On average, it takes between seven to 10 seconds to pay using a chip card versus two to three seconds to pay using a traditional swipe credit card in the U.S. At some Walmarts unless you have a PIN for the chip card it will not prompt for you for SIG credit.
In today’s CardFlash News Que: VECTOR (Sequent); AOC (3Delta); VODAFONE (Wallet) and UNIONPAY (Hong Kong).
U.S. bank credit card active accounts (accounts with sales activity), among the top six U.S. issuers, notched up 1.5% year-on-year (YOY) in the third quarter.
More than 90 million attempted cyber attacks across industries were launched in the third quarter, representing a 20% increase over the previous quarter. Fraudsters are now using bots and botnets to run massive identity testing sessions in order to penetrate fraud defenses.
USA Technologies (USAT) reported total third quarter revenue of $16.6 million, a year-over-year increase of 35%. During the quarter USAT plugged in 349,000 connections to ePort service, a year-over-year increase of 26%.
MasterCard has shuffled four top executives to evolve the company’s “Global Products and Solutions” and “Operations and Technology” business units, effective January 1st.
China’s UnionPay has become the only international bankcard association offering Chinese Visa application VIP express service. UnionPay cardholders can apply at the Chinese Visa Application Service Centers in five cities in Australia, namely Sidney, Melbourne, Canberra, Brisbane and Perth. This service will substantially shorten the processing time, and will soon be rolled out in some of the other countries where UnionPay cards have been issued.
San Francisco-based Revel Systems announced Lisa Falzone, co-founder and CEO of Revel, has been chosen by EY as one of the 12 entrepreneurs selected for the 2015 North American Entrepreneurial Winning Women program.
In today’s CardFlash News Que: EPVAR (APS); CHASE (UAL); DADEPAY (Nature’s); and TANGO (DRE).
In today’s CardFlash News Que: B2 (Chase); JCB (Malaysia); FIT PAY (wearables); and WIRECASH (Cuallix).
The average late stage U.S. credit card delinquency (90+ day) among the nation’s six largest issuers increased five basis points (bps) sequentially, to 0.85% for the third quarter, compared to 0.80% in the prior quarter and 0.88% one-year ago. However, all the issuers, except Capital One, were down year-on-year (YOY), according to CardData.
CO-based CPI Card Group reported net sales were $107.7 million, an increase of 39.2% over the prior year period. The company attributed most of the increase to the U.S. EMV migration.