MasterCard’s U.S. PDV Growth Hits a Four-Year High

MasterCard’s U.S. PDV Growth Hits a Four-Year High

MasterCard’s U.S. payment card (credit+debit) purchase dollar volume (PDV), for the first quarter (1Q/16), logged its highest year-on-year (YOY) gain in exactly four years (1Q/12). However, there was noticeable erosion in the average purchase transaction YOY. Even though the big MasterCard issuers struggle with stagnant growth in accounts (GAC) and cards-in-force (CIF), MasterCard continues to…

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Fortumo Direct Carrier Billing Adds African Countries

Fortumo Direct Carrier Billing Adds African Countries

San Francisco-based Fortumo has launched direct carrier billing in three new African markets. More than 52 million people in Cote d’Ivoire, Ethiopia and Senegal can now make seamless digital payments and get the purchases charged to their mobile phone bill. App stores, digital merchants and game developers using Fortumo can now significantly increase their online…

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Bank Dilemma: Friction + Cybercrime + Attrition

Bank Dilemma: Friction + Cybercrime + Attrition

New research on consumer friction and fraud attrition reveals well-intended step-up authentication challenges create friction and dilute consumer relationships. Of those saying performing additional steps had a negative effect on their perception of their bank and that it affected their behavior, 30% changed banks, 26% called customer service to complain and 26% used online/mobile banking…

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India’s Accept Express Payment Gateway Best X-Border

India’s Accept Express Payment Gateway Best X-Border

India’s Accept Express startup says it has developed a first-of-its-kind solution where the approval rate on card transactions is 99.9%. The payment platform offers payment acceptance solutions including Card Payment Acceptance, Online Bank Payments, E-Commerce, POS and Mobile POS Solutions. Accept Express received its first step funding of $12 million from White & Brooks Private…

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Discover Stays the Course Limited to Single Digit Growth

While not exploding, Discover’s (DFS) credit card portfolio continues to stay in positive territory. Year-on-year (YOY) growth in the first quarter (1Q/16) was limited to single digits, but charge-offs (CO) headed higher due to the historical seasonal impact of a first quarter. Discover’s total revenue rose 2.4% YOY to $2224 million, compared to $2205 million…

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