Chase Q4/14
Chase reported record purchase dollar volume (PDV) in the fourth quarter of $123.6 billion, up 9.8% year-on-year (Y/Y). The number of active credit card accounts also ticked up to 34.0 million, a 5% increase over end-of-year (EOY) 2013.
Pakistani Cards 2014
The Pakistan payment card market is growing leaps and bounds, driven by government economic reforms, resulting in a 26% compound annual growth rate (CAGR). More than 29 million credit and debit cards were in force (CIF) at end-of-year (EOY) 2014.
EU IC Caps 2015
There is a strong possibility interchange fees on some European debit and credit card transactions will officially be capped by the European Parliament and the European Council before year-end 2015. Banks will be most impacted, but three-party systems that rely on bank issuers will also feel the impact.
MasterCard Prepaid Exec
MasterCard appointed Michael Fiore group executive Global Prepaid Solutions. A ten year veteran with the company, he will lead the ongoing development and execution of the company’s global prepaid strategies. These programs provide individuals, organizations and governments with tools that create more efficient, easier ways to receive, hold and activate money. Fiore replaces Ron Hynes, who recently left MasterCard to pursue a new opportunity. Most recently with Mastercard, Mike led the company’s cross-border remittance, person-to-person payment and disbursement strategies and was instrumental in the acquisition of Orbiscom.
Wells Fargo Q4/14
Wells Fargo reported an impressive 15.6% year-on-year (Y/Y) increase in bank credit card outstandings for the fourth quarter (Q4/14). Credit card penetration in retail banking households rose to 41.5%, up from 37% in prior year.
Elavon & SMBs
U.S. Bank’s Elavon business unit is introducing a turnkey mobile POS system for small and medium businesses (SMBs) in the U.S. Elavon is joining forces with Verizon and talech to create the SMB solution.
Delhaize & Verifone
Delhaize America has picked Verifone’s multi-media, EMV and NFC-capable MX 925 payment terminals to enhance consumer engagement at the POS across all of Delhaize America’s U.S. locations.
MC Prepaid Exec
MasterCard appointed Michael Fiore group executive Global Prepaid Solutions. A ten year veteran with the company, he will lead the ongoing development and execution of the company’s global prepaid strategies. These programs provide individuals, organizations and governments with tools that create more efficient, easier ways to receive, hold and activate money. Fiore replaces Ron Hynes, who recently left MasterCard to pursue a new opportunity. Most recently with Mastercard, Mike led the company’s cross-border remittance, person-to-person payment and disbursement strategies and was instrumental in the acquisition of Orbiscom.
WU & UniTeller
Western Union is hooking up with Grupo Financiero Banorte’s UniTeller network to launch international direct to bank money transfers to Mexico from the U.S.
Century & ExpandIT
CA-based merchant services provider Century Business Solutions has added another ERP system to its arsenal of programs to which it can integrate with QuickBooks, Sage programs, and NetSuite. The move comes on the heels of a partnership with ExpandIT Solutions.
T&E Card Programs
A new report concludes with three key areas for improvement that commercial card issuers should focus on to make their T&E programs more valuable to travel managers and business travelers during 2015.
Stingray III POS
Panasonic unveiled the new modular “Stingray III” POS workstation. An enterprise-grade POS device compatible with a variety of Microsoft Windows operating systems, it features an all-in-one flexible, modular design for the retail, quick service restaurant (QSR) and hospitality industries. Flexibility and Modularity: The Stingray III’s versatile design features interchangeable touchscreens and allows easy customization to meet individual retailer requirements with unlimited mounting options. The increased modularity of the Stingray III also makes servicing and replacing parts a simpler process, allowing the workstation to be easily maintained, reducing total cost of ownership and increasing ROI.