The US House of Representatives has voted to bring forward the date for the Credit Card Accountability, Responsibility and Disclosure (CARD) Act, meaning legislative reforms could take effect as early as December.
Bad debts on UK credit cards expected to increase
Rising bad debts and tough economic conditions mean that the business models of UK credit card issuers are unsustainable, according to a recent study by PricewaterhouseCoopers (PwC).
Credit cards struggle to find a niche in Norway
Despite the high level of overall indebtedness, short-term unsecured loans – such as credit cards and overdrafts – only represent a small proportion of total consumer debt in Norway, at around 3 percent. As with other Scandinavian markets, the debit card provides a difficult adversary to overcome – especially from an acquiring perspective.
Visa extends money transfer business
Visa has announced the extension of its international remittance service in a bid to reach beyond its traditional business line of POS card payments.
Contactless stickers gain traction
Stickers that give mobile phones payment card functionality have received a boost as competing companies have announced the latest developments in this area.
NAB does U-turn on unsolicited cards
National Australia Bank (NAB) has responded to the concerns of the Australian Securities and Investment Commission (ASIC) over claims that its American Express Gold card was being unfairly distributed.
Swiss neutrality extends to the credit card sector
Swiss banking has been known for its secretive nature for more than 300 years. While this infamous clandestineness has taken a blow during 2009, this has not dented the presence of a unique card type that is itself a product of the penchant for secrecy in banking matters.
Advanta files for bankruptcy protection
Advanta Corp., which owns credit card issuer Advanta Bank Corp., has filed for bankruptcy protection so that it can restructure its operations while keeping its creditors at bay.
Industry anticipates NFC boom
Mobile phones with near-field communication (NFC) contactless payments technology are likely to become more common, with research estimating that one in six mobile subscribers will have the technology by 2014.
Downloads
Lafferty Cards Insider - intelligence to bank on for the global cards & payments industry
Lafferty Retail Banking Insider - intelligence to bank on for the global retail banking industry
Click here to view a complimentary issue of Lafferty Cards Insider
Click here to view a complimentary issue of Lafferty Retail Banking Insider
