For VISA Cards, US and Int’l payment volume growth held steady in the quarter. US purchase volume growth (+10% YoY) remained steady at last quarter’s level as tailwinds from the Chase credit portfolio conversion (from MA) were somewhat shadowed by slight deceleration in debit volume growth (likely a result of lower gas prices). International payment volume growth also remained steady in local currency. Most notably, crossborder volume growth, which had been anemic for several quarters, ticked up nicely from 7% last quarter to 10%, driven by a pick up in the EU travel from the Middle East, China, and Australia.
VISA extended a multiyear agreement with Bank of America, its second largest issuer, on both the credit and debit side that will allow Read the rest of this entry »
Silicon Valley innovator Apple Inc has unveiled Apple Pay electronic Payment Platforms using SmartPhones and NFC threatening older and established players like VISA and MasterCard. We analyzed on if it will be a threat in disrupting the card payment industry and here is our finding. Unlike PayPal, Apple Pay is not a P2P Payment mechanism.
One must appreciate how critical the payment networks(VISA) are in facilitating Apple Pay and how tokenization furthers the importance of the networks in Read the rest of this entry »
It is not uncommon for us as consumers to get tempted to BUY the Latest SmartPhone using Credit Card. However, many of you all don’t know the importance of Credit History and thus end up in the soup. A Reader of our Advisory is in a similar situation and narrates his experience with SBI Credit Cards department seeking help,
I have been informed by the SBI Credit Cards department that credit card application was rejected for not meeting the CIBIL Score which is totally baseless. I was sent a letter stating the same which not only caused mental agony as it has questioned my integrity and credibility but also embarrassed me in-front of my colleagues. Because of this reason I had to apply for my CIBIL score which Read the rest of this entry »
Chinese Internet Giant Tencent has ventured into the Mobile Payments Platform using “Weixin” also known as WeChat. It is available on both the iOS and Android platforms. Swiping Card has been incorporated into the wallet tab and allows Weixin payment users to make payments at offline retail stores.
How does the System work from the User perspective ?
Users activate the feature by accepting the Read the rest of this entry »
Credit cards also known as plastic currency is one of the best and secure medium of shopping and it is getting popular within today’s generation, especially in IT sector people. As per the Reserve Bank of India ATM & Card Statistics for May 2014, Indian people spent over 1,52,100.00 Million Rupees for shopping with over 4,75,46,000 transactions which include ATM and POS transactions made by Credit Cards only!
Managing and tracking of credit card expenses and payment is sometime difficult if you are using more than one credit card and to track these payments and expenses there are many applications present on the Android play store which turn out to be helpful in these situations. Smart Credit Card Use (INDIA) is OFFLINE and most SECURE app to track expenses made by your single as well as multiple credit cards and payments made towards your credit card’s bill in SMART way.
This application READs and analyzes SMSs sent Read the rest of this entry »
A reader of our Advisory Services is seeking help on an issue of Credit Card which was activated but not received by the customer and Bill are sent to him after 4 years. This is what he writes,
I had applied for an ICICI Bank credit card about 4 years ago and have not received it. But I keep receiving the payment notice letters and calls from Read the rest of this entry »