Robert McKinley, Senior Analyst/Editor Robert McKinley is an analyst of the payments industry on a daily basis for 32 years covering payment cards and payment systems from both the business side and the consumer side. McKinley is the retired founder and chief executive of RAM Research, CardWeb and CardTrak. In his prior position, McKinley has participated in more than 10,000 documented news media interviews, testified as an expert witness in two separate $billion+ U.S. anti-trust trials, testified before the U.S. Congress, assisted the GAO with paymentsIMG_2006 (1).jpeg reports, chaired numerous business conferences and provided C-Suite opinion to a multitude of Fortune 500 companies. In retirement, he has continued developing and funding digital media assets as well as contributing payments related analysis/content to a broad list of online publishers, including CardFlash, CardTrak and CardData. McKinley is also a national certified mentor with the non-profit SCORE organization with a focus on assisting Fintech startups. www.robert-mckinley.com

Big 6 U.S. Q1 Active Accounts Rise 7% YOY Despite Rising Attrition & New GAC Churn

U.S. bank credit card active accounts (AAC) (accounts with sales activity), among the top six U.S. issuers, increased 7.0% year-on-year (YOY) in the first quarter (1Q/17), according to CardData. There were 169.2 million active bank credit card accounts for 1Q/17 in the U.S. among the top six issuers: Citibank; Capital One; Chase, Bank of America,…

Q1 U.S. GDV Marketshare: Visa +240 bps AXP -150 bps YOY

The nation’s four major payment card networks produced $1485 billion in U.S. gross dollar volume (GDV) in the first quarter (1Q/17) for a 6.0% year-on-year (YOY) gain. Visa continues to rule the market, growing its U.S. GDV marketshare from 58.7% in 1Q/16 to 61.1% in 1Q/17, largely at the expense of American Express, according to…

SMS Hijack Attacks Raising Concerns Sending One-Time SMS Passcodes

The National Institute of Standards and Technology (NIST)’s recommendation to deprecate SMS one-time passcodes as a second factor of authentication takes a big leap forward with the help of Payfone. Payfone’s Instant Authentication for Mobile solution thwarts SMS Hijack and SMS-forwarding attacks. The company’s proprietary technology prevents these types of attacks by replacing easy-to-intercept OTPs…

CardLess Cardtronics ATMs to Pop Up Everywhere in the US Over Next 2 Years

FIS Cardless Cash, which reduces the risk of card skimming, will be deployed on Cardtronics ATMs nationwide is a 24-month roll-out. The deployment for mobile users by Cardtronics, the world’s largest ATM owner/operator, will not require hardware upgrades. FIS Cardless Cash, which leverages the FIS Mobile Banking app, enables banking customers to withdraw funds from…

CanPay Debit Enters Oregon to Capture Cannabis Dispensary Payments

The first legitimate debit payment solution for the cannabis industry is set to capture dispensary owners, customers, and patients in Oregon’s recreational and medical cannabis marketplaces. CO-based CanPay dispensaries in the state are now able to offer a secure, legitimate, and transparent alternative to the current cash-only system for both in-store and delivery purchases. Initially,…

V + MA International Q1 GTX +12% YOY Discounting V EU

International gross transactions (GTX) for Visa and Mastercard credit and debit cards grew an adjusted 11.8% year-on-year (YOY) in the first quarter (1Q/17). International unadjusted GTX for credit cards increased 22.5% YOY while international unadjusted GTX for debit cards soared an unadjusted 62.4% YOY in 1Q/17, according to CardData. The data are skewed by the…