The top six U.S. credit card issuers are all reporting a slight uptick in delinquency for the fourth quarter. However, Bank of America held steady. Therefore, given the recent rise in card usage the stage is set for higher charge-offs throughout 2015.
As Citibank’s international card business winds down, especially in Asia, there were significant declines in fourth quarter (Q4/14) profits across all three regions. The Asia region posted a 32% YOY decline, the LAC region was down 18% YOY and the EMEA region posted an US$18MM loss for Q4/14.
Given the uptick in bank credit card delinquency in the third and fourth quarters, it is likely charge-offs will start to climb upwards as early as the first quarter and will continue to march north for the rest of 2015.
Tapit and Gemalto have joined to launch “Tapit and Buy.” It is the first solution of its kind, leveraging Gemalto’s Netsize operator billing system and Tapit’s Cloud Platform to transform a wide range of physical assets into ‘one-tap’ mobile payment terminals.
Zimbabwe’s Steward Bank is working with MasterCard to make international remittance services available to the bank’s more than 1.5 million account holders.
Toronto-based NBS Technologies has supplied the Horizon Evolution HD with Integrated Mailing system and EMV Software to Smart Card IT Solutions of Pune, India.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Kathy Nevill, Chief Financial Officer of EFT Source.
The inclusion of home rent payments in Vantage Scores is having a significant positive impact for subprime consumers as well as consumers with thin files such students and recent graduates.
Prepaid card giant Blackhawk Network has beefed-up its digital services platform with exchange services, which allows users to instantly sell their retail, restaurant and a large variety of other brands’ gift cards.
Since the Great Recession finance executives’ confidence in the U.S. economy has never been higher and now have adopted a ‘spend-to-grow’ attitude. The U.S is joined by finance executives in India, Spain, China and Brazil wherein 75% of the top executives express the same optimism.
Aptito has ankled Eric Kirk as executive vice president of Aptito. The company offers a new generation, customer-engaged, patent-pending payments platform specializing in mobile Point of Sale, mobile commerce application, and self-ordering Apple iPad-based kiosk.
The PCI Security Standards Council (PCI SSC) announced it will convene acquirers and processors to collaborate on payment security solutions for the merchant community. The Acquirer Forum will take place on 2 April alongside TRANSACT15, the Electronic Transaction Association’s marquee global payment technology event in San Francisco.