UnionPay International and Dubai Tourism Ink a Major Deal

UnionPay International and Dubai Tourism Ink a Major Deal

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] UnionPay International and Dubai Tourism has announced their partnership in Shanghai, agreeing to jointly enhance the payment convenience in Dubai for UnionPay cardholders through resource sharing and advantage complementing. With this cooperation, the two sides jointly launch a marketing campaign for UnionPay cards (card number starting with 62) at over one…

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Special Breaking News Mentions January 20, 2016

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] CardFlash.com Breaking News: WU (milestone); PINNACLE (investment); EMAZZANTI (PCI); and FIDO (milestone). WU – The Western Union Company announced its account payout network, a global capability that enables cross-border money transfers to be directed to bank accounts – has reached a new milestone, now connecting consumers to over one billion bank…

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BofA Grapples With 4Q/15 Credit Card Portfolio Stagnation

BofA Grapples With 4Q/15 Credit Card Portfolio Stagnation

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The nation’s second largest Visa and MasterCard issuer continues to struggle with sluggish outstandings and purchase dollar volume (PDV) growth, plus credit card quality is inching north. BofA (EOP) U.S. bank credit card outstandings declined 2.5% year-on-year (YOY) to $89.6 billion for the fourth quarter (4Q/15). Meanwhile, Purchase Dollar Volume (PDV)…

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Wells Fargo - 2nd Fastest Growing Top 10 U.S. Card Issuer

Wells Fargo – 2nd Fastest Growing Top 10 U.S. Card Issuer

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Wells Fargo’s credit card fourth quarter (4Q/15) portfolio outstandings jumped 9.3% year-on-year (YOY) to $34.0 billion. Purchase dollar volume (PDV) soared 12.5% YOY to $18.9 billion, compared to 15.1% YOY in the prior quarter. Wells Fargo is the second fastest growing U.S. card issuer among the top ten, next to Capital…

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Wirecard Inks Visa Europe Collab & Austrian Federal Railways

Wirecard Inks Visa Europe Collab & Austrian Federal Railways

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Wirecard Technologies has inked a partnership with Visa Europe Collab. Wirecard also inked a major deal with Austrian Federal Railways (ÖBB). Visa Europe Collab is an initiative from Visa Europe that operates Innovation Labs in Berlin, London and Tel Aviv. As a strategic development partner of Visa Europe Collab, Wirecard will…

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MasterCard Installments Option Set for Summer Launch

MasterCard Installments Option Set for Summer Launch

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MasterCard Installments is gearing-up in Europe enabling cardholders to split transactions across equal monthly installments using their existing debit, credit or commercial card at the time of purchase. MasterCard says this makes high-value purchases, such as a new TV or car repairs, more attainable and manageable for consumers. MasterCard Installments can…

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KDC500 – Smallest PCI Certified EMV/MSR Payment Companion

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] NJ-based KOAMTAC has teamed with e-Nabler, developer of the mobile POS software eMobilePOS. Through this partnership, merchants will be able to deploy turn-key tablet and handheld based POS solutions that comply with EMV payment requirements. KOAMTAC KDC Bluetooth barcode scanners and mobile POS companions are the world’s most compact yet durable…

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Chargebacks Remain a Major Nuisance for U.S. Merchants

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] For Visa and MasterCard transactions, chargebacks merchants receive are, on average, 1.6 basis points (bps) of sales number and 6.5 bps of sales value. About 70% to 80% of chargebacks are resolved as merchant liability. The most common chargeback reason is fraud, which accounts for about 50% of the total chargebacks.…

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Verifone Inks a Major Payment Gateway Deal

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Verifone has inked a deal to acquire AJB Software Design, a Toronto-based provider of payment gateway and switching solutions for large merchants in the U.S. and Canada. Approximately 150 large retailers in the U.S. and Canada rely on AJB’s on-premise gateway and other solutions to connect nearly a half million payment…

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Holiday E-Commerce Hit $550MM Reports eBay Enterprise

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] E-commerce sales fulfilled by stores reached $515 million during the holiday season – a 62% increase from 2014 – which can be largely attributed to consumers truly embracing a seamless shopping experience, particularly during the holiday season. eBay Enterprise says its latest data shows ecommerce order volumes fulfilled by stores increased…

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Special Breaking News Mentions in Today’s CardFlash

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] CardFlash.com Breaking News: ELO (iMobile3); INGENICO (ePayments); ACI (holiday fraud); and USAEPAY (POS). ELO – Elo, a leading global supplier of touchscreen solutions announced iMobile3, a mobile applications platform provider, has certified two Elo PayPoint point of sale (POS) systems for use with its Merchant-In-A-Box software platform. iMobile3’s Merchant-In-A-Box offerings combine…

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Citi Credit Card Profits Sag as Portfolio Stagnates

Citi Credit Card Profits Sag as Portfolio Stagnates

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Citibank North America branded credit card profits declined 19.0% and Citi retail cards declined 5.5% year-on-year (YOY) in the fourth quarter (4Q/15). Citi branded cards continue to experience no growth in outstandings and impacted by increased acquisition and rewards costs. 
 EOP outstandings declined 0.4% YOY from $67.5 billion one-year ago…

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