On The Web

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Reports

Millennials Not So Keen About Credit Cards

August 3 2018

• in
• Cards

“People age 29 and younger are 93 percent more likely to have a negative opinion of credit cards than people age 59 and older, according to new research from Wallet Hub. One completely unsurprising reason for these contrasting points of view is that “younger people are having more trouble managing their credit card debt,” Lucia […]

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Companies

Kroger Weighs Widening Unit’s Planned Ban On Visa Credit Cards

July 30 2018

• in
• Cards
• Visa

“The spat is the latest battle over the $90 billion that U.S. merchants pay each year in swipe fees. Major retailers have long looked for ways to cut down on such charges, including by lobbying lawmakers to lower the rates and through technology upgrades that avoid Visa Inc. and Mastercard Inc. entirely. A burgeoning group of financial-technology […]

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Systems

Portrait Bank Cards Are A Thing Now

July 30 2018

• in
• Cards

“Consider the ways you use your bank card on an everyday basis, whether handing it over to a cashier, swiping it to make contactless payments, or inserting it into an ATM. How are you holding the card as you do all those things? Vertically, I’m willing to bet, or in portrait orientation, to borrow a […]

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Systems

Paying by card? You’re less likely to remember the amount spent

August 16 2018

• in
• Cards
• Cash

““We were able to show that individuals who pay by card have a less accurate recall of the amount paid than individuals who settle their bill with cash”, the authors summarise, who say that the results are relevant for the financial wellbeing of everyone. “A precise recollection of past spending has an effect on the […]

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Global

Hong Kong blockchain start-up rolls out Asia’s first cryptocurrency Visa debit card to take on credit cards

September 6 2018

• in
• Cards
• Cryptocurrencies
• Hong Kong

“The Crypto.com debit card will be linked to wallets for both fiat money and cryptocurrency, which will allow users to spend their cryptocurrencies after converting these into fiat money. The company supports five cryptocurrencies – bitcoin, litecoin, ethereum, MCO and Binance Coin – and these can be converted into seven fiat currencies, including the Singapore […]

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Reports

UK CONTACTLESS PAYMENTS OVERTAKES CASH FOR FIRST TIME

January 7 2019

• in
• Cards
• Cash

“Last year saw a 15 per cent drop in notes and coins usage, strengthened by the growing popularity of contactless cards according to a new study. With €106.7 trillion revenue in 2017, the United Kingdom are the leading nation for cashless payments across Europe. Ranking second in the study, conducted by merchant account and card payment fee […]

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Companies

China Gives American Express First Shot At Its Huge Payments Market

November 9 2018

• in
• American Express
• Cards
• China

“The company said Friday that the Chinese central bank has given it preliminary approval to handle payments in yuan. AmEx (AXP) can now start setting up the payments network through a joint venture with LianLian Group, its Chinese partner. In every other market around the world, AmEx processes transactions through its own network, whose hub […]

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Companies

American Express Launches New Business Gold Card With Flexible Repayment Feature

November 9 2018

• in
• American Express
• Cards

“The Business Gold Card, which has an annual fee of $295, blends elements of both charge cards and credit cards. The card builds on other recent additions to American Express’ slate of products for small businesses, including the Amazon Business American Express Card launched in October. Like a traditional charge card, American Express will not pre-set spending […]

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Systems

As More Interest in Surcharging Emerges, So Too Comes Some Clarity on the Rules

January 18 2019

• in
• Cards

“Whether a surcharge is added to the price when paying with a credit card or a discount is provided when paying with something other than a credit card, it is a considered a surcharge, says Evan R. Minsberg, an associate at Venable LLP, a Washington, D.C.-based law firm. The card brands may enable merchants to […]

On The Wires

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Companies

Discover Adds Freeze ItSM Feature, Auto Cash Back Redemption to Savings and New Debit Card Design to Discover Cashback Debit Accounts

August 8 2018

• in
• Cards
• Discover

“Discover is introducing more features and debuting a new debit card design for the Discover Cashback Debit product. Customers of Discover Cashback Debit, previously known as Discover Cashback Checking, will now be able to temporarily freeze their debit card, automatically transfer their earned cash back to their eligible savings account and pay using a stylish […]