Gross Dollar Volume (GDV) for debit cards among MasterCard’s international regions declined in the first quarter to 20.8%, compared to 22.9% in the year ago quarter on a currency adjusted basis (FX), according to CardData. RAM Research projects the year-on-year (YOY) growth in Q2/15 will rise 60 basis points (bps).
National Payments Corporation of India (NPCI) and JCB International (JCBI) have inked a deal for acceptance of JCB card at all NPCI acceptance locations under the NPCI network, which has 1 million card merchants and 200,000 ATMs across India.
Updated figures, based on regression analysis, shows gross dollar volume (GDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) globally will rise 7.1% on a currency adjusted basis (FX) for the second quarter. RAM Research projects global GDV of $3587 billion for the second quarter.
Due to exponential smoothing purchase dollar volume (PDV) for Visa, MasterCard, Discover and American Express U.S. credit cards is expected to exceed $4.2 trillion annually by year-end 2019. According to forecaster RAM Research, the U.S. PDV for the U.S. credit card industry is growing at a CAGR of 10.1%.
YapStone announced RentPayment, its online and mobile payment solution for the apartment rental industry, will now report rental payment information using TransUnion’s Resident Credit. The integration with ResidentCredit will offer a prompt, seamless reporting process for property managers and residents.
MasterCard is teaming with Premier Bank, becoming the first international payments network to enter Somalia. Premier Bank will now issue and accept the first MasterCard-branded payment cards in Somalia, a country that hasn’t had any form of formal banking service since the collapse of the government and financial services system in 1991.
eBay’s board of directors has approved the completion of the previously announced separation of eBay and PayPal into independent publicly traded companies. Subject to the satisfaction of the conditions to the distribution, the distribution of PayPal common stock is expected to occur on July 17.
The recent loss of Ed Gilligan at American Express has spurred CEO Ken Chenault to make major changes. The changes include the realignment of several businesses and reporting lines.
Brooks Brothers and Citi Retail Services have inked a new multi-year credit card relationship. As part of the agreement, Citi Retail Services, a unit of the 203-year-old global bank, will provide private label and co-branded credit cards for the nearly 200-year-old retailer.
FL-based ZipLine, a merchant-branded mobile and ACH payment solutions provider offering consumers instant rewards at the pump and POS, announced the appointment of consumer loyalty and payments veteran Roger Brooks, as Senior Vice President of Business Development.
Worldpay announced that its Dynamic 3D Secure (3DS) solution will soon be available to merchants. The solution offers e-commerce businesses greater transaction acceptance success whilst giving them more flexibility and control over fraud prevention.
CardWeb.com’s CardData Reports today features the “QR Codes: The Story in Numbers 2014” from Research & Markets.