CivicPay Ready to Capture Citizen-to-Government Payments

CivicPay Ready to Capture Citizen-to-Government Payments

Accela has unveiled CivicPay on the Accela Civic Platform, enabling citizens to make payments to government agencies online in real-time. CivicPay offers residents an easier way to make payments anytime, from anywhere, and allows agencies to securely automate the process. CivicPay’s system addresses the pain points associated with traditionally time-consuming and difficult payment reconciliation processes…

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Costco Begins to Accept Visa Only & New Co-Brand Takes Off

Costco Begins to Accept Visa Only & New Costco Visa Takes Off

Citi confirms it has successfully completed the acquisition and conversion of Costco’s U.S. co-brand credit card portfolio from American Express. Citi acquired in excess of $10.5 billion of credit card receivables. The new Costco Anywhere Visa Card by Citi and Costco Anywhere Visa Business Card by Citi are available exclusively to Costco members. The long-term…

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Australian Credit Card Debt Bumps Up a Bit in April

Australian Credit Card Debt Bumps Up a Bit in April

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Australian credit card outstandings edged up by 1.4% year-on-year (YOY) in April. Credit card credit limits increased 3.3% YOY and the number of credit card accounts rose 2.8% YOY. The average balance per account in April declined 1.4% YOY to AU$3149, compared to AU$3157 for March, and AU$3194 for April 2015.

Credit…

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MasterCard Continues to Lead Major 4 Networks in Global GDV

MasterCard Continues to Lead Major 4 Networks in Global GDV

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Gross dollar volume (GDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) globally increased 4.2% year-on-year (YOY) on a nominal dollars basis, for the first quarter (1Q/16). However, on a currency adjusted basis (FX) global GDV for the first quarter increased 10.6% YOY.  The major four networks posted…

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Other Payment News: VISA; VISUALANT; BANKRATE; and ELAVON

In Other Payment News: VISA (campaign); VISUALANT (funding); BANKRATE (acquisition); and ELAVON (canada). VISA – Visa launched its most ambitious integrated global Olympic Games campaign in the company’s history. Marking a bold new direction in Visa’s marketing and communications, the “Carpool” campaign will run globally across all media channels from digital to broadcast as an…

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MasterCard Speeds U.S. Merchant EMV Adoption

MasterCard Speeds U.S. Merchant EMV Adoption

MasterCard has now joined Visa in launching new initiatives to accelerate EMV adoption among U.S. merchants. The new EMV chip terminal testing and certification program covers acquirers and value-added resellers (VARs). More than 70% of all U.S.-issued MasterCard branded consumer credit cards are now chip cards. MasterCard operates a chip terminal testing and certification process…

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Dragonfly Captures Malaysian Money Remittance Market

Singapore-based Dragonfly Fintech (DF), inked a deal to power the Malaysian Metro Money Exchange. The remittance market in Malaysia is about $10 billion annually. The payment and settlement solution will be implemented in partnership with BC Fintech, a Dragonfly system integrator. The solution will drive the entire remittance chain, from wholesale foreign exchange to the receipt…

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Largest U.S. Retailers Remain Omnichannel Laggards

Largest U.S. Retailers Remain Omnichannel Laggards

The largest retailers continue to struggle to become omnichannel-ready. Sporting goods merchants lead the omni-ready pack, followed closely behind by mass merchants and electronics/entertainment while grocery and pharma continue to be laggards. According to the Vantiv/PYMNTS.com OmniReadi Index, the top 30% of merchants appear to be on their way to becoming OmniReadi, but the remaining…

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POS NFC Poised to Explode Through 2022

POS NFC Poised to Explode Through 2022

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] There is a consensus NFC-ready POS terminals globally will grow at a compound annual growth rate (CAGR) of 28.4% from 23 million units in 2015 to 75 million units in 2019. According to new report from KBV Research, NFC technology’s potential is anticipated to make NFC a leading technology for mobile…

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CPI Shareholders Sue Over the Company’s 2015 IPO

CPI Shareholders Sue Over the Company’s 2015 IPO

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] CPI Card Group has been hit with class action shareholder lawsuits in regard to its October 2015 IPO and 1Q/16 earnings report. On May 11, CPI reported disappointing financial results for the first quarter, stating “primary impact resulting from lower than expected EMV card shipments,” according to President and CEO Steve…

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