A new study has found 49% of retailers have seen their payment costs increase in the past 18 months while 56% expect them to keep rising. Also, 93% of retailers believe consumers want a broader choice of payment tools.
New research on customer retention surprisingly reveals that companies encouraging their customers to switch products can increase rather than decrease customer turnover. Therefore, proactive retention campaigns may backfire producing higher attrition.
American Express has qualified Galitt KaNest-ICC test tool as conforming to its AEIPS 6.0 specification. AmEx is now including Galitt KaNest-ICC AEIPS TTS 2.00.00 test tool in its Approved Product List for the AEIPS 6.0 specification.
The average charge-off ratio among the nation’s four largest issuers increased 12 basis points (bps) quarter-to-quarter (QOQ) to 3.09% in the first quarter (Q1/15). The top 100 U.S. banks posted a 10 bps increase QOQ to 3.07%, according to CardData.
Purchase Dollar Volume (PDV) for Visa, MasterCard, Discover and American Express U.S. credit cards is expected to reach $4.2 trillion annually by year-end 2019. According to forecaster RAM Research, the U.S. PDV for the U.S. credit card industry is growing at a CAGR of 9.99%.
The number of Japanese merchants accepting the China UnionPay card has soared 20% over the past year to nearly 400,000.
The weak Yen and easing of the Japanese visa policy is attracting more Chinese tourists this year as UnionPay adds special incentives.
MasterCard has extended its Business Perks program to South African business cardholders. South Africa is focused on supporting Small and Medium Enterprises (SMEs) in its “Vision for 2030.”
MasterCard is gobbling up a top cloud-based analytics provider for $600 million. The acquisition of Applied Predictive Technologies (APT) follows the recent acquisition of 5One, a London-based retail consulting and analytics firm.
A recent survey found global financial services industry executives are increasingly required to do more instant decision making. Three out of four respondents said they process immediate payments of one kind or another, and this number will grow as projects underway in countries such as Australia are implemented and planning progresses within Europe’s SEPA framework and the U.S. Federal Reserve.
A NH-based t-shirt manufacturing company has signed-up to accept credit cards and multiple cryptocurrencies. The Mountain, with $40 million to $50 million in annual sales, will now accept credit cards and multiple cryptocurrencies.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Jennifer Miles, President, Verifone Americas.
A portfolio of 15 U.S. granted patents and 9 applications, disclosing a comprehensive set of systems for improving and securing the existing payment card system is going up for sale. It contains the work of inventor Moon J. Kim, a former IBM Master Inventor and named inventor on over 120 patents.