Profits (after tax) among the nation’s Big 6 U.S. credit card issuers declined 4.9% in the first quarter (1Q/16), compared to one year ago (YOY) and, down 2.0% sequentially (QTQ). Aggregate card after tax profits for the Big 6 issuers logged in at $3789 million for 1Q/16, compared to $3867 million for 4Q/15 and $3984…
In Other News: NAB (Velocity); PARAGON (FSS); CREDITCALL (MEPSA); and VIRTUAL PIGGY (IMPACT). NAB – NAB Velocity, the front-end omnichannel payments platform from award-winning credit card processor North American Bancard Holdings, has entered into a partnership with Enspire Commerce’s RetailPoint, a cloud-based mobile point-of-sale (mPOS) customer engagement solution targeted to small and mid-sized businesses. The…
Delta Air Lines has become the first U.S. airline to accept UnionPay cards online. On August 8, UnionPay International and Delta Air Lines jointly announced that the official website of Delta (delta.com) would accept UnionPay cards (card number starting with 62) issued both in mainland China and abroad. Previously, UnionPay International has cooperated with international…
The debit industry’s shift to chip (EMV) cards and mobile payments is in earnest as competition grows among mobile wallet providers. However, in this sea of change, core debit performance metrics remain strong. By the end of last year, almost half (45%) of issuers had begun issuing chip debit cards, although this is much lower…
A new study has found EMV adoption has been hampered by bottlenecks throughout the U.S. payment system and that the emphasis on security has pushed aside other priorities such as mobile payment. Reducing credit and debit card fraud by implementing EMV chip card acceptance has become retailers’ top payment issue in 2016, but retailers are…
In Other News: FTC (crowdfunding); PAYRANGE (AFV); GRANT STREET (OH); and I2C (Agile). FTC – The Federal Trade Commission will host its second FinTech Forum on Oct. 26, focusing on two topics of increasing interest to consumers: crowdfunding and peer-to-peer payment systems. The event is designed to bring together perspectives from across the landscape of…
Wirecard is teaming with O2 Czech Republic to offer a unified solution to all retailers in the Czech Republic. Thanks to the new cooperation, O2 as the largest telecommunication provider in the Czech Republic will offer their merchants a product named eKasa which is a fully online, tablet based fiscal till system together with credit…
In Other News: FLEETCOR (Speedway); CNVA (PayRange); BLUESNAP (Visa Checkout); and MOZIDO (PayEase). FLEETCOR – FleetCor Technologies has signed an agreement to manage the commercial fuel card program for Speedway LLC (Speedway). Under the terms of this new agreement, FleetCor Technologies will provide a variety of services in support of Speedway’s SuperFleet program including transaction processing and overall…
The flattening EMV card market in China and a dip in U.S. EMV card shipments, due to overstocking, is set slow down. The Chinese and U.S. EMV payment cards markets are experiencing double-digit year-on-year growth, responsible for more than 50% of 2.8 billion EMV cards shipped worldwide. However, a new report from ABI Research finds…
U.S. small business optimism in the third quarter reached its highest reading since Jan 2015, following several quarters of incremental shifts. The latest Wells Fargo/Gallup Small Business Index, conducted July 6-12, yet overall it has remained relatively stable throughout 2016. In the quarterly survey, which measures the optimism of small business owners, the overall Index…
In Other News: BEVRAGE (rebates); VIRTUAL PIGGY (P2P); VANTIV (PaymentsEdge); EXPENSEANYWHERE (app). BEVRAGE – bevRAGE announced the formal unveiling of its mobile application that delivers instant cash back rebates to consumers purchasing beer, wine and liquor. The new app, which is live today in Apple’s App Store and Google Play, is designed to provide savings…
More than eight of 10 U.S. MasterCard consumer credit cards have chips, representing an 88% increase in chip card adoption since the 2015 liability shift started to bring EMV-secured payments to the U.S. MasterCard also sees 1.7 million chip-active merchant locations on its network, representing nearly 30% of the U.S. merchant population and a 374%…