U.S. Cash Dollar Volume (CDV) for Visa and Mastercard (credit + debit) in the first quarter (1Q/17) grew at an annual rate (YOY) of 1.1%. The growth was driven by Visa debit cards, according to CardData. Visa and Mastercard reported $187 billion in 1Q/17 CDV for payment cards, compared to $186 billion in the prior…
When it comes to mobile apps Capital One ranked highest in the retail bank category while Discover ranked highest in overall satisfaction in the credit card category. According to the “J.D. Power 2017 U.S. Banking App and U.S. Credit Card App Satisfaction Studies”: • Ease of use/navigation is the most heavily weighted driver of satisfaction among…
Six out of 10 survey respondents (including 55% with a CFO title) had seen both the number and dollar amount of credit card chargebacks increase since the introduction of EMV chip cards. Furthermore, 64% of those surveyed (including 62% of CFO-titled respondents) measured increases in both the number and dollar amount of credit card chargebacks…
A new machine learning fraud score helps prevent fraud while reducing false-positives and improving customer experience. TSYS has teamed with Featurespace to launch TSYS Foresight Score with Featurespace. Foresight Score is a fraud and risk scoring tool that allows software to learn over time without being explicitly programmed — to bolster an issuer’s ability to…
GasBuddy, the only smartphone app connecting 65 million drivers with their Perfect Pit Stop, as buddied with corporate payment solutions provider, WEX. The partnership will focus on innovations that bring added convenience and savings to the more than 200 million driving consumers in the United States that fill up at retail gasoline stations, and represents…
U.S. credit card marketshare, based on purchase dollar volume (PDV) among the top 4 U.S. bank credit card issuers, shows Citi was the only issuer with a positive gain in the first quarter (1Q/17), compared to the prior quarter, and one-year ago, according to CardData. While Chase continues to hold a commanding 24.3% marketshare for…
International purchase transactions (PTX) for Visa and Mastercard credit and debit cards grew by 14.8% year-on-year (YOY) in the first quarter (1Q/17), excluding Visa Europe. Including Visa Europe, added starting 3Q/16, the YOY gain was 50.1%. International PTX, including Visa Europe, for credit cards increased 22.6% YOY while international PTX for debit cards rose 89.5%…
IATAI Enterprises (IATAI) and BPP have developed a universal and customizable payment, rewards and insurance solution for consumers, businesses and merchants. Handy U is a reloadable Visa virtual/digital account that enables IATAI’s travel and insurance clients to instantly make and receive payments, access benefits and redeem rewards generated by their loyalty programs. Handy U is…
The fraud frenzy is driving the global tokenization market and is expected to grow from $823.0 million in 2017 to $2.26 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 22.4%. Payment security and compliance management are among the application areas contributing to the growth of the tokenization market. The payment security application…
Conferences, exhibitions, workshops, hackathons, meet-ups and of course . . parties will dominate Fintech Week in London in mid-July. The main conference/exhibition takes place at the Grange Tower Bridge Hotel, but other events take place across the City of London, Canary Wharf and “Tech City.” The organizers of the fourth annual Fintech Week expect 600-1,000…
The Financial Solutions Lab at the Center for Financial Services Innovation (CFSI) with founding Lab partner Chase announced eight financial services innovators as the winners of its third competition, aimed at identifying solutions that can help Americans improve their financial health. Each winner will receive $250,000 in capital and additional resources to test, enhance and…
Total U.S. gross accounts (GAC) in the first quarter (1Q/17) for Visa, Mastercard, American Express and Discover U.S. credit cards was up 5.9% year-on-year (YOY). At the end of 1Q/17, there were 541.2 million U.S. credit GAC compared to 536.1 million for 4Q/16, and 510.9 million for 1Q/16, according to CardData. Visa U.S. credit GAC…
