Card Payment Use Rises Globally

PYMNTS

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.

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RBI Releases Guidelines For Electronic Card Payments

PYMNTS

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.

In 2019, Mobilize The Commercial Card: JPMorgan

PYMNTS

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.

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UnionPay Steps Into UK With Prepaid Corporate Cards

PYMNTS

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.

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Asia Corporates Replacing ACH With Cards, Citi Finds

PYMNTS

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.

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Chase Card Services President On Why It’s Time For Cards To Tap And Go

PYMNTS

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?

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Mastercard Tackles ‘Greening’ Plastic Cards

PYMNTS

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.

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Plastiq Talks Commercial Cards, ePayment Trends

PYMNTS

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.

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Virtual Cards See Opportunity In Freelancers, Open Banking

PYMNTS

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.

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American Express Launches New Business Gold Card

PYMNTS

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.

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Australia Gets First Virtual Commercial Cards Via Mastercard, DiviPay

PYMNTS

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.

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Recurring Card Payments To Hit $473B By 2021

PYMNTS

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.

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Can Virtual Cards Void Checks’ Feeble Future?

PYMNTS

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.

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Major Retailers Brace For Gift Card Fraud

PYMNTS

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.

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Wells Fargo Credit Card POS Purchases Grow 5pct in Q3

PYMNTS

Wells Fargo also reported single-digital gains in credit and debit cards. The bank also reported general purpose credit card point-of-sale purchase volume of $20.2 Debit card point-of-sale purchase volume, meanwhile, reached $89.8 Credit card loans increased $1.2

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Bill.com Adds Virtual Card Payments Via Comdata

PYMNTS

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.

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Fed: Card Payments Up 10.1 Pct In 2017

PYMNTS

Among the numbers was the fact that the number of card payments were up 10.1 That card payment data, according to the Fed, includes credit cards, debit cards and prepaid debit cards. Within that mix, prepaid debit cards were up 10.5

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Consumers Spending More Than Original Value On Their Gift Cards

PYMNTS

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.

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Taking On Card Declines With Interoperability

PYMNTS

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.

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LendUp Credit Card Business Becomes Stand-Alone Company

PYMNTS

LendUp has announced it is scaling its credit card business as a stand-alone company, Mission Lane. The newly-created Mission Lane will handle credit cards, including that business line’s card portfolio, IP and technology platform.

American Express V-Cards Now Available In WEX AP Platform

PYMNTS

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.

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Fraudsters Prize Payment Via iTunes, Walmart Gift Cards

PYMNTS

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.’

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Mastercard Will No Longer Require Signatures On Cards, Receipts

PYMNTS

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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Credit Card Surcharges OK’ed In New York

PYMNTS

In the wake of court filings this week that effectively ended a challenge to surcharges on credit card transactions in New York, merchants in the Empire State can indeed embrace those fees, contingent upon stating those costs to consumers up front. The merchants were allowed to offer discounts for cash payments on goods and services, but could not let customers know how much they would pay for credit card transactions, and the suit challenged the ban on First Amendment grounds.

P-Cards Not Reaching Their Full Procurement Potential

PYMNTS

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.

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Wirecard, Spendit Expand Employee Card Reach Across Europe

PYMNTS

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.

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Mastercard, Obopay Launch Corporate Prepaid Card In India

PYMNTS

Mastercard is teaming up with mobile payments firm Obopay to introduce a prepaid card for corporates in India. 10) that Mastercard, Obopay and Federal Bank are collaborating on the prepaid card solution that enables corporate managers to gain greater control of their payments and expenses.

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Chase Rolls Out Tap-to-Pay Visa Credit Cards

PYMNTS

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.

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How AP Can Tip The Scales In Favor Of Virtual Cards

PYMNTS

Even when technologies come close to addressing multiple challenges that exist today when sending, receiving and reconciling B2B payments, those benefits typically come with a cost — whether it be the interchange fees of cards or the burden of replacing legacy infrastructure.

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PNC Bank Tests CNP Fraud Solution For Commercial Cards

PYMNTS

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.

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Finexio Tackles Supplier Card Non-Acceptance With CredX

PYMNTS

B2B payments company Finexio is adding support for corporates that want to pay their suppliers with a credit card, regardless of whether vendors accept cards as a form of payment. Companies can pay using Mastercard or Visa credit cards, Finexio noted.

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BofA Links Corporate Cards To Mobile Wallets

PYMNTS

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.

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Wells Fargo Credit Card POS Purchases Grow 5 Pct In Q4

PYMNTS

Wells Fargo also reported single-digit gains in credit and debit cards. The bank also reported general purpose credit card point-of-sale (POS) purchase volume of $20.2 Debit card POS purchase volume, meanwhile, reached $89.8 Credit card loans increased $1.2 A U.S.

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Neiman Marcus Agrees To Pay $1.5M To Settle Payment Card Breach

PYMNTS

8) that his office, as well as 42 other state attorney generals, have settled with Neiman Marcus over a 2013 breach of customer payment card data at 77 of the retailer’s stores. The Maryland Attorney General Brian Frosh announced Tuesday (Jan.

How Vendors Can Lower The Cost (And Risks) Of Card Acceptance

PYMNTS

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.

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Mega Millions Winning Ticket Could Come Via Payment Card Tonight

PYMNTS

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.

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Worldpay Finds Contactless Payments Surpass Chip, Pin Card Purchases

PYMNTS

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.

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INVEX Links With Ondot On Instant Digital Credit Card In Mexico

PYMNTS

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.

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Card Use Grows Fast as Check Payments, ATM Withdrawals Continue Decline

Bank Innovation

Card payments increased 10.1% Cards Daily Post 1 DataBank Payments Premium ATMs card payments credit cards debit cards electronic payments EMV chip Federal Reserve

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Retailers Ready To Drop Credit Card Signatures

PYMNTS

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.

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USA Remote Card Fraud Trends

Mobile Payments Today

In USA card fraud is shifting from in-person fraud to remote fraud. View our latest infographic

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Podcast episode 14: Switch CEO discusses automating payment card data

Mobile Payments Today

Host David Jones, discusses automating payment card data, and how it protects cardholders and merchants with Switch CEO, Chris Hopen

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Amex Adds WeWork, Dell Benefits For Business Card Members

PYMNTS

American Express (Amex) is introducing new features and benefits for its Business Platinum Card members, the company announced Monday (Dec. The addition of new benefits coincides with an increase in annual membership fees for the card, American Express said.

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