MN-based TCF Bank announced the availability of Apple Pay for its debit and credit cards. TCF has 382 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota, providing retail and commercial banking services.
Hangzhou-based Ant Financial Services Group is rolling-out its credit-scoring service Sesame Credit for China. The service will leverage “big data” technology and customer behavior analytics to make credit more accessible across the country.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Kyung-Hye Chun, Head of Corporate Service Group of BCcard.
Norway’s Telenor, TeliaSonera and Tele2 have selected the Amdocs Mobile Financial Services solution to advance their Strex joint venture for mobile payments. Mobile financial services are already very popular in Norway, with Strex handling more than 75 million SMS-based payment transactions annually.
MN-based Digital River is raising the stakes in India through a strategic partnership with local ecommerce provider Net Distribution Services (NDS). NDS has been building and operating branded online stores for both global enterprises as well as leading local brands for more than five years.
Disruptive new technology or business models in the payments industry are now kicking serious butt. A new report says social media and mobile messaging application providers have turned everything upside down.
CardWeb.com’s CardPixes database of more than 7,000 images today features the CITIC JCB Ultimate card.
Atlanta-based Sionic Mobile has reached 50,000 diverse shops, restaurants and retail locations nationwide where consumers can pay with a Sionic Mobile app on their smartphones and tablets. And there is more in the works.
Culver City, CA-based Lootsie, a startup loyalty and rewards platform for mobile apps, has snagged $3.5 million in seed funding. Since launching in 2012, the company has partnered with major retailers, brands and developers including SOL REPUBLIC, Manduka, Sevenlogics and All Shook Apps.
Miami-based Net Element’s Aptito released version 2.3 of its cloud-based mPOS platform. Aptito’s all-in-one restaurant and bar POS and business management software gives restaurants the tools to reduce payroll costs, improve efficiency, and increase customer satisfaction.
The average charge-off rate among the top four U.S. Visa and MasterCard issuers jumped 15 basis points (bps) in the fourth quarter after plunging to record lows most of 2014. Capital One (COF) Q/4 charge-offs soared 56 bps sequentially.
American Express reported fourth-quarter consolidated total revenues net of interest expense rose to $9.1 billion from $8.5 billion a year ago, up 7% (9% when adjusted for foreign currency translations). The revenue increase primarily reflected the previously reported gain of $719 million ($453 million after-tax) on the sale of the company’s investment in Concur Technologies. The increase also reflected a rise in cardholder spending and higher net interest income.