Despite devaluing its rewards program for customers by 20% in April, Starbucks Rewards continues to draw in more members by 16.5% year-on-year (YOY) in the latest quarter (1Q/16). According to First Annapolis , a consulting concern, Starbucks will be launching an open-loop Visa prepaid card with Chase and plans to enhance personalization of marketing loyalty…
The Bill.com Network is reaching critical mass, surpassing the 1 million member mark and $25 billion in annual transactions. Through the Network, Bill.com connects businesses and banks in the cloud, enabling faster and lower-cost payments and improved collaboration to bring digital business payments into the 21st century. With more than 1 million members in the…
Fiserv has inked 25 credit unions, with approximately $2.5 billion in assets and 250,000 members collectively to commit to the CUnify account processing platform from Fiserv. Five of these credit unions are new core processing clients of Fiserv, and will be converting to CUnify in 2016. CUnify is a scalable account processing platform with streamlined…
CardFlash News Briefs: TSYS (CQM); HEARTLAND (LiquorPOS); MEMBER SOLUTIONS (PCI-DSS); and CARDFLIGHT (TSYS).
The U.S. Department of Defense issued a final rule expanding the types of credit products that are covered by the 36% rate cap and other military-specific protections under the Military Lending Act. The Act provides servicemembers and their dependents with specific protections for their “consumer credit” transactions.
VA-based PenFed Credit Union (PenFed) has ankled Zubair Rana as its chief marketing officer. Rana will oversee all marketing and advertising operations for PenFed, which holds $18.6 billion in assets, and is one of the largest credit unions in the country.
Fiserv, Inc. announced that PBC Credit Union, based in West Palm Beach, Florida, has expanded its long-term relationship with Fiserv, upgrading its DataSafe® account processing platform and adding integrated digital solutions to enhance member services. The credit union added Mobiliti™ for mobile banking, Loancierge® for Credit Unions for automated lending, Wisdom™: Accounting for comprehensive accounting and Wisdom: 5300 Call Report Assistant for call report functionality.
American Express is beefing-up its Premier Rewards Gold Card with 2x Membership Rewards points for purchases at U.S. restaurants, a $100 airline fee credit for incidental charges such as baggage fees, and a personalized travel service.
Agent member credit card programs gained steam again last year and are poised for a good 2015. However, 60% of those in the agent programs last year achieved a medium performance level, offering some sales training and average rewards, but lackluster results.
Atlanta-based Vanco Payment Solutions relaunched with new branding and a new website that amplifies its position as a top provider of specialized payment solutions for faith-based, nonprofit, and professional services organizations. The company processes over 13.1 billion in electronic payments annually for more than 30,000 clients.
GoHenry banking tools for young people announced new features to help children and teens to easily budget and save. The feature has been introduced to kick off the New Year, when many of us set new goals for our financial lives. It’s been designed to encourage and motivate young people to plan and spend their pocket money and allowances wisely and stay within their means. Children and teens using goHenry now have the option to create multiple Savings Goals so they can save for the things they need and want. goHenry then suggests how much a user should save each week to reach their goal and automatically sets aside a recommended amount on a weekly basis to hit that target. Parents and relatives have the option to contribute towards Savings Goals if they wish. Users set the amount they need and set the date for when they want to reach their Savings Goal. Then goHenry suggests how much the child/teen needs to save each week to reach their goal and automatically pulls the amount they need each week from their pocket money payments into their Savings Goal.
The Commodity Futures Trading Commission (CFTC) has approved the National Futures Association (NFA) prohibition of credit cards to fund retail Forex accounts.