INDUSTRY INSIGHTS YOUR PEERS ARE READING
Sephora, the beauty retailer, announced on Thursday (March 14) the launch of a new credit card program. The credit cards will provide customers with more ways to earn rewards for their purchases, the retailer said in the release. MORE
Adoption of commercial cards in B2B payments has emerged as one of the hottest industry topics of the year thanks to new FinTech innovations and industry leaders like Visa and Mastercard making a push further into the market. MORE
Growth in the commercial card industry is being driven by more than the push for supplier acceptance in accounts receivable. An example of the conjunction of commercial card innovation and shifting corporate payment trends can be found in the evolving workforce. MORE
Fleet payments company FLEETCOR is facing criticism over fees associated with its fleet cards, according to reports in Bloomberg last week, which small businesses (SMBs) say are too high. There are also fees linked to paying card bills via wire transfer, and fees if the fleet cards go unused. MORE
Consumers are not only using their smartphones to text and talk, but to manage how they use their credit, debit and prepaid cards. Over a third of them used these services because they liked being able to receive text alerts when their cards had been declined. MORE
A new report has predicted that recurring transactions processed on debit and credit cards in the United States will reach $473 billion by 2021. She figured out what was going on when her debit card was declined at a coffee shop. MORE
However, there may be an opportunity to get more contactless cards into the hands of consumers — an opportunity that involves community banks and is backed by financial incentives. million payment cards, Giorgio said. She noted that, ever since EMV chip cards were introduced in the U.S., MORE
Singapore-based FinTech startup InstaReM , which enables banks and consumers to send money across borders , announced a partnership with First Data to assist businesses that issue corporate credit cards. MORE
18) that cardholder signatures will now be optional for the back of credit cards and receipts. only 40 percent of consumers sign the backs of their cards, while one-third of those who haven’t signed said they don’t see a reason to do so. MORE
Credit card debt in the U.S. Bloomberg , citing data from the Federal Reserve, reported credit card balances in the third quarter were $26 billion less. According to the report, there are close to 480 million credit cards being used by U.S. MORE
Commercial card company Brex is rolling out a new card product designed to meet the specific needs of eCommerce businesses, the firm said in a press release Tuesday (Feb. When Brex first launched its initial commercial card solution last year, the company targeted technology startups. MORE
Will the ban on the credit card surcharge automatically lead to significantly higher prices when consumers opt for the plastic (via card or digital wallets) at the pump, at the counter … or pretty much anywhere? In New York this month, credit card surcharges got the okay. MORE
In an effort to kill the check — where B2B payments are anything but efficient — might virtual cards be the answer? As ePayables have emerged as an option in the commercial realm, Yarbrough noted that a virtual card can solve problems for both buyers and suppliers. MORE
Apple and Goldman Sachs, through joint efforts, will issue a credit card that links with the iPhone, the Wall Street Journal reported on Thursday (Feb. The new card is aimed at helping consumers with money management, and bringing the companies into new areas of business. MORE
Merchants saw a drop in card-present fraud due to the increased adoption of Europay, Mastercard and Visa (EMV) chip cards, Visa said. The number of chip cards in the U.S. Now, 71 percent of Visa credit and debit cards have chips. MORE
22) that they are now working together to integrate JPMorgan’s Single-Use Accounts (SUA) virtual cards into the Coupa Virtual Cards for Purchase Orders offering, part of the Coupa Pay suite. JPMorgan is the second card issuer to join the Coupa Pay solution. MORE
Next week, shoppers at those 1,800 stores will be able to use contactless cards, as well as contactless mobile payments, via any one of the mobile wallet “Pays” — Apple , Google and Samsung. The trick is getting cards into people’s hands so they can start to use them. MORE
Merchants are facing a sizable number of card declines, which are stubbornly averaging at around 15 percent. The merchant is concerned about how reprocessing a transaction might impact their own relationship to the card network and to their processing partner. MORE
