A country’s economy is made up of multiple generations. And while we in the payments industry have been watching (and are fascinated by) the financial behavior of the Millennials (e.g. excessive student debt, delayed home buying, preference for digital, etc.), hot...
We are just a month away from the October EMV liability shift and the transition is, to no one's surprise, mostly incomplete. EMV credit card issuance is expected to be at just 50% by the end of this year. Point of sale hardware upgrades at major retailers may be...
The Apple Pay announcement finally came yesterday and the company's orchestration of much of the complex and fractious card payments ecosystem demonstrates Apple's insight into how the current payments ecosystem works and how it must be aligned in order to meet its...
We often get interesting questions about payments, and the latest one stumped us: "How many credit and debit fraudulent uses are first detected by the bank? By the customer?" We don't know the answer to that one or of any good source for this data so we...
Last week we asked readers to help us capture a snapshot of U.S. market contactless/RFID terminalization. We were pleased to get 43 brave souls to respond. Here are the (admittedly anything but scientific) results: We also asked respondents to identify themselves...
I was particularly interested in the merchant funded rewards session put on by Jonathan Silver of Affinity Solutions and John MacMillan from Comerica Bank. Having listened to several discussions point to debit card rewards as important to consumers, this session...
Chase Blueprint brings new transparency and consumer control to credit cards Today’s announcement of the new “Blueprint” functionality by Chase Card Services represents a significant generational inflection point in the evolution of the US credit card business....
Consistent with the current government focus on enhancing consumer protection, the Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act of 2009) brings sea changes to the credit card industry. Forward-looking financial services...
In a frankly depressing but undoubtedly realistic column this morning titled "National Addiction to Easy Credit Remains Consumers' Downfall", Michelle Singletary, the Washington Post's personal finance columnist, writes that the credit card reforms being put into...
In his New Yorker column this week titled "House of Cards", James Surowiecki writes about how some US credit card issuers are trying to shed some of their existing customers.In effect, they’re trying to follow the advice given by Larry Selden and Geoffrey Colvin in...
