INDUSTRY INSIGHTS YOUR PEERS ARE READING
The card solution acts as a digital voucher that employers can offer as an alternative to pre-paid cards for employees. The solution is already available in Germany, but the partnership means Wirecard will begin issuing the card across new markets in Europe. 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
In a press release , Regal said its agreement with Mastercard will allow banks to provide an integrated payables platform that supports virtual card payments. B2B Payments accounts payable B2B community bank corporate banking MasterCard News Regal Software virtual card What's Hot In B2B MORE
A new study has found that the number of payment cards issued globally reached 14 billion last year and is predicted to rise to 17 billion by 2022, boosted by an increase in overall debit card issuance. RBR , a strategic research and consulting firm, recently published its “Global Payment Cards Data and Forecasts to 2022” report. In China, for example, many consumers hold multiple cards for different purposes. MORE
Payability, a company focused on linking sellers on eCommerce platforms to financing options, is adding a corporate card product to its range of solutions. 13) that its Payability Seller Visa Card is now available to eCommerce sellers. Its corporate card solution links businesses to their payouts more quickly, enabling them to perform necessary growth tasks like inventory restocking to advertising faster than if they had to wait for their payouts. 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
Palmer did for their “P-card Benchmark Survey,” which surveyed purchasing card (p-card) program administrators about their firms’ commercial card adoption. per transaction when a p-card program is implemented. MORE
With fraud on the rise, credit card networks have realized that customer signatures are simply not a reliable way to authenticate someone’s identity — and some of the country’s largest retailers agree. According to The New York Times , four of the largest credit card networks — American Express, Discover, Mastercard and Visa — will no longer require signatures to complete transactions. Each card network is setting its own set of rules regarding signatures. MORE
Drilling down a bit, card loans were $147 billion, up 5 percent year on year to $147.9 Supplemental materials released by the company show that card spending – excluding commercial cards – was up 12 percent to $176 billion in terms of sales volume. MORE
16) that for the first time, contactless payments have become more popular than chip and pin card purchases when paying in-store in the U.K. The change occurred in June, when 51 percent of in-store card transactions were contactless. MORE
With payment bigwigs like Visa , Mastercard and American Express pushing further into the B2B payments space, commercial card adoption is being driven by more than growth in the number of card products available. This is one way that commercial card adoption may save a business money. MORE
Financial solutions provider Comdata is teaming up with Computer Guidance Corporation to integrate virtual card payment functionality for the construction industry. ” B2B Payments automation B2B construction News partnership vendor payments virtual cards What's Hot In B2B MORE
Discover is adding to its suite of commercial card products. Its newest offering, the Discover It Business credit card, was announced in a press release Wednesday (Sept. Additional features of the new card include Social Security alerts, which notify cardholders if Discover finds their Social Security numbers on “risky websites,” as well as free access to their FICO Credit Scores. MORE
The wallets of small business (SMB) owners are bulging with plastic, thanks in large part to the difficulty of securing funding, which leads to those merchants using their personal credit cards to meet expenses. To arrive at its findings, Nav “analyzed anonymized personal credit card usage data from 143,004 of its small business customers and 128,281 of its consumer customers. Business credit cards were excluded from the data.”. personal credit cards, which compares to 2.32 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
New research shows that more than one-third of fleet professionals would prefer a single card to make their business travel easier. The need for a payments solution to resolve the exasperation over expenses has never been more evident,” said Thore Vestergaard, SVP and MD of commercial cards at Allstar’s parent company, FLEETCOR , according to Fleet World. With that in mind, Allstar partnered last year with Visa to launch a fuel and travel expense card called Allstar Plus. 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
To better serve clients and help make their businesses run smoother and more efficiently, FinTech startups are tackling an array of challenges, from data security to card declines to clunky customer experiences. MORE
