Tag: Credit cards

Goldman-Apple credit card will yield game-changing consumer data

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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February 27, 2019 0

Time to Review the EMV Migration

On this episode we talk with Stephanie Ericksen, VP of Global Risk Products at Visa about the EMV migration and credit card fraud. During our conversation we cover the following topics: In-store credit card fraud has dropped by more than 70% in less than two years. What are the reasons for the dramatic drop? What…
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April 10, 2018 0

This old-school method for foiling card fraud has stood test of time

Credit card fraud in the late 1980s was a lot less complicated than it is today. In the pre-internet era, criminals often called banks to falsely report that a specific customer’s card was lost or stolen. Then they peeked inside the targeted customer’s mailbox to see whether the new plastic had been delivered. When the…
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February 18, 2018 0

Doing customers wrong allows your competitor to make things right

A few years ago, I attended a session at a community banking conference on how to build a successful balance-transfer credit card program. The speaker summarized the unofficial motto of his bank’s program as: “We want customers to pay off all their balances … except ours.” Everyone in the room laughed. It was a small…
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December 20, 2017 0

Chase urges card users to pay with its mobile wallet—or someone else’s

JPMorgan Chase & Co. will soon kick off a cash-back incentive for credit card customers who pay with a mobile wallet, and it doesn’t matter if the transaction is handled by its proprietary Chase Pay platform or Apple Pay, Android Pay or Samsung Pay. Chase for the first time has added mobile wallets as one…
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December 19, 2017 0

Cordray urges CEOs to give consumers more control over payments, cards

Richard Cordray is not going out meekly. A week before he is due to resign, the director of the Consumer Financial Protection Bureau sent a letter to 29 chief executives at banks, credit unions and other financial companies, urging them to help consumers exert more control over credit cards, debit cards and other payment methods.…
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November 21, 2017 0

Amex returns to its roots in acquiring Citi’s Hilton cards, adding small-biz perks

American Express will become the exclusive issuer of Hilton Honors cobranded credit cards in January, taking over the entire portfolio it previously shared with Citigroup. With an estimated 18 million Hilton Honors cardholders in the fold, American Express is also introducing Hilton’s first small-business traveler card and a premium card that stresses luxury benefits and…
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November 1, 2017 0