Visa/PayPal Partnership Middle East/Africa · PDF file2016 HSN Consultants, Inc. THE NILSON...

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Top U.S. Consumer Credit/Debit IssuersThe largest U.S. issuers of Visa and Mastercard credit and debit/prepaid cards based on consumer purchase volume in 2015 are shown on the table on page 7. Purchase volume does not include

Middle East/Africa Cards — 2015Visa, Mastercard, American Express, and Diners Club brand credit, debit, and prepaid cards issued in the Middle East and Africa region generated $839.93 billion in total volume in 2015. Total volume, which includes purchases for goods and services combined with cash transactions at ATMs and over the counter at branches, increased 14.3% from 2014. Purchase volume for goods and services only from these general purpose card brands grew 15.2% to $306.98 billion. Cash volume of $532.95 billion accounted for

Masterpass Goes OmnichannelSince Masterpass, Mastercard’s digital payment service, was launched in 2013 for ecommerce, it has grown to be a merchant acceptance mark available at 270,000 online and in-app sellers

Gemalto/Worldline Mobile Card PartnersWorldline provides end-to-end account processing services to payment card issuers in Europe and Asia. Through a partnership with Gemalto, Worldline will support card issuer participation in

Installment Payments for Mobile Web PurchasesProviding consumers the opportunity to make installment payments for items that range in value from $100 to more than $10,000 is the business of Affirm, an online acceptance mark.

Top 50 U.S. Prepaid Card IssuersThe 50 largest issuers of Visa, Mastercard, and Discover brand general purpose prepaid cards in the U.S. accounted for $145.03 billion in purchase volume at merchants in 2015, an increase of

Visa/PayPal PartnershipA new agreement between Visa and PayPal will send more card payments over the Visa network and expand PayPal’s reach into in-store sales in the U.S. PayPal will no longer solicit consumers

Mastercard to Purchase VocaLinkMastercard will acquire 92.4% of U.K.-based real-time payments specialist VocaLink for $920 million (£701 million). That company’s current shareholders could receive up to an additional

7 Largest U.S. Issuers of Consumer Visa and Mastercard Cards — 2015

8 Prepaid Cards in the U.S. — Top Issuers in 2015

10 Purchase Transactions on Cards Issued in Middle East/Africa

11 Middle East/Africa General Purpose Cards 2015 vs. 2014

2 – 4 Fast Facts 5 Kerv Contactless Payment

Ring 6 Mastercard’s New Look

INSIDE CHARTS

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Market Shares

Purchase Volume ($Bil.)

© 2016The Nilson Report

Middle East/AfricaPurchase Volume 2015 vs. 2014

http://www.nilsonreport.com

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Conferences & Seminars

Mobile Payments Conference 2016 (MPC): August 29-31, 2016. The Renaissance Chicago Downtown Hotel, Chicago, Illinois. Estimated attendance: 300. Cost for the three-day conference is $899 until August 28 ($999 after that). Subscribers to The Nilson Report will receive a 20% discount. (Use code MPC16NIL.) Contact Robin Albright at MP Associates, (303) 530-4562, robin@ mpassociates.com. Register at www.mobilepaymentconference.com.

2016 WSAA Annual Conference: September 14-15, 2016. The Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch, Scottsdale, Arizona. Estimated attendance: 1,000. Cost for the two-day conference is $99. Contact Xavier Ayala, President & CEO, (707) 445-5401, [email protected]. Register at www.westernstatesacquirers.com.

SCA – Security of Things 2016: October 18-19, 2016. The Hilton Rosemont/Chicago O’Hare, Rosemont, Illinois. Estimated attendance: 300-350. Cost for the two-day conference is $795 until August 31, then $895 until October 8, then $1,045 after that. Subscribers to The Nilson Report will receive a 20% discount. (Use code NILSDISC.) Contact Bryan Ichikawa at SCA, (703) 582-7862, bichikawa@ smartcardalliance.org. Register at www.sca-securityofthings.com.

VERIFONE has launched Curb, a ride-hailing app for taxis in New York, Philadelphia, Miami, Ft. Lauderdale, San Jose, and the Washington, D.C. area. Now live in 65 cities, Curb connects more than 50,000 taxis and 100,000 professional taxi drivers. Amos Tamam is SVP, Global Taxi Systems at Verifone, (917) 359-1984, [email protected], www.gocurb.com.

FIFTH THIRD BANCORP has joined the Allpoint Network, the world’s largest surcharge-free ATM network, adding 43,000 new ATM locations across the United States for the bank’s customers. Chad Borton is EVP and Head of the Consumer Bank at Fifth Third Bancorp, (513) 534-0630, [email protected], www.53.com. Bill Knoll is EVP and Managing Director at Allpoint, (832) 308-4259, [email protected], www.allpointnetwork.com.

ELAN FINANCIAL SERVICES, a division of U.S. Bank, provides ATM and debit processing to banks and credit unions. It has launched a suite of mobile services that allow cardholders to control how their debit card can be used, including turning off their card if it is misplaced, setting location controls to indicate where the card can be used, re-stricting online purchases, setting spending restrictions, and more. Troy Cullen is President at Elan Financial Services, (630) 443-3238, [email protected], www.elanfs.com.

THE U.S. PAYMENTS FORUM is the new name for the EMV Migration Forum. The U.S. Payments Forum will address payment technologies that protect the security of, and enhance opportunities for, payment transactions within the U.S., including EMV chip technology, tokenization, card-not-present transactions, point-to-point encryption, and mobile and contactless payments. Membership includes global and domestic payment networks, card issuers, pay-ment processors, merchants, acquirers, vendors, and others. Randy Vanderhoof is Director, (609) 587-4208, [email protected], www.emv-connection.com.

TABLESAFE’S patented RAIL 2 payment system for restaurants has received PCI PTS certification. RAIL accepts mag-stripe, EMV (chip and signature, and chip and PIN), NFC (Apple Pay, Android Pay), QR/UPC code, and payment card network mobile payment applications. Steve McKean is President at Tablesafe, (206) 516-6100, smckean@ tablesafe.com, www.tablesafe.com.

