Big 6 U.S. Q1 Active Accounts Rise 7% YOY Despite Rising Attrition & New GAC Churn

U.S. bank credit card active accounts (AAC) (accounts with sales activity), among the top six U.S. issuers, increased 7.0% year-on-year (YOY) in the first quarter (1Q/17), according to CardData. There were 169.2 million active bank credit card accounts for 1Q/17 in the U.S. among the top six issuers: Citibank; Capital One; Chase, Bank of America,…

Q1 U.S. GDV Marketshare: Visa +240 bps AXP -150 bps YOY

The nation’s four major payment card networks produced $1485 billion in U.S. gross dollar volume (GDV) in the first quarter (1Q/17) for a 6.0% year-on-year (YOY) gain. Visa continues to rule the market, growing its U.S. GDV marketshare from 58.7% in 1Q/16 to 61.1% in 1Q/17, largely at the expense of American Express, according to…

SMS Hijack Attacks Raising Concerns Sending One-Time SMS Passcodes

The National Institute of Standards and Technology (NIST)’s recommendation to deprecate SMS one-time passcodes as a second factor of authentication takes a big leap forward with the help of Payfone. Payfone’s Instant Authentication for Mobile solution thwarts SMS Hijack and SMS-forwarding attacks. The company’s proprietary technology prevents these types of attacks by replacing easy-to-intercept OTPs…

CanPay Debit Enters Oregon to Capture Cannabis Dispensary Payments

The first legitimate debit payment solution for the cannabis industry is set to capture dispensary owners, customers, and patients in Oregon’s recreational and medical cannabis marketplaces. CO-based CanPay dispensaries in the state are now able to offer a secure, legitimate, and transparent alternative to the current cash-only system for both in-store and delivery purchases. Initially,…

V + MA International Q1 GTX +12% YOY Discounting V EU

International gross transactions (GTX) for Visa and Mastercard credit and debit cards grew an adjusted 11.8% year-on-year (YOY) in the first quarter (1Q/17). International unadjusted GTX for credit cards increased 22.5% YOY while international unadjusted GTX for debit cards soared an unadjusted 62.4% YOY in 1Q/17, according to CardData. The data are skewed by the…

Unbankable Cannabis Industry Looks to Bitcoins & Hydroponics for Growth

The ongoing roadblock for legal marijuana enterprises has been a lack of banking options, which forces these businesses to conduct cash transactions. Therefore, the cannabis industry has identified bitcoin digital currency as an ideal solution to the numerous challenges of the ‘unbankable’ marijuana industry and is creating a proprietary bitcoin payment solution that can be…

Mastercard Gots the Goods w/Slew of New Payment APIs – Tool Box Now 40+

Mastercard has added API’s for Masterpass QR, Qkr! With Masterpass and chatbot solutions to its ever growing developer tool box to arm banks, retailers and digital providers with what they need to enable payments on new platforms. There are now more than 40 APIs focused on payments, data services and security available to developers. Mastercard…