Citi 3Q Intl Cards
Citibank’s international credit card portfolio continued to contract in the third quarter. The number of open or gross accounts (GAC) declined 300,000 in the Latin America region (LAC) and by 100,00 in Asia.
P2P Lending
Chase implied plans of collaboration with peer-to-peer (P2P) lenders are in the making as crowdfunding takes shape and legitimacy. New data shows the market in the U.S. is HUGE.
CFPB Tear
The Consumer Financial Protection Bureau has been on a recent tear: hitting a small-dollar lender for illegal debt collection practices; warning colleges to improve disclosure of school-sponsored credit card agreements; and an upcoming proposal to regulate payday-type loans with more severity.
EMV Migration
New research finds more than 50% of all cards in use now have EMV chips on them. From October to November, the percent grew 5% as banks and card issuers accelerated their rollout of new chip cards.
Infinea mPOS
IL-based Infinite Peripherals has unveiled an all-in-one EMV/Chip and PIN mobile POS solution. The Infinea mPOS and Infinea mPOS Flat solutions are for the iPhone 5 and iPod touch 5th and 6th generation.
Samsung Pay & Usher
Samsung wqnts to usher in the new year. Samsung Pay users will have the chance to be treated to an exclusive, special performance and private New Year’s Eve party featuring the platinum-selling recording artist, Usher, in Los Angeles.
MAG 100
The Merchant Advisory Group (MAG) has reached the 100 merchants milestone this week. The trade association was formed seven years ago.
Cybercrime Predictions
Cybersecurity will be a focus of the upcoming presidential election as organized crime rings continue to expand and terrorism shifts online. Retailers will continue to fall victim to attacks and suffer millions in losses and debts, leading to more lawsuits.
PIN-less Debit
Oberthur Technologies (OT) is beefing up its portfolio for the Austrian debit market by providing rechargeable debit cards integrating the Quick Electronic Purse loaded on OT’s latest contact and contactless cards.
DFS Stock
Discover Financial Services (DFS) has landed on Barron’s “Top Ten Stock Picks for 2016.” A “steady grower,” DFS replaces “sprawling” Bank of America (BAC).
Liberis & Worldpay
Liberis, a provider of cash advances to small businesses, has teamed with Worldpay to offer Britain’s small businesses the ability to take an unsecured cash advance based on their future credit and debit card sales.
Banking BPO
Reengineering back office processes, the increased digitalization and automation of these processes as well as smart document management are decisively contributing to increasing the productivity and efficiency of different financial entities in various countries.