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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Systems

Karat launches a credit card for online creators

June 26 2020

• in
• Cards

“Karat is a new startup promising to build better banking products for the creators who make a living on YouTube, Instagram, Twitch and other online platforms. Today it’s unveiling its first product — the Karat Black Card. The startup, which was part of accelerator Y Combinator’s Winter 2020 batch , is also announcing that it […]

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Systems

Visa, Mastercard Weigh Cutting Ties With Wirecard After Scandal

June 25 2020

• in
• Cards

“Visa Inc. and Mastercard Inc. are considering revoking Wirecard AG ’s ability to process payments on their networks, moves that could cause further pain for the fintech firm that’s been battered by an accounting scandal. The world’s largest payment networks have begun reaching out to some Wirecard clients to prepare them for the possibility, according […]

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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

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 […]

On The Wires

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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 […]

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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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Global

JCB Expands Its Merchant Network With 3C Payment in Spain

July 1 2020

• in
• Cards
• Spain

“JCB International, Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., Japan’s only international payment brand, and 3C Payment, a leading global payment solutions provider, today announce the activation of JCB payment acceptance in over 85 locations of a well-established Hotel Group in Spain. This partnership strengthens JCB’s coverage across Spain and further […]

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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 […]