FICO has been awarded four new patents related to fraud detection and advanced analytics. FICO now holds 170 US and foreign patents, and has 93 pending patent applications.
Discover’s Diners Club International signed a deal to further grow Discover and Diners Club card acceptance in the UK and Europe. The contract with The Logic Group offers services based on supporting Omnichannel customer interactions whether managed payments or loyalty solutions and integrating these to provide customer insights.
MA-based mobile wallets specialist Cortex MCP has inked the former president and CEO of payment management company CyberSource for its board. Michael Walsh has an extensive background in the payments and technology industries.
Following Discover and Capital One, Citi has begun delivering complimentary FICO Scores to Citi-branded consumer credit cardholders. Citi ended 2014 with 23.6 million U.S. bank credit card accounts.
Gemalto has deployed prepaid EMV banking cards to complement Vodacom’s m-pesa mobile wallet service in South Africa. As a result, Vodacom becomes the first mobile operator to initiate the large-scale rollout of an EMV banking card that is accepted anywhere.
While the banking industry is avoiding the emerging marijuana-related business, mainstream investors are preparing to jump in as it is expected to become legal in many more states within the next three years.
Synchrony Financial is plowing bucks into GPShopper, a developer of mobile apps with a focus on the retail industry. GPShopper’s solutions empower retailers to garner customer engagement and loyalty by bridging the online and in-store shopping experience with the use of mobile technologies.
Americans still have an affinity for cash over credit cards. A new survey found respondents between ages 18-64 say they prefer cash/debit over all other forms of payment. Those 65+ prefer credit cards.
The clock is ticking for the U.S. EMV migration deadline, but new research shows more than 50% of retailers not fully prepared as EMV deadlines approach.
AZ-based 5th Dimension Logistics has unveiled its advanced Automatic Recurring Billing system (ARB): an enterprise-level system designed to assist corporations by automatically billing accounts placed on recurring billing and layaway plans. With this launch, 5th Dimension Logistics has continued to emphasize the importance of a simple all-in-one solution.
Western Union expanded its global relationship with UAE Exchange, an international money transfer retailer, from North Africa and Middle East to securing retail presence in 16 major city centers in the United Kingdom, Ireland, Germany & Netherlands.
Anyone paying attention knows credit unions and banks have had their card interest income business models under siege since 2008. So it no surprise that renewed attention has been turned instead to fee income models, and ways to boost that increasingly important revenue stream.