U.S. Credit Card Charge-Offs Head Higher

V+MA International Q1 PTX +15% YOY minus V Europe

International purchase transactions (PTX) for Visa and Mastercard credit and debit cards grew by 14.8% year-on-year (YOY) in the first quarter (1Q/17), excluding Visa Europe. Including Visa Europe, added starting 3Q/16, the YOY gain was 50.1%. International PTX, including Visa Europe, for credit cards increased 22.6% YOY while international PTX for debit cards rose 89.5%…

Reloadable Visa Virtual/Digital Account Handy U Combines All Things Payment

IATAI Enterprises (IATAI) and BPP have developed a universal and customizable payment, rewards and insurance solution for consumers, businesses and merchants. Handy U is a reloadable Visa virtual/digital account that enables IATAI’s travel and insurance clients to instantly make and receive payments, access benefits and redeem rewards generated by their loyalty programs. Handy U is…

Fintech Week Set to Rock ’n Roll All Over London Next Month

Conferences, exhibitions, workshops, hackathons, meet-ups and of course . . parties will dominate Fintech Week in London in mid-July. The main conference/exhibition takes place at the Grange Tower Bridge Hotel, but other events take place across the City of London, Canary Wharf and “Tech City.” The organizers of the fourth annual Fintech Week expect 600-1,000…

CFSI and Chase Names $3MM Annual Fintech Competition Winners

The Financial Solutions Lab at the Center for Financial Services Innovation (CFSI) with founding Lab partner Chase announced eight financial services innovators as the winners of its third competition, aimed at identifying solutions that can help Americans improve their financial health. Each winner will receive $250,000 in capital and additional resources to test, enhance and…

New Solution Detects Compromised POS, CNP & ATM Cards Faster Than Ever

FICO has unleashed FICO® Card Compromise Manager, an anti-fraud solution that proactively detects and prioritizes compromised merchants and data breaches involving card data. A powerful companion to FICO® Falcon® Platform, Card Compromise Manager is capable of detecting card present, card not present and ATM fraud. It uses advanced analytics to provide a ranked list of…

Android Pay + WorldRemit = C2B Payments w/No CC, 3DS, 3G, Wifi or Agents

Digital money transfer service WorldRemit has added Android Pay to its service, offering a new way for WorldRemit’s Android Pay users to send money internationally and reach millions using mobile money accounts. Pioneering a mobile-first approach to the $600 illion a year remittance industry, the move sees WorldRemit bringing together the leading players in mobile…

JCB Card SEPA Acceptance Expansion Fueled by CardPay

Pan-European CardPay has inked a direct License Agreement to acquire JCB’s e-commerce card transactions across the SEPA region. With this agreement in place, JCB and CardPay will develop connectivity during Q3’17 and target to go live during Q4’17. JCBI’s acquiring strategy is to aggressively increase its acceptance footprint across the SEPA region by expanding its…

Zelle P2P Payments Ready to Explode in Q3 – w/30+ Banks & 5+ Processors

More than 86-million U.S. mobile banking consumers will be able to send and receive money through Zelle – a new person-to-person (P2P) payments network from bank-owned Early Warning Services. Zelle allows for funds to be sent from one bank account to another in minutes, using only a recipient’s email address or mobile number. “Send Money…

V+MA+AXP+DFS Q1 U.S. Credit+Debit PDV Up 6.5% YOY

Purchase dollar volume (PDV) for the Major 4 networks (Visa, Mastercard, American Express and Discover) cards (credit + debit) in the U.S. climbed 6.5% year-on-year (YOY) in 1Q/17 hitting $1288 billion. Visa led the way in the first quarter posting nearly a 12% YOY gain for U.S. PDV. The Major 4 collectively posted $1288 billion…

V+MA Q1 International Credit+Debit GDV +19% YOY NFX

Visa and Mastercard international credit card gross dollar volume (GDV) for the first quarter (1Q/17) rose 18.6%, on a non-currency adjusted basis (NFX), year-on-year (YOY). For international debit cards, Visa and Mastercard GDV increased 48.2% YOY NFX, according to CardData. Excluding Visa Europe, Visa and Mastercard international payment card (credit+debit) GDV for the first quarter…

Gemalto Supplies Payments Cards w/Digital PIN Solution for C-zam to Carrefour

Gemalto is supplying Carrefour’s Market Pay with payment cards and a Digital PIN solution for C-zam. This new ‘boxed’ account is available on the shelves of over 3,000 Carrefour French retail stores since 18 April. Once the account has been opened, the card’s PIN code is delivered safely and swiftly via mobile app or website…