New research shows nearly two-thirds of Americans are now smartphone owner and 57% have used their phone to do online banking. However, nearly half of smartphone-dependent Americans have had to cancel or shut off their cell phone service for a period of time because the cost of maintaining that service was a financial hardship.
The Democratic Republic of Congo’s Banque Commerciale Du Congo (BCDC) has inked a deal to issue thousands of MasterCard Debit cards to its customers. The new cards will be targeted primarily at private banking clients and at expatriates living and working in the country.
Countries that have already adopted EMV have experienced a significant increase in online fraud following the migration, and the U.S. is not expected to be an exception. In fact, online fraud increased 21% in Europe in 2012, in part due to the introduction of EMV cards.
Only 58% of students from four-year institutions said they were prepared to manage their money, while 12% of respondents said they never check their bank balances because they are too nervous. Additionally, 16% of student respondents lived paycheck to paycheck and yet only three-quarters stopped spending when their bank account balances were low.
Visa’s average ticket (TIX) per point-of-sale (POS) purchase has been rock solid for the past five years. According to CardData, the Visa average TIX for full-year 2014 for credit cards is $84.18 and $37.57 for debit cards, down 60 cents and up 48 cents respectively, compared to 2010.