WEX, provider of corporate payment products, has concluded an agreement with global insurance technology provider Aquarium Software, which specializes in niche sectors including pet, travel, and gadget. WEX virtual pay-ment products are available in 45 currencies and are used in 190 countries. Renata Caine is VP, Virtual Payments at WEX, (650) 954 8154, [email protected], www.wexvirtualpayments.com.

SEQUENT SOFTWARE has received Payment Card Industry Data Security Standards (PCI-DSS) Version 3.1 for Service Providers Level 1 certification. Lance Johnson is Chief Security Officer at Sequent, (650) 241-3765, [email protected], www.sequent.com.

FIRST DATA has given Class B+ certification on its Omaha platform to payment acceptance software from Ingenico Group that supports EMV Tip Adjust and Common AID for PIN-based transactions. Bernie Frey is SVP of Indirect Sales, US at Ingenico Group, (678) 456-1822, bernie.frey@ ingenico.com, www.ingenico.com.

BANK OF THE WEST, the 25th largest debit card issuer and 57th largest credit card issuer on the Mastercard and Visa networks, will offer cardholders a mobile wallet in partnership with Mastercard. The bank will also give card-holders access to Masterpass, Mastercard’s global digital payment service. Paul Appleton is EVP, Consumer Banking Product and Payment Solutions at Bank of the West, (925) 942-8300, [email protected], www.bankofthewest.com.

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FACT

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ELAVON, the 5th largest U.S. acquirer, has renewed its merchant payment processing agreement with Capital Bank, which operates 152 branches in the Southeast U.S. Guy Harris is President, North America, at Elavon, (678) 731-5070, [email protected], www.elavon.com. Zahid Afzal is Chief Technology and Operations Executive at Capital Bank, (919) 645-0868, [email protected], www.capitalbank-us.com.

ALLIANCE DATA CARD SERVICES will purchase The Children’s Place private label credit card portfolio and will launch and manage a new loyalty and private label credit card program for the children’s clothing brand. Melissa Miller is President at Alliance Data Card Services, (614) 729-4900, [email protected], www.alliancedata.com.

FIRST DATA and BYPASS have formed a partnership to bring EMV- compliant card acceptance to food and beverage concessions at stadiums, arenas, and concert venues. First Data contributes its Clover family of point-of-sale devices and business management software. Bypass provides back-office software specific to those vendors. Brandon Lloyd is CEO at Bypass, (512) 217-5545, [email protected], www.bypassmobile.com. Dan Charron is EVP, Head of Global Business Solutions at First Data, (404) 890-2000, [email protected], www.firstdata.com.

SURETAP a mobile payment venture in Canada of mobile network operators (MNOs) Bell, Telus, Koodo, and Virgin, has been shut down. Softcard in the U.S. and Semble in New Zealand, mobile payment ventures of MNOs, also shut down this year.

AMERICAN EXPRESS SERVE, a reloadable prepaid account that offers free direct deposit, online bill pay, and ATM withdrawals (24,000+ MoneyPass locations), will be used by Marketing Innovators, a global incentive company to disburse payments, commissions, incentives, rewards, and expense reim-bursements. Stefan Happ is EVP, Alternative Payments at American Express, (212) 640-2000, [email protected], www.americanexpress.com. Richard Blabolil is President at Marketing Innovations, (847) 696-1111, [email protected], www.marketinginnovators.com.

“CONTACTLESS EMV PAYMENTS: BENEFITS FOR CONSUMERS, MERCHANTS AND ISSUERS” is a new white paper created by the Smart Card Alliance’s Payments Council. It can be downloaded at http://www.smartcardalliance.org/publications-contactless-emv-payments-benefits-for-consumers-merchants-and.issuers/.

IDSCAN.NET, provider of cloud-based ID scanning applications called VeriScan Online and VS Max, now offers fully integrated payment processing. Businesses can process card payments and automatically capture and link them to the purchaser’s ID. It allows two separate actions to be processed as one entry. Denis Petrov is CEO, (504) 434-0222, [email protected], www.idscan.net.

CAP COM FEDERAL CREDIT UNION will use Vantiv to provide debit, credit, and prepaid card account processing. The credit union has 126,000 members. Bill Hampton is General Manager, Financial Institution Services at Vantiv, (913) 254-7781, [email protected], www.vantiv.com. Diana VanAmerongen is Chief Banking Officer at CAP COM FCU, (518) 458-2195, [email protected], www.capcomfcu.org.

ACI WORLDWIDE’S SaaS-based UP eCommerce Payments provides merchants worldwide with more than 350 alternative payment methods and connections to acquirers in over 160 countries, as well as plug-ins to all major ecommerce shopping carts. Also included is fraud fighting capabilities. Mike Braatz is Chief of Product Officer, (781) 370-3600, michael.braatz@ aciworldwide.com, www.aciworldwide.com.

Ray Wizbowski has been appointed Chief Marketing Officer at Entrust Datacard, (952) 988-1279, ray.wizbowski@ entrustdatacard.com. Julie Yang has been appointed Senior Vice President, Core Business, China at Mastercard, 86 (21) 6105-1900, [email protected]. Shawn Zheng has been appointed Senior Vice President, Account Management, China at Mastercard, 86 (10) 8519-9300, shawn.zheng@ mastercard.com. Yvonne Stelpflug has been appointed Vice President of Operations at TMG, (515) 457-2000, [email protected].

Management Changes

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a 2016 Nilson Report Publication

8th Edition

Figures include cards in circulation and spending Credit & Debit Card Issuers in 115 Countries from all World Regions

Asia/Pacific, United States, Europe, Canada Latin America, Middle East/Africa

Merchant Acquirers in 76 Countriesfrom all World Regions

Order Todaywww.nilsonreport.com/specialreport

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LLOYDS BANKING GROUP has renewed its agreement with TSYS to continue processing commercial card accounts in the U.K. The group has more than 30 million customers. It operates under the Lloyds Bank, Bank of Scotland, and Halifax brands. Jennie Hill is Head of Commercial Cards at Lloyds Banking Group, 44 (207) 574-8148, [email protected], www.lloydsbankinggroup.com. Rob Hudson is Group Executive at TSYS International, 44 (190) 456-2025, [email protected], www.tsys.com.

