PYMNTS

OCTOBER 18, 2020

score in July, according to the Journal, was 711 — up from 708 in April 2020 and 706 in July 2019. He added that deferment policies and government stimulus checks “are having a further effect of pushing out that stress for many people.”. 16 that retail sales in September exceeded those in August 2020 and September 2019.

Consumer 103

Consumer Push-to-Card Credit Cards Checks 103

PYMNTS

NOVEMBER 12, 2020

Wells Fargo & Co is seeking to sell its private-label credit card and point-of-sale (POS) financing unit as part of an ongoing strategic review of its businesses. Selling the private-label credit card unit would be a business reversal for the financial services group. percent in 2019 and its share of borrowings at 3.63

Credit Cards 114

Credit Cards Point-of-Sale (POS) Push-to-Card Debit Card 114

PYMNTS

DECEMBER 11, 2020

Mao, whose company provides solutions for payments, prepaid cards and gift cards, said the only way for merchants to go is forward, because going back isn’t an option. Mao, whose company provides solutions for payments, prepaid cards and gift cards, said the only way for merchants to go is forward, because going back isn’t an option.

Posting 116

Posting Push-to-Card Debit Card On-Demand 116

PYMNTS

JULY 20, 2020

small and medium-sized business (SMB)-focused bank Tide said it has a new relationship with Mastercard that makes Tide one of the card company’s principal issuers, Finextra reported Monday (July 20). In October 2019 the company raised $54 million. SMBs in 2019. Tide, which launched in 2016, has its headquarters is in London.

Visa 91

Visa Push-to-Card Card Issuer Issuers 91

Fintech News

MARCH 6, 2024

Are digital first banks in Asia poised to lead a disruptive charge against well-entrenched, established commercial banks? In the traditional banking sphere globally, but especially true in Asia, there is a considerable proportion of unbanked and underbanked populations who lack complete or any access to banking services.

Online and Mobile Banking 135

Online and Mobile Banking Debit Card Non-Bank Push-to-Card 135

The Fintech Times

MAY 22, 2024

In its Annual Fraud Report 2024 , UK Finance detailed the amount its members reported as stolen through payment fraud and scams, with a primary focus on authorised push payment (APP) fraud and unauthorised fraud. ” Unauthorised fraud losses Unauthorised fraud is when your card details are used by someone else without your permission.

Scams 59

Scams Finance Push-to-Card Romance Scams 59

PYMNTS

JUNE 16, 2020

Apple will now be allowing 0 percent interest on financing options for several of its products, including the Mac lineup, iPad, AirPods Pro, AirPods, Apple Pencil and others, when paid for via the Apple Card. The company also wants to push the purchase of multiple Apple items that can work together as part of a package.

Finance 69

Finance Push-to-Card Product Continuity 69

PYMNTS

JANUARY 25, 2021

According to Ossama Soliman , chief product officer at open banking provider TrueLayer , the very fact that there are so many payment options pushes new entrants to differentiate themselves from the pack. “But But actually, it raises the bar for what it takes to add a new payment method into the checkout.”. Click, Biometric, Done.

Instant Payments 120

Instant Payments Push-to-Card Payments Money Laundering 120

PYMNTS

SEPTEMBER 23, 2020

In today’s top payments news around the world, PayPal and Mastercard are adding more European Union (EU) countries to a debit card offering, while European Central Bank (ECB) President Christine Lagarde has called for a digital euro. PayPal, Mastercard Add 5 EU Countries To Debit Card Offering. Germany and the United Kingdom.

Debit Card 85

Debit Card PayPal Visa Push-to-Card 85

Fintech Finance

DECEMBER 13, 2023

billion) in 2019 to an estimated SGD19.8 The rapid rise in contactless card payments underpins this phenomenon with the number of contactless cards increasing from 27.7 million in 2019 to 39.3 million in 2023, and the annual value of card transactions estimated to exceed $107.3 million in 2019 to 39.3

Payments Institute 52

Payments Institute APACS Cross-Border Push-to-Card 52

PYMNTS

FEBRUARY 10, 2020

In the February Digital Identity Tracker , PYMNTS explores the latest developments in the world of digital IDs, including digital driver’s license initiatives around the country, biometric solutions for credit cards and the growing danger of fake profiles on social media. Biometrics are growing increasingly popular among credit card users.

Data Breach 94

Data Breach Point-of-Sale (POS) Push-to-Card Verification 94

PYMNTS

AUGUST 14, 2020

It looks like a race is shaping up to determine the future management of General Motors ’ credit card business. However, the Journal cited unnamed sources as saying that the London-based Barclays is also bidding for GM’s card business, while current issuer Capital One is unlikely to let the account go without a fight.

Push-to-Card 98

Push-to-Card Credit Cards Contactless Payments On-Demand 98

PYMNTS

SEPTEMBER 2, 2020

Adding the installment lending function to a bank card is suitable for all parties in the transaction,” said Brian Riley, director of the credit practice at Mercator Advisory Group , a Massachusetts consultant to the payments industry, in a statement.

