On The Web

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Systems

Travel Bans Take Shine Off Banks’ Premium Rewards Cards

June 29 2020

• in
• Cards

“For more than 20 years, Laura Chapman routinely charged thousands of dollars a month on her American Express Co. Platinum card. The 57-year-old travel agent’s income and spending took a dive after coronavirus made the kind of business trips and vacations she booked all but impossible. She canceled the card when AmEx charged her the […]

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Global

EU Says Card Fee Curbs Are Working, Retailers Want More

June 30 2020

• in
• Cards
• European Union

“Caps on the fees retailers pay to process debit and credit card transactions have helped push down prices, EU antitrust regulators said on Monday, but merchants called for even tighter limits. The Interchange Fee Regulation (IFR), which was triggered by a lengthy battle between retailers and payments groups including Visa and Mastercard, limits debit card […]

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Providers

Credit Card Industry Reins in Balance-transfer Offers As Banks From JPMorgan to Amex Fear Defaults

June 29 2020

• in
• Cards
• Lenders

“Banks have pulled back from a popular credit card promotion on concerns that borrowers struggling during the coronavirus crisis may leave them with defaulting loans. Balance transfer offers, which typically entice borrowers to move their debt to a new lender in exchange for a temporary 0% interest rate, have been sharply reduced at banks including […]

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Global

P27 on Track As Norway Commits Further and Community Banks Are Brought Into the Fold

June 26 2020

• in
• National infrastructure
• Norway

“A 40-plus priority project plan in full swing, Norway once again close to proceedings and ongoing discussions with all four countries’ financial authorities, project P27 is very much on track, P27 CEO Lars Sjogren assures, in a frank and candid interview with Finextra After Coronavirus brought the world temporarily to a halt, work behind the […]

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Systems

Casinos Consider Cashless Gambling to Fight Coronavirus

June 29 2020

• in
• Cash

“The U.S. casino industry remains a bastion of cash in an increasingly cashless world, where high-security vaults storing millions of dollars have inspired heist movies and the living-large vibe of Las Vegas is ferried in bags bulging with currency. But the coronavirus pandemic has generated concern over bills circulating among hundreds of hands on the […]

On The Wires

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Providers

SoFi Awards Cardtronics ATM Services Agreement and Joins Allpoint Network for Surcharge-Free Cash Withdrawals

June 26 2020

• in
• Cash
• Fintech

“SoFi, an American fintech leader and personal finance innovator, has joined with Cardtronics to give its members surcharge-free cash access at 55,000 Allpoint ATMs worldwide, including several ATMs at the new SoFi Stadium in Los Angeles.”

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Providers

Chargebacks911 Introduces Fi911, AI-Driven Payment Product Suite

June 29 2020

• in
• Cards
• Issuers

“Chargebacks911, a global leader in the field of chargeback control and mitigation, has introduced Fi911, a new tool suite for banks and other financial institutions. Developed by Chargeback911’s experts, in collaboration with some of the world’s largest financial institutions and payments processors,Fi911 is designed to enable financial institutions to automate their procedures and deal efficiently […]

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Providers

Wealthfront Adds Debit Card And Checking Features To Its Cash Account

June 30 2020

• in
• Cards
• Fintech

“Wealthfront announced the addition of checking features to its Cash Account. This is the company’s latest move to build a nextgen banking service that is branchless, automated and optimizes every dollar you earn. There is no fee or account minimum to access the new checking features.”

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Providers

Capital on Tap Partners With Marqeta for Expansion to Spain

June 30 2020

• in
• Cards
• Fintech

“Using Marqeta, Capital on Tap allows Spanish SMEs to access funding in a more streamlined and frictionless way. Its online onboarding processes mean customers don’t need to visit their bank and wait weeks for a response; instead, decisions on funding can be made within a day. In addition, Marqeta-powered credit cards provide more suitable lines […]

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Providers

InComm Launches American Express® Virtual Reward Card

June 30 2020

• in
• Cards
• Loyalty and rewards

“InComm , a leading payments technology company, today announced the launch of the American Express® Virtual Reward Card, a flexible solution for any rewards program. The American Express Virtual Reward Card is a tool designed to assist businesses in engaging customers or rewarding employees. With this digitally delivered prepaid reward card, recipients can access their […]