U.S. bank credit card rates for all accounts edged up slightly in May by 6 basis points (bps) from the prior month to 12.04%. However, annual interest rates for all accounts accruing interest charges declined slightly in the second quarter by 5 bps to 13.49%.
Purchase transactions (PTX) for U.S. Visa and MasterCard debit cards will slow to 7.5% in the second quarter, compared to 7.7% in the first quarter.CardData and RAM Research says U.S. credit card purchase transactions are quickly ramping up this quarter.
Consumer spending is heating up in the UK, posting the strongest quarter for consumer spending in five years. Spending rose +1.4% on an annual basis in June, rounding off the strongest quarter for household spending since Q2 2010. Underlying growth momentum remained strong looking forward.
Scandinavian Airlines will formally accept online ticket purchase of UnionPay cards before the end of the summer. It will join hands with many European airlines like Air France, KLM Royal Dutch Airlines, Deutsche Lufthansa, Finnair, LOT Polish Airlines, and Ukraine International Airlines to accept UnionPay.
The Payment Alliance International (PAI) and CardFlight have inked a deal for EMV mobile POS (mPOS). PAI will offer CardFlight’s EMV mPOS acceptance solutions to its market partner distribution network and merchant customers nationwide.
NC-based Medfusion released a new patient payment and revenue management solution. Medfusion Pay is a suite of four key products that enable healthcare practices and organizations to collect copays and balance payments at seven different points in the patient encounter journey.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Luis Molina Achécar, President of Banco BHD León
CardWeb.com’s CardWatch database of more than 57,000 marketing items today features the CardWeb.com’s the
Citi Card Commercial – Norway TV spot.
Viewpoint Construction Software and Comdata, now offer tighter product integration between Vista, Viewpoint’s leading construction Enterprise Resource Planning (ERP) system and Comdata’s Virtual Payment MasterCard solution providing customers a more secure and effective electronic process for paying vendors.
CardWeb.com’s CardData database of Company Profiles today features Raise.
Synchrony Financial has inked a new, multi-year agreement to offer private label credit card and small business financing programs for customers of Newegg.com and NeweggBusiness.com.
Atlanta-based Horizon Software has unveiled their cloud-based Point of Sale (POS) and School Meal Program Accountability software, Solana. This new program simplifies the complex tasks required of today’s school nutrition staff to stay in compliance with Federal & State regulations, while offering responsive service to today’s students.