Ingo Money and TSYS’ NetSpend and prepaid provider of choice to self-banked consumers and the brands that serve them have extended the utility of NetSpend and partner-branded prepaid card accounts, providing cardholders with access to funds from checks through NetSpend’s mobile banking platforms.
PSCU announced the appointments of Cathy Pace, President and CEO, Allegacy Federal Credit Union, Winston-Salem, North Carolina; and Andrew Rosen, President and CEO, Hawaii State Federal Credit Union, Honolulu.
Early stage delinquency (30+ days) edged down by 13 basis points sequentially and year-on-year (YOY), on average to 1.83%, among the nation’s top four U.S. credit card issuers. Citibank appears to be doing the best, dropping 19 basis points in Q2/15, compared to Q1/15.
Charge-offs among the nation’s top 4 issuers dropped 27 basis points (bps) year-on-year (YOY) to 2.97%, and 6 bps sequentially. Bank of America (BofA) has done the best job of reigning in card losses, dropping 43 bps YOY.
China’s UnionPay has beefed-up “QuickPass” in Taiwan with more than 300 merchants in Jinmen, Matsu and Penghu by a deal inked with Taiwan Cooperative Bank. So far, over 1,000 POS terminals of Taiwan Cooperative Bank can accept UnionPay “QuickPass” in Taiwan.
Santander UK has launched the group money management app KiTTi – the first virtual ‘cash kitty’ of its kind. The app allows up to 100 friends to create collective pots of money, monitor and manage transactions, and pay using the KiTTi prepaid contactless MasterCard.
Digital payments using wearables devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market.
CA-based InfoGard is now accredited by EMVCo to conduct Terminal Type Testing and will immediately begin offering Level 2 contact testing and pre-evaluation services. EMV pre-evaluation services include debug testing and compliance consulting. Additional EMVCo testing services are being planned to support its payment customers.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Oliver Rajic, CEO, of Alpha Payments Cloud.
U.S. Bank has inked a major deal with Adelman Travel, through which Adelman will offer U.S. Bank’s suite of corporate payment products, including its virtual payment technology, to corporate payment clients.
Toronto-based CanadianForex has launched the “Forex Money Transfer,” the latest advance in currency transfer apps. Forex Money Transfer enables consumers on-the-go to send money in 48 currencies to friends, family and merchants around the globe.
Later this summer, Burger King will expand its use of MasterPass to its app which offers exclusive deals and allows users to locate the nearest restaurant, explore the menu, and pay directly with their phone. Starting this fall, Firehouse Subs will begin accepting MasterPass too.