Visa 88

Visa BNPL Push-to-Card Payments 88

PYMNTS

SEPTEMBER 28, 2020

NFCW.com reports the number of shoppers in Japan making these cell phone purchases at the point of sale is expected to reach 24 million by year’s end, up from 19 million in 2019, a 26 percent increase, encompassing more than 21 percent of the population, researchers found.

Mobile Payments 80

Mobile Payments Push-to-Card Payments Economy 80

PYMNTS

OCTOBER 7, 2020

Americans cut their credit card balances in August for the sixth consecutive month, the Federal Reserve System reported Wednesday (Oct. Revolving debt — mainly credit card debt — as reported by the central bank declined by $9.4 Economic forecasters surveyed by Bloomberg had, in the whole, predicted an increase in credit card spending.

Credit Cards 71

Credit Cards Federal Reserve Non-Bank Credit Union 71

PYMNTS

JANUARY 22, 2021

Global payments firm MoneyGram is advancing its Visa debit card deposit service across Europe in a partnership with Checkout.com and continued collaboration with Visa’s real-time push payments platform Visa Direct. In 2019, MoneyGram was the first company in the industry to enable cross-border transfers from the U.S.

P2P 107

P2P Cross-Border Real Time Payments Cross-Border Payments 107

PYMNTS

JANUARY 17, 2020

The move pushes Visa ever further away from cards and toward its goal of becoming, as management has often described it, a “network of networks.”. Global Blue handled 64 million transactions for 29 million international shoppers in the fiscal year ending March 2019. percent for the entirety of 2019. percent year on year.

Push-to-Card 53

Push-to-Card Payment APIs and Integration Credit Cards Payments 53

FICO

OCTOBER 20, 2020

The UK is home to the most sophisticated Authorized Push Payment (APP) scams in the world. In 2019, banks’ losses of £456 million nearly equaled the £470 million attributed to card not present (CNP) fraud. Now, in 2020, APP scams are expected to eclipse card fraud, fueled by niche schemes related to the COVID-19 pandemic.

Scams 52

Scams Push-to-Card Irrevocable Payment Irrevocability 52

PYMNTS

SEPTEMBER 9, 2020

The payments digitization push has ramped up for corporates in recent months, with growing corporate card adoption attributed to the pandemic, recent Mastercard data reveals. Lawmakers Eye Expanded Fleet Card Use. Fleet service cards act just like credit cards at a gas station," Rep. Lawmakers in the U.S.

Payment APIs and Integration 94

Payment APIs and Integration Commercial Card Push-to-Card Visa 94

FICO

JANUARY 22, 2021

But despite the COVID pandemic having effected massive changes in the ways consumers transact, credit card fraud is still a “thing,” and a big, ever-changing thing at that. Exactly how big credit card fraud is depends on where you look. Credit card fraud was the FTC’s second most-reported fraud type in 2019.

Credit Cards 52

Credit Cards FTC Push-to-Card Federal Trade Commission 52

PYMNTS

DECEMBER 16, 2020

million during the same period in 2019, per an announcement. Contribution margin per unit grew by 188 percent to $1,883 in Q3 of this year from $655 in Q3 2019. Amazon Expands Data-Driven Fashion Push. CarLotz Inc., a consignment-to-retail used vehicle marketplace, said Wednesday (Dec.

Push-to-Card 76

Push-to-Card AI Consumer Payments 76

PYMNTS

DECEMBER 23, 2019

Also, Softbank’s negotiations with Japan’s three top lenders are hindered by lending limits, and the FTC sues FleetCor over “hidden charges” on fuel cards. FTC Sues FleetCor Over ‘Hidden’ Charges On Fuel Cards. fuel payment card would help firms spend less on gas. Visa’s Bill Sheley On What’s Next For Push Payments.

FTC 52

FTC Federal Trade Commission Push-to-Card Cross-Border Payments 52

PYMNTS

DECEMBER 17, 2020

Account takeovers and shipping fraud increased by 347 percent and 391 percent, respectively, between 2018 and 2019, and the pandemic has only exacerbated these issues. Digital fraud is a long-running problem for merchants, retailers, banks and businesses of all types. Walgreens On Stopping Promotion Abuse Fraud Through Online Deals.

Fraud Prevention 102

Fraud Prevention Account Takeovers Phishing Push-to-Card 102

Stax

NOVEMBER 13, 2023

Since the first plastic credit card was issued by American Express in 1959 , payment tech progress has been growing exponentially. EMV chip card technology had a good two decades or so, beginning in the mid-’90s. Most modern card readers and payment terminals are NFC-equipped.

Contactless Payments 88

Contactless Payments Push-to-Card Encryption Online and Mobile Banking 88

PYMNTS

FEBRUARY 12, 2020

According to the 2019 edition of the FBI’s Internet Crime Report , last year was both a lucrative and diverse year for cybercriminals and scammers. billion (or slightly over half) of all losses tracked in 2019. As for the scams themselves, those varied widely both in terms of tactics and targets.

