Fintech

Indian credit cardholders in August spent 80.8 billion rupees (US$1.6 billion or 1.2 billion euros), up 29% from 62.6 billion rupees during the same month last year, according to new data from the Reserve Bank of India.

In a move that could speed up investors’ market moves, Airtel Ghana Ltd. has announced it is offering a new mobile funds-transfer service in collaboration with Databank Financial Services Ltd., a local stock-trading portal.

Credit card debt rose 1% to $6,513 in September while credit scores nationally dropped four points to 663 during the third quarter ended September 30, according to Credit Karma's latest U.S. Credit Score Climate report.

Despite sluggish economic growth and worrisome unemployment rates, certain indicators on the eve of payment card issuers releasing third-quarter results suggest credit and debit card purchase volumes remained relatively healthy through September, according to two new reports from New York-based equity firm Keefe, Bruyette & Woods.

The Southeastern Pennsylvania Transportation Authority is close to awarding a contract for its open-loop contactless fare collection system.

Participants in a large international credit card-skimming ring allegedly stole credit card data from thousands of U.S. and European consumers over a 16-month period, resulting in at least $13 million in losses, the Queens, N.Y. district attorney’s office announced.

As competition intensifies in the fast-growing prepaid market, Green Dot Corp.’s new partnership with the Blackhawk Network will land the card provider’s products in some 10,000 additional retailers within the next 24 months.

Seeking to drive company growth with vendors and ISOs equipped with common sales tools and certifications, NCR Corp. has created a new global partner program, a company executive says.

No matter how rewarding a credit card is, redeeming points can often be a hassle involving complex math and mailed vouchers – except at Amazon.com, where a growing number of issuers let users spend rewards points as easily as cash.

Participants in a large international credit card-skimming ring allegedly stole credit card data from thousands of U.S. and European consumers over a 16-month period, resulting in at least $13 million in losses, the Queens, N.Y. district attorney’s office announced Oct. 7.