U.S. credit card average tickets for purchase transactions on Visa credit cards are up a mere 0.7% compared to one-year ago and declining for three consecutive quarters. Meanwhile, MasterCard average purchase tickets on U.S. credit cards are up over the same period, but remain lower than the first quarter.
Although cardholders continue to rack-up their credit card debit, at least they continue to pay their bills on time. Prime charge-offs are anticipated to decline for the seventh straight month to the lowest observation in the near 23-year history of the Fitch index, even as total outstanding revolving US consumer credit is up 5.25% from…
Purchase dollar volume (PDV) on Visa credit cards in Latin America Countries (LAC) has been slowing for the past year. After climbing 20.6% in the fourth quarter of last year, year-on-year Visa LAC growth declined to 16.3% in the third quarter. MasterCard’s growth in Latin America increased 23.6% in the third quarter, its highest level in two years.
NCR Corporation has signed a definitive agreement to purchase Digital Insight Corporation online and mobile banking solutions for $1.65 billion and completed the acquisition of Alaric Systems Limited for $84 million. These companies complement and extend NCR’s existing capabilities in the banking industry to form a complete enterprise software platform that will deliver a unique and compelling consumer experience across all digital and physical channels – mobile, online, branch, and ATM. The combination will help retail banks and other financial institutions reduce legacy costs and enable solutions for new, more nimble branches, by providing one platform for omni-channel services and all payment and transaction types. The acquisitions together will also position NCR to deliver an enterprise software stack that securely and seamlessly creates a differentiated consumer experience across all channels (online, mobile, ATM, branch) improving a retail bank’s growth, profitability and customer satisfaction. Alaric Systems payments processing and fraud prevention software allows financial institutions, processors and retailers to manage ATM, point of sale, ecommerce and mobile payment or banking transactions, deliver complex multi-channel payments integration and carry out enterprise fraud and risk management.
Aconite is proud to announce that its Smart EMV Manager EMV card authorization systems is under production through Fiserv Inc. Aconite’s Smart EMV Manager preserves the investment made by issuers and processors in their authorization platforms by providing fully-featured EMV capability in an easy-to-integrate plug-in solution. Fiserv is utilizing Smart EMV Manager to bring advanced EMV processing to its already sophisticated environment. With Smart EMV Manager, Fiserv can process EMV transactions across multiple card products and establish the foundation for enhanced chip capabilities as these are introduced in the marketplace.
Consumers in select countries can buy American products from U.S. retailers and ship them abroad using PayPal and MyUS.com in 13 countries. The company is also offering a discounted membership fee and shipping incentive for ALL new customers that sign up prior to December 20th. MyUS.com already serves global customers in over 220 countries and handles millions of packages annually. MyUS.com makes it easy and secure for consumers worldwide to shop US retailers and save up to 80% on international shipping costs. Consumers pay for shipping using credit card, check, money order, wire transfer and now PayPal. MyUS.com is offering 50% off its premium membership fee for year one and 20% off its first shipment for ALL new members (all countries) that sign up before December 20, 2013. Offer good for new members only; 20% discount does not apply to USPS shipments. To take advantage of this offer, visit www.myus.com/paypalpromo or use coupon code “paypalpromo” when registering.
AOC Solutions commercial payments technology and services announced KeyBank has selected its “EnCompass” payments platform for its customers’ commercial card management and reporting. With this, KeyBank will offer its business customers AOC Solutions’ fully hosted, PCI-compliant commercial payments solution, EnCompass, as a one-stop online payment tool to help their business customers manage corporate purchasing/accounts payable (A/P), fleet, travel and entertainment, and purchasing card programs. KeyBank’s customers will also be able to obtain detailed statements and automatically analyze their spending using advanced metrics and reporting features. To access the EnCompass platform, which will be white-labeled as Key2Purchase to reflect the KeyBank brand, users will simply log in via browser using their assigned credentials.
Oberthur Technologies digital security solutions partnered mBank mobile financial inclusion to offer mobile branchless banking in emerging markets. Banks and mobile operators need to adapt to deliver the right banking offer to the unbanked population. MoreMagic and mBank’s expertise in branchless banking services, the partnering companies have created an extended mobile branchless banking offer. The m:Wallet™, that has already supported a large number of services such as merchant payment and money transfers for more than a decade, will now include a full range of micro-finance services such as loan, credit and insurance. On top of this enriched wallet, the solution will also include core banking and back-office capabilities for operating the branchless bank, risk management tools and business consulting skills.
Thoma Bravo private equity investment firm sold its Digital Insight Corporation digital banking to NCR Corporation. With a ticket price of $1.65 billion, the sale is projected to close in 1Q/14. Digital Insight, formerly Intuit Financial Services, a division of Intuit, Inc., was acquired by Thoma Bravo in August of 2013. Kirkland & Ellis LLP served as legal advisor to Thoma Bravo.
China Mobile purchased Fime’s EMV contactless analogue test bench, which will also offer consultancy services and carry out pre-certification vendor handset testing. Advanced secure chip testing and tool provider FIME will provide the test equipment to China Mobile and undergo a period of consultancy in order to support the deployment and continued management of the tool. Pre-certification handset testing will take place at FIME Asia’s laboratory where it will also provide near field communication (NFC) handset certification consultancy, expediting the testing cycle and overall time to market.
AIRTAG mobile shopping solutions collaborated with PayPal to bring new seamless features to the KFC Fast Track mobile wallet. Launched by KFC UK & Ireland and AIRTAG earlier this year, Fast Track enables customers to order and pay in advance for their meals before they arrive at the restaurant. Now, Fast Track users can login and check-out with PayPal making the transaction even faster and easier. Customers can create a Fast Track account using their existing PayPal account details by simply entering their username and password bypassing having to enter personal and bank or card details because, like any PayPal transaction, this information is stored securely within their PayPal account. KFC UK & Ireland chose AIRTAG’s AIRSHOP white label mobile wallet solution to launch Fast Track. Fast Track enables KFC customers to order and pay using the website, web app or mobile wallet from anytime and anywhere.
Monitise has deployed and launched, with regulatory approval, its globally recognised Mobile Money platform with full access for Chinese speakers. ‘Easy TopUp’ offers a simple, secure and convenient real-time mobile service to top up PCCW-HKT pre-paid SIM cards with payment taken direct from their bank account, as opposed to purchasing vouchers from convenience stores. The green light to launch the service follows the granting of regulatory approval by the Hong Kong Monetary Authority and comes as Monitise joined more than 100 British companies accompanying Prime Minister David Cameron in China on a trade mission to secure new business opportunities. The service will be supported by JETCO providing access to a real-time guaranteed source of funds through its payments switching capabilities with member banks. It is based on Monitise’s proven technology platform, which accounts for billions of transactions annually and is already used by millions of consumers around the world.