Fleet Cards Caught In Crosshairs Of Corporate Card Fee Debate

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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.

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Sephora Launches Its First Credit Card

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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.

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Card Payment Use Rises Globally

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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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Kroger Widens Ban On Visa Credit Cards

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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.

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Square Launches Free Business Debit Card

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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.

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Asia Corporates Replacing ACH With Cards, Citi Finds

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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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In 2019, Mobilize The Commercial Card: JPMorgan

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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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Mastercard Tackles ‘Greening’ Plastic Cards

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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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UK Retailers Press For Commercial Card Interchange Fee Caps

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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.

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RBI Releases Guidelines For Electronic Card Payments

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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.

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

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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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First Data, InstaReM Pair On Corporate Card Issuance

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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.

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Venmo Debuts Limited Edition Rainbow Card

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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.

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Visa: EMV Cuts Card-Present Counterfeit Fraud By 80 Pct

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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.

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Credit Card Debt Ends Year At Record High

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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.

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Plastiq Talks Commercial Cards, ePayment Trends

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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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Mobile Card Services In Consumers’ Daily Lives

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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.

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Commercial Card Growth Led By V-Cards, Says Accenture

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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.

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Giving Community Banks The Contactless Card Boost

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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.,

American Express Launches New Business Gold Card

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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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Where Consumers Turn To Personalize Their Card Spending Experiences

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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.

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UnionPay Steps Into UK With Prepaid Corporate Cards

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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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Virtual Cards See Opportunity In Freelancers, Open Banking

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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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As Credit Card Debt Grows, More Americans Inch Toward Maxing Out Cards

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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.”.

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Visa, Digital Wallet LINE Debut Credit Card

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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

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Australia Gets First Virtual Commercial Cards Via Mastercard, DiviPay

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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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JPMorgan To Issue Virtual Cards In Coupa Pay

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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.

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First Data Launches Tool To Help Merchants Boost Card-On-File Sales

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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.

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Can Virtual Cards Void Checks’ Feeble Future?

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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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Apple, Goldman Pair On Credit Card For iPhone

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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.

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Recurring Card Payments To Hit $473B By 2021

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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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CardX CEO: Ban On Card Surcharge Ban May Lead to Lower Interchange Fees

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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.

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Visa: Why Target’s Tap-And-Pay Leap Will Ignite Contactless Cards

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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.

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Mixed Performance For Bank Credit Card Delinquencies In February

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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

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Major Retailers Brace For Gift Card Fraud

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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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Experian: Bank Card Default Rates Rise 3.48 Pct In Feb

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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.

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Taking On Card Declines With Interoperability

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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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Bill.com Adds Virtual Card Payments Via Comdata

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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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Visa, Mastercard, Banks Agree To $5.54-$6.24B Settlement In Card Fee Lawsuit

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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.

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Consumers Spending More Than Original Value On Their Gift Cards

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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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American Express V-Cards Now Available In WEX AP Platform

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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

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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

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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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