Latest news with #cardissuers
Finextra
02-06-2025
- Business
- Finextra
FIS and Kipp to counter the challenge of declined transactions due to insufficient funds
FIS (NYSE: FIS), a global leader in financial technology, today announced a strategic partnership with Letskipp Ltd. (Kipp), a collaboration platform for card issuers and merchants, to introduce an innovative non-sufficient funds (NSF) authorization solution to its debit clients. 0 This first-to-market offer is designed to combat the long-standing challenge of declined transactions due to insufficient funds, which can help issuers recover lost revenue and drive top-of-wallet status with customers. With this solution, FIS is unlocking growth for its card issuing clients by helping to streamline financial operations, reduce friction and improve efficiency. Industry data shows that the leading cause of card declines is insufficient funds, causing revenue loss, customer frustration and higher contact center costs. For merchants, these declines result in lost sales and wasted product and time. For issuers, declined transactions bring unpredictability at the point of sale for customers, increasing consumer frustration and impacting loyalty. The solution offers issuers the ability to approve transactions even when the available balance is insufficient - without imposing overdraft fees on consumers - by enabling merchants to voluntarily pay a premium to authorize NSF transactions. This reimagined economic model can generate additional revenue for issuers while helping to preserve the customer experience at the point of sale. Through this partnership, issuers can quickly take advantage of this interconnected solution, helping money move dynamically through debit accounts, card networks and payment systems. 'As money moves between merchants, companies, and financial institutions and card issuers, every transfer should be timely and seamless. This partnership underscores FIS' commitment to helping our clients unlock new revenue streams and deliver smooth payment experiences,' said Jim Johnson, co-president, Banking Solutions, at FIS. 'Our NSF authorization solution with Kipp tackles a key point of friction in the payments journey, helping issuers retain customers and drive long-term value throughout the money lifecycle.' "We're excited to join forces with FIS to bring our innovative NSF solution to a broader market," said Chanan Lavi, CEO and co-founder of Kipp. 'By reducing declines, we're helping merchants and issuers to deepen customer relationships, protect transaction volume and grow revenue, without burdening consumers.' This solution reinforces FIS' accomplishments in helping deliver efficient, end-to-end experiences for businesses to bring the world's money into harmony.
Yahoo
23-05-2025
- Business
- Yahoo
Switzerland Cards and Payments Market Opportunities and Risks Analysis Report 2025-2029: Instant Payment System SIC5 Revolutionizes Swiss Financial Transactions
Discover the latest trends in the Switzerland cards and payments market with the 'Switzerland Cards and Payments: Opportunities and Risks to 2029' report. Explore detailed market analysis, forecasts, consumer insights, and new regulatory frameworks. Navigate opportunities and risks to make strategic decisions. Dublin, May 23, 2025 (GLOBE NEWSWIRE) -- The "Switzerland Cards and Payments: Opportunities and Risks to 2029" has been added to offering. The report offers an in-depth analysis of market trends within Switzerland's cards and payments industry. It provides detailed values and volumes across key performance indicators, encompassing cards, credit transfers, cash, direct debits, and cheques for the period 2020-24e. This comprehensive examination extends to various payment card markets, offering insights on the number of cards in circulation as well as transaction values and volumes through both the review-period and forecast-period (2025f-29f). Additionally, the report sheds light on Switzerland's competitive landscape, detailing market shares of issuers and schemes. Leveraging the analyst's research, modeling, and expertise, the report is a valuable resource for banks and card issuers aiming to understand segment dynamics and gain competitive advantages. It delves into relevant regulatory policies and recent changes within the regulatory framework. The 'Switzerland Cards and Payments: Opportunities and Risks to 2029' report provides top-level market analysis, insights, and information, including: Current and forecast values for each market in the industry, covering debit, credit, and charge cards. Comprehensive insights into payment instruments like cards, credit transfers, cash, direct debits, and cheques, alongside an exploration of key alternative payment instruments. In-depth ecommerce market analysis. An analysis of market drivers and regulations affecting the industry. Examination of strategies employed by financial institutions to market debit, credit, and charge cards. Insightful analysis of consumer attitudes and card usage preferences. A detailed