Payments News » Cards

Debit Dynamics

May 7 2019

in
Cards

“The new Fed study says average per-transaction ACS costs for regulated debit card issuers, excluding fraud losses, fell to 3.6 cents in 2017 from 4.2 cents in 2015, reflecting a cumulative decline of 54% since the Fed began collecting such data in 2009. The regulated interchange rate is up to 21 cents plus 0.05% of […]

Global

Card Payments Outstrip Cash for First Time in Germany

May 7 2019

“Germany’s preference for cash is legendary. While in neighbouring Holland, Sweden and Finland some supermarkets will have cash-free aisles, simply paying with a card in some parts of Germany is difficult. But a new study has shown that growing trust in card payments – particularly among younger Germans – has tipped the balance in plastic’s […]

Systems

Coinbase Launches Debit Card in the UK

April 11 2019

“When you buy cryptocurrencies on Coinbase , many users simply don’t know what to do with them. Customers in the U.K. can now get a good old plastic card and spend cryptocurrencies in-store and on any online website. This is a Visa card, so it should work with any merchant on the Visa network. The […]

Global

Users of China UnionPay’s Mobile Payment App Hit 150 Million

April 4 2019

“User can make payments, buy wealth management products and make debit card balance inquires on the app Cloud Quick Pass, the Shanghai-based company said. The platform supports online applications for more than 80 types of credit cards from 21 banks, and cardholders of over 230 lenders can make mobile payments by scanning the association’s quick […]

Regulation

How Bernie Sanders Would Lower Credit Card Fees

May 10 2019

in
Cards

“Sen. Bernie Sanders (I-Vt.) is teaming up with Rep. Alexandria Ocasio-Cortez (D-N.Y.) on a plan to cut the fees that Americans pay on their credit card bills. Sanders’ proposal, which he and Ocasio-Cortez unveiled on Thursday, is the Vermont senator’s answer to an economic concern that has also been highlighted by Sen. Elizabeth Warren (D-Mass.), […]

Global

Credit Cards Usage on the Rise in India

June 25 2019

“Indian consumers have showed their preference for credit cards, with 47.99 million credit cards in operation in April 2019, according to the Reserve Bank of India . At the same time, the number of debit cards has declined to 884.78 million, a reduction of 39.8 million existing cardholders. Between April 2018 and April 2019, India […]

Systems

Zerocard Aims to Reduce Overspending With “Debit-style” Credit Card and Rewards

August 1 2019

in
Cards

“Fin-tech company Zero announced on Tuesday, July 30, the public release of Zerocard, a credit card providing a “debit-style experience” issued by WebBank and backed by Mastercard. Zerocard aims to be an alternative to credit cards from big banks that make money off cardholders who fall into debt. Zerocard is a credit card, but […]

Companies

Apple and Goldman Sachs Credit Card Targeting August Launch Date

July 26 2019

“Apple and Goldman Sachs ’s hotly anticipated new credit card is now just weeks away from launch, according to a person familiar with the companies. The release will be the culmination of an intense, high-stakes development process for the Silicon Valley giant and the Wall Street stalwart. The Apple Card is targeted to launch as early […]

Companies

TransferWise Launches Debit Card in the U.S. With Access to 40 Currencies

June 26 2019

“Money transfer service TransferWise , coming off of a banner year in which annual revenue grew to $149.12 million (£117 million) from $84.1 million (£66 million) in 2017, this week rolled out a MasterCard debit card and an accompanying multicurrency account — TransferWise Borderless — in the United States. Much like the card TransferWise introduced […]

Systems

The spy in your wallet: Credit cards have a privacy problem

August 26 2019

“Despite a federal privacy law covering cards, I found that six types of businesses could mine and share elements of my purchase, multiplied untold times by other companies they might have passed it to. Credit cards are a spy in your wallet — and it’s time that we add privacy, alongside rewards and rates, to […]