Visa and Mastercard international credit card cash dollar volume (CDV) for the first quarter (1Q/17) soared 30.3% year-on-year (YOY). Meanwhile, international debit card CDV grew 40.0% YOY in 1Q/17, according to CardData. The huge jump is attributed to the inclusion of Visa Europe in 3Q/16. Visa and Mastercard posted $922 billion in international CDV for…
Gross or open accounts (GAC) for U.S. credit cards among the nation’s four largest issuers jumped 12.5% year-on-year (YOY) in the first quarter (1Q/17) to 213.8 million, compared to 190.0 million one-year ago, according to CardData. The GAC growth is driven by Citibank and its acquisition of the American Express Costco portfolio in early 2016.…
The First Data Local Payments solution is here providing digital businesses and their customers with access to 195 local payment options when fully implemented. With First Data’s Local Payments solution, a merchant can manage varying online payment methods through a single interface, using a single collection model. Now, a retailer can easily enable a customer…
Smart algorithms and data analyses are creating sustainable performance benefits across all levels of the retail supply chain. With its Omnichannel ePOS Suite, Wirecard is the first payment provider to offer a fully integrated solution for self-learning analyses based on payment data in combination with other data sources. The evaluations substantially support e-commerce and high-street retail…
The socio-economic ecosystem that empowers people to share accommodation, transportation, buying or selling of goods, on-demand professional services and sharing or renting of goods is experiencing an extraordinary level of growth, transforming the fundamental way industries operate and people experience a variety of things. A new Mastercard white paper identified three inter-related themes around which…
BlueSnap unveiled SEPA (Single Euro Payments Area) Direct Debit enabling customers to make cashless payments in euros across country borders for online checkout, invoice payments and marketplaces. Meanwhile, iSignthis inked a direct License Agreement to process JCB transactions in the SEPA. BlueSnap’s platform is designed for frictionless payment experiences and merchants that implement SEPA Direct Debit…
U.S. Purchase Dollar Volume (PDV) among the top four U.S. bank credit card issuers, rose 18.9% year-on-year (YOY) in the first quarter (1Q/17), compared to YOY growth rate of 10.0% in 1Q/16. Citi drove the YOY growth with the 2016 acquisition of the AmEx/Costco portfolio, according to CardData. The top four U.S. issuers racked up $334.5…
U.S. credit card outstandings end-of-period (EOP) among the Top 4 U.S. issuers gained 9.6% in the first quarter (1Q/17) year-on-year (YOY) to $396.7 billion. The YOY growth rate is down 130 basis points (bps), compared to the prior quarter, in line with historic seasonal patterns, according to CardData. The gain was largely driven by Citibank, as…
Cryptobuyer, a leading cryptocurrency and Latin American (LAC) digital asset specialist, Cryptobuyer, is the first company to install Bitcoin ATMs (BTMs) in a commercial bank. Two of its BTMs are now installed in the premises of Banistmo Bank’s headquarters. The installation of BTMs followed the recently-concluded Panamanian Association of Fintech event. Cryptobuyer was one of the…
In the e-business world losing existing customers to involuntary churn is the quiet culprit of profit loss, since it costs two times more to acquire a new subscriber than to keep an existing one. Recurring payment failure is the primary cause of involuntary churn, driven by insufficient funds, credit card limits, credit card expiration or replacement,…
FLEETCOR Technologies has ankled Steve Greene to President of Global Fuel Cards, a newly-created position for the company. His appointment is effective immediately, and he will be based at the FLEETCOR global headquarters in Norcross, Georgia. Greene will be responsible for developing and executing the growth strategy for FLEETCOR’s global fuel card product line. In his…
The Central Bank of Sri Lanka has inked a partnership with Japan’s JCB to establish the National Card Scheme (NCS) to introduce the issuance of LankaPay-JCB co-branded cards and to jointly promote the acceptance of such cards with JCB payment solutions. By integrating JCB payment solutions to LankaPay participant members and leveraging the planned interconnection…