overview of the industry's competitive landscape. Key Highlights The SIC5 Instant Payment system, an addition to the Swiss Interbank Clearing system, was launched by SIX and the SNB. Supported by nearly 70 banks as of August 2024, it facilitates real-time settlements within 10 seconds and operates 24/7, enhancing immediate payment capabilities. Switzerland is progressively moving towards a 'less cash' society, spurred by its near-100% adult banked population and the rise in mobile payments. The SNB's pilot project on digital currency marks another key development, with Project Helvetia III extending into 2026. The incorporation of contactless payments into public transport has significantly accelerated adoption rates. SwissPass, a travel card, introduced a contactless feature in December 2022, enabling cashless transactions at sales points and ticket machines. Scope Analysis of the card market size, transaction values, and volumes, along with detailed segmentation of debit, credit, and charge cards. Market sizing and comprehensive evaluation of major payment instruments like cards, credit transfers, cash, direct debits, and cheques. Trends and growth trajectories for historical and forecast periods. Competitor analysis highlighting leading card issuers and schemes. Detailed insights into consumer attitudes and preferences towards card usage. An overview of prominent alternative payment brands within the country. Key Topics Covered: 1. Executive Summary2. Market Overview3. Payment Instruments4. Card-Based Payments5. Ecommerce Payments6. Alternative Payments7. Payment Innovation8. Job Analysis9. Payment Infrastructure and Regulation10. AppendixCompetitive Landscape TWINT Apple Pay Google Pay Swiss Interbank Clearing SIX SNB SIC5 Banque Cantonale Vaudoise (BCV) Basler Kantonalbank Commerzbank Hypothekarbank Lenzburg UBS Swiss Bankers Association Zurcher Kantonalbank CembraPay Swissbilling Swiss Competition Commission (COMCO) Mastercard Garmin Pay SwatchPAY Visa Alpian Bank Cler Bank EEK Credit Suisse Habib Bank Neon Switzerland BLKB Bank Linth CBH Bank Bank Cler PostFinance YAPEAL American Express Manor Christ Watches & Jewelry Bongenie-Grieder Klarna PayPal Samsung Pay Click to Pay SPAR Yoordi Swiss4 Corner EasyPark myPOS For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Finextra
21-05-2025
- Business
- Finextra
FIS and Kipp partner to tackle card declines
FIS (NYSE: FIS), a global leader in financial technology, today announced a strategic partnership with Letskipp Ltd. (Kipp), a collaboration platform for card issuers and merchants, to introduce an innovative non-sufficient funds (NSF) authorization solution to its debit clients. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. This first-to-market offer is designed to combat the long-standing challenge of declined transactions due to insufficient funds, which can help issuers recover lost revenue and drive top-of-wallet status with customers. With this solution, FIS is unlocking growth for its card issuing clients by helping to streamline financial operations, reduce friction and improve efficiency. Industry data shows that the leading cause of card declines is insufficient funds, causing revenue loss, customer frustration and higher contact center costs. For merchants, these declines result in lost sales and wasted product and time. For issuers, declined transactions bring unpredictability at the point of sale for customers, increasing consumer frustration and impacting loyalty. The solution offers issuers the ability to approve transactions even when the available balance is insufficient – without imposing overdraft fees on consumers – by enabling merchants to voluntarily pay a premium to authorize NSF transactions. This reimagined economic model can generate additional revenue for issuers while helping to preserve the customer experience at the point of sale. Through this partnership, issuers can quickly take advantage of this interconnected solution, helping money move dynamically through debit accounts, card networks and payment systems. 'As money moves between merchants, companies, and financial institutions and card issuers, every transfer should be timely and seamless. This partnership underscores FIS' commitment to helping our clients unlock new revenue streams and deliver smooth payment experiences,' said Jim Johnson, co-president, Banking Solutions, at FIS. 'Our NSF authorization solution with Kipp tackles a key point of friction in the payments journey, helping issuers retain customers and drive long-term value throughout the money lifecycle.' "We're excited to join forces with FIS to bring our innovative NSF solution to a broader market," said Chanan Lavi, CEO and co-founder of Kipp. 'By reducing declines, we're helping merchants and issuers to deepen customer relationships, protect transaction volume and grow revenue, without burdening consumers.' This solution reinforces FIS' accomplishments in helping deliver efficient, end-to-end experiences for businesses to bring the world's money into harmony.
