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Goldman Sachs said it doled out about $10 billion in credit lines in just over month for the Apple -branded credit card, Bloomberg reported on Friday (Nov. According to regulatory filings made public this week, Apple Card? 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
Goldman Sachs said it doled out about $10 billion in credit lines in just over month for the Apple -branded credit card, Bloomberg reported on Friday (Nov. According to regulatory filings made public this week, Apple Card? MORE
Much of what commercial card innovators seek to address is a massive pain point for adoption: supplier acceptance. Such was the strategy of JPMorgan in its latest corporate card initiative. Check out the latest in corporate card innovation below. MORE
Verizon is partnering with financial firm Synchrony to put out its own consumer card in the first half of this year, they said on Thursday (Jan. T-Mobile recently started providing banking services through T-Mobile Money, and Amazon and Uber now both offer their own branded cards. MORE
To address a major pain point for the LGBTQIA+ community, Mastercard is introducing the True Name card. The product will allow for chosen names to appear on the front of the card, according to news from Mastercard. MORE
Grab is introducing Asia’s first numberless card in batches, with Singapore launching on Thursday (Dec. With the cashless card, GrabPay is striving to bring financial inclusion to the millions of underbanked and unbanked in Southeast Asia. . “As MORE
Among the biggest debates is how to construct and operate the best card program possible – a decision that served as the foundation for a new PYMNTS interview with Jim Geeslin, head of strategy for Elan Financial Services , an agent credit card issuer. MORE
So far, the young life of the Apple Card has turned out pretty — perhaps even spectacularly — good, depending on the source. The recent news about Apple Card includes a big thumbs-up from Goldman Sachs CEO David Solomon. Is a card an enabler for commerce or for Apple? MORE
Jack Henry & Associates has announced the launch of iPay CardPay, which enables its banks and credit unions “to provide near-real-time, card-funded bill payments using credit and debit cards as an alternative funding option,” according to a press release. MORE
The Apple Card, a credit card created in partnership by the technology company, was officially released in the U.S. Apple said the process only takes minutes and that customers can start using the card immediately. MORE
Apple has expanded the test phase of its credit card with Goldman Sachs to its retail employees, according to a report by Bloomberg. The card can be used directly from the iPhone, though there’s also a physical card available, too. MORE
CPI Card Group announced that it has launched Second Wave cards for markets including transit, hospitality, entertainment and more. Cards are a staple in a multitude of sectors, from transportation and travel to hospitality and entertainment. MORE
Though commercial card innovation has recently hit an acceleration point, there is still plenty of room for progress. Power took one key friction point of the small business (SMB) credit card market to task. Small Business Credit Card Satisfaction Study, businesses are twice as likely as consumers to switch credit card brands, with many small businesses serving “relatively low” scores for issuers’ rewards, benefits and services. MORE
Gift cards have largely gone digital with the rise of smartphones and tablets, and the eGift card market was valued at approximately $31.8 The value attached to the gift card market has made these items prime targets for fraudsters. Why Do Fraudsters Target Gift Cards? MORE
24) that showed card spending and loan growth up double-digit percentages, as measured year over year, in the fourth quarter. billion, boosted by card member spending and fees. Commercial service, where card member spending also grew, saw total net revenues grow by 7 percent to $3.5 MORE
Coinbase , the cryptocurrency exchange operator, announced Wednesday (April 10) the launch of the Coinbase Card in the U.K., which is a Visa debit card that lets customers in the U.K. Customers are able to use the card in millions of places around the world. MORE
I’ve been finding it increasingly frustrating on my travels, thanks to one of my credit card companies. My travelling depends on two credit cards: a bank issued corporate MasterCard and American Express. MORE
With the recent launch of the Apple Card , Apple has sent a signal that they seek to offer a better user experience than banks. In fact, their slogan for the card is “Created by Apple, Not a Bank?.” And the card is no longer just a payment instrument; it’s more than the card itself.”. MORE
Though credit cards were not originally designed to address the needs of corporate payers, advances in commercial card technology have positioned the payment tool as one that’s gaining traction in the accounts payable department. MORE
Mastercard is launching a new service designed to make it easier for B2B vendors to accept virtual cards. This offers an alternative to the traditional methods that virtual card payment information is submitted to a vendor, which often occurs via fax or email. MORE
Prepaid corporate card solution provider Soldo is teaming up with NatWest to connect joint business customers to small business loan solutions. ” Commercial cards continue to be a focus for NatWest. 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
