Three of the top four U.S. Visa and MasterCard issuers are seeing a continuing credit quality reversal in 2014 as delinquency rates headed higher in the fourth quarter. Bank of America (BofA) posted a five basis points (bps) downtick in Q4 but it is insignificant as their 90+ delinquency rate headed higher.
While there are indications of slower economic growth in Canada, basic payment card performance metrics remain solid. The key is Canadians are generally credit adverse and typically repay their balances in full each month.
New research shows revenue of mobile commerce merchants lost to fraud spiked 70% in 2014 to 1.36% compared to 0.80% in 2013. For comparison, all merchants lost 0.68% of revenue to fraud in 2014 in comparison to 0.51% in 2013.
Cyber criminals are expanding their tactics this year and are attempting to adapt their techniques to carry out cyber attack campaigns in ways that make it harder to detect and analyze.
MasterCard is lifting a block in March 1st on U.S. bank-card transactions in Cuba after receiving guidance from the Treasury Department’s Office of Foreign Assets Control.
USAePay has unleashed its Android App update version 1.4.0, available for free download on the Google Play Store. Designed to meet the needs of today’s merchants, USAePay makes processing payments seamless, speedy, and secure.
The NCR Silver cloud-based POS system for small businesses is expanding payment acceptance options. The latest is the integration with Apple Pay, Bitcoin and LevelUp.
Silicon Valley-based WePay has become the first payment provider to integrate Google Wallet Instant Buy into its checkout experience. Invoicing platform and WePay partner, InvoiceASAP, was the first to adopt the new service, instantly enabling its more than 200,000 small business customers to accept Google Wallet.
Effective February 1, 2015, PayPal and Google Adsense accounts registered in the the Crimea peninsula of Russia will be cut off. Visa and MasterCard stopped serving Russian banks in Crimea just days after the new sanctions were introduced in mid-December.
San Jose-based ThreatMetrix has aligned with Data Privacy Day by outlining strategies for businesses to build trust on the Internet through better cybersecurity measures without compromising consumer privacy.
Synovus Bank recently launched a new Mobile Banking App which offers Mobile Deposit, a service that allows customers to make deposits with their smartphones; Pay People, an on-the-go service that allows mobile customers to send money to individuals via an email address or cell number; and Instant Balances, which gives customers the ability to check account balances without logging into their account.
Intuit is releasing a new integration for marketplaces using Stripe for payment processing. This lets independent for-hire workers automate tax reporting via the new QuickBooks Online Self-Employed product. Intuit and Stripe make keeping track of and paying taxes simple through automation. With this new integration, on-demand marketplaces can give their users the free benefit of having their income data flow securely into QuickBooks Online Self-Employed, so that they always have a clear picture of their tax obligations and can easily track deductions, such as business expenses and mileage. This prevents tax penalties and avoiding having to pay any unneeded interest.