Supermarket firm Kroger has expanded its ban on accepting Visa credit cards, stating on Friday (March 1) that its Smith’s Food and Drug unit will stop offering that payment option beginning April 3. Kroger Pay can be linked to any major credit or debit card. MORE
First Data , a commerce-enabling technology and solutions company, announced Tuesday (March 19) the launch of Authorization Optimization, a digital commerce tool that optimizes card-on-file transactions to boost revenue for merchants. MORE
News also has come in the past few weeks that, as evidenced by bank earnings, credit card debt has been on the rise, as have write-offs and provisions for loan losses. She also stated that “maxing out your card essentially means you are overutilizing your credit.”. MORE
First Data’s 2018 Prepaid Consumer Insights Study found that the average consumer is spending $59 more than the original value of their gift card, marking an increase from $21 a year ago. MORE
The number of merchants accepting card payments around the world grew by 13 percent in 2017, to 69.2 RBR, a research and consulting firm for banking and retail, released a forecast of payment card data through 2023, and found that card payment acceptance is growing at a fast rate. MORE
To that end, Chase , the largest card issuer in the U.S., 14) that it’s rolling out tap-to-pay functionality across its Chase Visa card portfolio. Tapping the plastic card is much more familiar than some other form factors.”. How to speed the checkout process? MORE
China payment card issuer UnionPay is stepping into the market with prepaid cards for corporates and consumers, the company announced this week. 9) that payment service provider Moorwand , a principal member of UnionPay, will launch the first UnionPay prepaid cards in the U.K. MORE
17) the Square Card, a business debit Mastercard aimed at helping businesses manage cash flow. In a press release , the payments company said Square Card users get a 2.75 Users can also export Square Card transaction data into formats for accounting. MORE
card company interchange fees reached new levels earlier this year when the European Commission (EC) issued a $648.3 Supreme Court ruling in favor of the card networks during a case in 2017, and with Australia in the midst of pondering either swipe fee limits or an outright ban. MORE
A new report from the Federal Trade Commission (FTC) says that fraudsters are increasingly requesting to be paid with gift cards, with some even asking for certain brands such as Google Play and iTunes gift cards. They may even call iTunes cards ‘payment vouchers.’ MORE
Corporates across the Asia Pacific region are increasing their use of commercial card products, according to a new report from Citi. Businesses increased their spend on commercial cards by 24 percent in 2017, Citi’s analysis found. MORE
American Express has struck a new partnership in its latest B2B payments push, announcing a collaboration with commercial payments firm WEX to support corporate use of virtual cards in accounts payable. MORE
To push that goal, Mastercard — in partnership with the world’s three largest card manufacturers, Gemalto , Giesecke & Devrient and IDEMIA — has officially launched the Greener Payments Partnership to establish environmental best practices and reduce first-use PVC plastic in card manufacturing. Going green, historically, in cards has been linked to purchases, If the customer spends X amount in dollars, the card donates a set amount to an environmental cause. MORE
That potential arrangement stems from a class action suit that contended that that “Visa and Mastercard, separately, and together with certain banks, violated antitrust laws and caused merchants to pay excessive fees for accepting Visa and Mastercard credit and debit cards” per the notice. MORE
Credit card delinquency rate reports are trickling in on a bank-by-bank basis and a spate of recent disclosures show mixed results. Also showing declines, Alliance Data Systems said in its card services portfolio, February delinquency rates were 5.67 MORE
B2B payments solution provider Bill.com is partnering with Comdata to integrate virtual card payment functionality. 5) that Comdata will provide virtual card capabilities for the Bill.com platform, allowing businesses to pay their vendors via virtual cards. MORE
While commercial card innovation certainly accelerated in 2018, progress can always continue. Morgan Managing Director and Head of Commercial Card Product Management Naney Pandit says should be a focus this year is in mobilizing the corporate card. MORE
LINE Pay Corporation, operator of the popular payment app LINE Pay , announced that it is launching a LINE Pay co-brand credit card with Visa in Japan. Consumers can use LINE Pay through their smartphone screen, without having to present a physical credit card. “As MORE
