UnionPay International announced its cooperation with Bangkok Bank in issuing the first local UnionPay-TPN card. This is also Thailand’s the first domestic brand debit card. This February, Thailand’s local switching system Thai Payment Network (TPN), which was joint-ventured and constructed by UnionPay International and 4 local mainstream banks (including Bangkok Bank) in accordance with UnionPay’s…
Ecobank, a top pan-African banking group, has deployed the latest version of the TSYS PRIME payments solution platform, PRIME 4, to support its acquirer processing of MasterCard, Visa and UnionPay International point-of-sale (POS) transactions across 28 countries in Middle Africa. Ecobank has a major presence in Africa with more than 1,100 branches servicing over 10…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Basel Committee’s (BCBS) proposal to apply higher capital charges for “unconditionally cancelable lines of credit” (UCCs) could impact internationally active US credit card banks CET1 ratios on average by 375 basis points, absent any remedial measures from affected institutions. Fitch Ratings says, if implemented by the US authorities, the measures…
The new Chip Shield Reader fits in the palm of your hand and connects to desktop computers over USB and mobile devices over the audio connector. The device works with any credit or debit chip card, and with the Chip Shield Web Assistant, it can provide enhanced security for any online shopping or banking site…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] After trailing off over the past four quarters Visa’s Central Europe – Middle East – Africa (CEMEA) region rebounded nicely in the first quarter (1Q/16). Purchase dollar volume (PDV) and purchase transactions (PTX) both soared well into double-digits year-on-year (YOY). The number of gross accounts (GAC) and cards-in-force (CIF) remained stable…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Dallas-based Alliance Data Systems (ADS) reported a first quarter (1Q/16) year-on-year (YOY) surge in credit card outstandings, purchase dollar volume (PDV) and Card Services revenue. Overall revenue and income were pressured by currency exchange rates (FX). ADS reported gross revenue rose 4.7% YOY in 1Q/16 to $1676 million, compared to $1749…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] While the stress in the U.S. energy sector should not materially impact the credit profiles of large consumer lenders with national footprints, Canada is a different story. Visa and MasterCard data reveal there was a downturn in credit card spending in the first quarter. Fitch Ratings says it expects the cost…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] New research also reveals debit cards with the Visa brand continued to account for the most purchase transactions with a share of 35.50%, followed by Visa credit cards with 20.02%, and MasterCard credit cards with 13.14%. According to The Nilson Report, MasterCard debit cards posted a 13.13% share, UnionPay credit cards…
Only 4% of people in India have access to credit cards, so Fortumo’s mobile payment platform is rapidly expanding its direct carrier billing in the country. The expansion is possible under an agreement inked with mobile operator Reliance Communications (RCOM). With this development, all customers of RCOM will be able to make purchases for digital content and games…
In Other News: BANKRATE (acquisition); TIMETRIC (report); BLUEPOINT (client); and EATSTREET (app). BANKRATE – Bankrate has reached an agreement to acquire the business of NextAdvisor, an online source of independent and in-depth research and reviews of credit cards, personal finance and internet services. TIMETRIC – Timetric’s ‘The Cards and Payments Industry in Nigeria: Emerging Trends…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Wall Street ratings firms says stress in the U.S. energy sector should not materially impact the credit profiles of large consumer lenders with national footprints, says Fitch Ratings. Furthermore, the credit outlook for U.S. ABCP (Asset-Backed Commercial Paper) for the remainder of 2016 remains stable. Fitch Ratings says the recent evidence…
To the chagrin of U.S. credit card issuers, the Consumer Financial Protection Bureau (CFPB) has proposed rules prohibiting mandatory arbitration clauses. The CFPB says these widely used clauses leave consumers with no choice but to seek relief on their own – usually over small amounts. Through the Dodd-Frank Wall Street Reform and Consumer Protection Act,…
