Charge-offs among the nation’s top 6 issuers dropped 22 basis points (bps) year-on-year (YOY) to 2.81% for the second quarter, and down 16 bps sequentially. Bank of America (BofA) has done the best job of reigning in card losses, dropping 43 bps YOY.
Purchase transactions (PTX) for U.S. Visa and MasterCard credit cards rose 11.7% year-on-year (YOY) in the second quarter to 5908 million. PTX for U.S. Visa and MasterCard debit cards rose 7.0% YOY in Q2/15 to 12986 million. Both metrics have been slowing over the past year.
PA-based Rite Aid says nearly 4,600 stores of the Company’s nationwide will begin accepting mobile payments, including Apple PayT and Google Wallet, starting Saturday, August 15. The Company will also accept Google’s forthcoming Android Pay. Additionally, all Rite Aid stores will also accept tap and pay credit and debit cards.
China’s UnionPay has signed a cooperative agreement with Maldives Airport Company Limited. Maldives Airport Company Limited is responsible for the operation of Ibrahim Nasir, the only international airport in local as well as the daily operation of airport duty-free shops.
PA-based Rite Aid says nearly 4,600 stores of the Company’s nationwide will begin accepting mobile payments, including Apple Pay and Google Wallet, starting Saturday, August 15. The Company will also accept Google’s forthcoming Android Pay. Additionally, all Rite Aid stores will also accept tap and pay credit and debit cards.
The Starwood Preferred Guest (SPG) Credit Card from American Express has been beefed-up with a new design and extra benefits. Among the new benefits: No Foreign Transaction Fees; Complimentary, Unlimited Boingo Wi-Fi; Complimentary Premium In-Room Internet Access; and Access to Sheraton Club Lounges for SPG American Express OPEN Card Members.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Steve Fredette, President & Co-founder of Toast.
Australian retail technology specialist, Lokket has teamed up with Eagle Eye Solutions (Asia Pacific) to pioneer mobile engagement solution for Australian retailers by integrating Apple Wallet (formerly Passbook) with Chip & Pin (EMV) known in Australia as Eftpos. Creating a closed loop mobile engagement automation platform redeemable at existing credit card terminals.
CardWeb.com’s CardWatch database of more than 57,000 marketing items today features the Chase “Fraud Alerts” Credit Card Commercial from 2008.
One of Chile’s largest payment processing networks – Multicaja – has begun deploying Verifone’s 3G wireless payment terminal solution to enable merchants throughout Chile to enhance the consumer experience by securely accepting all forms of payment from beyond the counter”in any retail environment.
CardWeb.com’s CardData database of Company Profiles today features CashStar.
Moneris Solutions has rolled-out the PAYD product family for the U.S. market. PAYD Pro and PAYD are two innovative smartphone-based mobile point-of-sale (mPOS) solutions that empower merchants to process secure payments from anywhere and everywhere they do business.