New data has revealed that bank card default rates rose six basis points to 3.48 After seven-straight months of decline, bank card default rates have now increased for three consecutive months — a primary contributing factor to the increase in the composite default rate. MORE
Consumers are looking to their smartphones to manage their money with the help of mobile card services (MCS) in 2019. percent: Portion of MCS users without financial dependents who use MCS with their primary cards. MORE
The Reserve Bank of India has released guidelines for what it calls the “tokenization” of debit and credit card transactions, according to reports. Instead of the card’s details, the token will act as the card at point of sale (POS) terminals and quick response (QR) code payment systems. MORE
Today Venmo will be rolling out its latest card offering for consumers. We’ve seen tremendous adoption of the card, which allows users to pick a card color that best suits their personality and style,” Venmo noted in a press release about the rainbow cards. MORE
To counter fraud as the holiday season approaches, Best Buy , Target and Walmart made changes to their gift card programs. With the new policies, changes include lowering the transaction limits on the sale of store-branded gift cards. MORE
8) the launch of its new Business Gold Card, which comes with four times Membership Rewards points on the top two categories that the business spends the most on each month. American Express said card members can get up to 250,000 points back per calendar year with the benefit. MORE
Expense management company DiviPay is rolling out what it says is Australia’s first Mastercard virtual commercial card for corporate payers, and the first solution in the country that combines payments with expense management automation. MORE
Cards Related Topics PYMNTS
FEBRUARY 6, 2019
Fleet payments company FLEETCOR is facing criticism over fees associated with its fleet cards, according to reports in Bloomberg last week, which small businesses (SMBs) say are too high. There are also fees linked to paying card bills via wire transfer, and fees if the fleet cards go unused.
PYMNTS
MARCH 14, 2019
Sephora, the beauty retailer, announced on Thursday (March 14) the launch of a new credit card program. The credit cards will provide customers with more ways to earn rewards for their purchases, the retailer said in the release.
PYMNTS
DECEMBER 12, 2018
The number of merchants accepting card payments around the world grew by 13 percent in 2017, to 69.2 RBR, a research and consulting firm for banking and retail, released a forecast of payment card data through 2023, and found that card payment acceptance is growing at a fast rate.
PYMNTS
MARCH 1, 2019
Supermarket firm Kroger has expanded its ban on accepting Visa credit cards, stating on Friday (March 1) that its Smith’s Food and Drug unit will stop offering that payment option beginning April 3. Kroger Pay can be linked to any major credit or debit card.
PYMNTS
JANUARY 17, 2019
17) the Square Card, a business debit Mastercard aimed at helping businesses manage cash flow. In a press release , the payments company said Square Card users get a 2.75 Users can also export Square Card transaction data into formats for accounting.
PYMNTS
OCTOBER 26, 2018
Corporates across the Asia Pacific region are increasing their use of commercial card products, according to a new report from Citi. Businesses increased their spend on commercial cards by 24 percent in 2017, Citi’s analysis found.
PYMNTS
JANUARY 2, 2019
While commercial card innovation certainly accelerated in 2018, progress can always continue. Morgan Managing Director and Head of Commercial Card Product Management Naney Pandit says should be a focus this year is in mobilizing the corporate card.
PYMNTS
OCTOBER 26, 2018
To push that goal, Mastercard — in partnership with the world’s three largest card manufacturers, Gemalto , Giesecke & Devrient and IDEMIA — has officially launched the Greener Payments Partnership to establish environmental best practices and reduce first-use PVC plastic in card manufacturing. Going green, historically, in cards has been linked to purchases, If the customer spends X amount in dollars, the card donates a set amount to an environmental cause.
PYMNTS
FEBRUARY 27, 2019
card company interchange fees reached new levels earlier this year when the European Commission (EC) issued a $648.3 Supreme Court ruling in favor of the card networks during a case in 2017, and with Australia in the midst of pondering either swipe fee limits or an outright ban.
PYMNTS
JANUARY 8, 2019
The Reserve Bank of India has released guidelines for what it calls the “tokenization” of debit and credit card transactions, according to reports. Instead of the card’s details, the token will act as the card at point of sale (POS) terminals and quick response (QR) code payment systems.
