March 29 – The ability to profitability serve prepaid card market has proven elusive for some while presenting a bounty for others. Strong adoption, particularly among certain demographic groups, has led to strong growth in overall purchase volume but few repeat customers. Javelin Strategy & Research examined various demographic consumer segments and debunked and confirmed a number of surprising stereotypes about prepaid cards. Its latest study, Navigating Prepaid Card Waters: Finding Opportunities in a Sea of Challenges, provides recommendations to market to these consumer segments and increase profitability of prepaid card market.
March 28 – Wells Fargo Bank, N.A. has announced that customers now have card-free access to all of its 13,000 ATMs, coast-to-coast. The company’s One-Time Access Code technology allows customers to authenticate at an ATM using an 8-digit token and their debit or ATM card Personal Identification Number (PIN), instead of a physical card. (more…)
March 20 – NACHA—The Electronic Payments Association will introduce the Faster Payments Experience — a consummate educational opportunity encompassing sessions and solutions that focus on real-time, same-day and other faster payments initiatives — at PAYMENTS 2017, the premier event for the payments industry that will take place April 23-26 in Austin, Texas.
March 20 – U.S. Bank Corporate Travel Card clients will soon have the convenience of paying for expenditures via mobile with Apple Pay, Android Pay or Samsung Pay. This new functionality allows commercial cardholders to conveniently and securely pay on the go with compatible devices, making U.S. Bank the first financial institution to offer a mobile payment solution for Visa corporate card transactions.
March 7 – LendingPoint, the company working to revolutionize access to credit, has announced a partnership with FinWise Bank that allows the company to offer its full suite of loan products to customers nationwide.
StrategyCorps’ second annual “Consumer Checking Financial Performance Report” provides detailed analysis on more than 4.5 million checking account relationships incorporating over 600 million data points using its database from its CheckingScore analytical solution. The result is the most insightful and actionable information on consumer checking for financial institutions to use in benchmarking their own performance and to incorporate into their product and checking line-up decision-making.
February 21 – The U.S. person-to-person (P2P) payment market in 2016 has experienced dramatic growth with almost $500 billion in P2P transactions from a bank, non-bank or money transmitter service. This market will experience further expansion over the next year, as the number of consumers conducting at least one digital P2P transaction in the past 12 months increased in 2016.
February 9 – During the month of President Trump’s inauguration, confidence in the U.S. economy reached the highest levels in five years among small businesses and middle-market companies, reports Barlow Research.
February 9 – Malauzai Software, a provider of mobile and Internet banking SmartApps™ for community financial institutions, released its latest “Monkey Insights, Digital Banking Usage” providing significant trends and usage within the internet and mobile banking arenas from more than 415 U.S. financial institutions.
February 3 – Citi Retail Services and Sears Holdings have launched the Sears Mastercard with Shop Your Way, available today. With an industry-leading 5-3-2-1 rewards offer, customers can earn rewards points on all purchases everywhere they shop. The Sears Mastercard is powered by Citi Retail Services, one of the country’s largest and most experienced private label and cobrand credit card issuers.