The “digital wallet” will store the banks’ customers’ credit and debit card account information, both for Visa cards and other cards.
The world’s largest credit and debit card processing network, Visa Inc, is building a digital wallet that people can use to pay for things online or with their phones instead of with traditional cards.
Continue reading… “Visa Plans to Launch Digital Wallet for Banks in the U.S.”
Consumers would wave their phones instead of swiping credit cards at the checkout counter.
The cellphone has been more than a cellphone for years, but soon it could take on an entirely new role — standing in for all of the credit and debit cards crammed into wallets. Instead of swiping a plastic card at the checkout counter, consumers would merely wave their phones.
J.P. Morgan Chase & Co. is mulling a $100 cap to help combat new rules.
Banks discussing limiting caps on debit-card transaction sizes may have a standard bearer in J.P. Morgan Chase & Co., which is mulling a $100 cap to help combat new rules.
Continue reading… “Banks Considering Cap on Debit Card Purchases”
The total number of credit cards issued by commercial banks in China has climbed as of this month to 210 million.
The China Banking Regulatory Commission (CBRC) has tightened the rules on the issuance and use of credit cards to limit misuse in business, as credit card usage explodes by 44% over last year.
Continue reading… “Credit Card Usage Explodes in China”
[youtube]http://www.youtube.com/watch?v=Iqvf0hXFQUg[/youtube]
Julian Assange, the WikiLeaks founder, today pledged to make public the confidential tax details of 2,000 wealthy and prominent individuals, after being passed the data by a Swiss banker who claims the information potentially reveals instances of money-laundering and large-scale illegal tax evasion.
Reloadable prepaid debit cards represent one of the fastest-growing segments of the financial services industry.
Last year, Michael Abukhader’s 12-year-old son, Jacob, received a $30 NASCAR prepaid Visa card from an aunt who thought it would provide a convenient way to give him cash for birthdays and other events. But once Abukhader, who lives in Queen Creek, Ariz., reviewed the terms of the card, he closed the account.
Continue reading… “Consumers Beware – Reloadable Prepaid Debit Cards Loaded with Fees”
Western nations matching China’s low-cost financing – below-market interest rates.
When General Electric approached the U.S. Export-Import Bank in 2009 wanting to sell 150 locomotives for $477 million to Pakistan, there was a sense of futility. GE had already lost an earlier bid to a Chinese firm. Why would Pakistan buy American-made locomotives this time?
Continue reading… “Western Nations Matching China’s Financial Strategy to Win Contracts”
By delving into the futuring techniques of Futurist Thomas Frey, you’ll embark on an enlightening journey.
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