Luxembourg-based Yapital and TOTAL have teamed to deliver the first European cashless cross-channel payment solution. The rollout to the TOTAL petrol station network in Germany will be completed by summer 2015.
Movistar and MasterCard launched “Your Mobile Money” electronic money service to provide offer significant savings in their money transfers. The service is available in 20 of the country’s departments to Movistar’s 16 million plus mobile customers, allowing customers to access an electronic money account. It creates a link their telephone number to their “Your Mobile Money” card, and will be able to make financial transactions such as sending and receiving money from a cell phone. It ultimately makes card purchases at MasterCard-affiliated establishments, and replenishing the balances of their own or third-party cellphones.
After completing a four-month nationwide rollout of its Preferred Rewards program in October, Bank of America launched a major advertising campaign this week to round up more enrollees.
NCR consumer transaction technologies signed agreement to build a new world headquarters campus in Atlanta. This will enable the company to continue to attract talent to support its hardware-enabled, software-driven business. The new campus will be located at Centergy North at Technology Square on Spring Street, and will provide NCR with a state-of-the-art presence. In addition to helping the company consolidate a number of disparate facilities into unified and contemporary work environments and will allow retail and hospitality customers from all over the world to experience NCR technology solutions.
London-based Monitise has partnered with the MoneyPass Network to offer a range of advanced Mobile Money services and card control capabilities to card issuers in the U.S. The MoneyPass Network is operated by Elan Financial Services, a division of U.S. Bank.
Chase reported record purchase dollar volume (PDV) in the fourth quarter of $123.6 billion, up 9.8% year-on-year (Y/Y). The number of active credit card accounts also ticked up to 34.0 million, a 5% increase over end-of-year (EOY) 2013.
The Pakistan payment card market is growing leaps and bounds, driven by government economic reforms, resulting in a 26% compound annual growth rate (CAGR). More than 29 million credit and debit cards were in force (CIF) at end-of-year (EOY) 2014.
There is a strong possibility interchange fees on some European debit and credit card transactions will officially be capped by the European Parliament and the European Council before year-end 2015. Banks will be most impacted, but three-party systems that rely on bank issuers will also feel the impact.
MasterCard appointed Michael Fiore group executive Global Prepaid Solutions. A ten year veteran with the company, he will lead the ongoing development and execution of the company’s global prepaid strategies. These programs provide individuals, organizations and governments with tools that create more efficient, easier ways to receive, hold and activate money. Fiore replaces Ron Hynes, who recently left MasterCard to pursue a new opportunity. Most recently with Mastercard, Mike led the company’s cross-border remittance, person-to-person payment and disbursement strategies and was instrumental in the acquisition of Orbiscom.
Wells Fargo reported an impressive 15.6% year-on-year (Y/Y) increase in bank credit card outstandings for the fourth quarter (Q4/14). Credit card penetration in retail banking households rose to 41.5%, up from 37% in prior year.
U.S. Bank’s Elavon business unit is introducing a turnkey mobile POS system for small and medium businesses (SMBs) in the U.S. Elavon is joining forces with Verizon and talech to create the SMB solution.
Delhaize America has picked Verifone’s multi-media, EMV and NFC-capable MX 925 payment terminals to enhance consumer engagement at the POS across all of Delhaize America’s U.S. locations.