Purchase volume generated by general purpose and private label credit, debit and prepaid cards issued in the US—consumer and commercial products combined—was $11.580 trillion in 2023, up 5.8% from 2022. Credit card purchase volume was $6.105 trillion, up 6.0% from 2022. Debit and prepaid card purchase volume was $5.475 trillion, up 5.5% from 2022. Credit […]
A dual-interface chip that enables a greater degree of design options for credit and debit cards is now available from CPI, the largest US-based payment card manufacturer.
Manufacturers of barcode and scratch card products that don’t have chips or magstripes were led by Inkript Cards with 979.2 million, Trasna (formerly Workz Media) with 864.7 million and KL Hi-Tech Secure Print with 180.0 million.
Services include account processing, risk management, credit and money transfers.
Swisscard, a 50%-50% joint venture between American Express and Credit Suisse since 1998, will become 100% owned by American Express.
Currently, 14 of the top 50 US retailers participate, including Shell, Walmart, CVS and Dollar General.
Credit card issuers from the US held a 44.9% market share among the top 150. Issuers from China followed with 33.0%.
A partnership formed with Cardless will allow Alibaba.com to offer small businesses in the US a Mastercard World Elite Business card that provides cash-back rewards for card spending or 60-day interest-free payment terms on purchases up to $40,000.
A proof of concept for instant payments settled in real time through links to the Federal Reserve’s FedNow Service and RTP from The Clearing House network has just been completed.
Most of LoanPro’s 700 clients offer consumer installment loans.
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