Starbuck’s reports membership in the company’s Starbucks Rewards loyalty program increased 16% year-over-year (YOY) and 8% sequentially (QTQ) for the first quarter (1Q/16). In February, the company announced an update to its loyalty program, which levels the playing field for customers who now earn 2 stars for every $1 spent, no matter how often they…
In Other News: SYNCHRONY (La-Z-Boy); SVM (Peoples Trust); CUNEXUS (DCU); and GIFTLOGIC (receipts). SYNCHRONY – Synchrony Financial inked a multi-year extension of its private label credit card program agreement with leading national furniture retailer La-Z-Boy. SVM- Peoples Trust, a federally chartered prepaid card issuer in Canada, has expanded its issuing services to SVM, a leader…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The EMV migration in the U.S. turned the payment card market on its head during the first quarter (1Q/16), as merchants struggled to catch up and assist/educate frustrated customers. During 1Q/16 EMVCo updated its EMV Payment Tokenization Specification – Technical Framework bulletin. The update will provide the payment community with a…
Worldpay unveiled a unique offering for the UK payments industry that will provide a greater range of payment pricing options, meaning SMEs can find the perfect payment plan to fit their business. Taking inspiration from the mobile telephony industry, the UK’s number one payment provider has added ‘Pay As You Go’ and ‘Fixed Monthly’ card…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] CA-based prepaid card specialist Green Dot reported flat revenues, a net loss and a drop in active cards for the fourth quarter (4Q/15). However, gross dollar volume (GDV) was up 5.8% year-on-year (YOY) and purchase dollar volume (PDV) increased 9.0% YOY for 4Q/15. Gross revenues for the fourth quarter were $150.9…
MasterCard is rolling out its new mobile payment verification services, pay-by-selfie and pay-by-fingerprint, this year in Canada, the US, and the UK. Retailers in the US and the UK are implementing security checks, such as 3D Secure and Verified by Visa, during the online checkout process. But the checks may obstruct the shopping experience, which…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Near Field Communication (NFC) continued to hit stride in the first quarter with new developments across the globe. Recent research predicts plastic cards gone by 2030 as NFC penetration explodes globally. A recent survey shows among all respondents, 73% have heard of Apple Pay, while awareness jumps up to 84% for…
Following a study on overdraft fees The Pew Charitable Trusts are encouraging the Consumer Financial Protection Bureau (CFPB) to consider limits for customers. About 84% of the largest banks allow consumers to overdraw their accounts when they lack sufficient funds to cover a transaction. The CFPB found that the median transaction amount of purchases that…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] International cash transactions (CTX) for Visa and MasterCard credit and debit cards grew by 8.2% year-on-year (YOY) in the fourth quarter (4Q/15). International CTX for credit cards decreased 4.6% YOY while international CTX for debit cards rose 9.2% YOY in 4Q/15. In the fourth quarter gross international payment card cash transactions…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. bank credit card active accounts (AAC) (accounts with sales activity), among the Top 4 U.S. issuers, slipped 1.5% year-on-year (YOY) in the fourth quarter (4Q/15). Capital One was the only issuer to post a positive YOY AAC gain in the fourth quarter. While Chase and BofA had slight erosion, Citibank…
Fiserv has unveiled CardFree Cash, a cardless way to withdraw funds at thousands of ATM locations nationwide. Fiserv says its patent-pending CardFree Cash changes the way cardholders access their money – allowing them to withdraw cash from an ATM without a physical card or surcharges. Using a secure token, CardFree Cash withdrawals are completed over…
Syniverse and First Performance Global have formed a joint venture to prevent fraud and identity theft as a result of real-time mobile transaction alerts and dynamic card controls. SyntraPoint will be able to allow cardholders to receive real-time alerts through multiple cross-channel delivery mechanisms, including in-app push, SMS, phone call and email. Additionally, transaction controls…
