All articles by Verdict Staff
Verdict Staff
US Bank launches P2P m-payments
US Bank is to become the first mainstream US financial institution to launch a person-to-person (P2P) payments service after teaming up with provider CashEdge. US Bank will offer CashEdge’s online and via mobile product Popmoney to customers through usbank.com and a downloadable mobile banking application, called the US Bank Mobile Wallet. US Bank is the first large US bank to offer a mobile P2P solution that enables users to send money directly from their bank account to anyone with an email address, mobile phone number and a bank account.
Credit card issuance rises in India
The number of credit cards in circulation in India rose for the first time in 18 months from 18.28 million to 19.29 million in April as banks cross-sell cards to their existing customer base. HDFC Bank is leading the way, issuing 80,000 90,000 new credit cards a month, and according to data released by the Reserve Bank of India (RBI), 90 percent of new cards sourced by HDFC Bank are from the existing customer pool HDFC had 4.45 million credit cards in circulation by the end of March, according to Parag Rao, head of cards at the private sector lender.
UBS Card Center latest member of PCI SSC
Swiss card processor UBS Card Center has joined the Visas Payment Card Industry Security Standards Council (PCI SSC) as a Participating Organisation in a bid to combat fraud threats to the payment industry UBS Card Center is the first Swiss card processor to hold Visas Payment Card Industry Data Security Standard (PCI DSS) certification and under the new agreement it will now have access to the latest payment card security standards and be able to provide its own feedback.
Ex-Paypal VP to head up Chase m-payments
Jack Stephenson has been named as the man to lead the drive towards mobile and internet payments at US financial services firm JPMorgan Chase. Stephenson, who has been the senior vice president of strategy, partnerships, analytics and new ventures at PayPal, stepped into his new role as director of mobile, e-commerce and payments at the beginning of the month. We will build on JPMorgan Chase’s tremendous strengths across cards, merchant services, consumer and business banking, and commercial payments, said Stephenson
Deutsche Post DHL launches recycled payment cards
Deutsche Post DHL, an international mail service, has unveiled plans to roll out cards made from recycled materials developed by digital security solutions provider Gemalto.
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Barclaycard US launches credit card for NFL fans
Barclaycards points-based credit cards bearing the American National Football League (NFL) shield and individual club logos will be available to sports fans from September this year after an exclusive multi-year deal was struck between the two parties.
Race is on for m-payments in Haiti
The first firm to launch a mobile money service in Haiti in the next six months will receive $2.5 million in funding from the Bill and Melinda Gates Foundation.
BTS launch transfer service in Latin America and Asia
Bancomer Transfer Services (BTS) has launched a money transfer service enabling consumers to send money from any BTS location in the US to Latin America and Asian countries.
Visa card spending grows in Asia Pacific
The number of payment transactions rose to 9.8 billion, up from 8.6 billion, while payment volume, representing the aggregate dollar amount of purchases made with cards carrying the Visa, Visa Electron or Interlink brands, increased 10.2 percent to $738 billion in the same period.
Citi launches 5% debit card cashback promo
Citigroup has launched a current account promotion offering a 5% cash back bonus until the end of November for signature-based debit card purchases The offer applies to customers opening a new Citi personal or business checking account before 9 July. During the six-month promotion, Citi will automatically deposit a cash bonus up to a maximum of either $250 for personal accounts or $500 for business and premier personal accounts directly back into the customers current account.