In today’s CardFlash News Que: BUZZPOINTS (Mills); SHIFT4 (Darien); CASHSTAR (webinar); and TECHNAVIO (POS).
Charge-offs among the nation’s top 6 issuers inched up 8 bps year-on-year (YOY) to 2.65% for the third quarter, but down 15 bps sequentially, according to CardData. Citibank has done the best job of reigning in card losses, dropping 44 bps, compared to 2Q/15.
American consumers continue in a buying mode after ratcheting up revolving credit by $6.7 billion or 8.7% year-on-year (YOY) in September.
Total revolving credit for September posted at $925.2 billion, compared to $918.5 billion in August, and $914.5 billion in July.
Like the U.S. consumer U.K. spending is heating up +2.1% on an annual basis, up from a +1.9% rise in September, and the strongest annual rate of growth for three months. Spending also rose slightly on the quarterly and monthly spending measures in October.
Companhia Brasileira De Servicos De Marketing, operator of Brazil’s dotz loyalty program, in which Alliance Data System’s LoyaltyOne holds a sizeable equity stake, has expanded into the metropolitan area of Rio de Janeiro, with a population of 6.3 million and the second-largest city in Brazil.
PA-based Datacap Systems has completed US EMV level 3 certification with FL-based Sterling Payment Technologies and released an EMV-capable version of NETePay available for download immediately. NETePay for Sterling provides hundreds of point of sale providers with the ability to deliver US EMV functionality via an evolving list of PIN Pads through a simple out-of-scope interface.
Cyber security specialist WISeKey has made available its Cryptographic Root of Trust to Japanese IoT manufacturers and Chipmakers allowing them to add digital certificates on their chips at the hardware level to encrypt the communication and authenticate the devices.
Here it comes ” a short-term interest rate hike next month of 25 basis points for the first time since the first quarter of 2006. The prediction is based on today’s BLS report that payroll employment increased by 271,000 in October with the unemployment rate essentially unchanged at 5%.