While the annual rate of increase in U.S. revolving credit has been slowing during all of 2014, there was a slight uptick in November. Consumer revolving credit expanded by $500 million in November, representing a 7.5% annual increase.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Regulation and legislation have again effected every portfolio revenue variable: including total revenue, interest income/fee income split, thus seeing issuers respond by assessing new fees and repricing existing fees, where permissible. However, R.K. Hammer’s annual state-of-the-industry report notes the CFPB still has yet to fully catch its stride, so even more…
Businesses can now pay their vendors through a collaboration announced today by Behalf, Comdata and MasterCard. The initiative helps improve cash flow for SMBs by providing alternative payment terms for their payments to merchants that accept MasterCard and are approved for participation by Behalf. Behalf will pay an SMB’s vendor invoice of up to $10,000 per purchase, and the SMB then pays Behalf back over up to 120 days. SMBs receive favorable rates and terms while their vendors benefit from more rapid cash flow, lower risk of fraud, fewer credit losses and increased sales. The offering extends Behalf’s product benefit by adding the ability to use a unique, secure virtual card for both point of sale and online purchases while receiving convenient payment terms.
Minneapolis-based APG Cash Drawer is introducing new cash recycling technology along with purpose built European products. Feature rich and purpose built for retail, the new technology will effectively serve restaurants, quick serve, supermarkets, c-stores and more.
Misys software has been awarded the SWIFT Certified Application labels for trade, supply chain finance and corporate supply chain finance. Having won the recognition for the seventh consecutive year, Misys was namely awarded for its FusionBanking Trade Innovation and FusionBanking Corporate Channels, FusionBanking Trade Innovation and FusionBanking Corporate Channels – Supply Chain Finance and FusionBanking Corporate Channels – Corporates-Trade Supply Chain Finance. Misys’ dedication to SWIFT best practices over the years has ensured the firm’s trade services platforms are compliant with the latest standards in trade finance. In upcoming releases this will include support for the SWIFT FATF 16 changes, due in 2015 as part of SWIFT’s roadmap to address financial crime in payments and trade finance.
While the payments industry is ablaze with mobile payments technology and potentially huge profits, it will not come to fruition unless consumers are educated on the performance and ease of use of mobile pay services.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Fred Brothers, Executive Vice President of Strategic Innovation of FIS.
San Diego-based PayLease has added a retired Morrison & Foerster attorney to its Board. PayLease, is a provider of electronic rent payment services for the property management industry.
A new credit card processing service has been introduced offering a free POS terminal that automatically applies surcharges to credit cards and provides customers with itemized receipts.
IL-based Zebra Technologies has unveiled a crop
of nine new products, solutions and services in the wake if its acquisition of Motorola Solutions’ Enterprise Business in October 2014. Most notably the Zebra PD40 mobile payment solution which supports mobile payments anywhere in the store using virtually any type of payment card.
Comprion test solutions for cell phones, extends its involvement in EMVCo activities. Testing for mobile payment is now required by the mobile operator association GSMA through their NFC Handset Test Book. Comprion joins EMVCo as a Technical Associate. The company offers its experience and expertise in detecting communication problems of the contactless interface used for mobile payment. Paying by cell phone is certainly a convenient way of purchasing everyday commodities; however, it is also a sensitive topic as the user’s private banking data are involved. A high degree of reliability of the deployed technology relying on comprehensive testing is the key success factor. Without testing, technology problems might lead to a lack of user acceptance. Therefore, the GSMA TS.27 NFC Handset Test Book demands that handsets to be used for mobile payment have to run through the EMVCo test plan.
CardWeb.com’s CardPixes database of more than 7,000 images today features the Simmons First Travel Rewards Platinum Visa.