ENTERSEKT’S authentication and mobile app security product, Transakt, delivers a user-friendly adaptation of the 3-D Secure merchant checkout service through a consumer’s smartphone. Netcetera, a Swiss software company and provider of 3-D Secure service at its PCI DSS-certified data center, will offer the technology to its clients. Schalk Nolte is CEO at Entersekt, 27 (21) 815-2800, [email protected], www.entersekt.com. Thomas Fromherz is Head of Payment and Card Services at Netcetera, 41 (44) 297-5818, [email protected], www.netcetera.com.

AMADEUS, a travel technology company, has launched Amadeus B2B Wallet Prepaid, a virtual card product for travel agencies to pay their suppliers. Ixaris is the card program manager. Its payment platform enables Amadeus to source virtual cards through multiple issuers. Celia Pereiro is Head of Travel Payments at Amadeus, 34 (91) 177-1034, [email protected], www.amadeus.com. Alex Mifsud is CEO at Ixaris, 44 (207) 025-5545, [email protected], www.ixaris.com.

SELECTA, Europe’s largest operator of vending machines with more than 150,000 in 18 countries, is deploying Ingenico contactless terminals as well as that company’s omnichannel transaction management platform. One benefit is instant refunds to a payment card account. Refunds account for 1% to 3% of total vending sales, and their processing cost is sometimes higher than the value of the merchandise refunded. Guillaume Pascal is Managing Director Ingenico France, 33 (1) 4625-8200, [email protected], www.ingenico.com.

AUSTRIA CARD manufactured contactless and dual interface cards, as well as NFC-based key fobs, stickers, and bracelets, have received FIDO certifica-tion for EMV smart payment cards. FIDO Alliance’s more than 200 company and government agency members share technology and collaborate to develop open specifications for universally strong authentication. Bernd Eder is Head of R&D at Austria Card, 43 (1) 6106-5133, [email protected], www.austriacardag.com.

MONERIS SOLUTIONS, the largest merchant acquirer in Canada and the 20th largest in the U.S., has relaunched the Moneris Developer Portal for ecommerce and mobile developers that want payment integration tools. It offers full search capabilities, an interactive knowledge base, and regular blogs. Rob Cameron is Chief Product Officer, (416) 734-8954, [email protected], www.moneris.com.

U.K. COMPETITION APPEAL TRIBUNAL has ruled that Mastercard must pay $90 million (£68.6 mil.) to supermarket chain Sainsbury related to litiga-tion over interchange fees. Mastercard expects to take a pretax charge of approximately $90 million (U.S.) as a special item in its second quarter 2016 financial results.

FIME has been accredited by JCB to support issuing banks with JCB EMV migration and certification projects to confirm that their contactless, mobile J/Speedy v3.0 products are personalized correctly. Arnaud Peninon is VP - Asia-Pacific and Global Laboratories at Fime Asia, 886 (2) 6636-0430, [email protected], www.fime.com.

MASTERCARD will offer Apple Pay to issuers in France, along with the Mastercard Digital Enablement Service, which creates a unique device account number (token) that is encrypted and stored in the secure element on the iPhone or Apple Watch. Bart Willaert is General Manager, France at Mastercard, 33 (1) 4273-8104, [email protected], www.mastercard.com.

COMPUTOP, a payment service provider that processes $17 billion annually for more than 10,000 large international merchants and other partners, now offers those customers the Amazon Payments interface, used by more than 300 million Amazon customers in online stores worldwide. Ralf Gladis is CEO at Computop, 49 (951) 980-090, [email protected], www.computop.com.

INGENICO EPAYMENTS has made its Ingenico Connect and developer hub available to any online business at its GlobalCollect platform. Businesses benefit from the international payment methods, multicurrency management, and multiple languages for checkout. Ludovic Houri is VP Product, 33 (6) 0715-4992, [email protected], www.ingenico.com/ePayments.

SUVIDHAA INFOSERVE, which provides money transfer, prepaid cards, and bill payment services in India to 35 million people, has opened its network of 90,000+ retail outlets to consumers wanting to recharge their MobiKwik mobile wallets. MobiKwik has 30 million users who can use their wallets to pay at 75,000 retailers. Paresh Rajde is Founder at Suvidhaa Infoserve, 91 (98) 2104-9194, [email protected], www.suvidhaa.com. Bipin Preet Singh is CEO at MobiKwik, 91 (783) 869-3548, [email protected], www.mobikwik.com.

Featured Conference

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Topics include: payment channels, cybersecurity, faster payments, strategy and innovation, and same day ACH. Speakers represent: Federal Reserve Bank, WesPay, JPMorgan Chase, ECCHO, G2 Web Services, Ensenta, EZForex, and more. Cost is $895 (member); $1,395

(nonmember). (Use discount code 16PSNR.) Contact Kari Patrick at Professional Development Group, (812) 339-6374, kpatrick@ prodevmeetings.com. Register at www.paymentssymposium.org.

Subscribers to The Nilson Report will receive a 20% discount.

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Wearable technology company Kerv has developed an NFC-based contactless payment ring that links to a deposit account at PSI-Pay, a Mastercard-licensed payment institution. Users are also given the choice of a plastic prepaid Mastercard card for in-store purchases or a virtual Mastercard number if they want only an online payment option. The Mastercard products can be

funded via PayPal, a bank transfer, or a credit or debit card.

Kerv rings are made of zirconia ceramic, which does not interfere with the electromagnetic field

that powers their contactless functionality. Available in black or white with a range of colors inside, rings are waterproof, hypoallergenic, scratch-resistant, and do not need to be charged. They cost $65.50 (£49.99).

The Kerv app, available for iOS and Android handsets, can be used to turn a ring on and off for added security,

but the ring does not need to be paired with a smartphone to enable a payment. In addition to EMV-compliant Mastercard payments, rings can also initiate

proprietary Oyster card payments for Transport of London.

