Rakuten eCommerce Adds Diners Club and JCB Credit Cards via Wirecard

Germany’s Rakuten Deutschland, the eponymous e-commerce platform, is gearing-up to add new payment methods via Wirecard. Rakuten Deutschland is a subsidiary of the Japanese platform Rakuten and is a shop software for merchants and a marketplace for end customers in a single solution which also handles payment processing. More than 7,000 suppliers currently use the…

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Visa Mastercard CIF Up 8% YOY Driven by Costco Card Conversions

U.S. cards-in-force (CIF) for Visa and Mastercard payment cards (credit & debit) increased 7.8% year-on-year (YOY) in the third quarter (3Q/16), according to CardData.com. U.S. credit cards increased 11.2% YOY while CIF for debit cards rose 5.1% YOY, in 3Q/16. There are were 1249 million Visa and Mastercard payment cards in circulation in the U.S.…

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AmEx USCS P&L Plummets in the Wake of Costco & JetBlue Losses

The impact of the loss of the U.S. Costco and JetBlue programs continues to manifest itself in the American Express (AmEx) U.S. Card Services (USCS) unit during the third quarter (3Q/16). Revenue and income declined significantly year-on-year (YOY) as outstandings (OUT) also took a big hit, all by double-digits, according to CardData. AmEx reported 3Q/16…

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In-Vehicle Payment Tech Roars Along with AI, 3D, VR Tech at 2017 CES

Honda and Visa have joined hands to demo in-vehicle payments with Gilbarco and IPS Group at this year’s CES. The demonstrations will be done with fuel pumps from Gilbarco Veeder-Root and smart parking meters from IPS Group.   Developed by the Honda Developer Studio, the fuel and parking proof-of-concepts offer a quick and seamless in-vehicle…

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Payfone Lands More Investment as TNS Joins AXP in Latest Funding Round

Payfone, a specialist in mobile identity authentication for digital channels, has nailed another funding round of $23.5 million. Among new investors is Transaction Network Services. American Express Ventures remains an initial investor. BlueCross BlueShield Venture Partners and Andrew Prozes led the round with new investors Strauss Zelnick, Maclab Development Group and Transaction Network Services, and with participation from current investors…

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UBA Masterpass QR MSME Merchant App to Alter African Payment Landscape

United Bank Africa (UBA) introduced its first merchant-focused app in Africa with the aim of creating a SMART (secure, mobile, accessible, reliable, transparent) network of 100,000 micro merchants and driving financial inclusion. The merchant app will include Masterpass QR, a mobile payment solution powered by Mastercard, and is immediately available for download to any feature…

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Visa Sets U.S. PDV YOY Record as GAC/CIF YOY Hovers Near 10%

Visa’s U.S. payment card (credit+debit) purchase dollar volume (PDV), for the third quarter (3Q/16), logged its highest year-on-year (YOY) gain in more than three year. Even though the big Visa issuers struggle with stagnant growth in accounts (GAC) and cards-in-force (CIF), Visa continues to hover near double-digits YOY. Visa’s U.S. gross dollar volume (GDV) increased…

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