The pace of change in corporate payments is due to increase in the next decade, and banks are in a position to rise to the challenge. While there have already been advances, consumer payments have benefitted from more rapid payment innovation.
U.S. Bank’s Elan Financial Services has been certified to offer MasterCard’s Automatic Biller Updater (ABU) to its debit card issuing financial institutions.
MasterCard’s (MC) Latin America Caribbean (LAC) region Purchase Dollar Volume (PDV) rose year-on-year (Y/Y) by 20.0% on a local currency basis in the third quarter (Q3/14) to US$57 billion. On a US dollar basis PDV was also up 9.4%, according to CardData.
Credit scores are up, bankcard lending is on the rise, the average number of bankcards per person is up, retail card lending also is on the upswing, and average debt is up.
Sionic Mobile has launched a mobile rewards, payments initiative for merchants located in Atlanta’s Midtown district. With the new Midtown Loyal merchants create compelling promotions for nearby smartphone consumers, accept secure mobile payments and reward customers instantly based on their purchase amount.
MA-based Sentient Jet is offering a special edition of its private aviation Jet Card that includes a holiday package incentive that includes a complimentary $5,000 gift card.
The AARP is beefing-up its discount programs for members with the myAFINITI proprietary member rewards platform. AARP members access brand-specific, point-of-sale discounts through the swipe of their card.
The 2015 top security predictions suggests cybercriminals will accelerate the pace of their credit card data theft with the advent of Chip & PIN technology.
Phillip Dunkelberger is the President and Chief Executive Officer of Nok Nok Labs.
UT-based Box Elder Credit Union has joined the Buzz Points merchant-funded loyalty program. Buzz Points is free for consumers and allows credit union members to earn rewards while supporting the local economy by using their debit and credit cards for everyday shopping.
Elan Financial Services EFT services, processing more than 4 billion transactions annually, signed an agreement with MasterCard® to adopt their U.S. common Debit Application Identifier (AID) specification for the MoneyPass® Network. The MoneyPass Network, by licensing the common AID, will be able to facilitate U.S domestic debit transactions on the network, including contact or contactless, and surcharge-free ATM transactions.
The iPad hospitality ordering system developed by Custom Business Solutions, NorthStar Order Entry system is adding the MagTek DynaPro Mini card swipe and PIN entry device.