PYMNTS

APRIL 1, 2020

billion non-prepaid debit card transactions in 2018, solidifying debit as a staple payment type. They insert or swipe their debit cards at stores’ point-of-sale (POS) devices — or key in details online — and maybe enter PINs, but the behind-the-scenes processes through which transactions are routed are kept invisible. shoppers made 72.7

Cards 141

Cards Payments Security Fraud 141

FICO

SEPTEMBER 13, 2022

UK Credit Card Trends: From 2008 Crash to Cost-of-Living Crisis. Changes in card management, customer behaviour and regulations make card delinquencies and other trends very different from the crash of 2008. In 2008 it was 5.25% with 4.62% in 2009. Darcy Sullivan. Tue, 11/10/2020 - 12:17. by Liz Ruddick. Average Spend.

Trends 52

Trends Cards Payments Management 52

CFPB Monitor

AUGUST 27, 2020

The CFPB has issued a new request for information about the credit card market that seeks comment on two related, but separate, reviews. The RFI includes citations to each of the CARD Act rules and further information about their content.). CARD Act Review. Section 610 Review. Debt relief and settlement.

Cards 78

Cards Marketing Compliance Innovation 78

PYMNTS

JUNE 20, 2017

Fuel card company FLEETCOR has a new leadership position, and the news was announced Monday (June 19) that the company appointed Steve Greene to the role. Greene has been with FLEETCOR since 2009 when he joined as vice president for Corporate Development. I look forward to working closely with Steve in this new position.”.

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Leadership Cards Regional Innovation 115

PYMNTS

OCTOBER 17, 2017

Credit card delinquencies increased for three consecutive months, adding to signs that consumers in the U.S. According to a news report in Reuters , credit card data from the likes of JPMorgan and Discover Financial Services on Monday (Oct. Meanwhile, Discover saw credit card delinquencies increase by 1.64 percent from August.

Cards 109

Cards America Data Lending 109

CFPB Monitor

JULY 5, 2022

The CFPB has taken the first formal step towards a new rulemaking on credit card late fees by issuing an Advance Notice of Proposed Rulemaking (ANPR). The CARD Act, which is implemented by Regulation Z, requires that late fees imposed by credit card issuers be “reasonable and proportional” to the violation of the account terms.

Cards 78

Cards Payments Analysis Policies 78

CFPB Monitor

MARCH 31, 2022

The CFPB has issued a report titled “ Credit card late fees ” that discusses the consumer impact of late fees by card type, credit score, and geography, and market reliance on late fees. Director Chopra commented as follows: Many credit card issuers have made late fee penalties a core part of their profit model.

Cards 78

Cards Report Regulation Strategy 78

PYMNTS

JULY 27, 2016

Credit card fraud complaints in the U.S. ValuePenguin analyzed data collected by the Consumer Financial Protection Bureau and found that there were approximately 70,000 credit card fraud complaints submitted in 2015. At the state level, the number of credit card fraud complaints were much more pronounced. Across the U.S.,

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Fraud Cards South Dakota West Virginia 100

PYMNTS

JUNE 5, 2019

Cards (as in prepaid, stored-value cards that consumers can use for gambling, payroll and a variety of other uses, many of them novel) are only half the battle. To get a sense of how the world of payments and cards has changed, Cregan told Webster a story about a conference he attended in Las Vegas in 2009.

Cards 158

Cards Las Vegas Innovation Mobile 158

PYMNTS

SEPTEMBER 9, 2016

Overdue credit card debt in China was up 4.9 percent of total loans outstanding on cards. percent of total loans outstanding on cards. The total number of bank cards in use in the latest period was up 15.8 billion cards. The data came from the country’s central bank. percent to 5.8

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Cards Payments Fraud Data 100

PYMNTS

JUNE 16, 2017

The credit card companies are out with data on May credit card charge-offs, which shows a mixed bag among the different players in the industry. Take Capital One, the credit card company, for starters. Meanwhile credit card delinquencies fell to 3.47 Auto charge-offs also decreased at the credit card company to 1.41

Cards 100

Cards Lending America Capital 100

PYMNTS

JULY 27, 2016

Victims of an illegal credit card billing scam have started receiving checks from the Federal Trade Commission. According to the FTC, the operators of the illegal credit card scheme made unauthorized charges on the credit cards and debit cards of victims for internet services they didn’t get. billion.