Commercial card startup Brex is seeking unicorn status with its next funding round, The Wall Street Journal ( WSJ ) reported Friday (Sept. Brex, founded by two Brazilian entrepreneurs, emerged on the market as a FinTech issuing corporate cards to other startups. Since its debut, Brex has expanded its services to include expense management software linked to those cards. Adoption of commercial cards for a variety of use cases is on the rise. MORE
American Express (Amex) and Amazon have teamed up to release a new commercial card product designed for small businesses (SMBs) buying on the Amazon platform. Announced today (Tuesday, June 26), the co-branded card for SMBs in the U.S. The card solution will include integrated spend management features, enabling small firms to gain insight into purchasing activity. The collaboration with American Express is Amazon’s first step into small business commercial cards. MORE
Payment cards could play a role in making somebody, or a group of people, insanely wealthy tonight via the $1.6 According to reports, 32 states allow consumers to use at least some combination of credit, debit and gift card to buy tickets for that lottery. MORE
24) a partnership to issue prepaid cards tailored to the Southeast Asian market. To overcome that, Grab, along with Mastercard, will issue virtual and physical prepaid cards directly from the Grab app. Grab will offer a physical prepaid card enabled both by NFC and EMV chip technology. MORE
Bank of America is adding mobile wallet functionality to its suite of commercial card products, the bank said Wednesday (Sept. In a press release , Bank of America said its corporate cards are now compatible with mobile wallets including Apple Pay, Google Pay and Samsung Pay, citing business travelers’ mobile payment needs as a stop motivation behind the initiative. That virtual card number is not stored and can only be used for that transaction. 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
14) that it is rolling out tap-to-pay functionality across its Chase Visa card portfolio, an initiative that will begin late this year and extend into 2019. said the rollout will be done on an ongoing basis, spanning when customers open up new accounts or have cards that are renewed. MORE
FinTech startup Plastiq has announced a $27 million venture capital funding round for its solution that lets businesses and consumers make payments with their payment cards, regardless of if cards are accepted. Plastiq allows businesses and consumers to pay Klarna with their credit cards, while Klarna will then pay their bills on the appropriate payment rail. The tool also helps companies pay bills that typically aren’t paid via cards, such as rental payments. MORE
ALDI , the grocery store operator, is being targeted by scammers who are installing credit card skimmers on top of point-of-sale terminals in plain sight. They’ve been installing camouflaged skimmers on ALDI credit card terminals right in front of surveillance cameras. Because the skimmers look exactly like legitimate credit card terminals, employees and customers alike have been tricked. MORE
The INVEX credit card business said on Monday (Oct. 22) that it has linked with Ondot , which focuses on mobile payments, to deliver what is being billed as the first instant digital credit card in Mexico. MORE
Against that backdrop, as reported by CNBC , credit card rates are eyeing (but are not at) record highs. Rates on credit card debt have crossed the 17 percent mark, as measured by annual percentage rates, and are up markedly from 16.1 MORE
Carlson Wagonlit Travel has debuted a study that shows that as many as 46 percent of American and European business travelers have said they used company cards to make personal transactions. Six in 10 corporate road warriors around the globe have corporate cards, said the data. 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
Bank ‘s Voyager fleet card tool. At the same time, fleet professionals using the card will also be able to see consolidated spend data across their retail and mobile refueling operations, as well as non-fuel purchases, for enhanced spend visibility. 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
Petal, the startup credit card company, announced on Tuesday (Oct. 2) that its credit card is now available via the company’s website. In a blog post , Petal said the company was established to help people build credit by providing a credit card with no fees, no “financial traps” and no prior experience with credit needed. Starter cards often come with high-interest rates, very low limits and lots of fees. 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
Employers are increasingly moving away from depositing paychecks into employees’ bank accounts, offering instead to add them to payroll cards. Payroll cards work like debit cards, allowing employees to purchase goods and services or make cash withdrawals from ATMs. 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
