About 25% of U.S. debit cards – approximately 71 million cards – will be migrated to chip by the end of 2015. The percentage is expected to rise to 73% by the end of 2016 and 96% by the end of 2017.
After failing to come to terms with Costco in March for a contract renewal beyond 2016, American Express has inked Sam’s Club for card acceptance as of October1st. The membership warehouse club serves 500,000 small business owners every day and offers tons of opportunities for AmEx despite Sam’s razor thin profit margins.
Irish consumer spending continued to increase at a sharp pace during August as household expenditure rose +5.6% year-on-year (YOY). However, it was slightly weaker than the +6.1% expansion recorded in the previous month but still the joint-second fastest in the 12 months of the series so far.
MasterPass. the digital payment solution, is now accepted in 24 countries around the world, with recent additions including Germany, Belgium, Hungary and Turkey. Since its 2013 launch, MasterPass has increasingly been making shopping easier for shoppers and retailers.
Discover cards be added to Apple Pay starting September 16th. Additionally, Discover is rewarding cardmembers in the U.S. who use their Discover cards through Apple Pay with a 10% Cashback Bonus.
The Electronic Payments Association says its Payments Innovation Alliance has launched a Mobile Wallet Initiative to enable stakeholder companies and the broader mobile wallet community to leverage an “open” acceptance platform that includes support for retailer- and bank-branded mobile wallets for electronic payments.
SD-based Meta Financial Group reports its bank subsidiary, MetaBank, completed the previously announced acquisition of substantially all of the related assets and liabilities of Fort Knox Financial Services Corporation and its subsidiary, Tax Product Services.
Agiliance Payment Card Industry (PCI) Data Security Standard (DSS) 3.1 Content Pack has been released. Based on the new PCI DSS 3.1 information security standard, this new content pack provides organizations that handle cardholder information for major debit, credit, prepaid, e-purse, ATM, and point-of-sales cards, with packaged intelligence and best practices to tighten controls and reduce the risk of data breaches and fraud.
WA-based INRIX has completed the acquisition of ParkMe, a Santa Monica, CA company that helps consumers find parking, make reservations and mobile payments worldwide. This deal makes INRIX the preferred provider of parking information and services to leading automakers, transportation agencies and drivers around the world.
SMB-specialist PopMyDeal has inked a partnership with CardConnect, a provider of payment processing and technology services for SMBs and enterprise customers, to offer their respective combination of products to new and existing businesses across their sales channels.
MasterCard has teamed with ASK Italian, Zizzi (both part of the Azzurri Group) and Carluccio’s to bring their customers a more convenient, speedier and fuss-free way to pay for their meals via the Qkr! with MasterPass app on their phone.
In today’s CardFlash News Que: FINCITY (Aurora); PARKING PANDA (Button); ARROWEYE (MetaBank): and VERIFONE (VAI).