In brief

2 September 2021

Banca March has announced an agreement with Mastercard whereby the bank will become the first Spanish issuer of sustainable cards certified by Mastercard.

Incorporating this product, which is made from recyclable plastics, is part of Banca March's commitment to sustainability and environmental protection in all areas of activity.

The sustainable cards have a certified badge that allows consumers to identify them, and are verified according to an independent certification process that evaluates sustainability claims.

Only cards that significantly reduce energy or material consumption, carbon footprint or waste will be certified. Each year, the benchmarks will be enhanced as overall sustainability levels improve, further contributing to better environmental management.

Mastercard has made several commitments to sustainability. In 2020, the company created the Priceless Planet Coalition, which joins the efforts of merchants, banks, cities and consumers to restore 100 million trees and stop climate change.

1 September 2021

Apple has announced that it is working with several US states to roll out the ability for residents to seamlessly and securely add their driver’s licence or state ID to their Apple Wallet on iPhone and Apple Watch devices.

Arizona and Georgia will be the first states to introduce the new innovation, with Connecticut, Iowa, Kentucky, Maryland, Oklahoma and Utah to follow.

The Transportation Security Administration will enable select airport security checkpoints and lanes in participating airports as the first locations customers can use their driver’s licence or state ID in the Apple Wallet.

30 August 2021

JP Morgan Chase and Visa have announced that through September, when passengers in New York tap on MTA subways or buses with a Chase Visa contactless card, they will donate $0.10 per tap, up to $250,000, to local non-profit New York Cares.

New York Cares is the city's largest volunteer network, and has been vital in supporting the local community throughout the pandemic.

Visa’s Future of Urban Mobility study found that 88% of surveyed riders globally expect contactless payment options on transit. 

Tap-to-pay usage on MTA public transport is currently up more than 225% since the start of the year.

24 August 2021

Interactive Brokers Group, a global brokerage firm, has announced the launch of the Interactive Brokers Canada (IB Canada) Prepaid Mastercard.

The Mastercard expands the cash management benefits available to IB Canada clients, adding the ability to offset transactions against IB account balances.

IB Canada clients can currently trade securities in over 135 global markets via powerful trading software at some of the lowest costs in the industry via the Interactive Brokers’ Integrated Investment Account.

“Interactive Brokers’ advantage has always been our low-cost, advanced trading tools, and breadth of product worldwide for sophisticated individual traders and DIY investors,” said Jean-François Bernier, MD at Interactive Brokers Canada.

23 August 2021

CompoSecure Holdings, a major provider of premium financial payment cards and emergent provider of cryptocurrency storage and security solutions, has announced that it will manufacture a new crypto rewards credit card for Gemini.

Crypto platform Gemini is working with Mastercard and WebBank, the issuer and lender, on this innovative rewards credit card that will allow cardholders to earn up to 3% back on purchases in bitcoin or the more than 40 cryptocurrencies available on Gemini.

The Gemini crypto rewards credit card demonstrates how the blockchain and cryptocurrency market category is being supported by banks with innovative financial products.

Bank of America recently reported that 21% of banks have incorporated some form of blockchain technology into their businesses. They include JPMorgan, Citibank, Wells Fargo, US Bank and Signature Bank.

19 August 2021

American Express has received the number one ranking for customer satisfaction among US credit card issuers, according to JD Power's 2021 US Credit Card Satisfaction Study.

In the study, Amex scored 838 on a 1,000-point scale, surpassing the national issuer average by 29 points. Amex ranked highest in several areas including communication, benefits and services, and key moments.

“On behalf of all our colleagues, we are honoured to earn the top spot among national issuers in the JD Power US Credit Card Satisfaction Study for a second year in a row,” said Amex chair and CEO Stephen J Squeri.

“This recognition reflects the tremendous work of our colleagues and their commitment to delivering the highest levels of customer satisfaction. We thank our customers for placing their trust in us every day and for recognising what makes being with American Express so special.”

17 August 2021

i2c, a leading global provider of payments processing technology and digital banking solutions, has announced that it is working with Visa to launch POS instalment capabilities for participating issuers in North America.

Through this new collaboration, issuers and participating merchants can have an accelerated path to buy now pay later (BNPL), promoting a consistent cardholder experience.

Visa Instalments enables issuers to offer instalment plans for cardholders under existing credit account lines, and for participating merchants to display instalment plans to eligible cardholders.

With Visa Instalments, shoppers may have more choice and flexibility in how they pay for purchases.

Given its global rise in popularity, BNPL is forecast to account for approximately $680bn in transaction volume worldwide in 2025.

17 August 2021

OneBlinc has announced the launch of a new Mastercard debit card that offers fair financing options to the over 22% of US households that are unbanked or underbanked, according to a report by the Federal Reserve.

Alongside the new debit card offering, OneBlinc is also debuting its free OneBlinc checking account service.

OneBlinc, the disruptive fintech that drew industry attention in 2019 by offering instant loans to poor-credit individuals through its proprietary scoring algorithms, has since expanded its portfolio of fair financing products, including salary advances and overdraft protection.

The announcement is the next step in the company’s mission to elevate the underserved, while giving them access to the latest in payment technologies. The new offerings can help customers better manage finances, as debit cards provide an easy way to track and control money.

13 August 2021

CPI Card Group, a payment technology company and leading provider of credit, debit and prepaid solutions, has announced that it has provided written notice to the Toronto Stock Exchange regarding the voluntary delisting of its common stock from the TSX.

The company believes that the trading volume of its stock on the TSX no longer justifies the expense and administrative efforts associated with maintaining the listing, especially given CPI’s recent listing on the Nasdaq Global Market.

CPI said that its Nasdaq listing provides stockholders with good liquidity, and the savings in exchange fees, legal fees and managerial time and effort to maintain a dual listing can be redirected into further advancing the company's operations.

CPI’s Canadian stockholders may trade existing shares through brokers on Nasdaq. Stockholders holding shares in Canadian brokerage accounts should contact their brokers for more details.

1 September 2021

In response to recent events in Afghanistan, American Express has committed $100,000 to the International Rescue Committee (IRC) to support critical in-country humanitarian assistance for Afghan civilians and the resettlement of Afghan refugees.

The IRC has worked in Afghanistan through three decades of crisis, providing millions of people with shelter, education, clean water, health support and other aid, and is committed to remaining in Afghanistan to support Afghan civilians and refugees.

Acknowledging the commitment of all US and allied forces that have served in Afghanistan and around the world, Amex is providing $50,000 to Iraq and Afghanistan Veterans of America, which has supported veterans who have served in Afghanistan and Iraq since 2004.