Charge-offs among the nation’s top six credit card issuers will likely drop to 2.33% in the fourth quarter, but will likely inch up in the first quarter as delinquency ramps up. The fourth and first quarter are somewhat skewed due to the seasonality denominator.
Lebanese payments cards are growing at a compound annual growth rate (CAGR) of 3.41% since 2009 and now total more than 1.8 million. In terms of transaction value, payment cards valued LBP15.5 trillion (US$10.3 billion) in 2013, running at a CAGR of 12.07%.
Move over Xapo here comes Blade Financial, headed by the former GM of American Express’s prepaid card business. Blade Financial is the the first company to bring debit card programs directly to bitcoin businesses.
NY-based PayItSimple in collaboration with Spreedly have completed integration with an additional 30 payment gateways to provide PayItSimple service to US-based merchants. With the addition of these gateways, PayItSimple is now integrated with approximately 70% of all payment gateways in the U.S.
San Diego-based PayLease has unveiled several mobile solutions that will enable residents to pay rent or HOA dues using a smartphone.
Residents of communities who use PayLease can now download a free iPhone or Android app to pay their rent with a mobile device.
Men’s fashion brand 2(X)IST via “Virtual Stores” has partnered with innovative mobile platform PowaTag to transform the way people shop.
Millions of passersby in December will be able to browse and purchase the latest 2(X)IST underwear ranges by using their phone to scan tags on virtual storefronts across key locations in the heart of the city making ordinary street corners a virtual marketplace for 2(X)IST.
Scotia Security Group is bringing a proven ATM Cassette Guard to the U.S. from the U.K. ATM Cassette Guard restricts access to the ATM’s cash cassettes during cash replenishment.
American Express is going toe-to-toe with Visa after announcing the opening of a new technology hub in Palo Alto, expanding its presence in Silicon Valley. The new team being assembled will focus on innovations in big data, cloud computing and mobile infrastructure.
GA-based Bluefin Payment Systems has teamed with Priority Payment Systems to provide Bluefin’s PCI-validated Point-to-Point Encryption (P2PE) Solution to Priority Payment clients.
BlueSnap is now offering new Coupon and Bank Transfer APIs that will help merchants increase sales and convert shoppers this holiday season. The Coupon API allows merchants to manage their own coupon library while the Bank Transfer API will allow shoppers to pay for online goods by transferring funds directly from their bank accounts
Nets announced its latest partnership with Skandia Bank to oversee its issuing services for its payment cards. For Skandia’s bank this means becoming part of a larger IT infrastructure and therefore avoiding having to develop and maintain complicated IT systems themselves. For Nets, this contract is another important step into the Swedish banking market. All services provided are core Card services which Nets already supplies to a large number of banks in Norway, Finland, Denmark and the Baltic countries.
Alliance Data Systems completed the acquisition Conversant.
Conversant, which will operate under Epsilon, establishes a unique end-to-end marketing services company that will empower clients to more effectively market to their customers across all channels.