The four major global payment card networks (excluding Visa Europe, CUP and JCB) produced a 3.0% year-on-year (Y/Y) gain in Cash Dollar Volume (CDV) during the first quarter of 2014 (Q1/14). Visa (VS), MasterCard (MC), American Express (AX) and Discover (DS) produced $963 billion in global CDV, compared to $935 billion in the year ago quarter.
FIS the world’s largest provider of banking and payments technology, its NYCE® Payments Network and MasterCard today announced a licensing agreement that will make MasterCard’s EMV debit solution available to all NYCE participants. EMV chip card adoption is a common goal of the U.S. payments industry, designed to increase card transaction security and decrease card-based fraud. This agreement provides all NYCE Network participants with an EMV license with respect to MasterCard products and continues the advancement toward a secure payment environment.
Monitise made a series of updates to its executive leadership team and Board of Directors.Former Visa Inc. payments executive Elizabeth Buse has been appointed co-Chief Executive of Monitise Group, effective immediately. Elizabeth also joins the Company’s Board of Directors.Elizabeth, an American national who was a member of the Monitise Board from July 2010 to October 2012, will head Monitise’s day-to-day operations, overseeing technology, product, sales and marketing while Alastair focuses on key relationships with partners and industry stakeholders, corporate development and major shareholders. Strategy will continue to be set by the executive leadership team in conjunction with the Board. Monitise’s growing ecosystem of partners and clients includes more than 350 banks, payment services companies such as Visa Inc., Visa Europe and MasterCard as well as Vocalink, FIS and IBM. In the mobile space, Monitise’s customers include Telefónica, Samsung, PCCW Mobile, Turkcell and BlackBerry. In the retail ecosystem they include brands such as Blackhawk Network Holdings with its network of more than 500 content providers operating in the US and 18 other countries, eBay, Turkey’s Bilyoner and Biletix, Venda, B&Q, Carphone Warehouse and Premier Inn. Elizabeth’s appointment comes after she stepped down from her role running international operations at Visa Inc. in March 2014 as Executive Vice President of Solutions. She joined Visa Inc. in 1998 and during her time there held roles including Group President of Asia Pacific, Central Europe, Middle East and Africa, Global Head of Product, Executive Vice President of Product Development and Management and Executive Vice President of Emerging Markets & Technologies.
The four major global payment card networks: Visa (VS), MasterCard (MC), American Express (AX) and Discover (DS), (excluding Visa Europe, CUP and JCB), were flat year-on-year (Y/Y) in Spending Per Card (SPC) during the first quarter of 2014 (Q1/14), according to CardData.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa announced a new designation for consumer reloadable prepaid products in the US, aimed at simplifying fees, improving consumer protections and creating opportunities for cardholders to improve their financial health. The designation was developed in conjunction with industry thought leaders the Center for Financial Services Innovation (CFSI) and The Pew Charitable…
Sam’s Club today announced a credit card cash back program that gives members the opportunity to earn 5 percent cash back on fuel, 3 percent cash back on dining and travel, and 1 percent cash back on all other purchases, up to $5,000 annually. The new Sam’s Club MasterCard comes with enhanced credit card safety, a top concern for today’s shoppers. Sam’s Club is the first mass retailer to actively implement chip-enabled technology. Each credit card has an embedded chip that makes the card more difficult to duplicate, which provides enhanced security from fraudulent activity.
Citi, American Airlines and MasterCard partnered to deliver a special performance by Grammy and Emmy Award-winner Justin Timberlake for their cardmembers. Timberlake will bring cardmembers a truly priceless experience through the Citi® / AAdvantage® & MasterCard Priceless Access with a Justin Timberlake™ performance that is reflective of the exclusivity, benefits and access cardmembers are provided. Cardmembers also have an opportunity to enter a social sweepstakes by using #PricelessAccess for a chance to win a flyaway package to attend the NYC show. Click here for the rules and how to enter. In addition, beginning today, Citi® / AAdvantage® members can visit www.aadvantageauction.com to bid on a flyaway package to the event using miles. The Citi® / AAdvantage® MasterCard also provides cardmembers special access to over 10,000 events annually through Citi Private Pass.
Ingo Money announced the addition of Dickson Chu as executive vice president, Corporate Development and chief product officer. In this role, he will lead the company’s strategic corporate development efforts and oversee the evolution and development of Ingo Money’s product roadmap and user experience. Chu brings over 25 years of leadership experience in financial services technology, digital payments and marketplace innovation. An accomplished general manager and innovator, Chu most recently served as investor and active advisor to a number of emerging companies. Previously, Chu served as senior vice president, Merchant Solutions at LivingSocial, evolving the company’s strategy to create a new merchant-focused business line. He also spent nearly two years at Citi as managing director, Digital Networks in the Global Enterprise Payments business unit, where he was responsible for the development of global e-commerce and m-commerce capabilities, as well as the development and launch of Citi’s Google Wallet platform. Before joining Citi, Chu spent six years at PayPal, most recently serving as vice president and head of Global Products and Experience. In this role he led product strategy, development and user experience design for millions of consumers and merchant customers, having previously served as global general manager for PayPal’s Global Merchant Services business, which he helped grow from $60 million to more than $1 billion.
On Track Innovations NFC and cashless payment solutions introduced its standards-certified Trio modular reader three-in-one payment solution. oti’s Trio, an innovative modular reader for the cashless payment industry, provides multiple payment options in unattended market segments, such as vending machines, self-service laundromats and car washes. The reader works with magnetic stripe cards, contactless payment solutions and secure credit/debit/prepaid cards with built-in EMV smart chip compatibility. The multiple payment solution evolved from oti’s field-proven Saturn 6500, a panel mount reader designed for indoor and outdoor installations. The oti Trio is an innovative, cost effective reader that can be purchased and installed using a modular approach, allowing self-service operators a variety of configuration options. Each target market for the Trio currently has millions of legacy coin-operated machines that eventually will be upgraded to solutions that allow for cashless payment solutions.
PrestaShop has expanded its partnership with Authorize.Net, a premier payment provider to over 400,000 small to medium sized merchants globally. This collaboration now allows PrestaShop merchants with an Authorize.Net account to process payments in multiple currencies. With Authorize.Net’s ability to process multiple currencies, PrestaShop merchants with operations in the United Kingdom, Australia, New Zealand, United States, Canada and across Europe can accept payments in local currencies. By providing its merchants with the ability to process transactions in their local currency, PrestaShop offers more choices for securely accepting payments in these new markets.
ChannelAdvisor cloud-based e-commerce solutions announced CEO Scot Wingo will host the Amazon & Me Workshop at the 2014 Internet Retailer Conference & Exhibition (IRCE). The daylong workshop will cover best practices for selling on Amazon and strategies that online retailers can use to improve their performance on the marketplace. The Amazon & Me Workshop will consist of eight sessions presented mainly by analysts and retailers. In addition to hosting the entire workshop, Wingo will present the welcome and introduction at and participate in the Q&A session at 3:30 p.m. CDT. Furthermore, Gina DeFrank, ChannelAdvisor product manager for marketplaces, will present “Writing for Amazon: Make It Clear and Concise” at the workshop at 10:15 a.m. CDT. DeFrank will provide strategies for writing titles and product descriptions to compete on Amazon and meet the marketplace’s standards.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Average credit card APRs are down .1% from the May figure to 15.0% after averaging a meager .04% change over the past year. This continues the downward momentum seen throughout the early months of 2014. This also follows a relatively lengthy period of APR stagnation since the holiday months. Typically, card…