Kerv will begin shipping rings

at the end of this month. The company is looking for partners

interested in promoting its rings

along with future products, including bracelets and watches.Phil Campbell is CEO at Kerv in

London, United Kingdom,

44 (20) 8133-1654, [email protected],

www.kerv.com.

Phil Davies is Managing Director

at PSI-Pay in Horsham, United

Kingdom, 44 (1403) 788-331, phild@

psipay.com, www.psipay.com.

from 33 countries. Now it has expanded beyond ecommerce to be completely omnichannel, adding acceptance at the point of sale as well as on the mobile web and in a mobile app with everything operating on one integrated platform.

Consumers with Android devices will use Masterpass to pay at the more than 5 million in-store locations in 77 countries that accept NFC-based,

EMV-compliant contactless payments. Masterpass for Apple devices is not yet available for in-store

purchases. Merchants will use Masterpass APIs and SDKs to enable checkout on the mobile web and within mobile apps for Android and iOS.

Until now Mastercard has offered Masterpass directly to cardholders. The omnichannel version will launch through Masterpass mobile wallet partnerships with card issuers. Roll out began this month in the U.S. with Citi, Bank of America, Capital One, SunTrust, Fifth Third, KeyBank, Bank of the West, First Hawaiian, and eight other U.S. issuers.

Outside the U.S., MBNA in the U.K. and Absa in South Africa are recently announced Masterpass wallet customers. Other banks in Europe and the Middle East/Africa that have signed on to issue omnichannel wallets will be announced by year-end, with issuers in Canada,

...does not need to be charged or paired with a smartphone.

Consumers with Android devices can pay at over 5 mil. merchants.

Kerv Contactless Payment Ring

Masterpass Goes Omnichannelfrom page 1...

> see p. 6

http://www.kerv.com

http://www.psipay.com


Latin America & the Caribbean, and Asia–Pacific to follow in 2017. Existing commitments worldwide

represent 80 million Mastercard card accounts. All accounts can be automatically enrolled via their issuer’s online banking app.

Unlike Visa’s competing Visa Digital Commerce app, issuers can choose to integrate Masterpass wallet features with their existing mobile banking apps. They will use Masterpass APIs and SDKs to design and develop their own branded products.

Issuers store card details on Mastercard and other brands,

such as shipping information and payment preferences.

Cardholder credentials in a Masterpass wallet will always be in sync with Masterpass in all acceptance channels.

If a consumer adds a payment card in the

online channel, for example, it will immediately show up as an option for payments initiated by their smartphone.

Issuers have the option of offering consumers the ability to pay with reward/loyalty points at the point of sale. In the future, issuers will gain the ability to manage card

credentials on any future device such as automobile keys.

Masterpass provides dynamic ecommerce checkout buttons that can recognize a participating cardholder’s issuer and add the issuer’s brand to the checkout process. Merchants only need to add a single line of code for this upgrade. Pablo Cohan is Vice President,

Product Management at Mastercard

in Purchase, New York, (914) 249-

2000, pablo.cohan@mastercard.

com, www.mastercard.com.

$220 million (£169 million) if performance targets are met. The agreement, which will take three months or more to close, requires a majority of VocaLink’s shareholders, which are financial institutions in the U.K. including Barclays, HSBC, Lloyds, RBS, and Santander, to retain 7.6% ownership for at least three years.

The U.K.’s Payment Systems Regulator, which wanted more competition in the local payment processing market, is expected to support the sale. VocaLink handles more than 90% of all salaries, 70% of all household bills, and nearly all government benefits transfers in the U.K.

VocaLink had revenues of $240 million (£182 million) for 2015, earned from processing more than 11 billion transactions from three payment platforms.

Bacs handles credit and debit payments between bank accounts for corporations, consumers, and governments.

Faster Payments is a real-time, account-to-account switch service available for mobile, internet, and telephone channels.

Link is a nationwide ATM switch and offers settlement services. VocaLink also offers Zapp, a

real-time mobile payment app that transfers funds between bank accounts. VocaLink also provides services to support faster ACH processing in Sweden, Singapore, Thailand, and the United States. Its U.S. partner is The Clearing House. Earlier this year,

DYNAMIC CHECKOUT

BUTTONS PRESENT AN

ISSUER’S CORPORATE LOGO WHEN

CARDHOLDERS MAKE A

PAYMENT ONLINE Mastercard’s New Look

Mastercard to Purchase VocaLinkfrom page 1...

Masterpass Goes Omnichannelfrom page 5...

Pentagram, the inter-national design firm that updated visual identities for Verizon, Saks Fifth Avenue, New York Magazine, Hillary Clinton, and others, is responsible for Mastercard’s new look.

The new logo retains the paired circles that have been around since 1968, but they have gone from interlocking to

overlapping, which is how they originally appeared.

Also back is letter-ing that is entirely

lowercase, although the corporate name has been moved from within the circles to below them.

The flat design that eliminates shadows is in keeping with a growing trend that appears in revamped graphics for companies like Instagram and Uber.

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spending tied to commercial card products. The 50 largest issuers of credit cards in 2015 were listed in issue #1081. The 50 largest issuers of debit/prepaid cards in 2015 were listed in issue #1084.

Those top 50 credit and debit/prepaid card rankings combined consumer and commercial card products. The largest issuers of Mastercard and Visa commercial cards were ranked in issue #1089.

VocaLink won a contract in the Netherlands to support YourCash,

an independent ATM operator.With the acquisition,

Mastercard will gain access to nearly 100% of all checking accounts in the U.K., something it has lacked for several years as Visa dominates the U.K. debit card market. The six largest debit card

issuers — Lloyds, RBS/NatWest, Barclays, HSBC, Santander, and

Nationwide — are Visa clients. The acquisition will

bring Mastercard the Pay by Bank mobile app powered by Zapp. Barclays and the Lloyds Banking

Group (Lloyds, Bank of Scotland, and Halifax) are customers of Pay by Bank, which will launch as an online payment acceptance mark before year-end.

David Yates is

CEO at VocaLink

in London,

United Kingdom,

44 (203)

818-4600,

[email protected],

www.vocalink.com.

