Two of the world’s largest operating systems launched major updates to their mobile payments solutions this month. Both Google and Apple now have a solid platform in Android Pay and Apple Pay to enable frictionless mobile payments with integrated loyalty features.
The 30+ day delinquency ratio for U.S bank credit cards continues to hover at a 25+ year low for the past two quarters and hit the lowest level since 1986. However, RAM Research projects early stage delinquency will rise 4 basis points for the second quarter.
The charge-off ratio for the top 100 U.S bank credit cards has been slowing edging upward, rising 10 basis points (bps) in the fourth quarter and 1 bps in the first quarter. RAM Research projects charge-offs will rise to 3.02% for the second quarter.
Six members of the European Automated Clearing House Association (EACHA) have joined forces to deliver centralized and optimized processing services for SEPA transactions. For this purpose they have set up a new company called European Clearing Cooperative (ECC).
About 46% of Canadian consumers prefer to pay using their credit cards more than any other payment method, compared to 34% in 2014. Nearly 30% indicated they were highly interested in the ability to use a mobile phone to stop an unauthorized transaction.
NAFCU Services Corporation has selected Velocity Solutions as their exclusive, Preferred Partner for a new checking account revenue solution, My Rewards Premium Cards.
The recent loss of Ed Gilligan at American Express has spurred CEO Ken Chenault to make major changes. The changes include the realignment of several businesses and reporting lines.
Seamless’ mobile payment service SEQR, which this spring has become established as one of Europe’s leading mobile payment solutions, is continuing its rapid roll-out into new markets. Having been introduced in a number of European countries in the spring, a couple of weeks ago the service was launched in the US and now it’s the UK’s turn.
Brooks Brothers and Citi Retail Services have inked a new multi-year credit card relationship. As part of the agreement, Citi Retail Services, a unit of the 203-year-old global bank, will provide private label and co-branded credit cards for the nearly 200-year-old retailer.
FL-based ZipLine, a merchant-branded mobile and ACH payment solutions provider offering consumers instant rewards at the pump and POS, announced the appointment of consumer loyalty and payments veteran Roger Brooks, as Senior Vice President of Business Development.
Worldpay announced that its Dynamic 3D Secure (3DS) solution will soon be available to merchants. The solution offers e-commerce businesses greater transaction acceptance success whilst giving them more flexibility and control over fraud prevention.
MasterCard announced that Rama Sridhar will take on the new role of Group Head, Regional Lead, Asia Pacific, Network, Processing & Security Solutions effective immediately. In this newly expanded regional role, Rama will take on responsibility for integrating the services of Network Products, Processing and Enterprise Security Solutions (ESS) into the regional go to market strategies.