Helping financial institutions and other companies build top-line revenue by identifying fraudulent applications is the focus of Socure. The company’s machine learning technology verifies customer identification, which helps contain costs tied to risk management and know your customer (KYC) regulations. Those costs have been steadily increasing. Socure’s patented technology was built to corroborate through cross-referencing […]
Private equity firm GTCR will acquire Sage Payment Solutions (SPS) for $260 million. SPS provides merchant acquiring in the United States and Canada including processing for payment card, ACH, check, private label, and loyalty cards. It has a client base of approximately 100,000 small and midsized clients with a focus on healthcare providers, nonprofit and […]
Payment service provider (PSP) PayU, which handled $20 billion in sales in 2016 from more than 300,000 online merchants, has made a $124-million strategic investment in Kreditech, a consumer lending company focused on the underbanked. Most of the investment is equity. PayU now owns a significant minority stake in Kreditech, which has raised a total […]
Clover Flex is the first PCI PTS 5.0 certified smart terminal available on the market. It is the latest device in the Clover family of point-of-sale terminals available from First Data. Clover Flex is fully integrated into the Clover operating platform. The terminal can be handheld or placed on a countertop. Clover Flex can be […]
Visa, Mastercard, Maestro, JCB, Diners Club, and American Express general purpose domestic credit, debit, and prepaid consumer and commercial cards available from Europe’s 50 largest issuers are ranked on pages 10 and 11. The top 50 includes representatives from 31 countries. Collectively, they had issued 711.2 million cards by December 31, 2016 that generated $2.427 […]
Issuers of Visa and Mastercard commercial card products are ranked by purchase volume generated in 2016 on pages 7, 8, and 9. Commercial cards include purchasing, corporate travel and entertainment (T&E), fleet, small business credit, small business debit, and prepaid (government benefits, incentives, payroll, rewards, etc.) products. JPMorgan Chase continued to rank first when measuring […]
The 12th largest U.S. merchant acquirer will purchase the 29th largest. Once North American Bancard (NAB) completes the takeover of Total Merchants Services, the new company will provide card payment acceptance services to nearly 550,000 merchant outlets. The transaction is expected to close by June 30, 2017. Last year, NAB handled $36.16 billion in credit […]
Turn to page 11 for issuers of Visa and Mastercard debit/prepaid cards in the U.S. ranked 51-100 based on purchase volume (consumer and commercial) spent at merchants in 2016.
UBS Bank has launched the UBS Visa Infinite credit card to replace its existing Visa Signature Preferred card. The Infinite product is aimed at high- and ultra-high-net-worth clients of UBS’s Wealth Management business, a group with 10 times the assets under management than the average UBS client. These customers have been spending more than $100,000 […]
Automotive and medical expenses have been identified by Synchrony Financial, the largest U.S. private label credit card issuer, as opportunities to issue credit card products that can be promoted for use in “purpose networks” of related acceptance locations. Purpose networks expand on private label cards, which require consumers to limit spending to a single merchant. […]
