Among the nation’s top six credit card issuers charge-offs for the third quarter (Q3/14) of 2.49% are down 51 basis points (bps) year-on-year (Y/Y) and down 15 bps, quarter-to-quarter (Q/Q). However, the trend may reverse in the fourth quarter as delinquency took a turn North in the third quarter.
A mobile payments war is underway big time as Rite Aid and CVS block Apple Pay in favor of the soon to be introduced CurrentC. With CurrentC merchants will not have to pay swipe credit card network fees and will be able to track and instantly reward customers as a result of the lower fees.
Of the initial 500 financial institutions that have signed-up for Apple Pay and the two-thirds majority of credit unions, an estimated 90 of PSCU’s credit union member-owners are at the sponsor level. PSCU says the future of credit union relevance depends on how well credit unions understand and participate in the Millennial Shift and the digital revolution.
Vancouver-based Newnote has purchased a 20% equity position in the crypto-currency payment processor Coinpayments. The company operates a service similar to Coinbase and Bitpay.
Siris Capital Group is ponying up $840 million to acquire Digital River. Digital River is a major global provider of Commerce-as-a-Service solutions.
CardWeb.com’s CardPixes database of more than 7,000 card images today features the ANZ First Visa. The card is issued Australia/s ANZ Bank..
CardWeb.com’s CardExecs da tabase of card industry movers and shakers today features R. Daniel Blanton, Chief Executive Officer of Southeastern Bank Financial Corporation and Georgia Bank & Trust.
The Card Linked Offers (CLO) industry is now intertwined with Visa Europe. Visa Europe and edo interactive are making it possible.
VeriFone Systems and Vantiv have launched their “Secure Your Future Today” campaign to ensure merchants are ready for current and future payment technologies, including Apple Pay.
NCR has opened a new office to accommodate its team of software developers and engineers building the latest in bank branch technology. The 50-person team, previously located in Sandy, Utah, is moving to a new, state-of-the-art location in Draper.
UK global payments provider Earthport has signed a contract with the United Nations Federal Credit Union. UNFCU offers a broad array of flexible and tailored products, financial solutions and consultative services to help address the unique needs of the UN community globally.
PA-based security fraud litigators Howard Smith is reminding investors of its class action lawsuit against Bankrate which closes November 17th.