U.S. credit card outstandings, among the Big 6 credit card issuers, rose a measly 2.3% year-on-year (Y/Y) for the fourth quarter to $486.8 billion. American Express (AXP) and Capital One (COF) lead the pack with 7.2% and 6.0% increases, respectively.
London-based Bytemark has been awarded a major contract to create a mobile payments infrastructure and smartphone app for the FutureRailway program in the UK. FutureRailway operates as a collaboration between RSSB and Network Rail and was originally established to accelerate the uptake of innovation within the rail industry.
There is little doubt Apple Pay has set the stage for mobile payments as iPhone unit sales hit 74.5 million in the fourth quarter. Apple Pay currently accounts for two out of every three dollars spent in contactless payments over the top three payment networks.
Miami-based CenPOS has inked a mutually exclusive processing and acquiring services agreement with Bank of The Bahamas (BOB). These services include mobile processing, EBPP, integrated payment solutions, shopping carts, Point-to-Point encryption, tokenization, recurring billing, and Mobile Wallet.
MN-based TCF Bank announced the availability of Apple Pay for its debit and credit cards. TCF has 382 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota, providing retail and commercial banking services.
Hangzhou-based Ant Financial Services Group is rolling-out its credit-scoring service Sesame Credit for China. The service will leverage “big data” technology and customer behavior analytics to make credit more accessible across the country.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Kyung-Hye Chun, Head of Corporate Service Group of BCcard.
Norway’s Telenor, TeliaSonera and Tele2 have selected the Amdocs Mobile Financial Services solution to advance their Strex joint venture for mobile payments. Mobile financial services are already very popular in Norway, with Strex handling more than 75 million SMS-based payment transactions annually.
MN-based Digital River is raising the stakes in India through a strategic partnership with local ecommerce provider Net Distribution Services (NDS). NDS has been building and operating branded online stores for both global enterprises as well as leading local brands for more than five years.
Disruptive new technology or business models in the payments industry are now kicking serious butt. A new report says social media and mobile messaging application providers have turned everything upside down.
CardWeb.com’s CardPixes database of more than 7,000 images today features the CITIC JCB Ultimate card.
Atlanta-based Sionic Mobile has reached 50,000 diverse shops, restaurants and retail locations nationwide where consumers can pay with a Sionic Mobile app on their smartphones and tablets. And there is more in the works.