Gains access to deposit accounts at Barclays and Lloyds Banking Group.

Top U.S. Consumer Credit/Debit Issuersfrom page 1...

Consumer All Percent Basis Pt. Purch. Vol. Purch. Vol. Consumer Chg. vs.Rank Issuer (bil.) (bil.) 2015 2014

1 Wells Fargo $255.90 $287.00 89.17% –4 2 Bank of America $255.42 $290.35 87.97% –63 3 JPMorgan Chase $190.07 $204.76 92.83% 213 4 U.S. Bank $54.64 $59.06 92.52% 1 5 PNC $53.01 $59.30 89.40% 14 6 USAA $46.30 $46.30 100.00% — 7 Regions Bank $35.32 $37.93 93.12% 82 8 TD Bank $32.23 $36.17 89.11% 167 9 Navy FCU $29.74 $30.04 98.98% –8 10 SunTrust $27.73 $32.00 86.66% 35 11 Capital One $27.17 $28.40 95.65% –3 12 BB&T $25.90 $30.08 86.10% 3 13 Fifth Third $24.61 $26.71 92.14% 27 14 Citibank $22.83 $28.41 80.33% 63 15 The Bancorp Bank $18.63 $39.99 46.59% –601 16 Citizens Bank $17.33 $19.80 87.53% 0 17 ICBA Bancard $16.69 $16.69 100.00% — 18 Green Dot $16.06 $16.06 100.00% — 19 MetaBank $13.37 $27.98 47.79% 30 20 State Empl. CU N.C. $11.58 $11.58 100.00% — 21 M&T Bank $10.99 $12.03 91.36% –22 22 KeyBank $10.22 $11.49 88.91% –4

Consumer All Percent Basis Pt. Purch. Vol. Purch. Vol. Consumer Chg. vs.Rank Issuer (bil.) (bil.) 2015 2014

1 JPMorgan Chase $433.28 $541.88 79.96% 49 2 Bank of America $210.12 $285.31 73.65% –53 3 Citibank $177.48 $219.40 80.89% 5 4 Capital One $169.51 $210.33 80.59% –145 5 Barclays $64.31 $65.21 98.62% 13 6 Wells Fargo $61.93 $108.26 57.21% 140 7 U.S. Bank $52.14 $107.85 48.34% –43 8 Synchrony Financial $42.20 $42.20 100.00% — 9 USAA $35.69 $35.69 100.00% — 10 Cabela’s WFB $20.78 $20.78 100.00% — 11 Navy FCU $13.90 $13.98 99.40% –6 12 PNC $11.45 $27.88 41.08% –24 13 TD Bank $10.23 $11.49 89.00% 125 14 First Nat’l Nebraska $9.90 $14.05 70.44% 137 15 Alliance Data $8.67 $8.67 100.00% — 16 ICBA Bancard $5.85 $5.85 100.00% — 17 Fifth Third $5.41 $10.59 51.08% 4 18 Nordstrom $5.13 $5.40 95.12% –212 19 Credit One $5.06 $5.06 100.00% — 20 BB&T $4.63 $8.18 56.58% –21 21 State Farm $3.39 $3.69 91.66% –3 22 Pentagon FCU $3.21 $3.21 100.00% —

Debit card volume includes prepaid cards. Some prior year fi gures have been restated. © 2016 The Nilson Report

Credit Debit

Largest U.S. Issuers of Consumer Visa and Mastercard Cards 2015

http://www.vocalink.com

© 2016 HSN Consultants, Inc. THE NILSON REPORT8 VISIT US ONLINE AT WWW.NILSONREPORT.COM Order Back Issues / Preview Upcoming Conferences / View Newsletter Archive 9JULY 2016 / ISSUE 1091 / THE NILSON REPORT

13.0% over 2014. Spending was tied to 4.25 billion purchase transactions, an increase of 12.3% from the prior year. Purchases averaged $34 per transaction and $522 per card. Cash withdrawals at ATMs or obtained over the counter at financial institutions are not included in purchase volume shown in the table here.

There were 278.0 million Visa, Mastercard, and Discover branded prepaid cards in circulation from the 50 largest issuers at year-end 2015, an increase of 5.9% over year-end 2014. Cards were reloadable or one-time-only type issued with a specific monetary value.

Prepaid cards with Visa, Mastercard, and Discover brands include those bought by consumers for purchases of goods, healthcare costs, insurance premiums, and for travel/transportation/transit. They are also issued by corporations and governments for payroll, tax and other refunds, benefits programs, rebates/rewards, and corporate incentives.

The Bancorp Bank was the largest prepaid card issuer last year, a position it has held since 2012. However, its purchase volume market share among

the 50 largest decreased to 22.27% from 23.88% in 2014. The Bancorp Bank’s market share of cards in circulation was 29.94%, up from 28.65%. Its market share of purchase transactions was 18.04%, down from 19.73%.

MetaBank remained the second largest issuer, a position it has held since 2012. Its market share of purchase volume among the top 50 issuers increased to 19.27% from 16.35% in 2014. MetaBank’s market share of cards in circulation was 14.95%, up from 13.67%. Its market share of purchase transactions was 19.93%, up from 16.74%.

Comerica Bank remained the third largest issuer even though its market share of purchase volume among the top 50 issuers slipped to 11.30% from 11.60%.

Among the top 25, MB Financial had the largest increase in purchase volume (up 134.1%), followed by Fifth Third Bank (up 132.0%), Navy FCU (up 49.0%), Comdata (up 46.4%), BofI Federal Bank (also up 46.4%), MetaBank (up 33.1%), and PNC Bank (up 31.1%).

Prior issues: 1067, 1043, 1020

Apple Pay, Samsung Pay, Android Pay, and other mobile payment systems.

The largest payment card manufacturer in the world,

Gemalto is also a provider of the cloud-based Allynis Trusted Services Hub, which provides over-the-air provisioning of card credentials and applications to mobile wallets.

