US Debit Card Growth

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] While Visa is the “King” of U.S. debit cards with a 71% share in the third quarter, MasterCard is slowly making in-roads after missing the mark in 1999. In the third quarter Visa posted $402 billion in U.S. debit card gross dollar volume( GDV), compared to MasterCard’s $164 billion. Visa’s U.S.…

Conference Board Index Sees Fifth Consecutive Month of Growth

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Having increased the past five consecutive months, the Conference Board Leading Economic Index for the U.S. was up 0.8% in November to 98.3 after a 0.1% increase in October and a 0.9% increase in September. This helps lift the six-month annualized growth rate to 5.1% from 3.7% in the previous six…

Credit Card PDV

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Credit card purchase dollar volume (PDV) is slowing due to anemic holiday sales. Year-on-year growth is expected to decline to 8.2%, compared to 8.4% one-year ago. Citibank reported purchase dollar volume on credit cards rose a mere 1% from $19.1 billion one-year ago to $19.2 billion in the third quarter of…

Americans Focusing on Cleaning Up Credit

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Americans are getting their financial houses in order by paying closer attention to their credit scores and managing their debt, according to the inaugural “How America Buys and Borrows” survey by Wells Fargo & Company. Indicating Americans are focused on managing their credit, with nearly 60% having checked their credit score…

MoneyGram Hits 200-Country Milestone

MoneyGram reached a company milestone and is now offering services in 200 countries and territories worldwide. The achievement follows new agreements with agents in Equatorial Guinea and Myanmar. The move to include MoneyGram services in Equatorial Guinea and Myanmar strategically targets previously underserved customers, and aims to bring customers closer through money transfers that can be made to and from locations across the globe.

CashStar Announces Latest Gift Card Program Client

CashStar launched its eGift card program with Hacienda Colorado, giving consumers the option to personalize and send digital gift cards online and via mobile devices from the restaurant known for its signature Mountain Mex cuisine. The restaurant selected the CashStar platform because of its best-in-class platform and ease of implementing promotions to drive purchases and incremental revenue. The CashStar platform enables consumers to easily select the design and denomination for each eGift card, include a personal message, and determine delivery date and time all through Hacienda Colorado’s website. In addition to CashStar’s high-quality Web-based gifting experience, the platform also provides a specifically designed user interface for mobile devices.

MoneyGram Announces Latest Agreement Renewal

MoneyGram renewed an agreement with Albertsons LLC to offer services at more than 600 locations across the U.S. The renewed agreement with Albertsons LLC includes provisions for a system upgrade which will allow customers to interact face-to-face with customer care agents while completing their MGI transactions. The agreement also includes provisions for fresh signage that will direct customers to the service desk for all MoneyGram support.

Q2 Deploys Virtual Banking Platform

Q2 secured virtual banking and Urban Partnership Bank deployed upbAnywhere for online and mobile banking. Using the Q2platform, Urban Partnership Bank account holders can now securely access their bank accounts and manage money whenever and wherever they want using a computer, tablet or mobile phone. Q2’s technology offers Urban Partnership Bank convenient, round-the-clock banking for the underserved and under-banked populations of Chicago and Detroit. Q2 helped Urban Partnership Bank implement Anytime, Anywhere Access, mBanking and Better Record Keeping.

SmartAction’s Artificial Intelligence IVR Solution PCI Certified

Smart Action Company has been awarded PCI DSS certification from the independent Qualified Security Assessor (QSA) firm, Tevora Business Solutions. The certification comes after a lengthy audit of every aspect of the technology and operations of SmartAction. The certification process verified that the company meets all Payment Card Industry security requirements (PCI DSS 2.0) as a service provider. SmartAction first earned PCI certification in 2011. The artificial intelligence based system handles many types of voice self-service including: order processing, customer service, scheduling, and billing-related calls in natural speech at a fraction of the cost of live agents – all within the industry-recognized security guidelines established by PCI.

DNA Opens EMV Toolbox to Providers

The critical mission to develop a common solution for EMV in the U.S. received a significant boost last week as the Debit Network Alliance was founded. In a much-needed move, 10 of the country’s 18 PIN-debit networks came together to provide a structure for the governance, deployment and implementation of the EMV debit standard. This is a first step to the crucial collaboration that can propel EMV forward quickly, efficiently and in a way that protects the interests of all the parties that keep our complex payments system humming. To truly realize the value EMV can bring the U.S. payments system, all networks must participate in the development of a communal ” and compliant ” standard. Without it, three “must-haves” ” merchant routing choice, issuer portability and healthy industry competition ” are at risk. DNA aims to make each of the EMV tools in the payments toolbox accessible to everyone.

USA Technologies Awarded 87th Patent

USA Technologies announced that the U.S. Patent Office has granted its 87th patent. U.S. Patent 8,596,529, titled Interactive Interface Effectuated Vending, adds to the collection of intellectual property USAT has accumulated over a number of years as self-serve retail markets, such as vending, transition from cash-only to cashless and other value-added offerings enabled by a connected technology platform.