The charge-off ratio for the top 100 U.S bank credit cards has been slowing edging upward, rising 10 basis points (bps) in the fourth quarter and 1 bps in the first quarter. RAM Research projects charge-offs will rise to 3.02% for the second quarter.
Six members of the European Automated Clearing House Association (EACHA) have joined forces to deliver centralized and optimized processing services for SEPA transactions. For this purpose they have set up a new company called European Clearing Cooperative (ECC).
About 46% of Canadian consumers prefer to pay using their credit cards more than any other payment method, compared to 34% in 2014. Nearly 30% indicated they were highly interested in the ability to use a mobile phone to stop an unauthorized transaction.
Seamless’ mobile payment service SEQR, which this spring has become established as one of Europe’s leading mobile payment solutions, is continuing its rapid roll-out into new markets. Having been introduced in a number of European countries in the spring, a couple of weeks ago the service was launched in the US and now it’s the UK’s turn.
Brooks Brothers and Citi Retail Services have inked a new multi-year credit card relationship. As part of the agreement, Citi Retail Services, a unit of the 203-year-old global bank, will provide private label and co-branded credit cards for the nearly 200-year-old retailer.
FL-based ZipLine, a merchant-branded mobile and ACH payment solutions provider offering consumers instant rewards at the pump and POS, announced the appointment of consumer loyalty and payments veteran Roger Brooks, as Senior Vice President of Business Development.
MasterCard announced that Rama Sridhar will take on the new role of Group Head, Regional Lead, Asia Pacific, Network, Processing & Security Solutions effective immediately. In this newly expanded regional role, Rama will take on responsibility for integrating the services of Network Products, Processing and Enterprise Security Solutions (ESS) into the regional go to market strategies.
Based on the data issued by the China National Tourism Administration, the purchase of outbound tourism in 2014 reached 115 billion USD (about 724.5 billion RMB), with year-on-year growth of more than 20%. At present, UnionPay cards have become the preferred payment brand of outbound Chinese tourists.