PYMNTS
NOVEMBER 15, 2018
To that end, Chase , the largest card issuer in the U.S., 14) that it’s rolling out tap-to-pay functionality across its Chase Visa card portfolio. Tapping the plastic card is much more familiar than some other form factors.”. How to speed the checkout process?
PYMNTS
MARCH 22, 2019
Singapore-based FinTech startup InstaReM , which enables banks and consumers to send money across borders , announced a partnership with First Data to assist businesses that issue corporate credit cards.
PYMNTS
FEBRUARY 22, 2019
Today Venmo will be rolling out its latest card offering for consumers. We’ve seen tremendous adoption of the card, which allows users to pick a card color that best suits their personality and style,” Venmo noted in a press release about the rainbow cards.
PYMNTS
FEBRUARY 13, 2019
Merchants saw a drop in card-present fraud due to the increased adoption of Europay, Mastercard and Visa (EMV) chip cards, Visa said. The number of chip cards in the U.S. Now, 71 percent of Visa credit and debit cards have chips.
PYMNTS
MARCH 5, 2019
Credit card debt in the U.S. Bloomberg , citing data from the Federal Reserve, reported credit card balances in the third quarter were $26 billion less. According to the report, there are close to 480 million credit cards being used by U.S.
PYMNTS
NOVEMBER 26, 2018
Adoption of commercial cards in B2B payments has emerged as one of the hottest industry topics of the year thanks to new FinTech innovations and industry leaders like Visa and Mastercard making a push further into the market.
PYMNTS
FEBRUARY 25, 2019
Consumers are looking to their smartphones to manage their money with the help of mobile card services (MCS) in 2019. percent: Portion of MCS users without financial dependents who use MCS with their primary cards.
PYMNTS
DECEMBER 7, 2018
With commercial cards continuing to press their way into accounts payable, a new report from Accenture suggests it’s the virtual card driving adoption of card-based B2B payments.
PYMNTS
JANUARY 24, 2019
However, there may be an opportunity to get more contactless cards into the hands of consumers — an opportunity that involves community banks and is backed by financial incentives. million payment cards, Giorgio said. She noted that, ever since EMV chip cards were introduced in the U.S.,
PYMNTS
NOVEMBER 8, 2018
8) the launch of its new Business Gold Card, which comes with four times Membership Rewards points on the top two categories that the business spends the most on each month. American Express said card members can get up to 250,000 points back per calendar year with the benefit.
PYMNTS
FEBRUARY 22, 2019
Consumers are not only using their smartphones to text and talk, but to manage how they use their credit, debit and prepaid cards. Over a third of them used these services because they liked being able to receive text alerts when their cards had been declined.
PYMNTS
JANUARY 10, 2019
China payment card issuer UnionPay is stepping into the market with prepaid cards for corporates and consumers, the company announced this week. 9) that payment service provider Moorwand , a principal member of UnionPay, will launch the first UnionPay prepaid cards in the U.K.
PYMNTS
DECEMBER 20, 2018
Growth in the commercial card industry is being driven by more than the push for supplier acceptance in accounts receivable. An example of the conjunction of commercial card innovation and shifting corporate payment trends can be found in the evolving workforce.
PYMNTS
JANUARY 24, 2019
News also has come in the past few weeks that, as evidenced by bank earnings, credit card debt has been on the rise, as have write-offs and provisions for loan losses. She also stated that “maxing out your card essentially means you are overutilizing your credit.”.
PYMNTS
JANUARY 30, 2019
LINE Pay Corporation, operator of the popular payment app LINE Pay , announced that it is launching a LINE Pay co-brand credit card with Visa in Japan. Consumers can use LINE Pay through their smartphone screen, without having to present a physical credit card. “As
PYMNTS
NOVEMBER 30, 2018
Expense management company DiviPay is rolling out what it says is Australia’s first Mastercard virtual commercial card for corporate payers, and the first solution in the country that combines payments with expense management automation.
PYMNTS
JANUARY 23, 2019
22) that they are now working together to integrate JPMorgan’s Single-Use Accounts (SUA) virtual cards into the Coupa Virtual Cards for Purchase Orders offering, part of the Coupa Pay suite. JPMorgan is the second card issuer to join the Coupa Pay solution.
