China’s UnionPay International cooperates with Development Bank of Singapore (DBS) in issuing the UnionPay platinum debit card. It is not only the first UnionPay card issued by the largest commercial bank in Singapore, but also the first UnionPay card with functions of UnionPay QuickPass, online payment and local transportation payment issued in the market. DBS,…
In Other News: ZEBIT (military); SPENDGO (Shoptalk); THREATMETRIX (Intel); and ETHOSPAY (chargebacks). ZEBIT – Zebit launched a new direct-to-consumer offering exclusively available to active and retired military personnel. Dedicated to improving the financial lives of those who serve, Zebit provides access to $1,000 interest-free credit for active and retired military members associated with the U.S.…
BlueSnap says MasterPass by MasterCard is now available in its Powered Buy Platform to give merchants the frictionless checkout experience they need to reach global shoppers and solve checkout abandonment with higher payment conversions. MasterPass by MasterCard is a global, digital commerce platform that connects consumers with merchants, enabling them to make fast, seamless and…
Gross dollar volume (GDV) for licensees of Discover-owned Diners Club International declined 2.8% year-on-year (YOY), on a nominal basis, in the first quarter (1Q/16). In the prior quarter GDV was down 2.5% YOY. Over the past five quarters Diners GDV ranged between $6.47 billion and $6.76 billion. After peaking at $7.2 billion in 4Q/12, the…
Bankrate reported gross revenue for the first quarter rose 4.8% YOY to $93.3 million, compared to $93.4 million in 4Q/15 and $89.0 million for 1Q/15. Adjusted net income for 1Q/16 declined 30.6% YOY to $10.9 million, compared to $13.8 million in the prior quarter and $15.7 million in the year ago quarter. Credit card revenue…
The American Express (AXP) International Consumer and Network Services (ICNS) unit posted nominal year-on-year (YOY) declines in revenue and income for the first quarter (1Q/16), but on a currency adjusted basis (FX), gross dollar volume (GDV) rose 100 basis points (bps), quarter-to-quarter (QTQ) and YOY, driven by international business card volume, but dampened by LACC…
Australian credit card outstandings edged up by 1.8% year-on-year (YOY) in March. Credit card credit limits increased 3.3% YOY and the number of credit card accounts rose 2.6% YOY. The average balance per account in March declined 1.8% YOY to AU$3155, compared to AU$3155 for February, and AU$3158 for January 2016. Credit card outstandings for March…
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…
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 will encourage US banks…
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…
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 in 1Q/16. Gross Dollar…