Comdata Acquires eFueling Technologies

Comdata Inc. has acquired eFueling Technologies, a wholly-owned subsidiary of Woodfin Oil Company. This acquisition allows Comdata to expand its product offerings in the unattended fueling market by combining eFueling’s and Comdata’s product knowledge and industry experience. Comdata and eFueling partnered to develop a robust, web-based site controller system marketed as SmartSight. Launched in 2013, this system provides fuel merchants with real-time insight into transaction data and activity at unattended fueling sites.

Starbucks Expands Starbucks Cards in New Market

Starbucks Coffee Company introduced Starbucks Gift Cards at select locations in China for purchase in three unique design themes, including Thank You, Kind Regards and Happy Lunar New Year. Since the Starbucks Card launched 12 years ago, $16 billion has been loaded on more than 450 million cards in 27 countries worldwide (as of Sept. 30, 2013). Timed to the launch of the Starbucks Gift Card in China, Starbucks is also offering a Lunar New Year Gift Card in participating Starbucks stores in the U.S. The Card celebrates the joyfulness and self-reliance of the horse, this year’s honored animal of the Lunar New Year.

2013 Card Industry Revenue – Another Downtick

During the past five years CU and Bank card issuers have dealt with new regulations which curtailed their business models, impacting their interest and fee income strategies. Partly as a result, the 2013 top line revenue for the card industry in the R.K. Hammer card issuer model was reported at $145.5 Billion, down again, $4.1 Billion from the previous year. Indeed, some credit unions and banks showed revenue improvements last year, but those exceptions were primarily due to bulk acquisitions, as opposed to “organic” growth: exceptions to the rule.

American Express Settles Suits; Amends Surcharge Rules

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] American Express agreed to settle two putative antitrust class actions filed by U.S. merchants that challenged the company’s Card acceptance agreements. The settlement agreement will address certain merchant concerns, while helping to ensure that American Express Card Members are treated fairly at the point of sale. It will also limit the…

PIN Data Also Stolen From Target

Target confirmed this afternoon that some of the data stolen involved PIN data. This data is encrypted and isn’t expected to compromise cardholder accounts, however its not welcoming news to the millions that shop and used their REDcard. Target is currently working with investigators to understand how the breach happened and fully understand what information, encrypted or not, was compromised. Continue to check with CardFlash for the latest as more information becomes available.

US Debit Card Growth

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] While Visa is the “King” of U.S. debit cards with a 71% share in the third quarter, MasterCard is slowly making in-roads after missing the mark in 1999. In the third quarter Visa posted $402 billion in U.S. debit card gross dollar volume( GDV), compared to MasterCard’s $164 billion. Visa’s U.S.…

Conference Board Index Sees Fifth Consecutive Month of Growth

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Having increased the past five consecutive months, the Conference Board Leading Economic Index for the U.S. was up 0.8% in November to 98.3 after a 0.1% increase in October and a 0.9% increase in September. This helps lift the six-month annualized growth rate to 5.1% from 3.7% in the previous six…

Credit Card PDV

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Credit card purchase dollar volume (PDV) is slowing due to anemic holiday sales. Year-on-year growth is expected to decline to 8.2%, compared to 8.4% one-year ago. Citibank reported purchase dollar volume on credit cards rose a mere 1% from $19.1 billion one-year ago to $19.2 billion in the third quarter of…

Americans Focusing on Cleaning Up Credit

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Americans are getting their financial houses in order by paying closer attention to their credit scores and managing their debt, according to the inaugural “How America Buys and Borrows” survey by Wells Fargo & Company. Indicating Americans are focused on managing their credit, with nearly 60% having checked their credit score…

MoneyGram Hits 200-Country Milestone

MoneyGram reached a company milestone and is now offering services in 200 countries and territories worldwide. The achievement follows new agreements with agents in Equatorial Guinea and Myanmar. The move to include MoneyGram services in Equatorial Guinea and Myanmar strategically targets previously underserved customers, and aims to bring customers closer through money transfers that can be made to and from locations across the globe.

CashStar Announces Latest Gift Card Program Client

CashStar launched its eGift card program with Hacienda Colorado, giving consumers the option to personalize and send digital gift cards online and via mobile devices from the restaurant known for its signature Mountain Mex cuisine. The restaurant selected the CashStar platform because of its best-in-class platform and ease of implementing promotions to drive purchases and incremental revenue. The CashStar platform enables consumers to easily select the design and denomination for each eGift card, include a personal message, and determine delivery date and time all through Hacienda Colorado’s website. In addition to CashStar’s high-quality Web-based gifting experience, the platform also provides a specifically designed user interface for mobile devices.