Apple Pay
Move over plastic credit and debit cards Apple will be bulldozing its way through the mobile payments market with Apple Pay. The new enhancement works with the new iPhone 6, iPhone 6 Plus and the new Apple Watch.
Home Depot Breach
The world’s largest home improvement retailer acknowledged yesterday its payment data systems have been breached. The Home Depot says it will accelerate the roll out of EMV “Chip and PIN” cards.
Smart Wallet Cybertheft
Visa and MasterCard are both adopting “tokenization” which replaces cardholder information such as account numbers and expiration dates with a unique series of numbers that validates the customer’s identity.
Citi Apple Pay
Citi cardmembers will have another way to pay with their Citi card at their fingertips with Apple Pay. Citi cardmembers will have the option to pay with their eligible Citi credit or debit card using their iPhone 6 and iPhone 6 Plus. Whether they are buying in stores or online from merchants in apps, payment happens in a single touch and Citi cardmembers will soon have another option to make purchases easily. In October, Citi will be introducing to U.S. credit and debit cardmembers the ability to add their eligible Citi card to Apple Pay, which will transform mobile payments, creating an easy way to make purchases.
FDC & Profit Insight
First Data and PROFIT INSIGHT announced a revenue assurance and enhancement collaboration that can help banks generate as much as $5 to $10 per active account annually in incremental revenue. First Data and PROFIT INSIGHT together developed the revenue assurance system to deliver greater returns to First Data payment platform clients. The solution combines the proven stability, scalability and flexibility of First Data’s solutions such as the flagship VisionPLUS software with the insight and experience of PROFIT INSIGHT financial consultants, to create platform-specific solutions that are easy to implement and quickly align with clients’ requirements. As payments experts, First Data and PROFIT INSIGHT have a deep understanding of the processes and systems that drive banking profitability.
Canuck M-Payments
Canada Mobile Payments is here. The company has developed unique intellectual property within the mobile payments ecosystem to assist all businesses. The company has built a plethora of mobile payments processes & digital currency transfer opportunities enabling customers to use smartphones & wearable devices to their advantage.
Loss Provisions
Provisions for credit card losses among the top U.S. bank credit card issuers declined among most, ranging from 0% to -48%. The issuer with the largest provisions for credit losses is Discover and the smallest provisions for credit card losses is American Express, according to CardData.
Oink
CA-based Virtual Piggy is beefing up payment fraud protection for its Oink payment technology. Oink is the first e-commerce solution that enables kids and teens to manage and spend money within parental controls.
Cardless Millennials
More Americans are relying less on credit cards since the Great Recession. A new report finds millennials in particular may have a greater aversion to debt, especially credit cards, since they grew up witnessing its effects on the economy.
Webster Bonus Rewards Visa
CardWeb’s CardPixes database of more than 7,000 card images today features the Webster Bank Visa Signature Bonus Rewards card. The card is issued by Elan Financial Services.
Nancy Murphy
CardWeb’s CardExecs database today features Nancy Murphy, SVP of Investor Relations at FIS. FIS is the world’s largest provider of banking and payments technology solutions.
PayPort Idaho
Idaho’s PayPort payment service for utilities, state agencies and counties is expanding in the Gem State. Six more cities have jumped on the PayPort bandwagon.