NEC Nails Huge POS Deal with 7-Eleven US & Canada Stores

TX-based NEC Corporation of America (NEC) will be the new exclusive point-of-sale (POS) provider to 8,600 7-Eleven stores throughout the United States and Canada. NEC will deliver the robust TWINPOS G5100 POS that features a sleek, stylish customer display to run promotions and share information with customers to offer customers a personalized shopping experience. As a…

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Discover Card Portfolio Remains Solid – However Card Investments Edge Up

While not exploding, Discover’s (DFS) credit card portfolio continues to stay in positive territory. Year-on-year (YOY) growth in the third quarter (3Q/16) was limited to single digits, as delinquency edged upward. Discover’s total revenue rose 5.2% YOY to $2301 million for 3Q/16, compared to $2216 million in the prior quarter and $2188 million for the…

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U.S. Consumer Credit 3X+ YOY Growth Rate – May Top $1T at EOY 2016

U.S. consumer revolving credit, mostly credit card debt, exploded in November, growing at double-digits annually. While slipping downward over the past three months, consumer credit jumped to a 13.5% annual rate of growth, compared toto a revised +2.9% annual rate in October and a revised +5.1% annual rate in September. Overall consumer credit increased at…

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Processors AMS & BSR Ink Financing Deal as BSR Accelerates from ISO to FSP

Applied Merchant Systems (AMS) has expanded its senior credit facility with Goldman Sachs and Business Development Corporation of America through a Strategic Transaction with Blue Square Resolutions. Blue Square’s founder, Sabin Burrell, has become a significant shareholder; while also continuing to serve as CEO of BlueSquare. AMS now has 17,500 merchant accounts that contribute over…

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Payments Software Leaders to Unveil the Latest POS Stuff at the NYC Big Show

Star Micronics is teaming up with seven top payments related software partners at National Retail Federation (NRF) Big Show to show-off their latest cool payments products. Partners include: Star Cloud Services, Itemize, Dôr, MoZONE, Thirdshelf, nClose and e-Nabler. Star Micronics has designated a portfolio of printing, secure cash management, and customer engagement solutions for any…

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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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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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