Author: IC Payments

Apple Pay Growth Hints at the Future of Digital Wallets

As an avid Apple Pay user, I read with interest a recent Quartz article on the worldwide growth of this digital wallet. According to the article, Apple Pay is on pace to account for 10% of all global card transactions; Apple Pay currently accounts for 5% of global card transactions and that number will double…
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February 12, 2020 0

Metal Cards: From ‘Elite’ to Everyday

For years, metal cards were a symbol of high-end luxury, limited to expensive membership programs with rewards that catered to the affluent. Thanks to greater production innovation in the design and feel of metal cards, as well as more dual interface metal card solutions, many banks and other card issuers are looking to cash in…
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January 20, 2020 0

The Use of Wearables to Make Payments Is on the Rise, New Mastercard Report Finds

While we were busy giving thanks here in the U.S. last week, Mastercard Europe was busy publishing some interesting data about peoples’ use of wearable technology to make payments. According to the press release, the use of wearables to make payments has increased eightfold since last year.  That’s an impressive number. Granted, wearable payments was (and…
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December 4, 2019 0

Eye on Contactless: Credit Unions’ Contactless Cards Grow; Mastercard’s New Transit Partner

A leading credit-union service organization reported Wednesday that it has distributed half a million contactless payment cards through some of its members, and Mastercard Inc. has paired up with a French investment firm with an eye on bringing new fare technology to mass-transit systems. St. Petersburg, Fla.-based PSCU says it has distributed 500,000 contactless cards…
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November 20, 2019 0

Mobile Pay Was in Decline – It’s Back in a Big Way!

Don’t miss another episode of Truth In Data! Click on the red bell in the lower-left corner of your screen to receive notifications as soon as the episode publishes. Data for today’s episode is provided by Mercator Advisory Group’s report – Mobile Payments: Making a Comeback Mobile pay was in decline – it’s back in a…
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November 19, 2019 0

Mobile Wallets Dominate the News, But Most Consumers Still Want Physical Gift Cards

The holidays are approaching, and with that annual shopping frenzy comes a yearly boost in gift card sales. As it turns out, though, most gift cards are likely to be plastic or paper rather than digital, according to consumer and small-business research released Thursday. While preference for digital cards is growing, some 60% of consumers still…
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October 10, 2019 0

Contactless payments push credit cards past debit in Canada

Contactless payment transaction volume is soaring in Canada to the point where total credit card transaction volume is edging out debit card transactions for the first time because many consumers are using credit cards to tap and pay. The difference is slight—6.047 billion credit card transactions were conducted in Canada in 2018 compared with 6.042…
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October 7, 2019 0

Visa Contactless Payments Scores at Women’s World Cup Venues and other Digital Transactions News briefs from 7/5/19

Visa Inc. released data indicating 51% of all purchases across nine stadiums in France hosting the group stage of the FIFA Women’s World Cup France 2019 were done with contactless cards or devices, including wearables and smart phones. The group stage of the soccer tournament ran from June 7 to June 20. Visa is the…
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July 5, 2019 0

Chip Cards Make Gains, but the U.S. Still Lags Most of the World in EMV Adoption

EMV chip card payments made substantial gains in the U.S. last year, but the nation still lags most other regions in EMV penetration, according to new figures from payment card standards body EMVCo. Some 53.5% of general-purpose U.S. card-present transactions in 2018 were so-called chip-on-chip, meaning both the point-of-sale terminal and the card were EMV-enabled,…
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June 19, 2019 0

What You Need to Know about ATM Usage

Don’t miss another episode of Truth In Data! Click on the red bell in the lower left corner of your screen to receive notifications as soon as the episode publishes. Data for today’s episode is provided by Mercator Advisory Group’s report – ATM Banking: It’s Not Just About Cash Withdrawal Anymore. Consumers report that their…
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June 17, 2019 0