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February 1, 2023
On the web
Biden Moves to Slash U.S. Credit Card Fees, App Charges
Reuters
January 30, 2020
On the web
Visa Will Be the Network for the New Venmo Card As PayPal Gets Set for Growth in China
Digital Transactions
“News emerged Wednesday from PayPal Holdings Inc.’s earnings call that Visa Inc. will serve as the network for a Venmo credit card PayPal announced in October. This development follows by one week PayPal’s announcement that it has struck a deal with UnionPay, China’s payment card giant, to integrate UnionPay cards in PayPal’s wallet and allow PayPal users to pay Chinese merchants.”
December 10, 2018
On the wires
American Households Carry $420 Billion in Revolving Credit Card Debt, According to Annual NerdWallet Study
“Credit card debt continues to be one of the most expensive types of debt, and carrying that average balance of $6,929could cost $1,141 per year in interest alone. The amount Americans pay in interest may increase if the Federal Reserve increases the federal funds rate, which is likely to take place this month.”
November 28, 2018
On the wires
Introducing Quicken® World Mastercard, the Credit Card Built for Mindful Spenders
“Quicken Inc. is launching a co-branded Mastercard credit card issued by U.S. Bank, the first credit card designed to help manage spending, budgeting and planning with unique integration into Quicken software. Unlike other cards, the new Quicken credit card allows cardholders to manage their finances more precisely with real-time updates in the Quicken mobile app to continuously monitor progress towards their financial goals.”
September 6, 2018
On the wires
Citi Retail Services Launches New Shell | Fuel Rewards Credit Cards
“Citi Retail Services, Shell Oil Products US and Excentus, a PDI company, owner and operator of the Fuel Rewards® program, are excited to introduce the new Shell | Fuel Rewards Mastercard® and the private label Shell | Fuel Rewards Card. In an industry-first move, these cards will combine fuel and non-fuel savings opportunities through the Fuel Rewards program, simplifying the customer experience into a single product.”
August 6, 2018
On the web
The time is now for banks to issue contactless cards
Mobile Payments Today
“While contactless cards have had their fits and starts over the past few years in the U.S., a recent study from A.T. Kearney urges banks en masse to begin issuing plastic with the technology now that the merchants have the necessary payment terminals and consumers are more aware of the “tap” thanks to NFC-enabled mobile payments. “
On the wires
CONTACTLESS PAYMENTS TO REPRESENT 1 IN 3 IN-STORE TRANSACTIONS GLOBALLY BY 2020
“New data from leading fintech analysts, Juniper Research, estimates that driven by payment cards and mobile wallets, in-store contactless payments will reach $2 trillion by 2020, representing 15% of the total point of sale transactions. Contactless payments will exceed the $1 trillion mark for the first time in 2018, a year earlier than previously anticipated by Juniper.”
July 25, 2018
On the web
Kredivo Raises $30M To Build A Digital Credit Card For Southeast Asia
TechCrunch
“The company launched its ‘Kredivo’ service two years ago to help consumers pay online in Southeast Asia, where credit card penetration is typically low, and it is essentially the combination of a digital credit card and PayPal. The service is available in Indonesia, Southeast Asia’s largest economy, where it uses a customer’s registered phone number — there is no physical credit card — and a dedicated checkout on online retail websites. For consumers, the service offers a 30-day payback option and then more longer-term options of three, six and 12-month payback windows. The 30-day option is interest-free, but other plans come with a 2.95 percent per month charge on the reducing principle, which effectively makes it 25 percent flat.”
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