Data leaks and phishing attacks continued unabated. Account information (40%) was the primary target of hackers in 2014, followed by credit card information (20%). The United States was hit harder than any other country when it came to data breaches.
While some Apple Pay critics scoff at the low number of retailer locations available as its coming demise, others argue that writing off Apple Pay for its slow initial adoption misses the forest for the trees.
Citibank’s average yield for its U.S. retail credit card portfolio rose 33 basis points (bps) in the first quarter, compared to one-year ago, and up 16 bps sequentially. The net interest revenue (NIR), which includes some fees, also jumped by 49 bps year-on-year (YOY) for Q1/15 and up slightly from the prior quarter.
The number of U.S. debit cards issued on the Visa, MasterCard, American Express and Discover networks is expected to reach 856 million by year-end 2019. According to forecaster RAM Research, the U.S. debit card industry is growing at a CAGR of 6.04%.
MasterCard and IFC, a member of the World Bank Group, are establishing a risk-sharing facility, which is expected to provide millions of people in emerging markets access to electronic payments. It is all part of an effort to increase universal financial access by 2020.
The five million members of the Fuel Rewards program can now link their loyalty, credit, debit and prepaid cards to their smartphones. These capabilities will be complemented by the May 2015 roll-out of the company’s next-generation card-linked offer (CLO) program, which allows members to link any debit or credit card to the loyalty program.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Rick Weller, Executive Vice President and Chief Financial Officer of Euronet Worldwide.
CardWeb.com’s CardPixes database of more than 7,000 images today features the Barclaycard Black Visa card.
San Francisco-based Credit Karma is expanding to offering “thin file” consumers access to the information in their credit files and details on why they do not have a credit score. The information site will also offer recommendations.
CardWeb.com’s CardData database of Company Profiles features Welcome Real-time.
CardWeb.com’s CardConferences today features the NCCR Conference, June 1-3 at Hyatt Regency in New Orleans.
While the first release of Apple Watch will attract gold-standard customers: high income, younger, and extremely engaged in digital banking, payments, and shopping, the second wave of adopters will likely follow in 2016 year, which could be the real test for apple.