Azimo has snagged $15 million of new investment, led by the Japanese e-commerce and fintech services company Rakuten. Azimo is the world’s largest digital money transfer network. Currently, over three quarters of Asian transactions are conducted offline through banks or money transfer operators (MTO), and as a result, the cost for senders is very high:…
It has become evident the reliance on usernames and passwords is susceptible to a wide range of attacks and they need for simpler and stronger authentication is urgent. A new Smart Card Alliance white paper, “Smart Card Technology and the FIDO Protocols,” says organizations implementing FIDO authentication standards should consider using smart card technology to…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.K. consumer credit continues to expand at a brisk pace, hovering around 10% year-on-year YOY. In March total consumer credit grew at a 9.7% annual rate, seasonally adjusted (SA) to £182.4 billion. The three-month annualized and twelve-month growth rates were 11.6% and 9.7% respectively. The Bank of England (BOE) reports consumer…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] While not exploding, Discover’s (DFS) credit card portfolio continues to stay in positive territory. Year-on-year (YOY) growth in the first quarter (1Q/16) was limited to single digits, but charge-offs (CO) headed higher due to the historical seasonal impact of a first quarter. Discover’s total revenue rose 2.4% YOY to $2224 million,…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] AmEx reported 1Q/16 gross revenue for its U.S. card business (USCS) rose 3.0% YOY to $3280 million, while net income increased 5.0% YOY to $694 million. Gross revenue for the AmEx international card business (ICNS) declined slightly (-1.0%) YOY, or +8.0% currency adjusted (FX), to $1313 million and net income slipped…
While Southwest Airlines Rapid Rewards has been named frequent flyer Program of the Year, in the credit card category, American Express was a big winner by issuing two of the three winners: the Starwood Preferred Guest Card from American Express and the Flying Blue American Express Card. The 2016 Freddie Awards also named the ADIB…
To beef up its existing technology to help speed EMV transactions and shoppers through checkout lines, MasterCard has unveiled M/Chip Fast. Developed on the principles of contactless or ‘tap-and-go’ technology, M/Chip Fast effectively prioritizes the parts of transactions that are critical to security. MasterCard says cardholders can expect to experience speeds closer to the familiar…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] UnionPay International and Industrial and Commercial Bank of China US (ICBC US) have issued the first UnionPay credit card in New York. It’s both the first UnionPay credit card issued in the US market and the first credit card issued by a Chinese commercial bank in the US. UnionPay and ICBC…
Major League Baseball has re-inked its longstanding partnership agreement with MasterCard. The first Priceless ad spot in 1997 featuring a father and son at the ballpark aired during the World Series. ARTICLE: Major League Baseball has re-inked its longstanding partnership agreement with MasterCard. The first Priceless ad spot in 1997 featuring a father and son…
Worldpay unveiled a unique offering for the UK payments industry that will provide a greater range of payment pricing options, meaning SMEs can find the perfect payment plan to fit their business. Taking inspiration from the mobile telephony industry, the UK’s number one payment provider has added ‘Pay As You Go’ and ‘Fixed Monthly’ card…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] International cash transactions (CTX) for Visa and MasterCard credit and debit cards grew by 8.2% year-on-year (YOY) in the fourth quarter (4Q/15). International CTX for credit cards decreased 4.6% YOY while international CTX for debit cards rose 9.2% YOY in 4Q/15. In the fourth quarter gross international payment card cash transactions…
In Other News: TNS (Bluefin); MONERIS (talech); I3 (acquisitions); and NFG (EMV). TNS – Transaction Network Services is partnering with Bluefin Payment Systems to provide Bluefin’s Decryptx PCI-validated Point-to-Point Encryption (P2PE) solution within its Managed POS Encryption suite. MONERIS – Moneris Solutions and talech have formed a strategic partnership and referral agreement. As part of…
