For the first time UK ‘non-cash’ payments have exceeded those made with cash, reflecting the steady trend to use automated payment methods and debit cards rather than pay by notes and coins. However, cash remains the most popular payment method by volume, followed by the debit card, which accounted for 24% of all payments last year.
Apple Pay, lack of ATM support and the inability to enable payments in the banks’ existing mobile application is a big mixed bag for banks says new research.
The Fuel Rewards program is picking up more octane with insightful marketing data about customers’ preferences and activities, and the powerful backing of a national coalition of merchants focused on increased sales and deeper brand loyalty.
MasterCard’s net income will likely top a record $1.2 billion in the first quarter of 2016. Forecaster RAM Research predicts MasterCard net income for the second quarter will be $1091 million, due to the continued strengthening of the U.S. dollar.
Visa’s quarterly net income is projected to slow for this year and hover at the $1.5 billion mark in the fourth quarter and the first quarter of 2016. Forecaster RAM Research predicts Visa net income for the first quarter will be $1504 million, due to the continued strengthening of the U.S. dollar.
NY-based Transfast has launched mobile and online money transfer services to nine banks in Pakistan. Pakistan attracted about US$17 billion in remittances in 2014, making it the seventh-largest remittance market in the world.
IndusInd Bank Limited has teamed with Worldpay to offer domestic acquiring services in India. Worldpay already offers local acquiring across 45 countries and by having a partnership in India, the company will be able to acquire Indian merchants domestically.
Verifone’s end-to-end encryption and tokenization solution has been vetted against PCI Data Security Standard (DSS) requirements. VeriShield Total Protect protects merchants, payment providers and consumers alike.
Lightning Payments has finally come to the Canadian market, creating the first and only processing alternative for the county’s QuickBooks’ software and Point of Sale (POS) users.
Jim Battista is back and has helped form the new Factor4 business to offer gift and loyalty solutions to merchants. The Company has acquired the book of business containing over 11,000 gift and loyalty customers from SparkBase.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Annmarie Hart, president and CEO of MagTek.
The UK’s Optimal Payments (OPAY) has hooked up with San Francisco-based Boku technology. This will be offered through the NETELLER service: a fast, simple, secure platform for businesses and individuals to move money online. NETELLER customers can now top-up their stored value accounts by charging the purchase amount for goods and services directly to their mobile phone bill.