Entrepreneur
13-05-2025
- Business
- Entrepreneur
Credit Card Limits: Managing Spending to Protect Your Financial Health
Credit Card Limits: Managing Spending to Protect Your Financial Health Credit cards have become an indispensable tool in modern financial life, offering convenience and flexibility for millions of consumers. However,... This story originally appeared on Due Credit Card Limits: Managing Spending to Protect Your Financial Health Credit cards have become an indispensable tool in modern financial life, offering convenience and flexibility for millions of consumers. However, spending beyond established credit limits can trigger significant consequences that impact both immediate finances and long-term credit health. When cardholders exceed their predetermined spending caps, they face a dual penalty: immediate monetary fees and potential damage to their credit scores. These consequences can linger, affecting future borrowing opportunities and financial flexibility. The Cost of Exceeding Your Limit Going over a credit card limit typically results in over-limit fees, which card issuers impose as penalties for exceeding the established credit boundary. These fees generally range from $25 to $40 per occurrence, depending on the card issuer's policies. Beyond the immediate financial penalty, exceeding credit limits can have lasting effects on a cardholder's credit profile. Credit utilization—the percentage of available credit being used—is a major factor in credit score calculations. When utilization exceeds 100% by going over the limit, credit scores can drop significantly. Financial analyst studies show that high utilization rates above 30% already begin to negatively impact credit scores, with over-limit situations causing even more substantial damage. Regulatory Protections and Opt-In Requirements Following the Credit CARD Act of 2009, card issuers cannot automatically charge over-limit fees unless cardholders have explicitly opted in to allow transactions that exceed their credit limit. This consumer protection measure gives cardholders more control over potential fees. For those who haven't opted in, transactions that would push the balance over the limit are typically declined at the point of sale. While this might cause momentary inconvenience, it prevents both the over-limit fee and the negative credit reporting that follows. Some key considerations regarding over-limit protections include: Card issuers must clearly disclose over-limit fees before enrollment Consumers can revoke over-limit permission at any time Fees cannot exceed the amount by which the limit was exceeded Strategies for Responsible Credit Management Maintaining balances well below credit limits is fundamental to healthy credit management. Financial advisors recommend keeping utilization below 30% of available credit to optimize credit scores and demonstrate responsible borrowing behavior. Setting up account alerts can help cardholders stay aware of their balance relative to their limit. Many card issuers offer notifications when spending reaches certain thresholds—typically at 75% and 90% of the available limit. 'Regular monitoring of account balances through mobile apps or online banking provides real-time visibility into spending patterns,' notes a consumer finance educator. 'This awareness is the first step in preventing over-limit situations.' For those who regularly approach their credit limits, requesting a limit increase can provide additional flexibility. However, this strategy works best when it's not viewed as an invitation to increase spending but rather as a buffer against accidentally exceeding limits. Building Long-Term Credit Health Understanding how credit limits factor into overall financial health helps consumers make informed decisions about credit card usage. Credit limits aren't merely spending caps—they're components of a broader credit profile that lenders evaluate when making future credit decisions. Consistently staying within credit limits demonstrates financial discipline to potential lenders. This responsible behavior, when maintained over time, contributes to stronger credit scores and more favorable lending terms for major purchases like homes and vehicles. Credit cards, when used responsibly, serve as valuable tools for building credit history and managing short-term expenses. The key lies in understanding the implications of different usage patterns and making choices that support long-term financial goals rather than short-term spending desires. As digital payment methods continue to evolve, maintaining awareness of credit limits and spending patterns remains a cornerstone of financial literacy. This knowledge empowers consumers to use credit cards as intended—as convenient financial tools rather than pathways to unsustainable debt. The post Credit Card Limits: Managing Spending to Protect Your Financial Health appeared first on Due.