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

PYMNTS

JANUARY 15, 2021

A year ago, as 2019 was turning over into 2020, the distinction between card-present transactions and card-not present transactions was highly relevant in the world of commerce. Friction that digitization for the card space can overcome, if done correctly in line with consumer convenience and need.

Push-to-Card 94

Push-to-Card Issuers Payments Transactions 94

PYMNTS

SEPTEMBER 2, 2020

The Montreal-based payment technology company was valued at $2 billion at the close of 2019. The news service, citing a source, said the IPO is expected to push that valuation to more than $3 billion. Nuvei Corp. Canada’s largest private non-bank payment processor, filed for an initial public offering (IPO) in Canada Tuesday (Sept.

FinTech 91

FinTech Payments Push-to-Card Underwriting 91

PYMNTS

JANUARY 7, 2020

That unit will include the company’s online lending platform, Marcus , and credit card business, the latter of which is done through a joint venture with Apple. In the filing, known as an 8-K, Goldman said it would commence with the new reporting with its fourth quarter 2019 results. billion for the quarter that ended Sept.

Consumer 53

Consumer Push-to-Card Credit Cards Continuity 53

FICO

OCTOBER 20, 2020

FICO monitors the UK credit market using data reported by the UK’s leading credit card issuers through its FICO® Benchmark Reporting Service. Spend on UK cards continues to increase. Average spending on UK credit cards increased in August for the third consecutive month, up 6.9 percent in the same period in 2019.

Issuers 52

Issuers Credit Cards Push-to-Card Card Issuer 52

PYMNTS

JANUARY 7, 2020

That unit will include the company’s online lending platform, Marcus , and credit card business, the latter of which is done through a joint venture with Apple. In the filing, known as an 8-K, Goldman said it would commence with the new reporting with its fourth quarter 2019 results. billion for the quarter that ended Sept.

Consumer 52

Consumer Push-to-Card Credit Cards Continuity 52

PYMNTS

MARCH 12, 2020

And according to Jennifer Schroeder, executive vice president of product management at PULSE, prepaid and payroll cards are proving increasingly popular among forward-thinking employers. As has been reported, the platform can help issuers manage, or restrict, transactions across groups of compromised cards. The Security Angle.

Payroll 61

Payroll Issuers Debit Transaction Push-to-Card 61

PYMNTS

JUNE 17, 2020

The COVID-19 pandemic has bolstered mobile payments in India and primed them to overtake card payments in the not-too-distant, S&P Global Market Intelligence said this week in its 2020 India Mobile Payments Market Report. S&P’s analysis shows that Indian mobile-payment transactions grew 163 percent to $287 billion in 2019.

Mobile Payments 56

Mobile Payments Online and Mobile Banking Contactless Payments Payments 56

CB Insights

FEBRUARY 20, 2020

All told, they raised over $15B in 2019, in addition to forging new high-profile partnerships, spinning off new ventures, and evolving their products and strategies. GET THE 102-PAGE q4 2019 FINTECH TRENDS REPORT. Nearly 50% of 2019 funding was concentrated in 83 mega-rounds ($100M+) totaling $17.2B. Click to enlarge. .

FinTech 80

FinTech Debit Card Payment APIs and Integration Push-to-Card 80

PYMNTS

OCTOBER 20, 2020

That, according to the release, has the effect of avoiding credit card processing fees laid at the feet of the vendors. He said Stampli Direct Pay is “the opposite” of methods other companies use to “hold vendor information hostage" and push alternate payment methods for selfish reasons. Vendors are your partners, not your enemies.”.

Alternative Payment Methods 57

Alternative Payment Methods ACH Push-to-Card Credit Cards 57

PYMNTS

JUNE 17, 2020

The COVID-19 pandemic has bolstered mobile payments in India and primed them to overtake card payments in the not-too-distant, S&P Global Market Intelligence said this week in its 2020 India Mobile Payments Market Report. S&P’s analysis shows that Indian mobile-payment transactions grew 163 percent to $287 billion in 2019.

Mobile Payments 56

Mobile Payments Online and Mobile Banking Contactless Payments Payments 56

FICO

OCTOBER 20, 2020

The UK is home to the most sophisticated Authorized Push Payment (APP) scams in the world. In 2019, banks’ losses of £456 million nearly equaled the £470 million attributed to card not present (CNP) fraud. Now, in 2020, APP scams are expected to eclipse card fraud, fueled by niche schemes related to the COVID-19 pandemic.

Scams 40

Scams Push-to-Card Irrevocable Payment Irrevocability 40

PYMNTS

MARCH 18, 2019

In addition, dollar bills, C-notes and the like are surviving , despite a push for cashless payments. 130B: The total projected losses of retailers due to card-not-present fraud from 2019 to 2023. 130B: The total projected losses of retailers due to card-not-present fraud from 2019 to 2023. All this, Today In Data.

P2P 46

P2P Data Breach Push-to-Card Debit Card 46