Issuing & Acquiring RSS
Annual domestic card spending by UK consumers passed £0.5 trillion for the first ever time in 2013 as shoppers increasingly choose cards over cash, according to a report published by The UK Cards Association. Around 74.5% of all retail spending is now made using debit and credit cards, up from less than half (46.5%) in [...]
American Express has contacted around 75,000 of its customers in California to warn them that their card data has been posted online by Anonymous Ukraine. In March this year, the Ukrainian branch of the Anonymous group posted details from around 7 million Visa, MasterCard, AmEx and Discover cards online in protest at the US and [...]
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Visa and MasterCard plan to continue to operate in Russia, following compromise agreements with the Russian government in the wake of the sanctions imposed on the country due to the ongoing Ukraine/Crimea tensions in the region. Following the imposition of economic sanctions against Russia in March this year, Visa and MasterCard both stopped processing card [...]
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Swedish bank SEB is to sell its card acquiring business Euroline to private equity player Nordic Capital for SEK 2.2 billion. Euroline, which acquires Visa, MasterCard and Diners Club transactions and is a major e-commerce player in the Nordic region, handled volumes of around SEK 100 billion in 2013. SEB has issued nearly four million [...]
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For the first time since Q4 2008, near the height of the credit crisis, year-over-year receivables increased by more than 1% in Q1 2014. Purchase volume increased by 7.0% on a year-over-year basis, a trend that has been consistent since the end of the great recession (note: quarter-over-quarter receivables and purchase volume decreased by 5.3% [...]
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