Visa and MasterCard International Payment Dollar Volume (PDV) passed the $1 trillion milestone in the third quarter and will likely top $1.3 trillion by the end of 2015. Currently, International credit card PDV is growing 9.5% annually and International debit card PDV is expanding 16.5% annually.
Bank credit card delinquency among the Top 100 U.S. banks continue to decline in the third quarter to 2.16%. The ratio is the lowest in more than 25 years, down 26 basis points (bps) from one year ago, down 65 bps from two years ago and down a stunning 447 bps from five years ago.
Silicon Valley-based i2c has taken its corporate rewards gift card to Australia. The Company has teamed with Corporate Prepaid Solutions (CPS) to bring the uChoose card down under.
CT-based NXT-ID makes its new smart wallet official this week at the CES. This marks the first time that the general public will be able to see and experience Wocket.
CardWeb.com’s CardPixes database of more than 7,000 images today features the Capital One Playstation Visa.
Anyone worth their salt in the payments arena is aware of the patent troll threats. Dubious patents to extract fees from banks, credit card companies, financial institutions and other payment technology providers are a constant threat.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Paul Rasori, Executive Vice President, Product and Marketing of PowaPOS.
Bonita Springs, FL-based CSI globalVCard has added a mobile payment app for Android users. This latest product development effectively doubles the potential customer base for globalVCard.
Herzliyah, Israel-based Supercom is acquiring Prevision. SuperCom specializes in solutions for e-government, public safety and mobile payments.
Pasadena, CA-based prepaid card specialist Green Dot has appointed Chief Technology Officer and Executive Vice President of Product Development, Kuan Archer, to Chief Operating Officer (COO).
Credit card portfolio valuations are set to decline and the value reductions will appear in earnest by 2017. Driving the change are both changes in card business models as well as regulatory and accounting rule changes.
TSYS has named Thomas Boyer as president of TSYS Merchant Solutions, its direct acquiring business unit. Prior to joining TSYS, Boyer was senior vice president, portfolio management, at Bank of America Merchant Services.