U.S. bank credit card active accounts (accounts with sales activity) grew 16.8% year-on-year (Y/Y) and 13.4% quarter-to-quarter (Q-Q) in 2014. This comes despite the slight erosion in gross accounts of 1% by Chase, Bank of America and Citibank last year.
MasterCard (MC) Canada’s Gross Dollar Volume (GDV) rose year-on-year (Y/Y) 10.5%, on a local currency basis, in the fourth quarter (Q4/14). Growth exploded in the fourth quarter despite surveys showing Canadians reined in their wallets for the holiday season.
It is likely American Express will continue to lose U.S. marketshare to Visa (VS) and MasterCard (MC) in the first quarter, with MC doing the most damage, according to forecaster RAM Research. The AmEx erosion will continue throughout 2015 and will be impacted in the second quarter of 2016 when AmEx ends the Costco card, which accounts for 10% of AmEx Cards-in-Force (CIF).
GA-based Agilysys has beefed-up its POS software solutions to include a number of enhancements designed to boost efficiency, increase revenue and improve guest service, including support of Apple Pay, new mobility options and more.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Pattie Money, senior vice president of human resources of Mercury.
Bluefin Payment Systems and Small Business Workbench have teamed to provide Bluefin’s PayConex and QuickSwipe PCI-validated Point-to-Point Encryption (P2PE) solutions to Small Business Workbench® clients.
Profits (after tax) among the nation’s top four bank credit card issuers declined 9.0% in the fourth quarter (Q4/14), compared to one year ago (Y/Y) and down 4.3% sequentially (Q-Q). However, after adjusting for abnormal loan loss provisions in Q4/13, profits were up an estimated 8.4% Y/Y.
The jury is still out on the implications of the PayPal Paydiant acquisition and how it could affect its relationship with the Merchant Customer Exchange (MCX) and its CurrentC Network. However, a credit union service organization sees itself a clear winner from the deal.
The nation’s leading credit union service organization (CUSO), was honored as a finalist for the Stevie Award for Contact Center of the Year in the ninth annual Stevie Awards for Sales & Customer Service. PSCU claimed the bronze Stevie Award in the Financial Services Industries category for contact centers with over 100 seats.
Citibank inked a 10-year agreement to align its consumer proprietary credit and debit portfolios to the MasterCard network this year. However, Citi says it will continue to work with other networks, including on consumer co-brands and commercial cards.
Card payments acquirer, Merchants’ Choice Payment Solutions’ (MCPS) has buddied up with Powa Technologies to integrate platforms, providing a robust, fully integrated and secure tablet-based POS solution for retail and restaurant industries.
Florida remains the top state for per-capita fraud and identity theft complaints. The Panhandle State also accounted for nine of the top 20 metropolitan areas in per capita identity theft complaints.