All articles by Verdict Staff
Verdict Staff
Delinquencies down again in Discover’s third quarter
Discover Financial Services reported card sales volumes of $24 billion in the third quarter, up 5 percent, its fourth consecutive quarter of year-on-year growth Net income generated for these three months was reported at $261 million, a 55% decrease from the same period last year However, the third quarter of 2009 was boosted $287 million by the VisaMasterCard antitrust litigation settlement.
E-giving: The virtual collection tin
They have teamed up with online retailers to give consumers the option to round up their internet purchase values, donating the excess funds to charity
Paysafecard launches prepaid vouchers in Mexico
Paysafecard has launched its prepaid voucher product in Mexico, further expanding its presence in the Latin American market. Paysafecard partnered with online payment service provider GlobalCollect in June to increase its availability in Argentina, and secure a base for its current launch into Mexico. The payment method enables consumers to make online cash payments without the need for a bank account or credit card.
Building revolving credit in tough times
Though creditworthiness has declined with the financial crisis and made issuers more vigilant against losses, the Holy Grail for many in Europe remains increasing levels of revolving balances among cardholders. Issuers in the UK and US are old hands in generating revolving credit from card customers, where the feature is well-established as a banking product In other markets, notably Spain, issuers are fighting to establish the feature among their customers through education, cash advances and rewards offers.
Recession boosts prepaid as APS enters profitability
As the recession throws prepaid card provider Advanced Payment Solutions (APS) into profitability for the first time, its CEO claims it is ready to double its customer base.
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Faster Payments up 67% in the UK
The total value of payments in the UK economy fell 0.6 percent in the second quarter of this year, according to the Payments Council. Use of the Faster Paymentsservice among consumers is risingdramatically,cheque usage continuesto decline, but overall payment results continue to show a distinct lack of energy, the organisation said in its second quarter statistical release.
Edenred launches Belgian benefits card
Edenred, the prepaid service voucher provider, has launched the first card-based luncheon vouchers on the Belgian market Edenred wants the electronic vouchers, which have contactless functions, to replace todays paper-based employee benefit programme
UK public transport card in pipeline
British transport minister Norman Baker said he has asked officials to draw up plans to introduce the cards – based on Transport for London’s (TfL) Oyster card scheme -in order to encourage use of buses, trains and trams. Ultimately, the goal would be to allow seamless travel on one ticket throughout the country, although Baker has accepted that including long-distance rail journeys in the scheme may be complicated.
Interac’s battle for survival
It is predicted the business will lose 30 percent of its market share in the next five years If it is to survive in an increasingly competitive market, Canadas regulators must allow it to become a for-profit business, as Louise Naughton reports
Indian retailers fight back on interchange
According to a local media report, the Retail Association of India has called for debit interchange in India one of the highest fees of its kind in the world to be reduced.