Visa (VS) and MasterCard (MC) Global Gross Dollar Volume (GDV) will likely increase 8.3% in the fourth quarter to $3189 billion. CardData projects U.S. GDV will come in at $1122 billion and International GDV will come in at $2067 billion.
Total spending on general purpose credit cards will likely approach $3.0 trillion in 2015 and may top $4.0 trillion by 2019, according to CardData. Next year will be a major transitional period as the U.S. goes EMV and global NFC takes shape.
Fidelity credit cardholders directing their cash rewards into a Fidelity account will average $1,476 in cash rewards in 2014. If they earn a similar sum each year and direct the cash towards a 529 college savings account every year for 18 years, the total rewards accumulated could exceed $26,000, without even factoring in potential compound annual growth.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Kim Fitzsimmons, U.S. Market President for Chase Merchant Services.
U.S. Visa (VS) and MasterCard (MC) credit card U.S. Gross Dollar Volume (GDV) is expected to top $515 billion in the fourth quarter. In the third quarter VS and MC credit card GDV grew 10.7%.
Purchase Dollar Volume (PDV) on U.S.-issued debit cards by Visa (V) and MasterCard (M) is expected to slightly increase in the fourth quarter to $477 billion. Debit PDV jumped 7.6% year-on-year (Y/Y) in the third quarter of 2014 (Q3/14) to $452 billion, according to CardData.
Chargebacks911 has landed Michael Caruana as Vice President of Business Development who will run its New York office. Carrion has 20 years’ experience with MasterCard, ReD and SilverTail.
ME-based CashStar has teamed with PayPal to integrate CashStar-powered digital gift cards from its large network of top retailer and restaurant brands in the eBay marketplace and the PayPal Digital Gifts store.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Stanley Linkous, Senior Vice President for Primax.
Staples says the breach that occurred this past summer affected 1.16 million credit and debit cards. Staples’ data security experts detected that criminals deployed malware to some point-of-sale systems at 115 of its more than 1,400 U.S. retail stores.
AZ-based 5th Dimension Logistics has added the Card Account Updater feature to its 5th Dimension Payment Gateway. The Account Updater enables merchants to automatically retrieve updated credit card information when consumer’s cards expire while subscribed to a recurring billing plan.
The latest American Express Spending & Saving Tracker finds
more than three in four Americans find re-gifting socially acceptable. Also, the day after Christmas is becoming a more popular day to hit the stores than Black Friday.