In the wake of China opening up is network Visa and MasterCard on June 1st China UnionPay (CUP) transaction volume continues to explode racking up a stunning 48% increase in 2014, following a solid gain of 37% in 2012. Last year, CUP’s bankcard interbank transaction volume hit 32.3 trillion yuan (US$ 5.18 trillion).
In today’s CardFlash News Que: IR (partner program); CSI (China); JANE (Geoswift); and RESEARCH & MARKETS (Canada).
PSCU has announced that Community 1st Credit Union has joined the nation’s leading CUSO after an extensive partner evaluation process. The credit union, which currently has more than 55,000 members, $530 million in assets, and 16 locations in 14 cities, signed a five-year deal with PSCU.
U.S. Bank and Fiserv have expanded their relationship of 15 years. U.S. Bank, the fifth largest bank in the United States, inked a five-year renewal for the CheckFree RXP electronic billing and payment, Popmoney personal payment and TransferNow account-to-account transfer solutions.
CardWeb.com’s CardData database of Company Profiles today features NXP Semiconductors.
UK-based Monitise reported an adjusted loss after tax of £38.5 million for the second half of 2014, compared to a loss of £16.4 million for the first half. The Company is currently considering strategic alternatives.
Montreal-based Pivotal Payments has inked a five-year agreement with Breeders’ Cup Limited, which administers the Breeders’ Cup World Championships, Thoroughbred racing’s premier international event.
Total new bank-issued card credit originated year-to-date in September was $183.9 billion, a six-year high and an increase of 25.9% from same time a year ago. The total number of new cards issued year-to-date in that same time was 37.7 million, also a six-year high and an increase of 20.1%.
Citymarket, a chain of small grocery stores owned by PRV STORES PY SA, has opened ten stores in Asuncion, Paraguay and plans to open four more by year’s end featuring NCR technology at the point of service.
Over the past year bank-issued credit card limits have soared by 43.5% to $12.68 billion. Retail-issued credit card limits also rose by16.2% to $6.87 billion.
Millions of smart cards are in use today in Latin America and the Caribbean in EMV chip cards, mobile payments, e-passports, smart transit fare cards, secure government, healthcare, enterprise IDs and more. Now the Smart Card Alliance Latin America group has signed a big deal with Florida State University.
Tieto has signed a five-year agreement to provide Swedish Volvofinans Bank with extensive IT infrastructure, including a crucial data protection solution covering the bank’s 1.1 million Volvo Card holders. The order is initially estimated at around EUR 7 million. This will provide Volvofinans Bank IT infrastructure and end-user services, including management on several IT platforms. Tieto will operate parts of the server environment according to the international Payment Card Industry Data Security Standard (PCI DSS) – a protection standard endorsed by organizations such as American Express, MasterCard Worldwide and Visa Inc.