At the end of the third quarter 2014 (Q3/2014) American Express (AmEx) net income (excluding corporate losses) increased 5.5% year-on-year (Y/Y), but down 6.7% quarter to quarter (Q/Q), driven mainly by continued strong growth in the U.S. Card Services (USCS).
Seven out of ten Americans blame retail chains for credit card breaches. A new survey finds 65% of holiday shoppers say they have used or plan to use cash to pay for their purchases compared to 61% who plan to use credit cards this holiday season.
More than half of holiday shoppers expect to shell out the same amount on gifts as they did last year. Fourteen percent expect to spend more, while 30% say they’re cutting back this holiday season.
A new prepaid card for teens has been launched on the Discover network. The new Oink card enables parents to set limits and manage the accounts.
Blackhawk’s gift card exchange network has signed LevelUp as a new client. For Cardpool the agreement provides a new channel for acquiring unused gift cards.
CardWeb.com’s CardExecs database today features Paul Hermelin Chairman and CEO of the Capgemini Group.
Yodlee was recognized as a winner of the Citi Mobile Challenge Latam 2014 from more than 50 finalists. The Citi Mobile Challenge is a global initiative whose goal is to find the best developers that are reimagining the financial technology industry. The Yodlee application for the Citi Mobile Challenge Latam invoked aggregation and voice technology to create an integrated user experience across multi-national geographies, accounts, and currencies to facilitate better money management, money movement, and more personalized Citi interactions with consumers and small businesses with global needs.
A basket of Blue Pay NFC and QR patents are up for sale. ICAP Patent Brokerage is handling the early December sale.
Avalara and GlobalCollect have formed a strategic partnership to provide payment and indirect tax compliance services to e-commerce companies looking to trade cross-border.
The number of online payment users in China neared 300 million in June 2014, while mobile payment users topped 200 million. The market is dominated by local third party payment providers, such as Alipay and Tencent. However, 99Bill, Lakala Payment and China PnR are expanding.
WorldRemit launches its global money transfer App for iPhones. WorldRemit for Android has been downloaded more than 10,000 times and entered the Top 20 Financial App charts in nine countries – more than any other money transfer service- in just the past few weeks. The company is confident it will see the same returns for the iOS solution. WorldRemit is also a leader in sending money to mobile devices. The addition of iOS and Android Apps further enhances WorldRemit’s mobile-to-mobile offering with smartphone users in one part of the world able to transfer instantly to Mobile Money accounts on the other side of the planet.
RewardsPay has teamed up with Coinbase
to allow customers to easily pay for thousands of products at leading online merchant sites using the Bitcoin digital currency. Heels.com, the world’s premiere source for women’s shoes, is among the leading merchant partners accepting bitcoin through RewardsPay.