Total spending on general purpose credit cards will likely approach $3.0 trillion in 2015 and may top $4.0 trillion by 2019, according to CardData. Next year will be a major transitional period as the U.S. goes EMV and global NFC takes shape.
Fidelity credit cardholders directing their cash rewards into a Fidelity account will average $1,476 in cash rewards in 2014. If they earn a similar sum each year and direct the cash towards a 529 college savings account every year for 18 years, the total rewards accumulated could exceed $26,000, without even factoring in potential compound annual growth.
Staples says the breach that occurred this past summer affected 1.16 million credit and debit cards. Staples’ data security experts detected that criminals deployed malware to some point-of-sale systems at 115 of its more than 1,400 U.S. retail stores.
AZ-based 5th Dimension Logistics has added the Card Account Updater feature to its 5th Dimension Payment Gateway. The Account Updater enables merchants to automatically retrieve updated credit card information when consumer’s cards expire while subscribed to a recurring billing plan.