TN-based EFT Source reports NJ-based Atlantic Stewardship Bank after implementing the Card@Once system realized a 7.32% year-over-year increase in interchange revenue within the first month. EFT Source is a provider of turnkey card programs and personalization services for ATM and debit cards for financial institutions.
Bank credit card purchase dollar volume (PDV) increased 8.6% year-on-year (Y/Y) and 0.7% quarter-on quarter (Q/Q) in the third quarter (Q3/14), as outstandings continue to contract. The change in consumer behavior is significant for issuers who rely on interest income to subsidize purchase-based reward program expenses, according to CardData.
No surpise — but rewards or offers continue to be the biggest controllable factor to influence the card of choice. Also, consumers are concerned about the security of their payment cards and are increasingly aware of security related features including mobile fraud and risk tools.