U.S. bank credit card active accounts (accounts with sales activity), among the top six U.S. issuers, grew 10.3% year-on-year (YOY) and 3.5% quarter-to-quarter (QOQ) in 2014. This comes despite the slight erosion in gross accounts of 1% by Chase, Bank of America and Citibank last year.
Aggregate global gross dollar volume (GDV) for Visa, MasterCard, American Express and Discover is projected to top $13.6 trillion in 2015. According to RAM Research the year-on-year (YOY) growth rate will maintain a 4.5% to 5.5% range through all four quarters this year.
International cash dollar volume (CDV) for Visa and MasterCard credit and debit cards hovered at the US$800 billion level throughout 2014. While the nominal dollar basis shows a slight decline, the year-on-year (YOY) growth was very robust in most of the Visa and MasterCard regions, on the currency adjusted basis, according to CardData.
Ho Chi Minh City-based Asia Commercial Bank (ACB) has joined with Japan’s JCB to issue the first JCB debit card in Vietnam. To kick-start the program ACB is offering an annual fee waiver for the 1st year and a cash back up to 100% for the first payment transactions by the new card.
Middle East banks will catch a larger portion of the global transaction banking market (worth US$509 billion) by 2025, with 62% anticipating growth of 25% or greater, and 34% expecting the region’s share to increase by at least 50%.
Oslo-based NEXT Biometrics has been chosen to provide its fingerprint imaging sensor in the new BIO-key EcoID, a low-priced compact USB touch fingerprint reader.
According to new research the mobile money market is expected to grow from $12.34 billion in 2014 to $78.02 billion by 2019, at a compound annual growth rate (CAGR) of 44.6% during the forecast period from 2014 to 2019. In terms of regions, MEA is expected to be the biggest market in terms of market size, whereas APAC and NA are expected to experience increased market traction, during the forecast period.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Dr. Markus Braun, Chief Executive Officer and Chief Technology Officer of Wirecard AG.
South Africa’s Ovations Group is taking the leap onto a beaconized payments platform. The provider of business process transformation solutions will use the platform from San Francisco-based Pay With Drop.
South Korea’s national carrier and largest airline has inked a deal with’s Visa’s CyberSource for secure online payment acceptance. Korean Air says the implementation of its new Global Payment System, complemented with CyberSource’s solutions and expertise, will allow the company to take its customers’ experience to the next level.
In today’s CardFlash News Que: ACCULYNK (Atlanta Courts); BILLTRUST (milestone); PAYTELLER (Janefour20 COO) and INETCO (BECU).
Verifone Mobile Money (VMM) and South Africa’s MTN Group have inked an agreement to deliver retail payment devices to merchants across 16 of MTN’s operating countries. The solution will enable customers to pay for goods and services using their mobile phone and MTN Mobile Money wallet, while merchants will be provided with payment terminal solutions from Verifone.