Los Angeles-based Allied Wallet, with 120 million users in 196 countries, has been awarded by LA Business Journal as one of the ‘Top 100 Fastest Growing Private Companies’ in Los Angeles, CA.
A new report suggests late stage delinquency metrics may be signaling a possible inflection point in credit loss performance. Credit loss metrics will begin to weaken throughout 2015 as more recent vintages begin to season.
Payments volume for Diners Club International rose 3% year-on-year and flat sequentially in the third quarter. Gross Dollar Volume posted at $6.78 billion in Q3/14, compared to $6.73 billion in the prior quarter and $6.55 billion one-year ago.
Atlanta-based InComm reports PayPal will utilize the InComm Digital Solutions platform to support PayPal’s digital gifts services. IDS will enable PayPal to expand the number of retailers’ gift cards that it sells real-time on the PayPal digital gifts and on eBay.
USA Technologies (USAT) reported a 31.4% increase in transaction volume for the third quarter, up 31.4% over one-year ago. Total revenue of $12.3 million, represented a year-over-year increase of 21.0%.
Consumer Reports has named the Bluebird card (by American Express and Walmart) as the “Best” prepaid card, followed by the Chase Liquid (Visa).
San Francisco-based Boku has officially named mopay co-founders Ingo Lippert and Christian Hinrichs as the company’s new Chief Business Officer and Chief Financial Officer, respectively. Boku recently acquired German-based mopay.
NAFCU Services Corporation announced MasterCard has become the newest Preferred Partner to join the program. The partnership was approved following a rigorous RFP process and voting by NAFCU’s three panels of credit union CEOs. Through this partnership, credit unions will have access to innovative credit, debit and prepaid solutions from MasterCard, as well as pertinent information on emerging payment technologies and advancements.
TSYS signed a new licensing agreement with FICO. The agreement will deliver a revolutionary, analytics-powered marketing product for card issuers called TSYS Targeted Messaging powered by FICO.
InComm integrated POS technology announced PayPal will utilize the InComm Digital Solutions (IDS) platform to support PayPal’s digital gifts services. IDS will enable PayPal to expand the number of leading retailers’ gift cards that it sells real-time on the PayPalDigital Gifts store and on the eBay marketplace. With this PayPal customers can now purchase digital gift cards from more of the leading brands, can quickly purchase and send digital gift cards either for gifting or self-use and can benefit from future mobile payment capabilities, driven by PayPal’s innovation and integration to the IDS platform.
Green Dot Corporation (GDOT) supports the CFPB’s newly released prepaid debit card Notice of Proposed Rulemaking (NPRM). Green Dot’s Founder testified yesterday at the CFPB field hearing on the topic and believes that its business will not be materially impacted by the CFPB’s newly proposed rules. Furthermore, Green Dot fully supports the proposed rules that mandate “Regulation E” consumer protections for lost or stolen funds and disputed transactions, including the providing of provisional credits to consumers, and the CFPB’s proposed rulemaking dealing with the new framework for overdraft programs attached to prepaid cards.
The mobile device and network security investments will account for nearly $11 Billion in 2014. The market is further expected to grow at a CAGR of nearly 20% over the next 6 years.