U.S. bank credit card active accounts (accounts with sales activity), among the top six U.S. issuers, will likely notch up 1.5% year-on-year (YOY) in the third quarter, according to RAM Research. In the second quarter active accounts among the Big 6 grew 1.4% YOY and flat quarter-to-quarter (QOQ), according to CardData.
Profits among the big four U.S. based payment networks are projected to rise 10.9% year-on-year (YOY) in the third quarter says RAM Research. Driven by Visa’s electric performance in the second quarter with net income rising 24.8%, payment card profits for the top four networks rose 10.7% in the second quarter, compared to one-year ago, according to CardData.
UK household spending remains robust with a +1.8% year-on-year (YOY) increase in spending in September.Though solid, the pace of increase was slower than the average annual increase in 2015 so far of +2.4%.
NBD Bank and MasterCard and NDB Bank have inked a partnership to bring the MasterCard Purchase Control solution to Sri Lanka. Offering a simple, effective and secure means of controlling spending, reducing operational costs, and enforcing compliance with corporate policy, the solution marks a revolutionary change to the manner in which commercial transactions are conducted in Sri Lanka.
Verifone has expanded its taxi and car-for-hire electronic hailing (e-hail), payment and media business with the acquisition of Curb, a business that connects people in approximately 60 U.S. cities with rides from professional, insured, and fully-licensed taxi drivers. Using Curb’s e-hail app, passengers take more than 100,000 rides each month.
Wincor Nixdorf has unwrapped its new automated teller machine (ATM) on the market that enables customers to withdraw cash using a smart phone or a near-field communications (NFC) card. The system’s innovative design is intended to appeal especially to digital natives who have grown up with digital and mobile technologies.
HKT, 33 Finance and HNA Transforex each inked multi-year agreements with First Data to enable mobile payment services, prepaid transaction card systems and issuing and processing services, respectively.
Synchrony Financial has inked PayPal to a long-term extension of its relationship for a credit card program including the co-branded Dual Card MasterCard credit program for consumers in the United States and Puerto Rico.
Spain’s postal industry leader Correso in Spain, has partnered with Prepaid Financial Services (PFS), an European issuer and program manager of physical and virtual prepaid card products, to launch the contactless Correos Prepago MasterCard card.
Chicago-based Arroweye Solutions has ankled Jeff Lipa as vice president of business development. Lipa previously worked for Affinion Group and Digital Insight.
Tamarac, FL-based 3dcart has unveiled its new iPad compatible point-of-sale (POS) system. Benefits of the 3dcart POS app include the utilization of the latest cloud-based technology, saving merchants valuable time and energy with automatic, secure order and product synchronization.
In today’s CardFlash News Que: CYBERSOURCE (LINE); EVED (EvedPay); CHILI’S (mPay); and CUP (spending).