All American Express cards worldwide generated total volume (which Amex calls network volume) of $1.284 trillion in 2021, up 22.6% from 2020. Total volume is a combination of purchase volume and cash advances initiated by cards issued directly by American Express (which Amex calls billed business) and from cards issued by its Global Network Services […]
When consumers make a purchase with a credit card, the purchase amount gets added to their existing outstanding debt on that card. That outstanding debt figure is not monitored in real time by Experian, Equifax and TransUnion, the big three U.S. credit bureaus. However, they typically see outstanding debt when issuers report “use of available […]
Santander Consumer Finance, a business of Spain-based Banco Santander, Europe’s fourth largest bank, has 19 million customers and operates through 63,000 merchants. Consumer Finance, not the bank’s credit card unit, operates the Zinia buy now, pay later (BNPL) platform, which opened for business in Germany a year ago. Zinia offers installment credit for online and […]
Visa will partner with ConsenSys, a blockchain technology company, to connect central bank digital currency (CBDC) networks into existing payment rails. Visa’s CBDC Payments Module is designed to allow financial institutions to issue digital wallets or CBDC-linked cards to consumers. The pilot testing phase of development begins this year. Binance, a crypto trading platform, announced […]
Over the last two years, U.K.-based SaltPay Co., founded in 2019 as a payment services and software provider, has raised more than $1 billion in multiple funding rounds. The company operates in 12 countries in Europe and is building development centers in Portugal, Ireland and the Czech Republic. SaltPay has used its cash, in part, […]
There were 82 mergers and acquisitions in the merchant processing and acquiring sector of the payment card industry in 2021. Those transactions occurred in 31 countries. The monetary values of only 17 of the 82 deals were made public. Among those 17, the largest involved First American Payment Systems in the U.S. The value of […]
Travel industry payment specialist Mystifly has 3,000 clients in Asia-Pacific (APAC), Europe, the Middle East and Africa (EMEA) and the Americas. It will offer customers the ability to use virtual prepaid Diners Club International (DCI) cards when booking with airlines. Acceptance fees on those DCI cards are priced lower than Visa, Mastercard and American Express […]
Nium handled over $8 billion in payments last year for financial institution, fintech, payment service provider, travel industry and other customers. Through a single application programming interface (API), those customers have access to a complete stack of applications that comprise Nium’s banking-as-a-service platform. Applications are also available on an a la carte basis. Clients use […]
Omnichannel payment platform provider Adyen handles card and alternative payment method transactions, mostly for large global merchants. Adyen opened for business in Europe in 2006, providing a payment gateway for card-not-present transactions for clients including McDonald’s, eBay and Microsoft. Adyen added in-store point-of-sale terminal processing in Europe in 2014 and the U.S. in 2015 using […]
Credit, debit and prepaid cards in circulation worldwide carrying Visa and Mastercard brands generated $12.229 trillion in purchase volume for the first nine months of 2021, up 21.1% versus the first nine months of 2020. Purchase volume on cards issued outside the U.S. accounted for 55.87% of the Visa and Mastercard worldwide total, a decline […]
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