Gemalto links to handset manufacturers, mobile network operators (MNOs), and other wallet providers. Worldline joins other Allynis Trusted Services Hub customers including third-party processors Prosa in Mexico, DNP in Japan, InComm in the U.S., and Jetco in Hong Kong and Macau,

payment card issuers in Italy, France, and Spain, as well as mobile network operators including Vodafone, Orange, and NTT Docomo, and global and domestic card and alternative payment networks.

Gemalto earns revenue on a per-use and per-service basis for the Hub. The Hub’s host card emulation (HCE) software development kit (SDK) is certified by most global payment networks and select domestic networks. It lets issuers customize payment apps to receive and manage tokens.

The Worldline/Gemalto deal is global. Worldline will link its Token Service Provider platform, which

creates a token to replace a bank identification number, to Gemalto. Worldline will also provide cardholder identity verification and other services.

Visa has made Worldline the first processor in the world to receive certification for an in-house HCE token service.

Worldline will first use its in-house services to support four clients in France wanting Visa payWave

contactless payments on their customers’ Android handsets.

Worldline is the top payment card account processor in Germany and a

top seller of card account processing software in Asia.

Worldline, which is majority owned by Atos, reported revenue of $676.3 million (€614.8 mil.) for the first six months of 2016, up 6.0%.

Net income of $101.3 million (€92.1 mil.) was up 89.1%. That figure includes a gain of $56.3 million (€51.2 mil.) from shares in Visa Europe.

Worldline shares trade on the Euronext exchange.Philippe Cambriel is President for

Europe, Mediterranean and CIS at

Gemalto in Meudon Cedex, France,

33 (1) 5501-6280, philippe.cambriel@

gemalto.com, www.gemalto.com.

Wolf Kunisch is Head of the Global

Business Line Financial Processing

& Software Licensing and Managing

Director of Germany & CEE at Worldline

in Frankfurt, Germany, 49 (69) 6657-

1500, [email protected],

www.worldline.com.

Prior issues: 1070, 1063, 1060, 1053,

1050

Cards in circulation from the 50 largest issuers increased 5.9%.

... links to Apple, Samsung, Google, MNOs, and other wallet providers.

Top 50 U.S. Prepaid Card Issuersfrom page 1...

Gemalto/Worldline Mobile Card Partnersfrom page 1...

Includes Visa, MasterCard, and Discover prepaid cards. Some prior year fi gures have been restated.

Use percent change to calculate 2014 fi gures.© 2016 The Nilson Report

Prepaid Cards in the U.S. Top Issuers in 2015 Purchase Volume Cards Purchase Trans. Avg. Rank Company (mil.) Chg. (000) Chg. (mil.) Chg. Amt.

1. The Bancorp Bank $32,296.7 5.4% 83,228 10.6% 767.1 2.7% $42 2. MetaBank $27,942.2 33.1% 41,550 15.7% 847.1 33.7% $33 3. Comerica Bank $16,387.4 10.1% 12,652 1.7% 510.0 8.2% $32 4. Green Dot Bank $16,055.0 13.4% 4,500 –4.3% 565.0 10.1% $28 5. JPMorgan Chase $12,847.0 8.0% 11,160 8.5% 296.8 11.1% $43 6. Bank of America $6,767.3 5.5% 15,442 12.9% 220.9 4.7% $31 7. H&R Block $4,664.7 –8.5% 2,000 –14.8% 143.4 –6.0% $33 8. U.S. Bank $4,593.9 4.0% 19,726 8.2% 167.4 4.0% $27 9. UMB Bank $3,532.1 15.9% 6,034 11.3% 45.8 9.2% $77 10. MB Financial $3,089.5 134.1% 2,030 78.1% 133.1 117.4% $23 11. Wells Fargo $2,924.7 5.4% 11,851 14.5% 92.5 –1.4% $32 12. Citibank $2,782.8 –12.1% 12,501 –22.0% 124.9 –9.6% $22 13. BofI Federal Bank $2,121.4 46.4% 4,451 109.1% 73.7 26.1% $29 14. Sunrise Banks $1,492.2 10.9% 23,626 –19.6% 57.8 40.3% $26 15. Comdata $1,382.6 46.4% 3,742 4.1% 45.7 21.8% $30 16. PNC Bank $1,119.2 31.1% 4,942 12.9% 29.0 23.2% $39 17. HSA Bank $936.3 27.0% 2,112 105.7% 8.9 27.0% $105 18. Metropolitan Comm’l Bank $735.0 5.0% 5,250 5.0% 15.8 5.0% $47 19. BB&T $672.1 0.2% 570 1.4% 13.6 9.6% $49 20. Fifth Third $620.9 132.0% 1,901 27.6% 18.0 230.3% $34 21. Regions Bank $483.7 –6.7% 349 31.4% 14.9 3.8% $32 22. SunTrust Bank $341.2 –3.4% 874 –4.4% 15.1 –3.8% $23 23. Central Bank (Mo.) $301.2 –15.7% 260 –18.8% 12.4 –18.4% $24 24. TD Bank $196.2 6.5% 2,824 6.0% 7.3 10.8% $27 25. Navy FCU $135.2 49.0% 593 6.7% 4.9 11.2% $28 26. USAA $102.9 –14.2% 189 –6.0% 6.3 –13.3% $16 27. Commerce Bank (Mo.) $88.0 28.0% 106 24.9% 3.4 30.9% $26 28. KeyBank $86.7 199.1% 870 34.5% 1.1 22.4% $80 29. Arvest Bank $56.5 20.1% 74 –2.3% 1.8 21.5% $31 30. Synovus Bank $36.7 4.3% 26 –31.4% 0.9 4.6% $41 31. Patelco CU $33.2 –4.7% 42 –8.4% 0.3 –5.5% $110 32. BBVA Compass $27.9 18.0% 27 26.8% 0.9 22.4% $30 33. TIB-The Indep. BankersBank $25.2 –7.8% 262 20.0% 0.5 –7.7% $51 34. Kinecta FCU $22.4 –13.5% 53 –14.1% 0.5 –13.1% $43 35. State Employees’ CU (N.C.) $18.7 –1.4% 184 0.4% 0.8 –1.2% $23 36. BMO Harris Bank $17.4 6.4% 192 3.4% 0.5 4.5% $32 37. Intrust Bank $15.7 –3.4% 49 26.9% 0.6 78.8% $27 38. IBC Bank $14.6 –12.0% 13 –4.6% 0.3 2.9% $51 39. Zions Bancorporation $11.4 –11.4% 14 –0.5% 0.1 –45.7% $105 40. Hancock/Whitney Bank $8.0 17.2% 3 –3.7% 0.3 12.1% $30 41. First Citizens Bank $6.8 5.5% 55 6.4% 0.5 85.1% $14 42. Members 1st FCU $5.3 15.1% 98 6.9% 0.1 3.9% $41 43. First Tennessee Bank $5.3 –39.8% 23 13.5% 0.2 –33.9% $26 44. Umpqua Bank $4.8 48.1% 2 49.0% 0.1 46.0% $34 45. State Farm Bank $4.7 –11.2% 1,200 –36.4% 0.5 –9.5% $10 26. VyStar CU $3.1 –12.8% 131 18.4% 0.1 –7.8% $21 47. Old National Bank $2.8 –8.1% 110 –8.3% <0.1 –1.2% $35 48. Affinity Plus FCU $2.3 –9.2% 39 25.0% <0.1 –14.2% $31 49. Randolph Brooks FCU $2.2 8.3% 71 41.8% <0.1 11.2% $28 50. First National Bank Alaska $1.9 16.6% 1 6.9% <0.1 14.9% $143


