Corcentric, a provider of cloud-based financial process automation solutions, has launched its newest product, an e-payments solution to help its customers further automate and digitize their payments processes. This integrated, end-to-end solution automates back-end accounts payable and payment transactions, processes all of a company’s disbursements, dramatically reduces accounts payable and payment costs and efficiently manages…
Gross dollar volume (GDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) in the U.S. climbed 6.8% year-on-year (YOY) in 2Q/16 reaching a record $1482 billion. Visa led the way in the second quarter posting a 9.0% YOY gain for U.S. GDV. Visa reported second quarter GDV of $883 billion, compared…
In Other News: MYC (webinar); CLEARENT (exec); BLUEFIN (P2PE); and YAPSTONE (exec). MYC – Master Your Card (MYC) sponsored by Mastercard, announced a new webinar series on card acceptance, developed in partnership with the Association of Women’s Business Centers (AWBC). The webinars are based on input and feedback from small business owners on how to…
Consumers credit card behavior improved since exiting the recession as evidenced by the growth of credit card limits in particular among the subprime credit card market. Yet, even with the solid improvements, the year-over-year figures indicate a slight increase in delinquency rates. Experian found the first six months of 2016 has shown that the total…
One of Thailand’s most reputable businesses just made a substantial play for Southeast Asia’s online credit card and card insurance comparison market – which until now was dominated by foreign players. The 138-year-old multi-billion dollar Thai conglomerate, B.Grimm, began quietly piloting their new financial comparison platform, Masii, to users in Bangkok last month. The site…
With the steady rollout of EMV and NFC at in-store POS terminals, the launch of retailer apps that allow mobile checkout (e.g., IKEA), and the development of alternative networks, the retail POS payments landscape is forever changed. Macy’s and Walmart are just a few of the big names offering consumer the opportunity to purchase online…
Alliance Data Systems card services will extend its Instant Issuance capability to incorporate EMV technology for co-brand cards and offer private label credit cards that can be printed onsite at retail locations, with an eye towards grand openings and other special events. This will enable customers to apply for a credit card and have in-hand…
Between 2013 and 2015, U.S. commercial card purchase volume grew at a compound annual growth rate of 9%. The major industry growth driver is electronic accounts payable (EAP) as both buyers and suppliers have increasing awareness of the value of card-based products in the payables flow. According to Mercator Advisory Group the increase in U.S.…
A new survey (58%) of consumers who have a credit card found they preferred cash back rewards, topping interest in travel rewards, store promotions and introductory interest rates or bonus rewards. Furthermore, the study found 66% would be interested in a credit card that would give an additional bonus on cash back rewards if those…
SC Kazkommertsbank, one of the largest acquirers and credit card issuers in Kazakhstan, is commencing Diners Club card business operations in Kazakhstan. Diners Club International is part of Discover Global Network. Kazkommertsbank will be the exclusive acquirer in Kazakhstan for Diners Club and other cards issued on Discover Global Network, which is made up of…
Retail Council of Canada says it has been the main advocate for a regulated solution to the credit card fee problem and welcomes this opportunity to shine a light on the multi-billion dollar costs imposed on all Canadians, including merchants, by Visa and MasterCard. Simply put, credit card interchange fees are far too high, with…
In Other News: UATP (Affirm); SUPERCOM (Nofshonit); HOYOS (Veridium); and USAT (FreshBrew). UATP – UATP has teamed up with Affirm, an innovative financial services provider, to provide technology that will allow airlines’ customers to purchase airfare in flexible installments, without a credit card. The partnership builds upon UATP’s payment technology platform providing speed to market for…