U.S. Consumer Credit 3X+ YOY Growth Rate – May Top $1T at EOY 2016

U.S. consumer revolving credit, mostly credit card debt, exploded in November, growing at double-digits annually. While slipping downward over the past three months, consumer credit jumped to a 13.5% annual rate of growth, compared toto a revised +2.9% annual rate in October and a revised +5.1% annual rate in September. Overall consumer credit increased at…

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Processors AMS & BSR Ink Financing Deal as BSR Accelerates from ISO to FSP

Applied Merchant Systems (AMS) has expanded its senior credit facility with Goldman Sachs and Business Development Corporation of America through a Strategic Transaction with Blue Square Resolutions. Blue Square’s founder, Sabin Burrell, has become a significant shareholder; while also continuing to serve as CEO of BlueSquare. AMS now has 17,500 merchant accounts that contribute over…

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Payments Software Leaders to Unveil the Latest POS Stuff at the NYC Big Show

Star Micronics is teaming up with seven top payments related software partners at National Retail Federation (NRF) Big Show to show-off their latest cool payments products. Partners include: Star Cloud Services, Itemize, Dôr, MoZONE, Thirdshelf, nClose and e-Nabler. Star Micronics has designated a portfolio of printing, secure cash management, and customer engagement solutions for any…

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Rakuten eCommerce Adds Diners Club and JCB Credit Cards via Wirecard

Germany’s Rakuten Deutschland, the eponymous e-commerce platform, is gearing-up to add new payment methods via Wirecard. Rakuten Deutschland is a subsidiary of the Japanese platform Rakuten and is a shop software for merchants and a marketplace for end customers in a single solution which also handles payment processing. More than 7,000 suppliers currently use the…

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Visa Mastercard CIF Up 8% YOY Driven by Costco Card Conversions

U.S. cards-in-force (CIF) for Visa and Mastercard payment cards (credit & debit) increased 7.8% year-on-year (YOY) in the third quarter (3Q/16), according to CardData.com. U.S. credit cards increased 11.2% YOY while CIF for debit cards rose 5.1% YOY, in 3Q/16. There are were 1249 million Visa and Mastercard payment cards in circulation in the U.S.…

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AmEx USCS P&L Plummets in the Wake of Costco & JetBlue Losses

The impact of the loss of the U.S. Costco and JetBlue programs continues to manifest itself in the American Express (AmEx) U.S. Card Services (USCS) unit during the third quarter (3Q/16). Revenue and income declined significantly year-on-year (YOY) as outstandings (OUT) also took a big hit, all by double-digits, according to CardData. AmEx reported 3Q/16…

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In-Vehicle Payment Tech Roars Along with AI, 3D, VR Tech at 2017 CES

Honda and Visa have joined hands to demo in-vehicle payments with Gilbarco and IPS Group at this year’s CES. The demonstrations will be done with fuel pumps from Gilbarco Veeder-Root and smart parking meters from IPS Group.   Developed by the Honda Developer Studio, the fuel and parking proof-of-concepts offer a quick and seamless in-vehicle…

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Payfone Lands More Investment as TNS Joins AXP in Latest Funding Round

Payfone, a specialist in mobile identity authentication for digital channels, has nailed another funding round of $23.5 million. Among new investors is Transaction Network Services. American Express Ventures remains an initial investor. BlueCross BlueShield Venture Partners and Andrew Prozes led the round with new investors Strauss Zelnick, Maclab Development Group and Transaction Network Services, and with participation from current investors…

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