Apple Card, a new kind of credit card created by Apple, is being applauded by Mastercard for its enhanced security, simplicity, transparency and privacy, CNBC reported on Tuesday (Aug. The new iPhone-integrated credit card has teamed with both Goldman Sachs and Mastercard. 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
Twelve years ago, LendingClub Founder Renaud Laplanche built a business to help consumers manage the $800 million in outstanding credit card debt. The Upgrade Card is tied to a line of credit that can be used everywhere that Visa cards are accepted. The Upgrade Card. MORE
billion chip-enabled consumer cards — credit and debit — are now in use across the world, according to EMVCo , the industry standard organization. Globally, more than 75 percent of all cards are now enabled with EMV chip technology. More than 8.2 MORE
Gambling Commission is banning the use of credit cards for placing bets, the BBC reported on Tuesday (Jan. Gambling Commission indicates that 22 percent of online gamblers who use credit cards to place bets are considered “problem gamblers.”. MORE
Commercial cards account for only a portion of corporates’ overall spend, as checks stick around and ACH gains ground. Yet, the issue of vendor card acceptance remains the often-cited hurdle hampering the commercial card from gaining deeper traction. MORE
And so a tech giant gets into the credit card game. And not just any tech giant – it’s Apple, the company whose payment services were touted (by at least some) as a credit card killer. For the physical card, the cash back rate is 1 percent. MORE
Commercial cards remain only a fraction of the B2B payments space, but FinTech firms, banks and other financial service providers continue to develop new solutions aimed at boosting adoption. Below, PYMNTS examines the latest in commercial card innovation, regulation and disruption. 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
Each quarter, Ryan Douglas from the Card Issuing group reports on recent developments for the US consumer credit card sector and compiles key metrics reported by the largest US banks (spend, receivables, loss rates and returns). MORE
Amazon has added a secured credit card to its suite of financial services offerings today, the latest effort to entice underbanked and low-income customers to shop with the e-tailing giant. 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
Visa announced that since their inception, chip cards have reduced counterfeit fraud by 87 percent. . Chip cards are increasingly becoming the norm as usage and acceptance has continued to grow since the EMV standard was first introduced in 2011,” the company said. MORE
Bank of America (BofA) announced on Tuesday (June 25) that it’s launching a digital debit card, according to a release by the company. This digital debit card has the same protections and benefits of a physical debit card and is immediately available to use in the mobile app. MORE
Even as the economy in the United States softens, Citigroup has been making a push for credit cards. Customers can transfer their debt from a competitor’s card onto Citi’s plastic for a small charge and not pay any interest for 21 months. MORE
And so a tech giant gets into the credit card game. And not just any tech giant – it’s Apple, the company whose payment services were touted (by at least some) as a credit card killer. For the physical card, the cash back rate is 1 percent. MORE
Dutch global payments platform Adyen announced it is launching card-issuing services to its customers. Adyen Issuing will enable clients to provide customers with virtual and/or physical cards that can be used online, in-app or in-store. MORE
The partnership starts with the SoFi Money debit card, an offering that will exist exclusively on the Mastercard network. SoFi’s card will provide an additional way for customers to spend with their SoFi Money cash management accounts. MORE
When the commercial card first came on the scene, executives thought of the payment tool in limited terms: a piece of plastic their employees could use to make one-off purchases at the office supply or hardware store, buy a coffee while on a business trip or take a client out to dinner. MORE
Commercial and consumer cards issued in the U.S. Commercial card spending is up 11.7 percent, compared to consumer card spending, which grew by 10.1 Commercial card spending was $1.39 Consumer card spending was $4.74 Visa ’s commercial card was 43.2 MORE
Chase and United Airlines are teaming up to launch a new United Business Card, offering 100,000 bonus miles for first-time users, the companies announced Thursday (Jan. The card is intended to assist business travelers in building their miles. MORE
Cards Related Topics Chris Skinner
JUNE 5, 2019
I’ve been finding it increasingly frustrating on my travels, thanks to one of my credit card companies. My travelling depends on two credit cards: a bank issued corporate MasterCard and American Express.
PYMNTS
DECEMBER 5, 2019
Grab is introducing Asia’s first numberless card in batches, with Singapore launching on Thursday (Dec. With the cashless card, GrabPay is striving to bring financial inclusion to the millions of underbanked and unbanked in Southeast Asia. . “As
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PYMNTS
NOVEMBER 20, 2019
Much of what commercial card innovators seek to address is a massive pain point for adoption: supplier acceptance. Such was the strategy of JPMorgan in its latest corporate card initiative. Check out the latest in corporate card innovation below.
