In today’s CardFlash News Que: FROST & SULLIVAN (digital); NEXONIA (webinar); and YAPITAL (Deutscher Sportausweis).
The FOMC’s stunning decision today not to raise rates will be very confusing to card issuers and the stock market. However, credit card issuers are preparing for the certain rate adjustments by year’s end.
Stratos and its Bluetooth Connected Card Platform announced Eastern Bank will be piloting Stratos’s new partner program that includes bank issuer, merchant & loyalty issuer, promotional and distribution opportunities.
First Data launching Android Pay collaborator supporting the new service for in-store transactions. First Data will provide processing solutions for Android Pay that ensure a safe, secure transaction at the point of sale, enabling payment with a single, contactless tap.
WePay has introduced ACH bank transfers as another payment type that platforms can offer their customers. The launch means platforms can now allow US users the ability to accept simple yet highly secure ACH bank transfers in addition to credit card payments.
Doxo announced the National Grid has made available to its customers the doxo application to enhance the company’s customer engagement and experience by offering a paperless account and billing option. Through doxo, National Grid’s electricity and gas customers, across New York, Massachusetts, and Rhode Island, can now receive their bills and other account documents, organize account information, and make payments directly from their free doxo account.
MN-based Digital River has inked a payments agreement with one-stop travel service provider Ctrip. One of China’s leading travel agents, Ctrip is using the Digital River World Payments solution to process credit cards, including Visa, Mastercard and UnionPay on its Singapore site.
In today’s CardFlash News Que: AMEX (unstaged); SIMPLYCREDIT (funding); IPATIENTCARE (NUCON); and MASTERCARD (COMO).
In today’s CardFlash News Que: SYNCHRONY (Board); ACI (rankings); INGENICO (TrustCommerce); and OINK (Android).
Purchase dollar volume (PDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) in the U.S. remains likely to top $1.2 trillion for the third quarter, predicts RAM Research. According to CardData, in the second quarter PDV climbed 7.6% year-on-year (YOY) in Q2/15 reaching a record $1205 billion.
The average U.S. 90+ day delinquency rate among the nation’s four largest issuers is expected to rise 3 basis points (bps) in the third quarter. In the second quarter 90+ delinquency declined 9 basis points (bps) sequentially, to a record low of 0.92% for the second quarter, compared to 1.01% in the prior quarter and 1.00% one-year ago.
A new survey shows lower income respondents were more likely to lack knowledge of EMV cards than those in higher income brackets. Nearly 60% of consumers with an income of $25,000-$49,999 were unaware of EMV cards. However, only 26% of the highest income cohort ($150,000+) lacked knowledge of EMV credit cards.