Despite, the lowest levels of delinquencies and net charge-offs, US credit card asset quality are expected to weaken modestly in 2016. The slowdown in asset quality improvement does not signal material credit deterioration over the near to intermediate term, but portfolio seasoning and recent growth will also weigh more heavily on credit quality metrics in 2016.
A new report suggests the U.S. commercial credit card market continues to demonstrate positive growth despite recent corporate economic challenges and increased levels of investment in corporate payable solutions.
Naples, FL-based ACI Worldwide announced its involvement in several key boards and councils around the globe all with a singular focus of driving industry standards for real-time and immediate payments.
Bank of Canada sent shock waves last night when it decided to cut overnight rates to 75 basis points (bps). This may have impact on Canadian credit card ABS.
A new report suggests late stage delinquency metrics may be signaling a possible inflection point in credit loss performance. Credit loss metrics will begin to weaken throughout 2015 as more recent vintages begin to season.
New research reveals that roughly 26% of Canadian mobile phone users have made a mobile payment in past 12 months, up from the 17% two years ago. In a typical month, mobile payers (who have made a mobile payment in past 12 months) use their mobile phone to make a payment about four times per month.
Mobile payments made at the physical point of sale (POS) in Canada could reach US$13 billion by 2017. However, there are near-term challenges to widespread adoption of mobile banking and E-Wallet/P2P payments.
Sysnet Global Solutions, a leading provider of Payment Card Industry (PCI) compliance management services specialising in PCI DSS and merchant intelligence solutions, announced that it has appointed Branden Williams as EVP Strategy, with ownership of global sales and marketing. Branden has over fifteen years of experience in technology and information security with a formidable background in the majority of the technologies that drive today’s businesses. After spending the first several years of his career working with education institutions and internet service providers to secure their infrastructures, Branden co-founded an IT consulting business that was later sold to a venture capitalist. Branden holds a Masters of Business Administration from the University of Dallas and is a current doctoral candidate in business intelligence at Capella University.
Zale Corporation has signed a new, multi-year private label credit card program agreement with Alliance Data Systems Corporation. Through its Comenity Capital Bank (“CCB”) subsidiary, Alliance will provide private label credit cards to customers of Zale in the United States. Following the completion of program implementation during the first half of fiscal 2014, Zale will begin to receive benefit from Alliance Data’s extensive marketing, analytical and technical services. For each of Zale’s U.S. brands, Alliance Data will provide proven marketing and database capabilities, sophisticated analytics and a suite of omnichannel marketing tools designed to generate sales and extend brand affinity. Alliance Data will also provide a portfolio of innovative tablet and mobile marketing solutions for fine jewelry that are designed to optimize cardholder acquisition and retention. In addition, Zale will receive a commencement payment in July 2013 from CCB.
Boulder Valley Credit Union implemented Tyfone’s (www.tyfone.com) mobile financial services to enable next-generation mobile banking services for its member customers. With an integrated strong ID authentication mobile security and NFC contactless payments, BVCU can now offer its members a convenient, secure and integrated mobile banking solution. Tyfone’s mobile banking solution offers a complete range of features for banking customers. In addition to standard mobile banking features, such as checking balance, account history review, fund transfers, branch and ATM location lookup and customizable alerts, Tyfone’s multimode mobile banking solution offers convenient features. These include Mobile Remote Deposit Capture (mRDC); Person-to-Person (P2P) payments; Bill pay integration; and m-banking enrollment of non-PC bankers.
VeriFone expects to report 1Q net revenue between $425 million to $430 million and net revenues between $424 million to $428 million. VeriFone expects to report non-GAAP net income per share between $0.47 and $0.50 and GAAP net income per share between $0.07 and $0.10. The revision was driven by weak macro-economic conditions in Europe;…
The NFC Forum created the “Special Interest Groups” (SIGs) that will bring together leaders from the areas of Consumer Electronics, Health Care, Payment, Retail, and Transport to collaborate on NFC solution implementation, interoperability, best practices, and future requirements. With this, the SIGs will enable the NFC Forum to take a more active role in driving NFC solutions development, deployment, and adoption. Analysts estimate that more than 100 million NFC-enabled phones were sold in 2012 and close to 300 million will be shipped in 2013. NFC Forum membership is at an all-time high, and the organization has achieved major milestones in specification development and certification. Each SIG leverages the Forum’s alliance partnerships in that area, for educating the market on use cases; gathering business requirements to drive new or modified technical work; exploring ways to speed or smooth certification of NFC-enabled devices; establishing and managing liaisons with other groups to further collaboration efforts; and creating regional programs as needed.