CardWeb.com’s CardData Reports today features the inaugural Middle Market Power Index from American Express and Dun & Bradstreet. Using Dun & Bradstreet’s proprietary databases of commercially-active U.S. firms, the report analyzes the characteristics and economic impact of middle market enterprises”defined as businesses generating between $10 million and $1 billion in revenues.
Slightly more than one in five dollars (21%) of U.S. business revenues come from the middle market, and these firms employ over one in four workers (28%) in the private sector. Middle market companies have led job growth since 2008, with a 4.4% increase in private sector employment”outperforming both smaller businesses (less than $10 million in revenues) and the largest companies (more than $1 billion in revenues).
CardWeb.com’s CardPixes database of more than 7,000 images today features the RBC Visa Infinite Avion card.
Shopify is a cloud-based commerce platform designed for small and medium-sized businesses is now going public. Shopify currently powers over 160,000 businesses in approximately 150 countries, including: Tesla Motors, Budweiser, Google, Wikipedia, LA Lakers, GoldieBlox, and many more.
Issues in supporting 3D Secure (Verified by Visa and MasterCard SecureCode) in the travel agency distribution channel are coming under the microscope. The second task force focused on improving processes to reduce credit card acceptance costs, including fraud and chargebacks.
In today’s CardFlash News Que: KOFAX (Blackhawk); SAFECHARGE (Tain); Q2 (Acculynk); and
Amalto Technologies (ServiceMax).
Chase reported purchase dollar volume (PDV) in the first quarter of $112.8 billion, up 7.9% year-on-year (Y/Y). The number of active credit card accounts also ticked up to 32.5 million, a 4.8% increase over first quarter 2014.
Wells Fargo Credit card first quarter outstandings were down 3% QOQ to $30.08 billion on seasonality, but up 15% YOY reflecting new account growth and growth in private label and co-brand outstandings driven by the card portfolio acquisition in 4Q14.
Gemato says even if a token is intercepted, its reuse would be very limited, meaning that incidences of ‘cross-channel’ fraud can be significantly reduced. Transaction keys needed for EMV payments can also be replenished on a regular basis, further limiting the validity period of the transaction.
Next week is the important World Economic Forum on East Asia in Jakarta (Apr 19-21). MasterCard released the latest findings of basic finance knowledge and skills across Asia/Pacific and discovered a stall in 12 of 16 countries with record lower scores in the latest Financial Literacy Index.
eBay continues to rejigger the upstair suits as it prepares for the separation of eBay and PayPal into independent publicly traded companies in the second half of 2015.
PreCash has inked a partnership with ProPack, developer of the productivity toolbox app for Android devices, to include its Evolve Money bill pay application in ProPack’s productivity bundles.