U.S. cards-in-force (CIF) for Visa and Mastercard payment cards (credit & debit) increased 8.4% year-on-year (YOY) in the first quarter (1Q/17). U.S. credit cards increased 9.7% YOY while CIF for debit cards rose 7.5% YOY, in 1Q/17, according to CardData. There are were 1272 million Visa and Mastercard payment cards in circulation in the U.S.…
Gross or open accounts (GAC) for U.S. credit cards among the Big 6 U.S issuers rose 6.6% year-on-year (YOY) in the first quarter (1Q/17) to 291.4 million, compared to 286.1 million in the prior quarter, and 273.5 million one-year ago, according to CardData. The growth is driven by Citibank and its acquisition of the American…
The National Institute of Standards and Technology (NIST)’s recommendation to deprecate SMS one-time passcodes as a second factor of authentication takes a big leap forward with the help of Payfone. Payfone’s Instant Authentication for Mobile solution thwarts SMS Hijack and SMS-forwarding attacks. The company’s proprietary technology prevents these types of attacks by replacing easy-to-intercept OTPs…
FIS Cardless Cash, which reduces the risk of card skimming, will be deployed on Cardtronics ATMs nationwide is a 24-month roll-out. The deployment for mobile users by Cardtronics, the world’s largest ATM owner/operator, will not require hardware upgrades. FIS Cardless Cash, which leverages the FIS Mobile Banking app, enables banking customers to withdraw funds from…
Poynt has inked a strategic partnership with Wirecard to expand the availability of Poynt Terminals (the Poynt Smart Terminal and the Poynt 5) in Europe and Southeast Asia. The partnership will enable Wirecard to offer businesses of all sizes the most innovative payment solution on the market today. Poynt Terminals’ sleek design makes them easily…
The first legitimate debit payment solution for the cannabis industry is set to capture dispensary owners, customers, and patients in Oregon’s recreational and medical cannabis marketplaces. CO-based CanPay dispensaries in the state are now able to offer a secure, legitimate, and transparent alternative to the current cash-only system for both in-store and delivery purchases. Initially,…