San Francisco-based Affirm is aiming to take on Visa, MasterCard, American Express and Discover for consumer loans. The firm raised $275 million in debt and equity financing this week.
U.S. purchase transactions (PTX) for Visa and MasterCard credit cards increased 12.3% year-on-year (YOY) while PTX for debit cards rose 7.7% YOY, in the first quarter, according to CardData. However, the average ticket for credit and debit combined declined slightly YOY from $53.15 to $52.84.
South Korea’s Hyundai Card has inked a deal with China’s UnionPay International to issue 12 types of UnionPay card products. All major card issuers in South Korea offer UnionPay cards. BC UnionPay China Pass Debit Card is the first UnionPay card issued in South Korea.
Visa Europe has reached critical mass for V.me by Visa acceptance in the UK. Currently, 55% of the UK’s issuance base, or 60 million cardholders plus thousands of UK’s retailers are in place to commercially rollout V.me by Visa at scale in the UK this year.