http://www.gemalto.com

http://www.worldline.com


63.45% of total volume in 2015, down from 63.74% in 2014.

Visa purchase volume was up $21.82 billion (14.2%) over 2014. Mastercard purchase volume was up $17.58 billion (17.1%). Diners Club increased by $0.62 billion (20.0%), and American Express grew by $0.58 billion (8.1%).

Visa’s purchase volume market share declined 52 basis points to 57.12% and Mastercard’s increased

The company has contracts with more than 700 U.S. merchants. Customers are mostly people who

do not have the option of using a credit card or do not want to use one. They

provide their name, birth date, phone number, and the last four digits

of their Social Security number to Affirm, which uses traditional and nontraditional databases to handle underwriting. Affirm’s proprietary scoring models for personal data, merchant data, and item data have been fed by nearly two years of lending experience. Typically approvals are granted in less than 30 seconds after a customer’s details are entered. It has created a mobile device interface that now accounts for more than 50% of loans.

If approved, customers select 3, 6, or 12 monthly installments. Merchants receive payment in full within two days. They pay Affirm from 1.9% to 2.9% of the value of the sale. Affirm is licensed to offer loans in all 50 states through a partnership with Cross River Bank of Teaneck, New Jersey. Unlike most alternative lenders, the loans are held on Affirm’s balance sheet.

Consumers pay different finance charge rates ranging from 10% to 30%. Paying in 3 months is less expensive than 12 months. Finance charges are not compounded. They are based on simple interest. There are no balloon payments, hidden fees, or penalty fees. Before customers agree to the sale, Affirm lets them know the exact amount of every monthly payment. All communication between

Affirm and customers is by text message. Nearly half of all payments are facilitated by autopay from a checking account or debit card account.

Affirm sees its biggest market opportunity with the 75.4 million millennials (18 to 35 year olds). Fewer than half of the adults in this group have a Visa or Mastercard credit card. A majority have below average credit scores. Other opportunities exist with new citizens, more than 1 million every year, who do not yet have a full credit score, and more than 20

million people with bad credit who had average or better credit scores before the recession.

Affirm has received a total of $425 million in venture and capital market funding. It has more than 30 partnerships among acquirers who see installment credit as a value-added service to merchant processing contracts. Merchants can use Affirm tools to offer special promotions such as 0% financing over 12 months, which gives them a marketing offer that doesn’t involve lowering their prices. Merchants pay a higher discount rate to fund 0% financing offers.

Affirm also offers customers a virtual Mastercard product that can be used at any retailer from a mobile app. Cross River Bank is the issuer. Affirm purchased personal financial management app Sweep earlier this year to expand its reach beyond consumer loans. Carl Gish is Chief Marketing Officer at Affirm in San

Francisco, California, (415) 984-0490, [email protected],

www.affirm.com.

Affirm’s venture and capital market funding has reached $425 mil.

Middle East/Africa Cards — 2015from page 1...

Installment Payments for Mobile Web Purchasesfrom page 1

Purchase Transactions on Cards Issued in Middle East/Africa 2015 vs. 2020Purchase Transactions on Cards Issued in Middle East/Africa 2015 vs. 2020

©2016 The Nilson Report

Visa 2.32 3.87

Mastercard 1.89 3.41

Amex 0.06 0.08

Diners 0.03 0.04

4.29 7.40

2013

2018

61

61%

5246

1>

1>2020

201544 54

Brand 2015 (Bil.) 2020 (Bil.) Increase

67%

81%

47%

48%

132%

73%

MarketShare >


http://www.affirm.com


63 basis points to 39.14%. American Express’s share declined by 17 basis points to 2.53%. Diners Club’s share increased 5 basis points to 1.21%.

Cash accounted for 67.89% of total volume for Visa (down from 68.48%), 57.41% for Mastercard (up from 56.71%), 2.53% for American Express (down from 2.65%), and 2.08% for Diners Club (up from 1.96%).

Purchase transactions for goods and services generated by Visa, Mastercard, American Express, and Diners Club cards issued in the Middle East and/or Africa reached 4.29 billion, up 16.3%.

Visa and Mastercard cards generated 4.21 billion purchase transactions in 2015, which equaled 98.03% of the Middle East and Africa region total for all global brand cards, up from 97.99%.

Visa’s purchase transaction market share slid to 54.05% from 55.26%. Mastercard gained share to 43.97% from 42.74%. American Express’s share fell to 1.31% from 1.37%. Diners Club’s share increased to 0.66% from 0.64%.

Global brand credit, debit, and prepaid cards in circulation in the

Middle East and Africa at year-end 2015 totaled 246.2 million, up 12.7%. Visa and Mastercard cards accounted for 99.24%.

