Launched in 2012, the contactless bankcard
system was extended in 2014 to cover London s entire transit network including Tube, rail, bus and tram services.
Two-thirds of new bankcard
originations occurred among the Super Prime (781 - 850) and Prime (661-780) VantageScore tiers.
In the bankcard
sector in 2005, 51 percent of consumers with a new credit card had FICO scores less than 700.
A pilot involving 5,000 volunteers has been trialing contactless bankcard
payment across the rail network since April, and the pilot s success is behind today s launch.
Continuing a trend reflected by January-May 2011 data, the number of bankcard
originations for subprime* borrowers exhibits a sustained increase over 2010 levels, and now accounts for more than 31 percent of all bankcard
European MasterCard International decided that it would no longer take loss responsibilities caused by using the magnetic cards or the counterfeit cards from 2007 in Europe, which means the overall magnetic bankcards
used in Europe would be replaced by the smart cards since 2007.
In addition, total new bankcard
limits have risen as well, with increases of more than 27 percent (January - May 2011), and new subprime bankcard
credit limits experienced an increase of 68 percent.
8 Development and Investments in Chinese Integrated Circuit Bankcard
As expected, bankcard
delinquencies increased in the first quarter both as a national average and in most areas of the country," said Ezra Becker, director of consulting and strategy in TransUnion's financial services group.
Auto lenders and bankcard
issuers today face a similar challenge - the need to grow their business with good customers while cutting their risks and losses," said Lisa Nelson, vice president of Global Scoring at FICO.
Chapter One provides the background on the development of China's bankcard
amp; BEIJING -- It was less than a year ago that a landmark transaction at the famous Macy's Herald Square in New York City kicked off the first phase of a reciprocal acceptance agreement between Discover Financial Services LLC, a business unit of Morgan Stanley (NYSE:MS), and China Unionpay (CUP), China's only national bankcard