While the average yield for U.S. Visa and MasterCard-branded credit cards, issued by the top four issuers, declined 10 basis points (bps) sequentially (QOQ) in the second quarter to 11.44%, the peer group has bumped up by 6 bps year-on-year (YOY). In Q2/15, Chase was the only top issuer with an increase in yield QOQ, according to CardData.
A new survey has found 68% of mobile payment users report that they are using the alternative payment methods more than last year and 87% of consumers surveyed think merchant-specific gift cards are convenient to use, even higher than bank-connected debit cards (82%).
San Francisco-based Xoom, being acquired by PayPal, has launched its money transfer service to Hong Kong. This bank deposit service allows immigrants from Hong Kong and other individuals to conveniently send money online to bank accounts in Hong Kong with their U.S. bank accounts, credit cards, or debit cards.
Worldpay and Paymetric have buddied up to launch a payments solution that will help businesses trade globally by integrating payments technology with ERP, CRM and legacy applications to reduce risk, cost and inefficiency.
Visa and Orbitz for Business have teamed to provide corporate clients with a turn-key, end-to-end travel and expense solution designed to make booking, reconciliation and reporting more efficient. The solution, Visa Travel Manager, is specifically designed to give mid-market companies control of, and visibility into, employee travel spending. It is planned to be available to Visa issuers and their clients starting October 2015.
Creditcall, a payment gateway provider and EMV migration specialist, and Discover’s Diners Club announced a signed agreement to expand the acceptance of Discover and Diners Club cards worldwide.
PINs and passwords will son be a thing of the past as the wave of capital and new technology centered on biometrics, physiological and behavioral authentication is quickly evolving. Biometric measures use DNA, fingerprints, eye retinas and irises, voice recognition, facial patterns, vein patterns and hand measurements to authenticate and verify people’s identities.
ShopKeep has snagged another $60 million in Series D funding, led by investor Activant Capital. The Company says it plans to use this injection of capital to aggressively grow its overall US customer base, strengthen industry partnerships, and launch international operations, starting with the UK this month.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Bella Stavchansky, Division President, High Growth European Markets Region, MasterCard.
CardWeb.com’s CardData database of Company Profiles today features COGNICAL a/k/a Zibby
Fifth Third Bank will support Stand Up To Cancer (SU2C) in a promotion giving customers $150, and gives $150 to SU2C when customers open a new Essential Checking Account with direct deposit, and make three online bill payments.
Ingo Money and TSYS’ NetSpend and prepaid provider of choice to self-banked consumers and the brands that serve them have extended the utility of NetSpend and partner-branded prepaid card accounts, providing cardholders with access to funds from checks through NetSpend’s mobile banking platforms.