Mastercard added 19.9 million cards and its market share grew to 44.57% from 41.10%. Visa added 7.7 million cards and its market share fell to 54.67% from 58.10%.

Visa cards issued in the Middle East and Africa region accounted for 4.53% of all Visa cards in circulation worldwide at the end of 2015, up from 4.43% in 2014.

The Middle East and Africa region accounted for 2.53% of Visa’s worldwide purchase volume in 2015, up from 2.45% in 2014, and 1.84% of its purchase transactions, up from 1.81%.

Mastercard cards issued in the Middle East and Africa

region accounted for 6.97% of all Mastercard cards in circulation worldwide at the end of 2015, up from 6.33% in 2014.

The Middle East and Africa region accounted for 3.58% of Mastercard’s worldwide purchase volume, up from 3.42%, and 3.16% of its purchase transactions, up from 3.06%.

Purchase transactions reached 4.29 bil. in 2015, up 16.3%.

Volume (bil.) Transactions (mil.) Cards Brand Total Chg. Purchases Chg. Cash Chg. Total Chg. Purchases Chg. (mil.) Chg.

Visa $546.07 12.1% $175.35 14.2% $370.73 11.1% 4,630.2 10.2% 2,319.8 13.7% 134.6 6.0%

Mastercard $282.09 19.0% $120.15 17.1% $161.94 20.5% 2,841.1 20.8% 1,887.1 19.6% 109.7 22.2%

American Express $7.96 8.0% $7.76 8.1% $0.20 3.0% 58.1 11.5% 56.4 11.8% 1.4 8.3%

Diners Club $3.80 20.1% $3.72 20.0% $0.08 27.2% 28.7 19.6% 28.3 19.5% 0.4 0.2% Totals $839.93 14.3% $306.98 15.2% $532.95 13.8% 7,558.1 14.0% 4,291.6 16.3% 246.2 12.7%

Includes all general purpose consumer and commercial credit, debit, and prepaid cards. Currency fi gures are in U.S. dollars. Change fi gures are based on local currency. Some prior year fi gures have been restated. Includes Israel. Visa includes Electron. Mastercard excludes Maestro & Cirrus.

© 2016 The Nilson Report

Middle East/Africa General Purpose Cards 2015 vs. 2014

35%30%25%20%15%10%5%0%

-5%-10%-15%-20%-25%

©2016 The Nilson Report

Year-Over-Year Growth/Decline in PurchaseVolume* on Cards Issued in Middle East/Africa

Visa

Amex

Diners

Mastercard

‘01 ‘03 ‘05 ‘07 ‘09 ‘11 ‘13 ‘15

*in local currency


© 2016 HSN Consultants, Inc. THE NILSON REPORT All Rights Reserved. Reproducing or allowing reproduction or dissemination of any portion of this newsletter in any manner for any purpose is strictly prohibited and may violate the intellectual property rights of HSN Consultants, Inc. dba The Nilson Report.

to tie payments for goods purchased to Automated Clearing House (ACH)-based transactions that disintermediate the Visa network. Instead, it will give consumers the opportunity to position a Visa card as their preferred payment option for PayPal transactions in any channel

— online, in store, mobile web, and in app. PayPal will design customer notification strategies to communicate that fact.

Last year, there were 4.28 billion (up 13.4%) transactions through the ACH classified as “Internet.” That category includes PayPal wallet payments to merchants. Firm figures for PayPal are not available. However, it is known that a majority of ACH Internet payments are for insurance premiums. The Nilson Report estimates PayPal accounts for 30%. Visa held a 76% share of debit card spending in the U.S. versus Mastercard from 36.85 billion Visa debit card purchase transactions. When some of PayPal’s ACH transactions move to cards, the Visa network and its issuers could see an increase of up to 1 billion transactions.

PayPal will join the Visa Digital Enablement Program (VDEP) to gain access to the Visa token service. Other payment facilitators in VDEP include Samsung and Alphabet (Android Pay). The ability to request a token from

Visa opens all Visa payWave contactless POS terminals in the U.S. (and worldwide) to PayPal wallets in Android smartphones.

This puts PayPal on par with Apple Pay, Samsung Pay, Android Pay, and mobile wallets from Visa and Mastercard.

Any merchant with a Visa payWave terminal will be able to handle a PayPal wallet transaction. When transactions occur at a merchant with which PayPal does not have an existing relationship, the payment will be handled by the merchant’s existing acquirer. If there is a contract, PayPal will deliver the transaction to Wells Fargo Merchant Services, which acquires card payments for PayPal.

Venmo, PayPal’s person-to-person money transfer service, also gets access to the Visa token service, supporting its repositioning to a more comprehensive mobile wallet product. What is only true for in-app sales today could include in-store sales tomorrow.

Visa and PayPal have agreed to provide U.S. consumers the opportunity to move money into and out of their PayPal and

Venmo accounts to their bank accounts via their Visa debit cards. This bi-directional service will disintermediate the ACH. Consumers will gain increased liquidity because the Visa service is faster than the ACH.

The new deal will also shore up a minor problem in the current exchange of data between the companies on PayPal transactions involving Visa cards. Some smaller web sellers are classified as “miscellaneous.” The new deal calls for coding them with a specific merchant category. Issuers will benefit from transactions that qualify for higher interchange. Cardholders could benefit from transactions that qualify for rewards points.

PayPal’s contract with Visa is not exclusive. Similar deals will be completed with the other card networks. Visa and its issuers do have a 12-month exclusive on marketing initiatives tied to the new partnership.

PayPal has received financial incentives from Visa for increased volume. Visa has also promised PayPal price stability. Jim Magats is Head of Global

Core Payments at PayPal in

San Jose, California, (408) 967-

1000, [email protected],

www.paypal.com.

Venmo, PayPal’s P2P money trans-fer service, also gets Visa tokens.

Visa/PayPal Partnershipfrom page 1...

David Robertson, PublisherJuly 29, 2016


http://www.paypal.com

Visa/PayPal Partnership Middle East/Africa · PDF file2016 HSN Consultants, Inc. THE NILSON...

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