U.S. credit card margins and yields have largely been holding steady over the past year. However, Citibank reported that its net credit margin for credit cards rose 89 basis points in the third quarter to 11.16%. Net credit margin is total revenues, net of interest expense, less net credit losses and policy benefits and claims. Chase reports its total net revenue for credit cards declined slightly from 12.46% one-year ago to 12.22% in the third quarter of this year. Total net revenue is a percentage of average loans.
Visa Inc. launched “Everywhere you want to be,” a multi-stakeholder communications platform that reflects our ambition to deliver universal access to Visa’s secure, reliable and convenient digital payments. For decades, Visa, the global digital payments network, has been driven by a set of ideals anchored in our vision of being the “best way to pay and be paid.” This has expanded in recent years to include “for everyone, everywhere.” By evolving our famous tagline – “It’s everywhere you want to be” – the company is recommitting to these ideals and vision for consumers, merchants, governments, financial institutions and employees with a unified message tailored to each audience.
Online privacy company Abine is providing Masked Credit Cards for free to exposed shoppers for their next online or offline purchases. Masked Credit Cards enable consumers to shop without ever revealing their actual credit card number. The result? 100% protection from data breaches. Abine’s Masked Credit Cards protect your existing credit cards by providing an alternative to giving out your real credit card for purchases. Masked Credit Cards have completely unique 16-digit card numbers, expiration dates, and security codes, so the places you shop never get your real credit card info. These cards are one-time use only, can be created with any existing debit or credit card, and expire right after you use them.
OceanFirst Bank has chosen ATM software and hardware solutions from NCR Corporation in order to deliver an omnichannel banking experience. OceanFirst Bank’s online and mobile banking experience is provided by Digital Insight, the leading provider of digital banking services, which NCR acquired in January 2014. OceanFirst Bank will install more than 20 NCR SelfServ ATMs with scalable deposit module (SDM). SDM allows bank customers to deposit cash and checks in a mixed bunch and as a single transaction to make deposits significantly twice as fast as typical ATM deposits. In addition, the bank will install NCR marketing software, including APTRA Connections, Promote and Exchange, to help personalize the ATM customer experience and deliver targeted promotions over the network.
Better ATM Services announced it has finalized a reseller agreement with Advanced Network Inc. As a result of the agreement, ANI becomes a member of Better ATM Services’ reseller network and will offer Better ATM Services’ patented technology and ATM-issued Visa gift cards to more than 60 financial institutions and their 600 ATMs in California. ANI has been providing California financial institutions with state-of-the-art ATM services since 1979. The company offers clients 1st and 2nd service, cash delivery, cash management, image and envelope deposit processing, ATM cleaning, AB244 light surveys, and call center services. In addition, ANI is an authorized NCR sales and service provider.
Payment Alliance International and BECU jointly announced today that they have entered into an agreement to brand 138 ATMs located at Rite Aid stores in Washington state. PAI will own and operate all of the ATMs inside Rite Aid stores. BECU members will enjoy surcharge-free access and convenience at BECU-branded ATMs in Rite Aid stores for cash-only transactions. The agreement creates one of the largest ATM networks in the area with more than 300 BECU-branded ATMs in the Puget Sound region and 350 plus BECU-branded ATMs in the state of Washington. PAI operates one of the largest ATM networks in the United States, with equipment at more than 60,000 retail locations across the country. As part of the network, the company provides ATM services for approximately 1,500 Rite Aid locations nationwide.
Checkpoint Systems and RGIS, LLC, announced at the NRF 103rd Annual Convention & Expo that they have entered into a global partnership to bring the full RFID-based inventory management solution to retailers. The end-to-end solution incorporates the best-of-breed Merchandise Visibility Solution from Checkpoint, together with RGIS’s global team of inventory specialists. Checkpoint’s Merchandise Visibility Solution includes OATSystems software, RFID hardware, RFID tags, RFID-trained field engineers to deploy and support the implementation, RFID-based EAS leveraging the OneTag approach and Wirama Radar and RFID-based POS solutions and compliance tools.
Starmount announced version 3.0 of Starmount Connect, an advanced omni-channel commerce and customer engagement platform, and version 3.0 of Starmount Engage, the industry’s leading mobile selling solution for retailers. Starmount Connect and Engage allow retailers to meet rising consumer expectations in an omni-channel world by using mobile devices to engage their customers and deliver a personalized, highly relevant selling experience where the majority of retail sales take place ” in the store aisle. Starmount Connect brings together the data and capabilities to connect retailers’ stores, Web site, warehouses and distribution centers, with the out-of-the-box infrastructure, integration, data distribution and enterprise services that are required to drive omni-channel operations.
As the credit card industry is still digesting the Target breach, what it means for customers, and how much it will cost, it looks like there was another victim over the holidays. Neiman Marcus confirmed over the weekend that it appears some of their credit card information from customers was breached and then used fraudulently . There is no official release of specific data compromised or how many people it may have affected.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] First Data released its “SpendTrend” analysis for Dec. 3, 2013, through Dec. 30, 2013, compared to Dec. 4, 2012, through Dec. 31, 2012, tracking same-store POS data by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks from nearly four million client U.S. merchants. Dollar volume growth of 6.1%…
Leading card industry advisor, R.K. Hammer, just released their estimate for card deals done in 2013, and forecast for 2014. It is estimated that ten portfolios worth $17.2 Billion were involved, according to Hammer. This was down from year end 2012 numbers, when an estimated $33 Billion in 37 portfolios were done that year.
Visa launched “Everywhere you want to be” multi-stakeholder communications platform designed to deliver universal access to Visa’s secure digital payments. In the 21st century, “everywhere” transcends card usage at physical locations. It’s about realizing potential and achieving dreams. “Everywhere” now is relevant for a farmer in Rwanda paying school fees on his mobile phone, a jewelry designer in California selling to a global online customer base or a government official in Brazil rebuilding a village using a Visa prepaid card. With a new tagline, as well as a refreshed brand logo, Visa is introducing a new visual identity for one of the most recognized and powerful brands in the world. Visa’s first new spot under the “Everywhere you want to be” tagline is entitled “Flying,” and features U.S. Olympic women’s ski jumping hopeful and Team Visa athlete, Sarah Hendrickson.