There has been considerable industry chatter and analysis since news broke that Apple and Goldman Sachs are teaming up to issue a credit card on the Mastercard network. A lot of thinking has centered on Apple Pay, mobile payments and how this card can stimulate Apple Pay volume and address Apple’s revenue decline given slowing…
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Banks and Apple Pay have not always had easy partnerships, but a hot market for co-branded cards gives Goldman Sachs a chance to advance its consumer ambitions and Apple an opportunity to offset slumps in device sales. As Apple picks up adoption among merchants and consumers, it is plotting a deeper dive into payments that…
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Artificial intelligence, the so-called internet of things and self-driving cars are just a few examples of technologies that have migrated from science fiction to our everyday lives. Yet the lifeblood of society, money, has until recently largely been stuck in the realm of slips of paper and chunks of metal. The payments landscape has, however,…
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Apple Pay adoption show no signs of abating, with an estimated 43% of iPhone users across the globe enabling the mobile-payments service, says Loup Ventures LLC in a research note released Tuesday. That’s up from 36% in September and 20% in December 2017. Other estimates from the Minneapolis-based venture-capital firm suggest that 24% of U.S.…
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It has become much more difficult for criminals to counterfeit credit and debit cards since EMV® chips started being embedded for improved security. The industry was encouraged to shift to chip cards in the U.S. a little over three years ago with the promise of better protection against counterfeit fraud for consumers, merchants and issuers.…
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While global card expenditures will increase 80% to $45 trillion by 2023 from $25 trillion in 2017, growth in the United States will be slow compared to other regions because the U.S. is already a well-developed market, says RBR Research in its “Global Payment Cards Data and Forecasts to 2023” research report. Released Monday, the…
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The information you need to start your day, from PaymentsSource and around the Web: Sweetening the deal Visa has upped its offer for Earthport to about $319 milion, or 12 percent more than Mastercard’s bid in January as the two card networks battle to acquire the cross-border payment company. Earthport, which had originally supported Mastercard’s…
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Vendor consolidation has been topping fintech headlines in 2019, since the announcement of banking technology vendor Fiserv announced its acquisition of payments processor First Data. The major deal followed others in recent years — such as FIS’s acquisition of SunGard and the merger of D+H and Misys into Finastra — in which legacy fintech providers…
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John Stewart January 22, 2019 Apple Inc. on Tuesday announced Target Corp., Taco Bell, and two regional chains are the latest merchants to agree to accept Apple Pay in-store, a development that could bolster the mobile-payments service and further smooth the road for contactless payments in the United States. Separately, Target announced it will also “soon”…
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So far, Visa Inc. has dominated the headlines regarding the U.S. conversion to contactless payment cards. Mastercard Inc., however, will soon be getting into the act. “In the U.S., contactless momentum continues to grow on both issuing and acceptance sides,” Mastercard president and chief executive Ajay Banga said Thursday. “We have received commitments from issuers…
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