ACI Adds Instant Pay for A2A Payments
Instant Pay is an account-to-account payment service that can be accessed via a single integration.
Region: Canada
Global Network Card Brands US — 2022
Consumer and commercial credit, debit and prepaid cards issued in the US carrying the American Express, Discover, Mastercard and Visa brands generated $9.563 trillion in purchase volume in 2022, an increase of 13.0% over 2021.
Digital Currency Update
Reliance Retail, India’s largest retailer, is participating in the Reserve Bank of India’s CBDC pilot. The company has partnered with ICICI Bank, Kotak Mahindra Bank and Innoviti to accept digital rupees at the point of sale.
Palm Vein Biometrics from Ingenico and Fujitsu
Among biometric modalities used to authenticate payments in a merchant’s checkout lane, including fingerprints, facial scans and iris scans, palm vein identification has notable advantages. Not only is every person’s pattern of veins unique, but the existing technology available to read veins in the human palm is more accurate than with any of the other methods.
Fiserv Expands in Canada
Desjardins, Canada’s largest federation of credit unions, will convert its card accounts to the Optis processing platform operated by Fiserv. The cooperative owns a portfolio of 4.5 million Visa and Mastercard credit card accounts and is Canada’s fourth largest credit card issuer when measuring outstanding receivables. It had been handling account processing in-house.
Investments in Merchant Acquiring, Processing—2022
The tables shown here list 123 investments (seed, venture, strategic, private equity and debt funding) in 37 countries in the merchant acquiring and processing sector of the payment card industry in 2022.
Investments & Acquisitions in 2022
There were 700 transactions in card payments and related fields in 2022. There were 382 transactions in the first half of the year and 318 in the second half. Those deals occurred in 68 countries.
Wallet Hub from ACI Worldwide
Digital wallets in more than six dozen countries worldwide are used by consumers to make payments to merchants in-store, online and in mobile apps.
Worldwide for First Nine Months of 2022
Mastercard and Visa credit, debit and prepaid cards in circulation worldwide generated $13.486 trillion in purchase volume for the first nine months of 2022, an increase of 14.9% versus the first nine months of 2021. Of the Mastercard and Visa worldwide total, purchase volume tied to cards issued outside the US accounted for 54.71%, up from 54.02% in 2021.
Payment Cards Projected Worldwide
Credit, debit and prepaid general purpose and private label payment cards in circulation worldwide are projected to reach 28.44 billion by December 31, 2027. This is up from 25.84 billion at the end of 2022.
