Two of the world’s largest operating systems launched major updates to their mobile payments solutions this month. Both Google and Apple now have a solid platform in Android Pay and Apple Pay to enable frictionless mobile payments with integrated loyalty features.
New exponential smoothing analysis shows purchase transactions for U.S. Visa and MasterCard debit cards will slow to 6.7% in the second quarter, compared to 7.7% in the first quarter. CardData and RAM Research says U.S. credit card purchase transactions are quickly ramping up this quarter.
Purchase dollar volume (PDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) in the U.S. climbed 7.8% year-on-year (YOY) in Q1/15 reaching $1.1 trillion. RAM Research now predicts annual U.S. credit card PDV will top $4.1 trillion by 2019.
MasterCard has named Hiang Choong as Division President, Hong Kong, Macau and Taiwan. Mr. Choong was educated in Canada and Australia. He is a graduate of the Australian National University with degrees in Law and Arts with a double major in Psychology and Sociology.
SC-based RushMyBitcoin.com (RMB) is rushing to introduce Bitcoins to the general public with an exclusive introductory offer. For a limited time only, RMB will let Bitcoin newbies try a bite of their first bit”at no charge. The company calls it the “Get Familiar With Bitcoin” give-away, details of which are on its website.
San Francisco-based Credit Karma has received $175 million in a Series D funding round with participation from Tiger Global Management, Valinor Management and Viking Global Investors. Investors have made $368.5 million in total equity investment to date.
General purpose and private label credit, debit, and prepaid cards generated $5.165 trillion in payments for goods and services in 2014. Processing fees, including interchange paid by U.S. merchants to handle that business, were $78.09 billion, up from $72.44 billion in 2013 when fees were $4.768 trillion.