[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Credit card profits have rebounded nicely during the recovery period following the Great Recession. According to R.K. Hammer’s Card Knowledge Factory, the pre-tax ROA (return on assets) for credit cards, during the Great Recession (2008-2009) averaged 2.88% (between 1.50% and 4.25%), while the S&P 500 averaged 1009, (2008 EOY at 903…
Intellicheck Mobilisa has been awarded a U.S. Patent that governs the two-factor fingerprint biometric identity process that authenticates an identity card with embedded fingerprint biometric information and the live biometric information of a person presenting the card. The patent has sweeping implications because it covers the process at the heart of the leading biometric fingerprint…
VA-based startup PayPortal is off to the races offering a flat-rate, online & wireless credit card payment processing product. The Company is founded by payment processing industry veterans Peter Groff and Terry Koepsell. PayPortal has partnered with PowerPay to offer a flat rate product at 2.79% + $0.30 per transaction, with absolutely no hidden fees…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Eight out of ten Millennials (25-34 years old) use credit cards to fund their lifestyle with nearly four out of ten likely to apply for a new credit card over the next 6 months. FICO’s latest consumer research on finance trends also found Millennials prefer new credit cards that offer: waived…
Mozido is powering international remittances for mobile wallet users in Sri Lanka. Mozido has partnered with MoneyGram in this groundbreaking service. Mobile customers of Dialog, Etisalat and Hutch in Sri Lanka registered with eZ Cash, the world’s first inter-operable mobile money service, can now receive international remittances through their eZ Cash mobile wallet. This provides…
Britain’s high street independent retailers could become an endangered species as they struggle to adapt to changing consumer shopping behaviors brought about by payment technology. Worldpay research has uncovered that both consumers (75%) and small business owners (60%) are deeply concerned about the diversity of Britain’s high streets in a new study released today. The…
Wirecard and MyOrder have teamed to offer new FinTech solutions. Wirecard and MyOrder now enabled GRPPY to create a shared wallet. GRPPY is Rabobank latest startup and is using the platform of MyOrder, for which Wirecard already provides the complete wallet infrastructure as a technical service provider. GRPPY, the group wallet on your mobile, is…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Credit spending growth slipped downward in May to 2.4% while SIG and PIN debit each increased slightly over April. According to aggregate same store sales activity in the First Data Point of Sale Network, was impacted by performance in Food Services & Drinking Places, Food & Beverage Stores, Travel, and General…
London-based VocaLink has rolled-out its new Zapp “Pay by Bank app” service is soon to be available to customers of four of the UK’s biggest banks. Zapp is the payment innovation team within the VocaLink Group. Whether users are registering for the first time or paying with a mobile, “Pay by Bank app” uses the…
Alpha Bank has become the first bank to offer MasterPass service to Greek customers, bringing innovation for digital and mobile purchases. Over 5,000 online retailers in Greece have recognized the new business opportunities e-commerce has to offer and have already enrolled for MasterPass, thanks to payments acceptance implementation provided by Alpha Bank, Eurobank and Piraeus Bank, the…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Two recent surveys have found conflicting data regarding millennials. Bankrate says 64% of millennials do not own a credit card, while FICO consumer research shows that 83% of Millennials fully use credit cards to fund their lifestyle. The Bankrate study shows that credit card usage increases with age, wherein 55% of…
The Bank of England and others want consumers being held responsible for fraud, a move that could ultimately spur more criminal activity. Bank and e-commerce fraud cost British financial institutions nearly £395 million last year, but those huge costs have been traditionally borne by financial institutions, not their customers. However, with fraud growing and the…
