The charge-off rate, seasonally adjusted (SA), among the top 100 U.S. banks for the fourth quarter (4Q/16) increased 33 basis points (bps) sequentially (QTQ), and up 46 bps year-on-year (YOY). On a not seasonally adjusted basis (NSA), the charge-off rate among the top 100 U.S. banks for 4Q/16, surged 63 bps QTQ and up 58…
Cash transactions (CTX) for Visa and Mastercard U.S. credit and debit cards in the U.S. declined by 0.6% year-on-year (YOY) in the fourth quarter (4Q/16), according CardData. U.S. 4Q/16 credit card cash transactions were down 3.8% YOY, while U.S. debit card CTX decreased 0.5%. Visa’s 4Q/16 CTX for U.S. credit cards was down 5.9% YOY…
PayPal and Visa have extended their domestic partnership arrangement to outside the U.S., specifically Asia Pacific The partnership makes it easier for Visa issuing banks in Asia Pacific to offer their cardholders the ability to checkout anywhere PayPal is accepted online. It also expands the use of PayPal to retailers that accept Visa in physical…
EDGE Mobile Payments and Nuvation Engineering have buddied for the development of the EDGE Card, its flagship product. The EDGE Card is looking to become the most advanced dynamic payment card within the Fintech market, featuring a full color touchscreen, digital storage of multiple credit and debit cards, along with biometric verification security. Edge Mobile…
Apriva has teamed with Apptizer, an omnichannel app developer, to enable mobile stores to centralize and manage business generated through various mobile paths. Apriva’s EMV-enabled Gateway brings high level security with end-to-end encryption, tokenization, and EMV capabilities to Apptizer’s solutions, while connecting a variety of payment devices to Apriva’s vast processor connections. As a result…
China’s UnionPay has inked a deal for card acceptance with AccorHotels Group, the largest hotels group in Europe. Previously, Louvre Hotels Group has accepted UnionPay cards. AccorHotels has enabled 85 pilot hotels in France that are popular among Asian tourists to accept UnionPay cards. By the end of this June, 200 hotels of the Group…