Sales Made on Smartphones Up 65% YOY as Retailers Embrace 2017 mRevolution

A new study shows 2016 direct online sales totaled an estimated 11.6% of total U.S. retail sales of $394 billion, but digital touchpoints actually impacted an estimated 49% of total U.S. retail sales. According to The State of Retailing Online 2017: Key Metrics, Business Objectives and Mobile by the National Retail Federation’s Shop.org division and…

Corporate Travel Policies Embrace Uber and Lyft — Driving Up Revenues 21%

A new report reveals ride-sharing services are now allowed by one-half of all corporate travel policies, a jump from 44% in June 2016. As policies expanded to include ride-sharing suppliers, such as Uber and Lyft, ridership among business travelers increased 21%. A majority of travelers anticipate using these types of services about the same amount…

Payment Solutions for the Cannabis Industry Ready to Explode

Regulated cannabis sales in North America totaled $6.9 billion in 2016, a 30% increase from the previous year, and sales are projected to grow to $21.6 billion by the year 2021, which represents a 26% compound annual growth rate. Voters in four states – California, Massachusetts, Nevada and Maine, voted legalize recreational Cannabis this November.…

CardFlight SwipeSimple to be Co-Branded for Vantiv ISOs

Vantiv is now offering CardFlight’s SwipeSimple mobile POS solution to its merchants. SwipeSimple is a turnkey mobile payment acceptance platform that includes an EMV-enabled mobile chip card reader, a mobile application for iOS and Android, and a back office reporting portal for business owners to take payments and manage their business. The solution will be…

Loyalty One CN-Driven Redemptions Kill Alliance Data Systems Q4 Profits

Dallas-based Alliance Data Systems (ADS) reported fourth quarter (4Q/16) year-on-year (YOY) profits sunk due to new legislation in Ontario prohibiting the time-based expiration of reward points associated with all loyalty programs. The cancellation of its 5-year expiration policy necessitated a change in ADS breakage estimate, according to CardData. ADS reported gross revenue rose 4.5% YOY…

China and Jack Ma Take Over U.S.-Based MoneyGram & its P2P Services

MoneyGram, a provider of innovative money transfer services, and Ant Financial Services Group, one of the leading digital financial services providers and parent company of Alipay, a global mobile payment platform, inked a deal to merge. The transaction will connect MoneyGram’s money transfer network of 2.4 billion bank and mobile accounts and 350,000 physical locations…

While Losing Marketshare BofA Holds Stable Q4 Credit Card Performance

The nation’s third largest Visa and MasterCard issuer continued to struggle in the fourth quarter (4Q/16) with sluggish outstandings (OUT) and purchase dollar volume (PDV) growth, but other metrics, remain fairly stable, according to CardData. Pre-tax net income edged down 1.8% YOY to $1290 million in 4Q/16, compared to $1218 million in the prior quarter…