PYMNTS
MARCH 25, 2019
And so a tech giant gets into the credit card game. And not just any tech giant – it’s Apple, the company whose payment services were touted (by at least some) as a credit card killer. For the physical card, the cash back rate is 1 percent.
PYMNTS
OCTOBER 10, 2019
Twelve years ago, LendingClub Founder Renaud Laplanche built a business to help consumers manage the $800 million in outstanding credit card debt. The Upgrade Card is tied to a line of credit that can be used everywhere that Visa cards are accepted. The Upgrade Card.
PYMNTS
JANUARY 22, 2020
Commercial cards remain only a fraction of the B2B payments space, but FinTech firms, banks and other financial service providers continue to develop new solutions aimed at boosting adoption. Below, PYMNTS examines the latest in commercial card innovation, regulation and disruption.
PYMNTS
AUGUST 20, 2019
The Apple Card, a credit card created in partnership by the technology company, was officially released in the U.S. Apple said the process only takes minutes and that customers can start using the card immediately.
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
JUNE 20, 2019
Commercial cards account for only a portion of corporates’ overall spend, as checks stick around and ACH gains ground. Yet, the issue of vendor card acceptance remains the often-cited hurdle hampering the commercial card from gaining deeper traction.
PYMNTS
DECEMBER 4, 2019
Jack Henry & Associates has announced the launch of iPay CardPay, which enables its banks and credit unions “to provide near-real-time, card-funded bill payments using credit and debit cards as an alternative funding option,” according to a press release.
PYMNTS
JANUARY 23, 2020
The partnership starts with the SoFi Money debit card, an offering that will exist exclusively on the Mastercard network. SoFi’s card will provide an additional way for customers to spend with their SoFi Money cash management accounts.
PYMNTS
NOVEMBER 19, 2019
Among the biggest debates is how to construct and operate the best card program possible – a decision that served as the foundation for a new PYMNTS interview with Jim Geeslin, head of strategy for Elan Financial Services , an agent credit card issuer.
PYMNTS
OCTOBER 4, 2019
With the recent launch of the Apple Card , Apple has sent a signal that they seek to offer a better user experience than banks. In fact, their slogan for the card is “Created by Apple, Not a Bank?.” And the card is no longer just a payment instrument; it’s more than the card itself.”.
PYMNTS
JANUARY 22, 2020
billion chip-enabled consumer cards — credit and debit — are now in use across the world, according to EMVCo , the industry standard organization. Globally, more than 75 percent of all cards are now enabled with EMV chip technology. More than 8.2
PYMNTS
NOVEMBER 15, 2019
When the commercial card first came on the scene, executives thought of the payment tool in limited terms: a piece of plastic their employees could use to make one-off purchases at the office supply or hardware store, buy a coffee while on a business trip or take a client out to dinner.
PYMNTS
JUNE 25, 2019
Bank of America (BofA) announced on Tuesday (June 25) that it’s launching a digital debit card, according to a release by the company. This digital debit card has the same protections and benefits of a physical debit card and is immediately available to use in the mobile app.
PYMNTS
OCTOBER 24, 2019
So far, the young life of the Apple Card has turned out pretty — perhaps even spectacularly — good, depending on the source. The recent news about Apple Card includes a big thumbs-up from Goldman Sachs CEO David Solomon. Is a card an enabler for commerce or for Apple?
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
JUNE 20, 2019
Apple has expanded the test phase of its credit card with Goldman Sachs to its retail employees, according to a report by Bloomberg. The card can be used directly from the iPhone, though there’s also a physical card available, too.
PYMNTS
NOVEMBER 15, 2019
Though credit cards were not originally designed to address the needs of corporate payers, advances in commercial card technology have positioned the payment tool as one that’s gaining traction in the accounts payable department.
PYMNTS
AUGUST 20, 2019
Apple Card, a new kind of credit card created by Apple, is being applauded by Mastercard for its enhanced security, simplicity, transparency and privacy, CNBC reported on Tuesday (Aug. The new iPhone-integrated credit card has teamed with both Goldman Sachs and Mastercard.
Accenture
DECEMBER 10, 2019
Each quarter, Ryan Douglas from the Card Issuing group reports on recent developments for the US consumer credit card sector and compiles key metrics reported by the largest US banks (spend, receivables, loss rates and returns).
PYMNTS
JANUARY 23, 2020
Chase and United Airlines are teaming up to launch a new United Business Card, offering 100,000 bonus miles for first-time users, the companies announced Thursday (Jan. The card is intended to assist business travelers in building their miles.
