Discover’s credit card outstandings continued strong in the third quarter rising 3.7% as Purchase Dollar Volume (PDV) rose 2.7%, year-on-year (YOY). While all other credit card metrics remained stable, overall net income for Q3/15 declined 5.0% YOY to $612 million.
Purchase Dollar Volume (PDV) for Visa, MasterCard, Discover and American Express U.S. debit cards is expected to reach $2.67 trillion annually by year-end 2019. According to forecaster RAM Research, the U.S. PDV for the U.S. debit card industry is currently growing at a CAGR of 7.70%.
China’s UnionPay International and Bank of China Singapore Branch are teaming to issue the first UnionPay platinum debit card in Singapore. Previously, Bank of China Singapore Branch had issued quite a few UnionPay credit card products.
Yandex.Money, the largest payment service in Russia, has teamed with MasterCard. The Yandex.Money e-wallet and MasterPass are now connected and Yandex.Money users can do shopping on foreign sites where MasterPass is accepted – that is over 250,000 online stores across 24 countries.
Severely delayed debts sold-off to debt collection agencies will have minimal impact on consumer scores and will not impact the predictiveness of VantageScore 3.0 credit scores.
Visa’s CyberSource has unveiled Decision Manager Replay, the industry’s first fraud tuning analytics tool which allows merchants to quickly analyze and adjust their online fraud management strategies.
San Francisco-based NerdWallet has elected Simon Williams to its board of directors after he ponied up a $5 million investment from his Camelot Financial Capital Management. The funding brings the company’s Series A funding to $69 million.
Visa has pulled the curtain up on its Visa Integrated Marketing Solutions (VIMS), a card marketing platform designed to help small to medium-sized issuers optimize their marketing efforts.
Fifth Third Bank is launching a mobile app for commercial cardholders that will allow access to information and account features in a convenient, user-friendly format. In addition, cardholders will be able to suspend and un-suspend card accounts and enable push notifications to their mobile device.
SimplyTapp & Diebold are continuing to securely connect the digital and physical worlds of cash with a secure, white-label mobile wallet offering.
Austria-based ams has unveiled a new NFC (Near Field Communications) solution for manufacturers of smart watches, wristbands and other space-constrained devices, enabling them to reliably support contactless payments and ticketing.
In today’s CardFlash News Que: AFFIRM (3dcart); SUMUP (mPOS); CREDITERA (Nav); and BUZZ POINTS (Kent’s).