Welcome to the new normal of $40 for late fees for missing your credit card payment due date. Over the past two years, the nation’s top issuers have been nudging late fees up from $35 to $40. Under current, non-existent credit card regulations, the “sky is the limit.” Indeed, credit card issuers are only limited…
Global card facts 2019 reveal there is booming competition outside the U.S. for payment cards (credit + charge + debit + prepaid), especially for Visa and Mastercard. The number of payments cards-in-force globally for the four largest U.S.-based networks topped 5.6 billion this year, growing about 7% annually. American Express and Capital One are experiencing…
Card facts 2019 thus far point to growing usage, slowing issuance and dogged by rising late payments. The number of payment transactions is up 7%, the number of cards issued is up 5%, and delinquency sits at a five-year high. U.S. Bank Credit Cards in Use? U.S. credit/charge cards-in-force for Visa, MasterCard, American Express and…
Prepaid cards gained more popularity last year, capturing nearly 5% of the U.S. market based on payment card annual dollar volume. Totally, purchase volume on credit, charge, debit and prepaid cards tallied to nearly $7 trillion in 2018. Most consumers would correctly guess Visa and Mastercard are the most popular payment card brands in the…
Giggers: Work Today? Get Paid Today or Just Need a Pay Advance? Whether you are a gigger or an hourly employee, you can have your dough in seconds via Mastercard’s new push payment solution. Mastercard Send avoids the “check is-in-the-mail” crap or the payday “loan sharks” who will soak you with an average interest rate…
Thanks to some young bright financial technology engineers you can now consolidate up to 24 credit or debit cards into one card you can use at the cash register, as well as enabling peer-to-peer payments with instant access to funds. The new Binji payment platform with Mastercard Debit works in tandem with the Binji App…
Hemp derived CBD products are “Hot as Purgatory” as a new company gears up to unveil its new cannabis credit card and its new product line on 420. Four-Twenty is slang in cannabis culture for the consumption of cannabis, especially smoking cannabis around the time 4:20 p.m., and annually celebrated on April 20th. NJ-based GD…
As signatures for credit cards diminish in value and PINs (personal identification numbers) become more common for debit card transactions, the next wave could likely be biometric payment cards. Payments cards with smart chips have had a big impact on fraud in the U.S.. Coupled with a four-digit PIN the payment card fraud decreases exponentially.…
Increasingly, parents and schools are now on-board with saying goodbye to paying with cash for school lunches and opting for debit cards the students can use on cafeteria transactions, like using MySchoolBucks. While this idea has been helpful in expediting long lunch lines and making for cleaner accounting at the end of the day, electronic…
Canadian cardholders have slacked off in credit card usage this year as consumer confidence declines after hitting an all-time high in November 2018. However, the latest Visa and Mastercard reports show consumer spending was good last year, just not as good as 2017. Combined, Visa and Mastercard payment cards processed US$115 billion in purchase dollar…
