All articles by Verdict Staff
Verdict Staff
Comment: Debit card fee-charging on the up
Up until a few years ago, debit cards were viewed as loss-leader accompaniments to current accounts, with little clarity on how transaction costs contributed to overall current account profit and loss ratios, and issuers had limited incentive to actively promote their usage. However, with the growing worldwide consumer shift to debit over credit, which is boosting the volume of funds in consumer current account deposits, and the economic turbulence of the last two years incentivising consumers to gain more control over their everyday spending, issuers are increasingly positioning the current account debit card as a crucial customer acquisition, retention and cross-selling tool. And, in light of banks credit card profits taking a hammering due to rising credit losses and provisions, some issuers are also using this opportunity to hike up fees on debit card-related services in a bid to recoup lost revenues.
Zitouna Bank deploys instant issuance in Tunisia with Gemalto
Dutch security specialist Gemalto has announced that Zitouna Bank in Tunisia has selected its Dexxis Instant Issuance solution for on-the-spot EMV card personalization across the banks branches nationwide The newly opened bank is also the first in the country to offer instant issuance and on-the-spot delivery of payment cards that enable its customers to use their new payment cards immediately.
Visa Inc profit down in Q3
Third quarter net income for Visa Inc was $716 million, down from $744 million on the same period last year. Net operating revenue in the fiscal third quarter of 2010 was $2.0 billion, an increase of 23 percent over the prior year, driven by strong contributions across all revenue categories, in particular data processing and international transaction revenues. Payments volume growth, on a constant dollar basis for the three months ended March 31, 2010 was 13 percent higher than last year at $745 billion
UK Chancellor launches Monitise in India
The UKs Chancellor of the Exchequer, George Osborne MP is in Mumbai to call on the Governor of the Reserve Bank of India Mr Duvvuri Subbarao to deliver a speech on UK and India: A New Economic Partnership as well as announce the partnership in India of UK mobile banking specialist Monitise and global processor Visa. The event, co-hosted by the British Deputy High Commission, UK Trade & Investment and the Indian Bankers Association, will be attended by senior representatives of the banking, financial services, and business communities in the city. During his visit he will ring the opening bell at the Bombay Stock Exchange, launch Vodafone’s new solar powered mobile handset and meet leading bankers, regulators, corporate heads and industrialists
US Bank and LAN Airlines partner
US Bank and LAN Airlines have partnered to launch the Lanpass Visa credit card, giving LAN Airlines and its affiliates a way to earn travel rewards with card purchases.
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Redecard partners with Coopercred
Brazilian processor Redecard is forming a partnership with local credit card company Coopercred to process its credit card and voucher transactions.
JCB appoints Kawanishi as new CEO
Japanese payment brand and credit card issuer JCB has named Takao Kawanishi as its latest president and CEO, succeeding Tamio Takakura with immediate effect.
TSYS and Tesco Bank extend partnership
Payment services provider TSYS has extended its partnership with UK based Tesco Bank to provide credit card processing services.
Schulman hired to expand AmEx payment services
American Express has named Daniel Schulman as the man to head up Enterprise Growth, a new business unit designed to expand its mobile and online payment services.
Standard Bank launches credit card for women
Research showing that it is the fairer sex who make the majority of buying decisions has pushed Standard Bank into creating MyCard, a credit card made especially for South African women.