In Other News: SIONIC (ION); VISA (survey); TECHNAVIO (MEMS); and BOFA (Alaska Airlines). SIONIC – Sionic Mobile reports ION Rewards for Apple Watch are now available for immediate free download in the App Store. For each mobile checkout, users instantly earn IONs that spend like cash and can be used at more than 100,000 merchant…
When it comes to the best customer experience the credit card industry averaged a 63% rating out of 20 industries. A new survey reveals USAA and Discover deliver the best customer experience in the credit card industry. According to the 2016 Temkin Experience Ratings, USAA and Discover topped the list. Out of the 11 credit…
[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…
[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…
[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…
In Other News: VISA (EU); ADS (BBBY); CHASE (Shell); and PAYMENT SAVVY (API). VISA – The European Commission has approved the proposed acquisition of Visa Europe Ltd. by Visa Inc. Visa has now received all regulatory approvals required for the acquisition. The transaction has already been cleared by both the Jersey and the Turkish competition…
Dubai-based Swiftch, a payment securing the first Visa Ready and MasterCard self-certified mobile card payment acceptance solution for merchants and acquirers throughout the United Arab Emirates (UAE), is using the Thales payShield 9000 hardware security modules (HSMs). UAE is highly developed in terms of IT infrastructure, internet and smartphone usage, and yet cash is still…
MasterCard and CASHU, one of the top players in the online payment industry in the Middle East and North Africa (MENA), has launched its first CASHU Virtual Prepaid Card in the UAE. The deal includes Noor Bank, a Shari’a compliant bank in the UAE. UAE residents with a registered CASHU account will be able to…
OIn Other News: JCB (CFCM); ACI (Raphaels); RP (TPS); and ZOZI (SaaS). JCB – JCB International (JCBI) and Caisse Federale de Credit Mutuel (CFCM) have inked an agreement expanding the acceptance of JCB cards in France. From July 2016, CFCM will add acceptance of JCB cards at CFCM merchants and ATMs throughout France, reinforcing its…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Mitigating credit and debit card fraud could be challenging since the start of U.S. EMV migration. A new report find issuers experience $10.9 billion in direct annual losses to card fraud overall. The LexisNexis Risk Solutions card issuer fraud study, Issuers Confront Application Fraud and Account Takeover in a Post-EMV U.S.,…
MGM Resorts is beefing-up its MGM Loyalty Program to M life Rewards and launching a new MasterCard with First National Bank of Omaha (FNBO). The new M life Rewards MasterCard is being issued in partnership with First Bankcard, a division of FNBO. The premier hospitality rewards program, available to all guests of MGM Resorts, provides members…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The latest Consumer Financial Protection Bureau (CFPB) monthly consumer complaint snapshot finds credit reporting complaints lead the pack, but bank credit card issuers land second place. However, overall credit card complaints declined 2%. By average monthly complaint volume, Equifax (1,014), Experian (911), (765) were the most-complained-about companies for December 2015. Capital…
