Start-up PaySwag, the first white-labeled mobile app to bring a new approach to collections for underbanked consumers, businesses and governments, is making its pitch at Money20/20’s Las Vegas inaugural StartupPitch180 competition.
MA-based Virtusa has released vToken, a solution accelerator. The solution was developed for enterprises, issuing banks and issuer processors that are considering providing Token Service Provider (TSP) functionality and building in-house EMVCo based tokenization system.
In today’s CardFlash News Que: PAYITSIMPLE (Splitit); TIMETRIC (Germany); GOODE (Biometrics); and NXT-ID (Fatone).
American Express (AmEx) third quarter profits slipped year-on-year (YOY) by 10.7% to $794 million. AmEx says revenue and billed business levels were suppressed by a stronger U.S. dollar, plus renewals and changes it made earlier this year to some co-brand relationships also entailed some significant incremental expenses in Q3.
Capital One (COF) is beta testing a super cool app enabling cardholders to set a personalized spend cap to manage what they borrow on their card. Capital One Inform also tracks and visualizes what the cardholder spent.
Verifone Engage has become the next generation family of payment devices that globally redefines what’s expected of point-of-sale (POS) hardware and software. Verifone Engage is the company’s first-ever, fully-integrated, Linux-based product family, encompassing a complete range of payment solutions for merchants, acquirers, and service providers.
NCR Power Picking has hit the market,a new store-based order fulfillment software that expands the omni-commerce portfolio of solutions and enhances the “order online, pick up in store” or “click-and-collect” experience.
FL-based MagicPay Merchant Services has launched a multiple currency credit card processing service. Prices for MagicPay’s new service begin at less than $20 per month plus discount rates and transaction fees, allowing even businesses that do a small volume of transactions to afford to process credit cards for foreign customers.
Elan Financial Services launches a new credit card partnership with People’s United Bank. The deal provides a full suite of MasterCard-branded products with valuable reward options to the bank’s customers as well as access to enhanced payment technologies, such as digital wallets and real-time activity alerts.
Discover’s credit card outstandings continued strong in the third quarter rising 3.7% as Purchase Dollar Volume (PDV) rose 2.7%, year-on-year (YOY). While all other credit card metrics remained stable, overall net income for Q3/15 declined 5.0% YOY to $612 million.
Purchase Dollar Volume (PDV) for Visa, MasterCard, Discover and American Express U.S. debit cards is expected to reach $2.67 trillion annually by year-end 2019. According to forecaster RAM Research, the U.S. PDV for the U.S. debit card industry is currently growing at a CAGR of 7.70%.
Severely delayed debts sold-off to debt collection agencies will have minimal impact on consumer scores and will not impact the predictiveness of VantageScore 3.0 credit scores.