Socredo Bank, the largest commercial bank in French Polynesia (also known as Tahiti) is issuing the first local UnionPay card next year, and comprehensively upgrading the cross-border use and online payment of Socredo-issued bankcards. French Polynesia is a group of South Pacific islands. Over half of the local residents are clients of Socredo Bank. The…
Worldpay is helping businesses unlock the full power of their payments data with the unveiling of a revolutionary big-data analytics tool, Your Marketplace. The service has been designed with the needs of large corporate businesses in mind, giving them the actionable insights they need to make better business decisions and transform everyday operations by putting their…
More major purchase shoppers report starting and ending their shopping journey online this year and spending less time (63 days on average vs. 68 days in 2015) on the path to purchase than in the past. Empowered with research, reviews and real-time discount information, shoppers making purchases of $500 or more are more decisive and…
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…