Starr Companies announced the availability of travel insurance and payment card assistance services for travel to Cuba. These plans provide trip cancellation and trip interruption insurance as well as accident and sickness benefits. In addition, the plans provide the coordination of medical and assistance services for travelers during their travel and visit to Cuba. The…
FL-based Stonegate Bank becomes the first bank to offer a Debit MasterCard that can be used at any of Cuba’s 10,000 hotels, restaurants and other card-accepting merchants.
China UnionPay (CUP) is on a path to dwarf all other global payment systems combined and on a trajectory to cross the US$10 trillion in annual transaction value milestone in mid-2016 and may reach US$18 trillion by end-of-year (EOY) 2019. CUP racked up US$6.5 trillion in transaction value last year, according to CardData. Forecaster RAM Research’s CAGR Corner computes CUP compound annual growth rate (CAGR) at 23.44% .
Since its founding in 2002, the China UnionPay (CUP) network has emerged as a force to be reckoned with globally. Over the past five years the annual transaction value has soared by 2.5 times and last year grew more than 27% year-on-year (YOY), according to CardData.
The first China UnionPay card has been issued in Lebanon by
Fransabank. The deal supports the implementation of the “One Belt One Road” strategy.
While ATMs in Cuba have been accepting China UnionPay (CUP) cards since 2013, merchant acceptance of CUP cards is expected this year. Cuba is getting more popular among Chinese tourists as no visa is required for Chinese citizens.
MasterCard is lifting a block in March 1st on U.S. bank-card transactions in Cuba after receiving guidance from the Treasury Department’s Office of Foreign Assets Control.
Atlanta-based MobileRecharge.com has launched MobileRecharge, an app for iOS and Android devices. The app is free to download on App Store and Google Play.
CardWeb.com’s CardPixes database of more than 7,000 card images today features the Scotiabank Gold American Express card. The card is issued by Canada’s Scotiabank .
Federal Reserve Board on Wednesday issued a consent order to cease and desist and a civil money penalty assessment of $50 million against the Royal Bank of Scotland Group plc (RBS Group) and the Royal Bank of Scotland plc (RBS plc). The order and penalty address unsafe and unsound practices related to insufficient oversight by RBS Group and RBS plc of its U.S. dollar clearing practices and economic sanctions compliance programs. These practices involved transactions that included funds transmissions with entities and individuals subject to U.S. sanctions regulations regarding Burma, Cuba, and Iran. Under the cease and desist order, RBS Group and RBS plc must improve their programs for compliance with U.S. economic sanctions.
The NFC Foundation Board of Directors elected Gary Spinazze to a two year term as Chair of the NFC Foundation, the charitable giving arm of Nash Finch Company. Board Member Paula Docken, Business Analyst, chair of the Community Outreach Committee was named as Chair Elect. The NFC Foundation Board is comprised entirely of Nash Finch employees who volunteer their time, energy and passion for community service in service to the Foundation and the community. Nash Finch Company supports the Foundation by shouldering the Foundation’s administrative expenses to ensure that donations are used to support those in need. Nash Finch associates from around the country volunteer on Foundation Committees as well as for our non-profit partners, donating their time, skills and money in support of the Foundation’s mission.
MoneyGram global money transfer company announced CI Banco foreign currency exchange bank joined its growing money transfer network. CI Banco is now providing MoneyGram send and receive services at its 128 locations, strengthening MoneyGram’s position and is subsequently MoneyGram’s second largest send agent in Mexico.