After failing to come to terms with Costco in March for a contract renewal beyond 2016, American Express has inked Sam’s Club for card acceptance as of October1st. The membership warehouse club serves 500,000 small business owners every day and offers tons of opportunities for AmEx despite Sam’s razor thin profit margins.
In today’s CardFlash News Que: CLUTCH (POS on Cloud); WORLDPAY (WildWorks); SAM’S CLUB (small biz) and ZAPPER (AppWatch).
The global business-to-consumer (B2C) e-commerce and online payment market will begin to slow this year, nonetheless B2C e-commerce worldwide is expected to top a trillion euros by 2018. Asia-Pacific region is forecasted to be the fastest growing B2C E-Commerce market worldwide.
Hamburg-based business intelligence organization yStats.com reports that even as forecasted global growth rates slow from close to +20% in 2014 to around 10% by 2018, B2C E-Commerce worldwide is expected to top a trillion euros by that year.
Gift card sales will likely continue grow at a 6% compound annual growth rate (CAGR) through 2017. However, e-gifting which is expected to supply the next leg of growth for the gift card industry over the long-term, grew less than expected this year.
Paris-based Gemalto says President Obama sent a strong message to American consumers and the payments industry by endorsing the highest level of security for government payment cards and terminals.
After the launch of Apple Pay this week, the experts are weighing in and declaring Apple Pay will succeed where other mobile payments solutions have faltered. Some experts say Apple Pay may make using physical credit cards obsolete.
Global growth rates for B2C E-Commerce will likely slow from close to +20% in 2014 to around 10% by 2018. The Asia-Pacific region is forecasted to be the fastest growing B2C E-Commerce market worldwide and to overtake North America as the number one region in terms of B2C E-Commerce sales within a few years.
Bancomer Transfer Services signed an agreement with Wal-Mart de Mexico y Centroamerica that will enable BTS customers to collect remittances directly at the stores of one of Mexico’s largest retailers. Tje BTS’s money transfer system will now be available through Wal-Mart’s 1,100 stores in the country. Remittances constitute a major bond between Mexico and the U.S.: In April 2014, remittances to Mexico grew 2.1 percent year-over-year, according to Mexico’s Central Bank. Wal-Mart de Mexico y Centroamerica, a subsidiary of Wal-Mart Stores Inc., said that the deal makes the retailer even more of a convenient destination for its customers.
Walmart and Ria are launching the Walmart-2-Walmart Money Transfer Service allowing users to transfer money to and from more than 4,000 Walmart stores nationwide. Walmart-2-Walmart offers a clear fee structure with just two pricing tiers: customers can transfer up to $50 for $4.50 and up to $900 for $9.50. Competitive offerings often include 10 or more fee tiers and charge up to $70 for transferring less than $1,000. Money transfers above $50 make up the majority of transactions in the U.S. Walmart-2-Walmart will bring dramatic savings to these customers. Walmart also offers other everyday money services such as check cashing, bill pay, money orders and tax preparation services, as well as industry-leading pre-paid card programs though the Walmart MoneyCard, and Bluebird, a checking and debit alternative.
Sam’s Club has finalized a multi-year agreement with GE Capital Retail Bank to extend their existing relationship to provide Sam’s Club-branded credit cards to club members in the U.S. and Puerto Rico. As part of the extension, GE Capital’s Retail Finance business will continue to manage and service the credit card programs for Sam’s Club Savings, Business and Plus members. Under the agreement, the Sam’s Club co-branded credit card programs will be converted to MasterCard later this year, providing members with a broader card acceptance network, as well as more robust features and benefits.
Green Dot and Walmart announced have expanded the line of Walmart MoneyCard reloadable prepaid debit cards to include six new card types designed to meet the needs of their growing customer base. The Walmart prepaid debit card portfolio now includes nine cards and include Mobile Web Registration; Check Cashing Reloads Account Alerts; Gas Discounts; Pharmacy Discounts; Merchant Funded Offers; Purchase Protection / Assurance (Visa and MasterCard); and Walmart MoneyCard Portfolio.