In Other News: KINERJAPAY (report); WISEKEY (INSIDE); DASHLANE (funding); and REVEL (Expensify). KINERJAPAY – KinerjaPay reports it is now serving over 50,000 customers in Indonesia, up from 12,000 at the start of April. The Company also reports an increase in average number of daily transactions, from 300 per day to 1,500 per day, over the…
A new report finds every dollar of fraud in 2016 cost merchants $2.40, up from $2.23 a year ago. According to the LexisNexis 2016 True Cost of Fraud report, the volume of fraud has risen sharply in the last year—from a monthly average of 156 to 206 successful fraudulent transactions, and from 177 to 236…
New research shows eight out of ten U.S. card holders believe co-branded cards offer as much or more value than bank-issued rewards cards, but they want more … much more. According to Oliver Wyman and its annual Transport & Logistics Journal, co-branded travel cards may not be rewarding enough. Other findings show consumers are willing…
The recent April bump up in the charge-off ratio for retail credit cards may be short-lived despite the recent lags in U.S. economic growth. Fitch Ratings says retail charge-offs should rise in the next month, but Fitch does not expect this change to carry into the longer term or spread to our prime indices in…
Toronto-based FreshBooks has introduced the FreshBooks Card Reader for Android. FreshBooks’ first piece of hardware, the card reader helps small business owners accept credit card payments from anywhere using their mobile device. Offering the most up-to-date EMV security technology, the FreshBooks Card Reader provides dual chip-and-swipe capability to protected small business owners from fraudulent transactions.…
Tanzania’s bankcard switch organization Umoja has inked a deal to accept China UnionPay cards at all ATMs that subordinate to Umoja. This will raise UnionPay cards acceptance coverage at the local ATMs from 30% to 50%. Both companies mention Tanzania and China have entered into intimate cooperation in fields such as infrastructure construction, communications, consumer…
Citibank’s international credit card business in the Latin America Caribbean (LAC) region continues to struggle in the first quarter (1Q/16) as all metrics are negative year-on-year (YOY) and quarter-to-quarter (QTQ). After currency adjusted (FX) Citi LAC posted flat revenue and negative income. In the Asia (AP) region, which also includes the European Middle East Africa…
TSYS has lifted the curtain on a new commercial payment solution that will streamline business-to-business (B2B) virtual payments and further enhance the ePayables process flow. The new TSYS Virtual Payment Precept (VPP) will reduce risk, improves operational efficiency and greatly increases control over accounts payable and accounts receivable payments and reconciliation. VPP leverages existing TSYS…
BBPOS has unveiled WisePad2 for use in an integrated or semi-integrated POS environment as well as a stand-alone environment connecting to the payment processor or gateway via GPRS, 3G or Wi-Fi. WisePad2 reads EMV chip card, triple track magnetic stripe card, NFC card and has a secured PIN pad. Compact and lightweight at 3.7oz (105g),…
MasterCard is going back to future introducing the first commerce application for SoftBank Robotics’ humanoid robot Pepper. The application will be powered by MasterPass. Pizza Hut Restaurants Asia P/L will be the inaugural launch partner working with MasterCard. A major first step forward in bringing conversational commerce experiences to merchants and consumers, this new app…