PYMNTS
OCTOBER 28, 2019
CPI Card Group announced that it has launched Second Wave cards for markets including transit, hospitality, entertainment and more. Cards are a staple in a multitude of sectors, from transportation and travel to hospitality and entertainment.
PYMNTS
MARCH 25, 2019
And so a tech giant gets into the credit card game. And not just any tech giant – it’s Apple, the company whose payment services were touted (by at least some) as a credit card killer. For the physical card, the cash back rate is 1 percent.
PYMNTS
SEPTEMBER 5, 2019
Commercial and consumer cards issued in the U.S. Commercial card spending is up 11.7 percent, compared to consumer card spending, which grew by 10.1 Commercial card spending was $1.39 Consumer card spending was $4.74 Visa ’s commercial card was 43.2
PYMNTS
SEPTEMBER 4, 2019
Visa announced that since their inception, chip cards have reduced counterfeit fraud by 87 percent. . Chip cards are increasingly becoming the norm as usage and acceptance has continued to grow since the EMV standard was first introduced in 2011,” the company said.
PYMNTS
JANUARY 14, 2020
Gambling Commission is banning the use of credit cards for placing bets, the BBC reported on Tuesday (Jan. Gambling Commission indicates that 22 percent of online gamblers who use credit cards to place bets are considered “problem gamblers.”.
PYMNTS
JANUARY 24, 2020
Verizon is partnering with financial firm Synchrony to put out its own consumer card in the first half of this year, they said on Thursday (Jan. T-Mobile recently started providing banking services through T-Mobile Money, and Amazon and Uber now both offer their own branded cards.
PYMNTS
NOVEMBER 22, 2019
Gift cards have largely gone digital with the rise of smartphones and tablets, and the eGift card market was valued at approximately $31.8 The value attached to the gift card market has made these items prime targets for fraudsters. Why Do Fraudsters Target Gift Cards?
PYMNTS
SEPTEMBER 6, 2019
Even as the economy in the United States softens, Citigroup has been making a push for credit cards. Customers can transfer their debt from a competitor’s card onto Citi’s plastic for a small charge and not pay any interest for 21 months.
PYMNTS
NOVEMBER 15, 2019
Dutch global payments platform Adyen announced it is launching card-issuing services to its customers. Adyen Issuing will enable clients to provide customers with virtual and/or physical cards that can be used online, in-app or in-store.
PYMNTS
JANUARY 16, 2020
Prepaid corporate card solution provider Soldo is teaming up with NatWest to connect joint business customers to small business loan solutions. ” Commercial cards continue to be a focus for NatWest.
PYMNTS
APRIL 11, 2019
Coinbase , the cryptocurrency exchange operator, announced Wednesday (April 10) the launch of the Coinbase Card in the U.K., which is a Visa debit card that lets customers in the U.K. Customers are able to use the card in millions of places around the world.
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
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?
Bank Innovation
JUNE 10, 2019
Amazon has added a secured credit card to its suite of financial services offerings today, the latest effort to entice underbanked and low-income customers to shop with the e-tailing giant.
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
NOVEMBER 3, 2019
Goldman Sachs said it doled out about $10 billion in credit lines in just over month for the Apple -branded credit card, Bloomberg reported on Friday (Nov. According to regulatory filings made public this week, Apple Card?
PYMNTS
NOVEMBER 3, 2019
Goldman Sachs said it doled out about $10 billion in credit lines in just over month for the Apple -branded credit card, Bloomberg reported on Friday (Nov. According to regulatory filings made public this week, Apple Card?
PYMNTS
DECEMBER 3, 2019
Though commercial card innovation has recently hit an acceleration point, there is still plenty of room for progress. Power took one key friction point of the small business (SMB) credit card market to task. Small Business Credit Card Satisfaction Study, businesses are twice as likely as consumers to switch credit card brands, with many small businesses serving “relatively low” scores for issuers’ rewards, benefits and services.
PYMNTS
JANUARY 24, 2020
24) that showed card spending and loan growth up double-digit percentages, as measured year over year, in the fourth quarter. billion, boosted by card member spending and fees. Commercial service, where card member spending also grew, saw total net revenues grow by 7 percent to $3.5
PYMNTS
JULY 10, 2019
Mastercard is launching a new service designed to make it easier for B2B vendors to accept virtual cards. This offers an alternative to the traditional methods that virtual card payment information is submitted to a vendor, which often occurs via fax or email.
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