Velocity Mobile has acquired Tab Payments, a mobile payments app for tastemaker diners in Canada accepted at over 100 restaurants in Toronto and Montreal. The acquisition further expands Velocity’s reach, which now connects premier restaurants with global diners in six major cities in the US, UK, and Canada.
Merchant Customer Exchange (MCX) will add Buy It Mobility Networks Inc.’s (BIM) guaranteed, ACH payment tender to CurrentC. The CurrentC app is currently in its first phase of implementation in several retail locations, and will debut nationwide in 2016.
In today’s CardFlash News Que: GEMALTO (award); TIMETRIC (Argentina); CREDITCARDS.COM (retail cards); and TIMETRIC (South Korea).
Citibank North America branded credit card profits declined 16% and Citi retai North America branded card base shrank 1.0% YOY in Q2/15. However, credit quality improved as delinquency and charge-offs declined.
U.S. Bank (USB), one of the nation’s largest commercial card issuers, posted a paltry 0.6% gain in year-on-year (YOY) outstandings and a weak 3.2% gain in consumer and commercial purchase dollar volume (PDV) for the third quarter.
New stunning research shows the average estimated price for stolen credit and debit cards: $5 to $30 in the United States; $20 to $35 in the United Kingdom; $20 to $40 in Canada; $21 to $40 in Australia; and $25 to $45 in the European Union. Also, bank login credentials for a $2,200 balance bank account selling for $190.
Merchant Customer Exchange (MCX) reports the company’s mobile payment platform, CurrentC, is now available for use at participating Kmart, Sam’s Club, Sears and Walmart locations around Columbus, Ohio, as part of an expanding beta in that city.
Dallas-based GIACT Systems, provider of real-time data for payment risk analysis, has hired Jeff Givens as executive vice president of sales. The longtime technology industry veteran will lead GIACT’s sales organization as well as develop strategic partnerships and channel sales.
A new report suggests the U.S. commercial credit card market continues to demonstrate positive growth despite recent corporate economic challenges and increased levels of investment in corporate payable solutions.
PA-based FreedomPay’s Commerce Platform has been approved as a payment gateway for EMV on First Data. FreedomPay’s EMV certification combined with P2PE enables merchants to adopt advanced payment security at the point of sale.
Frankfurt-base Software AG (SAG) has inked NJ-based PayCommerce to use SAG’s Digital Business Platform to expand its world-class cross-border payments network. The global payments pro faster and more secure payment solutions: business-to-business (B2B), business-to-consumer (B2C), consumer-to-business (C2B) and global disbursements and collections.
In today’s CardFlash News Que: SYNCHRONY (FRB); PIVOTAL (Breeders); CSI (IOFM); and TECHNAVIO (india).