Knot’s Card-on-File Management Platform
Cardholders opt in through their banking app if they want to instantly update Knot-supported merchants with new credit, debit or prepaid card details.
Area of Interest: Payment Card Issuing
Small Business Credit Score Automation from Worth AI
Credit card issuers can use Worth AI to assess their exposure to losses from cardholders in their existing portfolios as well as to identify businesses that are candidates for credit line increases.
Merchant Fee Litigation Settlement in the US
Opposition to the injunctive relief is expected from some merchants that remained in the class action. An appeal is possible.
Mastercard Open Banking APIs in the US
Mastercard’s service combines consumer-permissioned data with machine learning to support the account opening process.
Credit Card Late Fees Capped
The CFPB said that late fees averaged $32 in 2022, up from $23 at the end of 2010.
Canada Card Issuers and Networks —2023
Canada’s national debit card brand, Interac, maintained its position as the top brand measured by purchase transaction market share in 2023.
Fingerprint Cards’ Biometric Enrollment Device
To support a wider rollout of payment cards that can be secured by fingerprint biometrics, Fingerprint Cards has launched Smart’Nroll.
Top 50 US Mastercard and Visa Credit Card Issuers–2023
When measuring the entire US industry, the average increase in Mastercard and Visa outstandings was 11.7% in 2023.
Cusip Global Services Now Handling BIN Management
CSG is already a partner with the ABA on the management of numbers tied to stocks, bonds and other financial instruments, such as certificates of deposit.
Capital One to Buy Discover
Buying Discover would make Capital One the only full-service commercial bank in the US with ownership of a global merchant network. In the US, that network has about 99% parity with the Visa and Mastercard networks. Capital One will benefit from direct connections to merchants not available to issuers in the Visa and Mastercard systems unless they also acquire transactions from those merchants.