Restaurant Gift Card Sales Peaked Early

Restaurant gift card sales peaked earlier in the 2024 Thanksgiving weekend with shoppers purchasing 13.2% more in dollars per card on Black Friday and 17.7% more spent over the weekend while Cyber Monday sales remained flat vs. those same days in 2023, according to data from Paytronix.

Public Buses Now Allow Contactless Payment with Cards

For the first time, customers can now use contactless payment to purchase single fares with Iceland’s public transport service. Passengers can now hold their cards or phone to the scanners onboard the buses, buying them a single fare that lasts for 75 minutes.

Transit System Adopts Mobile Payment Service

Bus riders in Indiana, Pennsylvania, can now use smart cards to pay their fares with the debut of the transit system’s IndiGO Mobile Pay. Boston-based Modeshift Inc. designed the fare-collection system in conjunction with the Indiana County Transit Authority. Riders can use a mobile app to find routes, buy tickets and passes, and display a QR code to validate their fare when boarding a bus. Both iOS and Android versions are available.

Number of Payment Cards in Circulation 2017-2023, with a Forecast for 2028

The number of payment cards in circulation worldwide grew by nearly one billion between 2022 and 2023 and is forecast to increase further. The source adds that some of the largest brands on cards issued across the world include UnionPay, Visa and MasterCard. The figures provided concern credit, debit and prepaid cards that are issued either as general purpose or via private label.

Shifting Trends: Credit Cards and P2P Payments Take Center Stage

Financial institutions are adapting to attract younger savers, with payment preferences shifting. Credit cards have surpassed debit cards as the top choice, even among younger generations. Digital wallets and peer-to-peer services like Venmo and PayPal are also rising in popularity. Velera’s Eye on Payments study, now in its seventh year, analyzes these trends among credit union members and other financial institutions. It explores how consumer payment preferences evolve at different life stages. In a recent PaymentsJournal podcast, Velera’s Tom Pierce and Norm Patrick discussed the study’s findings and how credit unions can use them to better serve their members.

Logistics Leader Tests Zwipe Access Cards for Potential Deployment

One of France’s leading innovators in logistics, logistics platforms and transport has decided to test Zwipe Access biometric cards. The initiative, made possible through a collaboration with Zwipe AS, aims to enhance security measures at the logistics giant’s sites while streamlining access control systems.

Why Payment Ecosystems Must Not Leave Anyone Behind

Accessibility isn’t just an obligation in the finance space; it’s a pivotal engagement strategy driving societal inclusion, with no one left behind. Banks and financial institutions must therefore be proactive and take actionable steps to help prioritize this inclusion. A key starting point is the payment card. This often acts as the physical link between consumers and their banks.

Wisecard Brings EVC® Payment Processing Live to the Asian Market

Wisecard, a leading solution provider focusing on payment innovation, financial innovation, intelligent data and Internet-of-everything application platforms, announced the integration and availability of EVC dynamic card security code processing capabilities within its ABC platform. This advancement is made possible through a partnership with Ellipse World Inc., further enhancing security and convenience for cardholders.

South Korean Card Manufacturers All in on Idex Biometrics

Biosmart will move on to mass production of biometric payment cards based on Idex Biometrics’ platform after ICMA member Mastercard gave the go ahead. Based in South Korea, Biosmart manufactures over 50 million payment cards every year. It recently obtained a Letter of Approval from Mastercard for its biometric payment card built on the Idex Pay platform.

ID Cards Reintroduced for Channel Island Travel

Identification cards for members of the public have been reintroduced after being unavailable for a short period of time. The Youth Commission said the Bailiwick of Guernsey ID cards have been “modernized” and were pleased to re-offer the service. The charity said the card had been approved by local travel companies to allow travel to the other Channel Islands or to areas within the UK.

Seton Hall University Introduces Tap-to-Print

To further enhance campus security and streamline printing processes, the Department of Information Technology is pleased to announce the upcoming installation of new RFID readers on office printers located on the South Orange campus. These advanced NFC devices will replace the current card readers, allowing faculty and staff to securely access and release print jobs with a simple tap of their ID cards. The introduction of RFID readers aligns with Seton Hall’s commitment to improving security, simplifying user access, and fostering sustainable practices.

St. Louis City Alderwoman Proposes ‘Gateway Card’ as Municipal ID

A St. Louis Alderwoman is proposing an ordinance to create a Municipal Identification Card Program, known as a Gateway Card, to provide all residents access to a recognized form of government-issued photo identification. Board Bill 137 would allow city residents with the gateway card access to city services. Bill sponsor Alderwoman Daniela Velazquez said without a photo ID, there is often a barrier to access for people who have housing insecurity or have been recently incarcerated.

Jamaica Begins Rolling Out National ID

The national ID comes with certain benefits since it has a digital identity verification feature. For those opening bank accounts, for example, the card has the ability to verify identity on the spot, eliminating the need to present two or more forms of identification.

The Hybrid Consumer: Embracing the Best of Both Digital and Physical

As Gen Z—digital natives—favor a blend of digital and physical experiences, FinTech companies like Trade Republic seem to have found the sweet spot. Trade Republic, which recently launched its retail banking service, combines an almost entirely digital experience with a striking physical metal card featuring a reflective surface that acts like a mirror. Each time the customer uses the card, they see their own reflection. In an era of hyper-personalization, it’s hard to imagine that one can take personalization further than enabling the cardholder to see themselves reflected in the surface of the card each and every time they use it.

Self-Use Driving Growth of Closed-Loop Prepaid Cards Market

The closed-loop prepaid cards market is skyrocketing as organizations leverage prepaid programs to drive loyalty and engagement. While gift cards still anchor the prepaid space, the rising trend of self-use in stored-value accounts is propelling the closed-loop prepaid market to new heights.

Blackhawk Network Goes Green with Paper-Based Prepaid Cards

Blackhawk Network (BHN) has expanded its sustainability initiatives by transitioning its network-branded open-loop prepaid products from plastic to paper-based materials. This move aligns with Mastercard’s commitment to eliminating first-use PVC plastics from payment cards on its network by 2028. Initially launched in the US and Canada in 2023, the initiative is part of BHN’s ongoing global effort to reduce its environmental impact.