PYMNTS
MARCH 19, 2019
First Data , a commerce-enabling technology and solutions company, announced Tuesday (March 19) the launch of Authorization Optimization, a digital commerce tool that optimizes card-on-file transactions to boost revenue for merchants.
PYMNTS
SEPTEMBER 20, 2018
In an effort to kill the check — where B2B payments are anything but efficient — might virtual cards be the answer? As ePayables have emerged as an option in the commercial realm, Yarbrough noted that a virtual card can solve problems for both buyers and suppliers.
PYMNTS
FEBRUARY 21, 2019
Apple and Goldman Sachs, through joint efforts, will issue a credit card that links with the iPhone, the Wall Street Journal reported on Thursday (Feb. The new card is aimed at helping consumers with money management, and bringing the companies into new areas of business.
PYMNTS
NOVEMBER 21, 2018
A new report has predicted that recurring transactions processed on debit and credit cards in the United States will reach $473 billion by 2021. She figured out what was going on when her debit card was declined at a coffee shop.
PYMNTS
JANUARY 28, 2019
Will the ban on the credit card surcharge automatically lead to significantly higher prices when consumers opt for the plastic (via card or digital wallets) at the pump, at the counter … or pretty much anywhere? In New York this month, credit card surcharges got the okay.
PYMNTS
JANUARY 23, 2019
Next week, shoppers at those 1,800 stores will be able to use contactless cards, as well as contactless mobile payments, via any one of the mobile wallet “Pays” — Apple , Google and Samsung. The trick is getting cards into people’s hands so they can start to use them.
PYMNTS
MARCH 15, 2019
Credit card delinquency rate reports are trickling in on a bank-by-bank basis and a spate of recent disclosures show mixed results. Also showing declines, Alliance Data Systems said in its card services portfolio, February delinquency rates were 5.67
PYMNTS
NOVEMBER 23, 2018
To counter fraud as the holiday season approaches, Best Buy , Target and Walmart made changes to their gift card programs. With the new policies, changes include lowering the transaction limits on the sale of store-branded gift cards.
PYMNTS
MARCH 20, 2019
New data has revealed that bank card default rates rose six basis points to 3.48 After seven-straight months of decline, bank card default rates have now increased for three consecutive months — a primary contributing factor to the increase in the composite default rate.
PYMNTS
OCTOBER 16, 2018
Merchants are facing a sizable number of card declines, which are stubbornly averaging at around 15 percent. The merchant is concerned about how reprocessing a transaction might impact their own relationship to the card network and to their processing partner.
PYMNTS
DECEMBER 6, 2018
B2B payments solution provider Bill.com is partnering with Comdata to integrate virtual card payment functionality. 5) that Comdata will provide virtual card capabilities for the Bill.com platform, allowing businesses to pay their vendors via virtual cards.
PYMNTS
FEBRUARY 22, 2019
That potential arrangement stems from a class action suit that contended that that “Visa and Mastercard, separately, and together with certain banks, violated antitrust laws and caused merchants to pay excessive fees for accepting Visa and Mastercard credit and debit cards” per the notice.
PYMNTS
NOVEMBER 28, 2018
First Data’s 2018 Prepaid Consumer Insights Study found that the average consumer is spending $59 more than the original value of their gift card, marking an increase from $21 a year ago.
PYMNTS
NOVEMBER 6, 2018
American Express has struck a new partnership in its latest B2B payments push, announcing a collaboration with commercial payments firm WEX to support corporate use of virtual cards in accounts payable.
PYMNTS
OCTOBER 17, 2018
A new report from the Federal Trade Commission (FTC) says that fraudsters are increasingly requesting to be paid with gift cards, with some even asking for certain brands such as Google Play and iTunes gift cards. They may even call iTunes cards ‘payment vouchers.’
PYMNTS
OCTOBER 18, 2018
18) that cardholder signatures will now be optional for the back of credit cards and receipts. only 40 percent of consumers sign the backs of their cards, while one-third of those who haven’t signed said they don’t see a reason to do so.
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