Cards 100

Cards Fraud Operations Report 100

PYMNTS

APRIL 27, 2017

consumers become more comfortable with carrying higher levels of debt, the biggest credit card companies reported an increase in chargeoffs in their portfolios during the first quarter of 2017. According to American Banker , the results suggest that the post-crisis era of exceptionally low losses in the credit card industry has ended.

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Cards Conference Capital America 117

PYMNTS

AUGUST 19, 2016

The consumer prepaid travel card, My Travel Cash, owned by payments company WEX , will shut down and has stopped taking new customers as WEX plans to refocus its business on corporates, according to reports. WEX Europe owns the consumer travel card company, first launched in 2009. 4 of this year. .

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Cards Operations Payments Report 100

PYMNTS

AUGUST 12, 2016

credit arena, as evidenced by card usage and payments. credit card ABS (that means asset-backed securities, which are fixed-income vehicles offering up cash flow from pooled credit card accounts) are performing nicely, with payment rates tied to a Fitch index on the upswing. The firm said the performance of U.S.

Cards 100

Cards Payments Retail Security 100

PYMNTS

OCTOBER 21, 2020

Using QuickAccept, SMBs can take payments through a mobile app or contactless card reader and get the funds instantly, with no fee. Before Square, launched by Twitter co-founder Jack Dorsey in 2009, SMBs had a hard time maneuvering point-of-sale (POS) card transactions. 21) CNBC report. Square, for example, charges a 1.5%

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Fintech Conference Cards Payments 309

PYMNTS

APRIL 10, 2017

The $1 trillion level has been attained for credit card debt within the country, with that level not seen since early 2009, when the shockwaves of the financial crisis first were felt. In the U.S., at least, debt is no four-letter word.

Cards 120

Cards US Lending National 120

American Banker

JULY 25, 2023

Evidence from the implementation of the 2009 CARD Act shows that warnings about higher interest rates and other unintended consequences don't square with reality.

Cards 53

Cards Policies Compliance Regulation 53

CFPB Monitor

OCTOBER 17, 2022

Last week, the CFPB released its eleventh annual report to Congress on college credit card agreements. The annual report is mandated by the CARD Act. The CARD Act requires mandatory reporting to the CFPB by card issuers on agreements with institutions of higher learning or certain affiliated organizations (such as alumni associations).

Cards 78

Cards Report Regulation FDIC 78

PYMNTS

AUGUST 11, 2016

A proposition back in 2011 to close a loophole that enables drug cartels to move large sums of money across boarders using prepaid cards has been delayed but is not dead. The proposed rule called for money stored on prepaid cards to count toward the requirement on the part of the U.S. In 2009, the U.S.

Cards 100

Cards Millennials Industry Tools 100

PYMNTS

MAY 2, 2016

Credit card businesses, by and large, were doing well, said the heavy hitters. Financial Times , parsing some of the commentary, recapped that Wells Fargo grew its credit card balances by 10 percent year over year, to the tune of $3.1 consumer still likes to spend and is likely to keep spending.

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Cards America Capital Trends 100

PYMNTS

DECEMBER 26, 2019

Another thing that’s bolstering the banking industry is almost record levels of credit card debt, according to The Washington Post. JPMorgan Chase and Citigroup both reported that credit card sales have increased by 10 percent and 5 percent, respectively, in the third quarter. I don’t remember the last time I used my debit card.”.

Cards 142

Cards Washington America Industry 142

PYMNTS

OCTOBER 8, 2020

Square was founded in 2009 in Silicon Valley and has offices in the United States, Canada, Japan, Australia, Ireland, Spain, and the U.K. Square said the pandemic has triggered a move to card payments. Comparatively, Square made $306 million in bitcoin revenue for Q1.

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Bitcoin cryptocurrency Virginia United States 289

PYMNTS

DECEMBER 20, 2018

According to Bloomberg’s analysis of student loan securitization data, the debt level is more than double the $675 billion in student loan debt back in June of 2009. LendingTree recently reported that based on holiday shopping and credit card spending, balances on credit cards will increase by around 5 percent through the end of the year.

