipestone System, an agricultural organization based in Minnesota, now uses the reloadable BlazePays Visa Prepaid Card managed by Capital Prepaid Services for payroll.
In today’s CardFlash News Que: RAND (One Payment); PAYITSIMPLE (award); WIRECARD (Sparhandy); and THREATMETRIX (cities).
During this decade, the average debit cardholder increased usage of debit at the POS by 32%. In the same timeframe, card use for ATM withdrawals declined by 41%.
Global purchase transactions (PTX) for Visa and MasterCard debit and credit cards, excluding Visa Europe, soared 12.6% year-on-year (YOY) in the second quarter (Q2/15) and 8.6% sequentially. MasterCard continues to drive the market with an 17.4% YOY gain in PTX, compared with Visa’s 11.0% YOY PTX gain.
Fraud losses incurred by banks and merchants on all credit, debit, and prepaid general purpose and private label payment cards issued worldwide reached $16.31 billion last year when global card volume totaled $28.844 trillion. This means that for every $100 in volume, 5.65¢ was fraudulent.
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