Chase reported purchase dollar volume (PDV) in the first quarter of $112.8 billion, up 7.9% year-on-year (Y/Y). The number of active credit card accounts also ticked up to 32.5 million, a 4.8% increase over first quarter 2014.
Wells Fargo Credit card first quarter outstandings were down 3% QOQ to $30.08 billion on seasonality, but up 15% YOY reflecting new account growth and growth in private label and co-brand outstandings driven by the card portfolio acquisition in 4Q14.
Gemato says even if a token is intercepted, its reuse would be very limited, meaning that incidences of ‘cross-channel’ fraud can be significantly reduced. Transaction keys needed for EMV payments can also be replenished on a regular basis, further limiting the validity period of the transaction.
Next week is the important World Economic Forum on East Asia in Jakarta (Apr 19-21). MasterCard released the latest findings of basic finance knowledge and skills across Asia/Pacific and discovered a stall in 12 of 16 countries with record lower scores in the latest Financial Literacy Index.
eBay continues to rejigger the upstair suits as it prepares for the separation of eBay and PayPal into independent publicly traded companies in the second half of 2015.
PreCash has inked a partnership with ProPack, developer of the productivity toolbox app for Android devices, to include its Evolve Money bill pay application in ProPack’s productivity bundles.
Sionic Mobile has ankled Spencer White as Chief Operating Officer and EVP Business Development. With more than 25 years experience, White co-founded Softcard (the AT&T, Verizon and T-Mobile mobile wallet joint venture – formerly Isis) whose technology was recently purchased by Google.