U.S. credit card outstandings for the four major networks rose 4.9% last year with American Express leading the charge with a 7.2% year-on-year (YOY) increase. U.S. card loans (including securitized receivables) hit $878.0 billion at end-of-year (EOY), according to CardData.
Global mobile commerce is set to explode by three fold over the next five years as U.S. NFC payments, consumer tablet adoption and smart wearables take hold. Forecaster RAM Research predicts global m-commerce will soar from $316 billion this year to $905 billion in 2019.
For the first time China UnionPay International has established cooperation with a Chinese cross-border e-commerce company to allow 40 million overseas cardholders to pay with UnionPay cards on a Chinese e-commerce platform. The deal was inked with the DinoDirect cross-border online businesses.
MasterCard Latin America and Caribbean (LAC) has launched an enhanced suite of travel benefits for Platinum MasterCard and MasterCard Black cardholders. The new MasterCard Travel Services includes personal planning assistance, preferential treatment and savings/benefits/upgrades.
CardWeb.com’s CardData Reports today features “2015 AFP Payments Fraud & Control Survey” from the Association for Financial Professionals.
Look out Automated Clearing House (ACH), as Dwolla has inked a major deal with the largest financial institution to provide real-time transfers to and from its network in the USA. BBVA Compass will enable its customers to send and receive funds instantly through the Dwolla all-digital payments network.
Microsoft-owned Skype users will now have to option to top up their accounts at more than 50,000 Western Union Agent U.S. locations. Western Union’s new Skype Credit is aiming for the banked, under-banked or un-banked.
Cryptocurrency is trying to get into the mainstream and the Ziftr cryptocurrency/credit card payment platform may be the answer. The Company notes for each credit card purchase, up to 3% of the total transaction value goes to swipe fees alone, while cryptocurrency fees are typically under 1%.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Derek Webster, Founder and CEO of CardFlight.
Acceptance of MasterCard consumer cards for Apple Pay is picking up more steam with the addition of 25 new financial institutions nationwide. In addition, cardholders with a MasterCard small business card from Bethpage Federal Credit Union or Navy Federal Credit Union can also now leverage Apple Pay.
Upromise by Sallie Mae reports its Upromise MasterCard card surpassed $50 million in cash back earned for college last year. Collectively the MasterCard program has rewarded nearly $450 million total cash back since the card’s inception.
CardWeb.com’s CardData database of Company Profiles today features data communications and interoperability solutions provider Transaction Network Services. Founded in 1990 in the United States, TNS has grown steadily and now provides services in over 60 countries across the Americas.