Chase, the nation’s largest bank credit card issuer, continues to struggle with real growth as third quarter (Q3/15) outstandings inched upward by a mere 2% year-on-year (YOY) and purchase dollar volume (PDV) posted a weak growth rate of 6.%. Furthermore, Chase is consistently signing up 2.1 million accounts per quarter, while losing 3.0 million accounts YOY.
The nation’s second largest Visa and MasterCard issuer continues to struggle with sluggish outstandings and purchase dollar volume (PDV) growth, but credit card quality continues to improve in the third quarter.. However, Bank of America (BofA) continues to sign up 1.3 million accounts each quarter.
Irish consumer spending continued to increase at a sharp pace during September as household expenditure rose +5.4% year-on-year (YOY). This represents the thirteenth month of unbroken growth which has been recorded since the series began in September 2014.
UnionPay International is accelerating the process of chip migration of its acceptance network in Taiwan, with HSBC Taiwan, is enabling all of its ATMs to accept UnionPay chip cards. The UnionPay card business in Taiwan started in 2009 and now 98% of the local ATMs are now able to accept UnionPay cards.
MasterCard will provide tokenization services to commercial credit card issuers. Soon, corporations and business travelers will be able to load eligible corporate credit cards within participating mobile and digital wallet services.
Gemalto has unleashed Dynamic Code Verification, a comprehensive payment security solution that protects against Card-Not-Present (CNP) fraud on-line and ensures an easy user-experience cardholders have come to expect.
New research reveals while international shoppers share some common similarities on how they are finding and buying products online, consumers have unique global shopping preferences and behaviors that vary by country. Retailers looking to expand their brands globally should consider cultural norms and shopping preferences of consumers around the world.
North American Bancard (NAB) has ankled Tim Oneacre as general manager of its subsidiary Electronic Payment Exchange (EPX), a full-service payment processor that provides both front- and back-end payment solutions.
MO-based credit card processor Clearent unveiled the addition of a new virtual terminal that complements the company’s broad array of products and services. With the Clearent virtual terminal, merchants have the flexibility they need to securely process credit card payments in an office setting on a computer or when they’re on the go from their smartphone or tablet.
Berkshire Hathaway Travel Protection (BHTP) and MasterCard have teamed with Skift’s Global Travel Forum to drastically cut the time it takes to pay travel-insurance claims.
The NFC Forum has published one new and three candidate technical specifications. The specifications deliver new capabilities that support improved RF communication, new and legacy tag support, NFC-V technology and Active Communication Mode.
In today’s CardFlash News Que: SYNCHRONY (Sleepy’s); TSYS (Tangerine); DH (Ripple); and USAT (Canteen).