While Chase struggles with growth in credit card outstandings of less than 2% year-on-year (YOY), gains in purchase dollar volume (PDV) remain strong rising nearly 8% YOY, according to CardData. RAM Research projects Chase credit card Q2 PDV will come in at $127.3 billion.
While the nation’s second largest Visa and MasterCard has been experiencing slight erosion in credit card outstandings year-on-year (YOY), and sluggish growth in purchase dollar volume (PDV), credit card issuance for Bank of America (BofA) remains strong, according to CardData. Forecaster RAM Research expects credit card outstandings to be $89.1 billion for Q2, a slight gain YOY.
Toronto-based BitGold is off to the races posting astronomical growth in the second quarter, doubling its number of users in one month. As of June 30th there were 62,629 users. The Company, which offers digital payments and secure savings, doubled also doubled its gold vault value between June 5 and June 30 to C$2,993, 400.
Beijing-based Bank of Ningbo has gone live with NCR Mobile Cash Withdrawal. The software-based solution allows customers to pre-stage a cash withdrawal using Bank of Ningbo’s mobile banking application and then completes the transaction by scanning a 2D barcode using their mobile phone’s camera.
PayPal is picking up Xoom for $890 million. Xoom is a specialist in international remittances enabling customers in the US to send money to, and pay bills for, family and friends around the world in a secure, fast and cost-effective way, using their mobile phones, tablets or computers.
UK-based eMerchantPay has joined the UATP Network as a Master Merchant to help online travel agencies and booking engines reach out to new business travel customers by accepting UATP.
Jack Henry has acquired AL-based Bayside Business Solutions, a provider of complete portfolio management systems for commercial lenders and industry leader in providing factoring software.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Philip Fayer, President and Chief Executive Officer of Pivotal Payments.
CardWeb.com’s CardPixes database of more than 7,000 images today features the Diners Club Card Elite.
CardWeb.com’s CardData database of Company Profiles today features Bottomline Technologies.
London-based Swifthub is gaining traction as the best solution for cost-effective cross-border corporate payments that lets businesses make payments or even mass payments to any Visa/MasterCard credit/debit cards worldwide for just 0.75% fee.
NJ-based Charge Anywhere, an experienced provider of EMV payment application and payment gateway services has launched Miura Shuttle POS equipment to merchant services providers and solutions integrators in the U.S.