Paytoo Partners Genmega and Payment Alliance on cardless ATM withdrawals

Paytoo is the first Mobile Wallet to offer cardless options to the unbanked population. GENMEGA, PAYMENT ALLIANCE and PAYTOO Mobile Wallet improve customer convenience and provides new services such as money transfer or the ability to give a PIN to family members so they could have cash access in times of need. Once at the ATM, consumers can redeem a one-time pin generated from their PAYTOO® Wallet for a selected amount or they can just do a regular withdrawal by entering their phone number and security code. This technology provides an extra level of security to each account and account holder, as mobile phone verification is needed to make a transaction and the potential threat of card skimming is no longer an issue.

Details

MasterCard Appoints Acceptance Team Leader

MasterCard UK & Ireland has hired Scott Abrahams to lead its Acceptance team as Group Head of Acceptance UK and Ireland.Scott joins from American Express where he was responsible for customers such as British Airways, Emirates, Air France and Hilton. This new hire will enable MasterCard to continue to implement the technological and innovative solutions needed to make UK and Irish payments easier, convenient and even more secure for both the merchant and the consumer.

Details

Big 4 Q2/14 Outstandings

Among the Big 4 Visa and MasterCard issuers for the second quarter, Chase posted the strongest gain of 1.4% Y/Y and Capital One came in second place with a 1.0% Y/Y gain. Bank of America and Citibank posted Y/Y declines of 1.7% and 2.9%, respectively. The reason for the sluggish growth is simply more Americans see bank credit cards as bank payments cards. This trend is also confirmed by a recent ABA study which found the share of cardholders who are transactor increased from 28.6% to 29.0% this year, the highest share on record. 

Details

M-Banking 2019

Mobile banking users will likely exceed online banking users for the first time by 2019. A new report predicts 1.75 billion mobile phone users will have used their devices for banking purposes by the end of 2019, compared to 800 million this year. The scale of the mobile banking challenge has been confirmed by the decreasing number of branch visits by consumers and also the closure of physical bank branches over the past 12-24 months.


Details

World First Mobile App

World First has today announced the launch of a ground-breaking new mobile app which will allow clients to make high-speed currency transfers directly from their portable device. The World First Money Transfer App is available to download on iTunes and other app stores for free. It enables clients to manage their international payments on-the-go, so they could be making a secure transfer whilst on the Eurostar from London to Europe, and the money will be in their local account before they arrive.

Details

COF Q2/14

Capital One reported a 5% year-on-year decline in second quarter after-tax U.S. bank credit card profits to $607 million. The decline was primarily driven by a 14% year-on-year decline in net interest income. However, purchase dollar volume soared while delinquencies and charge-offs hit record lows in the second quarter. Capital One’s net revenue margin declined 164 bps and the average yield dropped 196 bps year-on-year.

Details