PNC Bank’s Treasury Management unit is testing a new solution to address card-not-present (CNP) fraud for commercial clients. 7) that it is piloting Dynamic CVV2 technology for commercial card customers. MORE
18) that showed increases in card member spending and a boost in lending activity. The company said in its release that total card member spending was up 8 percent, and 10 percent when adjusted for FX. In terms of loan activity, American Express said total card member loans were $77.6 MORE
The problem, Abramowitz noted, is that retail in the last decade has moved online and into multi-channel – and private-label cards have not really made the necessary transformation to keep pace. MORE
Fraudsters Prize Payment Via iTunes, Walmart Gift Cards. News Amazon china commerce news cvs Five at Five fraud gift cards payments news Pharmacy starbucks walmartWelcome to Five at Five, your late look at the day’s payments and commerce news. MORE
The suite includes Coupa Virtual Cards for Purchase Order, a solution that enables businesses to automatically generate one-time-use virtual cards for supplier payments that reconcile the transaction with purchase orders. MORE
What does the future hold for the plastic payment card? Or will cards with cutting-edge technology win more loyalty from shoppers? The payment card has “a long life ahead of it,” he told Karen Webster. Even if you consider technologies like mobile, you can see that the consumer is still paying with payment cards.”. Indeed, new payment regulations seem to be pushing payment cards toward the future. 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
Cards Related Topics 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
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
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 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
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
NOVEMBER 19, 2018
Palmer did for their “P-card Benchmark Survey,” which surveyed purchasing card (p-card) program administrators about their firms’ commercial card adoption. per transaction when a p-card program is implemented.
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
NOVEMBER 20, 2018
With payment bigwigs like Visa , Mastercard and American Express pushing further into the B2B payments space, commercial card adoption is being driven by more than growth in the number of card products available. This is one way that commercial card adoption may save a business money.
PYMNTS
NOVEMBER 14, 2018
14) that it is rolling out tap-to-pay functionality across its Chase Visa card portfolio, an initiative that will begin late this year and extend into 2019. said the rollout will be done on an ongoing basis, spanning when customers open up new accounts or have cards that are renewed.
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.
PYMNTS
NOVEMBER 8, 2018
PNC Bank’s Treasury Management unit is testing a new solution to address card-not-present (CNP) fraud for commercial clients. 7) that it is piloting Dynamic CVV2 technology for commercial card customers.
PYMNTS
NOVEMBER 20, 2018
FinTech startup Plastiq has announced a $27 million venture capital funding round for its solution that lets businesses and consumers make payments with their payment cards, regardless of if cards are accepted. Plastiq allows businesses and consumers to pay Klarna with their credit cards, while Klarna will then pay their bills on the appropriate payment rail. The tool also helps companies pay bills that typically aren’t paid via cards, such as rental payments.
PYMNTS
NOVEMBER 1, 2018
The card solution acts as a digital voucher that employers can offer as an alternative to pre-paid cards for employees. The solution is already available in Germany, but the partnership means Wirecard will begin issuing the card across new markets in Europe.
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
OCTOBER 22, 2018
The INVEX credit card business said on Monday (Oct. 22) that it has linked with Ondot , which focuses on mobile payments, to deliver what is being billed as the first instant digital credit card in Mexico.
PYMNTS
OCTOBER 23, 2018
Payment cards could play a role in making somebody, or a group of people, insanely wealthy tonight via the $1.6 According to reports, 32 states allow consumers to use at least some combination of credit, debit and gift card to buy tickets for that lottery.
PYMNTS
NOVEMBER 8, 2018
The suite includes Coupa Virtual Cards for Purchase Order, a solution that enables businesses to automatically generate one-time-use virtual cards for supplier payments that reconcile the transaction with purchase orders.
PYMNTS
NOVEMBER 13, 2018
Bank ‘s Voyager fleet card tool. At the same time, fleet professionals using the card will also be able to see consolidated spend data across their retail and mobile refueling operations, as well as non-fuel purchases, for enhanced spend visibility.
