In a payment card industry first, Clements Worldwide and the State Department Federal Credit Union (SDFCU), have teamed to offer a credit card-based term life insurance program.
While credit card ownership remains relatively flat, user demographics are changing as young adults return to credit card use. Over half of young adult in the U.S. now use credit cards, especially the 25-34 year olds, who now are as likely as average to do so.
JetPay Payment Services and Cardis USA launched of a new small payments processing solution. JetPay is a full end-to-end payments processor specializing in complete technology solutions for the e-commerce and card-not-present (CNP) marketplace. Cardis is a developer of low-value payment processing solutions.
Citibank’s U.S. bank credit card profits rose 22.4% year-on-year (Y/Y) and retail credit card profits rose 1.4% Y/Y in the fourth quarter of 2014 (Q4/14). End of Period (EOP) bank credit card outstandings declined 4.3% Y/Y, while purchase dollar volume (PDV) rose 3.9% Y/Y.
UK consumer spending trends confirms that household spending saw its strongest calendar year of growth since 2010. November was particularly strong as Black Friday sales at the end of the month tempted consumers to bring forward their Christmas spending.
There are conflicting forecasts regarding the outlook for the global m-commerce market between 2015 and 2019. On the low end is a compound annual growth rate (CAGR) of 22%, while the high end the CAGR is predicted to be 32%.
Fiserv unveiled CardValet enabling cardholders to turn their card off when their card is not in use, establish spending limits to allow transactions up to a certain dollar value and decline transactions when amounts exceed predefined thresholds. In addition, transactions can be monitored or controlled for specific merchant categories.
Blackhawk Network’s German subsidiary, Retailo has teamed with Deutsche Kreditbank to enable DKB’s customers to digitally purchase gift cards for Facebook, Nintendo eShop and Spotify using their online bank accounts.
NY-based inLighten’s iGIVE Digital Donation Kiosks are now considered the “Hot Religious Product” of the year. iGIVE enables churches to accept donations via cash, check, credit/debit card and online payment services.
Austin-based Buzz Points has named Dwayne Spradlin as Chief Executive Officer. Since its launch, Buzz Points has expanded to 32 markets in 24 states.
Fiserv launched CardValet mobile card management application allowing financial institutions to improve cardholder engagement and reduce fraud losses. In doing so it allows cardholders to monitor and control how, when and where their cards are used. CardValet from Fiserv is a turnkey mobile application that can be downloaded from the Apple App Store or Google Play Store. Using CardValet, cardholders can turn their card off when their card is not in use, establish spending limits to allow transactions up to a certain dollar value and decline transactions when amounts exceed predefined thresholds. Transactions can be monitored or controlled for specific merchant categories, such as travel, restaurants, or entertainment, and can be denied or reported for specific types of merchants. Alerts can also be established to inform cardholders of specific types of transactions and sent when a card is used, when a transaction is approved and exceeds any of the permitted use policies, or when a card transaction has been attempted.
NY-based ShopKeep has introduced a new iOS mobile reporting application that enables merchants to quickly access their business data in real-time, wherever they are. The cloud-based technology provider has more than 16,000 registers in use by retail shops, restaurants, and other organizations.