The majority of consumers (86%) purchased plastic gift cards in the last year. Nearly half of the consumers surveyed (43%) bought plastic gift cards solely for gift-giving.
In today’s CardFlash News Que: BUZZPOINTS (Mills); SHIFT4 (Darien); CASHSTAR (webinar); and TECHNAVIO (POS).
American consumers continue in a buying mode after ratcheting up revolving credit by $6.7 billion or 8.7% year-on-year (YOY) in September.
Total revolving credit for September posted at $925.2 billion, compared to $918.5 billion in August, and $914.5 billion in July.
Like the U.S. consumer U.K. spending is heating up +2.1% on an annual basis, up from a +1.9% rise in September, and the strongest annual rate of growth for three months. Spending also rose slightly on the quarterly and monthly spending measures in October.
PA-based Datacap Systems has completed US EMV level 3 certification with FL-based Sterling Payment Technologies and released an EMV-capable version of NETePay available for download immediately. NETePay for Sterling provides hundreds of point of sale providers with the ability to deliver US EMV functionality via an evolving list of PIN Pads through a simple out-of-scope interface.
In today’s CardFlash News Que: BANKRATE (gift cards); GEMALTO (report); CSI (award); and UPROMISE (survey).
Charge-offs among the nation’s top 6 issuers inched up 8 bps year-on-year (YOY) to 2.65% for the third quarter, but down 15 bps sequentially, according to CardData. Citibank has done the best job of reigning in card losses, dropping 44 bps, compared to 2Q/15.
Here it comes ” a short-term interest rate hike next month of 25 basis points for the first time since the first quarter of 2006. The prediction is based on today’s BLS report that payroll employment increased by 271,000 in October with the unemployment rate essentially unchanged at 5%.
Gross or open accounts (GAC) for U.S. credit cards among the nation’s four largest issuers climbed 2.0% in the third quarter to 188.0 million, compared to 184.4 million one-year ago. The growth is driven by Capital One, while Chase, Bank of America (BofA) and Citibank face year-on-year (YOY) and quarter-to-quarter (QOQ) GAC erosion.
NY-based ShopKeep, the cloud-based technology and business management solution for more than 20,000 small businesses, has ankled Michael DeSimone as the company’s new Chief Operating Officer.
MobileRecharge.com will launch the World Top Up Day on November 10 to celebrate, for the first time in history, top up senders worldwide. The organizers announce the best offer possible for November 10: NO FEES when making a top up to a mobile abroad on Mobilerecharge.com that day.
Bankrate reported third quarter revenue of $140.8 million but delivered a GAAP net loss of $23.4 million. The investment to redesign o CreditCards.com site, which went live in April, is bearing fruit as it has helped drive a record number of unique visitors to the site.