PYMNTS
SEPTEMBER 13, 2018
Bank of America is adding mobile wallet functionality to its suite of commercial card products, the bank said Wednesday (Sept. In a press release , Bank of America said its corporate cards are now compatible with mobile wallets including Apple Pay, Google Pay and Samsung Pay, citing business travelers’ mobile payment needs as a stop motivation behind the initiative. That virtual card number is not stored and can only be used for that transaction.
PYMNTS
OCTOBER 16, 2018
16) that for the first time, contactless payments have become more popular than chip and pin card purchases when paying in-store in the U.K. The change occurred in June, when 51 percent of in-store card transactions were contactless.
PYMNTS
OCTOBER 24, 2018
24) a partnership to issue prepaid cards tailored to the Southeast Asian market. To overcome that, Grab, along with Mastercard, will issue virtual and physical prepaid cards directly from the Grab app. Grab will offer a physical prepaid card enabled both by NFC and EMV chip technology.
PYMNTS
NOVEMBER 16, 2018
Financial solutions provider Comdata is teaming up with Computer Guidance Corporation to integrate virtual card payment functionality for the construction industry. ” B2B Payments automation B2B construction News partnership vendor payments virtual cards What's Hot In B2B
PYMNTS
OCTOBER 10, 2018
Against that backdrop, as reported by CNBC , credit card rates are eyeing (but are not at) record highs. Rates on credit card debt have crossed the 17 percent mark, as measured by annual percentage rates, and are up markedly from 16.1
PYMNTS
NOVEMBER 1, 2018
To better serve clients and help make their businesses run smoother and more efficiently, FinTech startups are tackling an array of challenges, from data security to card declines to clunky customer experiences.
PYMNTS
OCTOBER 19, 2018
18) that showed increases in card member spending and a boost in lending activity. The company said in its release that total card member spending was up 8 percent, and 10 percent when adjusted for FX. In terms of loan activity, American Express said total card member loans were $77.6
PYMNTS
OCTOBER 2, 2018
Petal, the startup credit card company, announced on Tuesday (Oct. 2) that its credit card is now available via the company’s website. In a blog post , Petal said the company was established to help people build credit by providing a credit card with no fees, no “financial traps” and no prior experience with credit needed. Starter cards often come with high-interest rates, very low limits and lots of fees.
PYMNTS
APRIL 10, 2018
With fraud on the rise, credit card networks have realized that customer signatures are simply not a reliable way to authenticate someone’s identity — and some of the country’s largest retailers agree. According to The New York Times , four of the largest credit card networks — American Express, Discover, Mastercard and Visa — will no longer require signatures to complete transactions. Each card network is setting its own set of rules regarding signatures.
PYMNTS
SEPTEMBER 24, 2018
Commercial card startup Brex is seeking unicorn status with its next funding round, The Wall Street Journal ( WSJ ) reported Friday (Sept. Brex, founded by two Brazilian entrepreneurs, emerged on the market as a FinTech issuing corporate cards to other startups. Since its debut, Brex has expanded its services to include expense management software linked to those cards. Adoption of commercial cards for a variety of use cases is on the rise.
PYMNTS
OCTOBER 5, 2018
The problem, Abramowitz noted, is that retail in the last decade has moved online and into multi-channel – and private-label cards have not really made the necessary transformation to keep pace.
PYMNTS
SEPTEMBER 13, 2018
Discover is adding to its suite of commercial card products. Its newest offering, the Discover It Business credit card, was announced in a press release Wednesday (Sept. Additional features of the new card include Social Security alerts, which notify cardholders if Discover finds their Social Security numbers on “risky websites,” as well as free access to their FICO Credit Scores.
PYMNTS
NOVEMBER 9, 2018
Carlson Wagonlit Travel has debuted a study that shows that as many as 46 percent of American and European business travelers have said they used company cards to make personal transactions. Six in 10 corporate road warriors around the globe have corporate cards, said the data.