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Analysis Cards Groups Data 161

PYMNTS

OCTOBER 21, 2020

For SMBs, what’s in the cards … are more card readers. Those latter two firms have been in the in-store POS market for quite some time (Square, for example, since 2009). Chase has also said that its new SMB offering will enable firms to take card payments within minutes. To that end, the banking giant J.P.

Marketing 306

Marketing Maine Cards Payments 306

FICO

FEBRUARY 28, 2019

Balance roll rates — overdue balances on UK cards that go from one 30-day cycle to the next without repayment — moved slightly higher in 2018. Our analysis of data from 11 card issuers across the UK shows the areas that warrant attention from card issuers. of cycle 1 balances rolling — were only exceeded in 2006 and 2009.

Cards 53

Cards Analysis Policies Strategy 53

CFPB Monitor

JANUARY 2, 2019

The CFPB has released its seventh annual report to Congress on college credit card agreements. The annual report is mandated by the CARD Act. The CARD Act requires mandatory reporting to the CFPB by card issuers on agreements with institutions of higher learning or certain affiliated organizations (such as alumni associations).

Cards 60

Cards Report Leadership Data 60

CFPB Monitor

SEPTEMBER 9, 2019

The CFPB’s fourth biennial report on the credit card market was issued at the end of August. The Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act) requires the CFPB to perform periodic market reviews. Physical point-of-sale. Risk management.

Cards 60

Cards Report Marketing Leadership 60

PYMNTS

FEBRUARY 11, 2020

Customers can then pay invoices immediately with a credit or debit card. Square is headquartered in San Francisco, California and was founded in 2009 by Jim McKelvey and Jack Dorsey. Small and medium-sized businesses (SMBs) using Xero can email invoices with the built-in Square payment functionality. and Ireland.

San Francisco 207

San Francisco Payments New York California 207

American Banker

JULY 27, 2020

The Illinois senator wants the Fed to investigate alleged anticompetitive practices in debit card transactions; reserves at western lenders are poised to hit their highest level since 2009.

Illinois 37

Illinois Cards 37

PYMNTS

MARCH 19, 2020

was formed in 2009 as a payment services provider to enable businesses to accept card payments. The headquarters will be in Salt Lake City, Utah. The Utah Department of Financial Institutions still has to issues approvals to the San Francisco-based FinTech. Square, Inc.

FDIC 276

FDIC Utah San Francisco Capital 276

PYMNTS

MARCH 18, 2020

The group injected malicious credit card-skimming malware on the blender maker’s payment pages and swiped personal details like card numbers, names, billing addresses, expiration dates and card verification numbers. RiskIQ was founded in 2009 by Brad Byrd, Chris Kiernan, David Pon and Elias Manousos.

San Francisco 140

San Francisco Groups Cards Security 140

PYMNTS

OCTOBER 19, 2020

The release says the mobile app will also come with a prepaid debit card that can be used anywhere. and comes with other benefits like off-cycle payments, patented checks and optional prepaid debit cards, allowing workers full access to their pay through those solutions. percent in 2009. percent in 2011, from 7.6 percent.

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FDIC Resources Cards Payments 140

Let's Talk Payments

JUNE 19, 2017

Square was started in 2009 to enable businesses to accept card payments, an important capability that was previously inaccessible to many businesses. Since then, Square has continued to expand its.

Cards 108

Cards Payments US Fintech 108

Bank Innovation

FEBRUARY 28, 2017

Bank Innovation today released a beta of its relaunch, the most significant rebuilding of the site since its start in 2009. Let us know what you think of the rebuilt site by emailing info@bankinnovation.net.

Innovation 150

Innovation US social media Operations 150

FICO

DECEMBER 4, 2019

Our latest review of UK card trends shows that 2-cycle balances continue to grow, which raises several concerns. In this post, I’ll review some of the metrics for UK “Classic” cardholders (excluding Premium and Student cards), break these down by vintage, and offer some thoughts on what issuers should do. . by Stacey West.

Trends 52

Trends Cards Customer Experience Regulation 52

PYMNTS

OCTOBER 21, 2019

The world of 2009 was starkly different, a far less optimistic place. Though the Great Recession was technically “over” by the middle of 2009, few people living in the real economy felt that fact in their daily lives. When people asked “what’s next?” in the year 1999, they were generally pretty excited to hear the answer.

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Innovation Payments Apple Mobile 131