A recent poll by leading marketing research firm GfK reveals that almost nine in ten (88%) US consumers are at least “a little” concerned about the privacy of their personal data. One in three consumers also reports being directly impacted by misuse of personal data within the past year. The poll, conducted last month, collected
MasterCard has announced the licensing of Guaranty Trust Bank (GTBank) to issue MasterCard debit, credit and prepaid cards in Kenya. The collaboration is expected to increase the adoption of electronic payments in the country, especially in the retail banking sector. James Wainaina, Vice President and Area Business Head, MasterCard East Africa said: “MasterCard’s vision for
Purchases for goods and services from merchants worldwide in 2013 grew by $2.786 trillion or 22.0% to $15.422 trillion. The most popular payment method based on purchase volume were UnionPay debit cards, which for the first time surpassed Visa credit cards and Visa debit cards, according to the annual report, Global Cards, published in the
Bank of America Merrill Lynch, a leader in card services has announced that it is expanding chip and PIN technology to all purchasing and travel credit card products available to clients in the United States. This is the latest development in the company’s ongoing effort to rollout EMV (EuroPay Mastercard Visa) technology to its global
First Data and MasterCard has announced an agreement in which First Data’s STAR Network will participate in MasterCard’s common U.S. Debit EMV solution. This agreement, combined with other recent industry announcements, provides a cost-effective solution and accelerates the ability for EMV functionality to be implemented across the U.S. EMV/ chip cards better protect account information
MasterCard reported a growth of 40% in gross dollar volume, or GDV, for its prepaid card business across Asia/Pacific, Middle East & Africa (APMEA) for 2013 (y-o-y). This strong growth was fuelled in part by significant partnerships announced over the last couple of years in the region, such as: The OneSmart dual-faced loyalty and prepaid
Following concerns raised in the Competition Commission Bank Enquiry Report regarding interchange fees, the South African Reserve Bank initiated the Interchange Determination Project in 2011 to review interchange rates applied in all relevant payment streams. Two payment streams were selected for the initial phase of the project, namely ATM and all card-related streams. The card
FIS a provider of banking and payments technology, and its NYCE Payments Network has announced a licensing agreement to make the Visa EMV debit solution available to all NYCE participants. This agreement furthers the U.S. payments industry goal of EMV adoption and is NYCE’s first formal EMV license, which can be used by NYCE Network
Universal Studios and American Express have announced an expanded multi-year agreement that brings Universal’s theme parks and filmed entertainment together with American Express to create exclusive consumer benefits and experiences. The agreement also enables American Express, for the first time, to acquire new Card Members directly through Universal theme parks and websites. While American Express
Visa Inc. and PULSE, a Discover Financial Services company, announced an agreement to enable financial institutions that issue EMV debit cards on both the Visa and PULSE networks to use Visa’s common debit solution. Visa’s common application identifier (AID) supports U.S. debit regulations requiring the ability to route transactions over multiple, unaffiliated networks. A common