PYMNTS
SEPTEMBER 8, 2017
A new study has found that the number of payment cards issued globally reached 14 billion last year and is predicted to rise to 17 billion by 2022, boosted by an increase in overall debit card issuance. RBR , a strategic research and consulting firm, recently published its “Global Payment Cards Data and Forecasts to 2022” report. In China, for example, many consumers hold multiple cards for different purposes.
PYMNTS
SEPTEMBER 24, 2018
New research shows that more than one-third of fleet professionals would prefer a single card to make their business travel easier. The need for a payments solution to resolve the exasperation over expenses has never been more evident,” said Thore Vestergaard, SVP and MD of commercial cards at Allstar’s parent company, FLEETCOR , according to Fleet World. With that in mind, Allstar partnered last year with Visa to launch a fuel and travel expense card called Allstar Plus.
PYMNTS
OCTOBER 10, 2018
In a press release , Regal said its agreement with Mastercard will allow banks to provide an integrated payables platform that supports virtual card payments. B2B Payments accounts payable B2B community bank corporate banking MasterCard News Regal Software virtual card What's Hot In B2B
PYMNTS
MAY 25, 2018
The wallets of small business (SMB) owners are bulging with plastic, thanks in large part to the difficulty of securing funding, which leads to those merchants using their personal credit cards to meet expenses. To arrive at its findings, Nav “analyzed anonymized personal credit card usage data from 143,004 of its small business customers and 128,281 of its consumer customers. Business credit cards were excluded from the data.”. personal credit cards, which compares to 2.32
PYMNTS
OCTOBER 12, 2018
Drilling down a bit, card loans were $147 billion, up 5 percent year on year to $147.9 Supplemental materials released by the company show that card spending – excluding commercial cards – was up 12 percent to $176 billion in terms of sales volume.
PYMNTS
JUNE 26, 2018
American Express (Amex) and Amazon have teamed up to release a new commercial card product designed for small businesses (SMBs) buying on the Amazon platform. Announced today (Tuesday, June 26), the co-branded card for SMBs in the U.S. The card solution will include integrated spend management features, enabling small firms to gain insight into purchasing activity. The collaboration with American Express is Amazon’s first step into small business commercial cards.
PYMNTS
SEPTEMBER 4, 2018
What does the future hold for the plastic payment card? Or will cards with cutting-edge technology win more loyalty from shoppers? The payment card has “a long life ahead of it,” he told Karen Webster. Even if you consider technologies like mobile, you can see that the consumer is still paying with payment cards.”. Indeed, new payment regulations seem to be pushing payment cards toward the future.
PYMNTS
SEPTEMBER 14, 2018
Payability, a company focused on linking sellers on eCommerce platforms to financing options, is adding a corporate card product to its range of solutions. 13) that its Payability Seller Visa Card is now available to eCommerce sellers. Its corporate card solution links businesses to their payouts more quickly, enabling them to perform necessary growth tasks like inventory restocking to advertising faster than if they had to wait for their payouts.
PYMNTS
OCTOBER 17, 2018
Fraudsters Prize Payment Via iTunes, Walmart Gift Cards. News Amazon china commerce news cvs Five at Five fraud gift cards payments news Pharmacy starbucks walmartWelcome to Five at Five, your late look at the day’s payments and commerce news.
PYMNTS
JULY 16, 2018
Employers are increasingly moving away from depositing paychecks into employees’ bank accounts, offering instead to add them to payroll cards. Payroll cards work like debit cards, allowing employees to purchase goods and services or make cash withdrawals from ATMs.
PYMNTS
FEBRUARY 8, 2018
ALDI , the grocery store operator, is being targeted by scammers who are installing credit card skimmers on top of point-of-sale terminals in plain sight. They’ve been installing camouflaged skimmers on ALDI credit card terminals right in front of surveillance cameras. Because the skimmers look exactly like legitimate credit card terminals, employees and customers alike have been tricked.
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