FOR 45 YEARS, THE LEADING PUBLICATION COVERING PAYMENT SYSTEMS WORLDWIDE MAY 2016 / ISSUE 1087

Store Cards in the U.S. 2015

Outstandings on private label store credit cards reached $107.17
billion at year-end 2015, up 9.0% over the prior year. Third-
Europe’s Top Acquirers
party specialist retail store card issuers owned 94.87% of those Transactions (Mil.) in 2015
> see p. 6
Ireland U.K. France Denmark Sweden Russia
Wells Fargo Wallet
The second largest debit card issuer and fifth largest credit card
issuer in the U.S. will launch a proprietary mobile payment app WorldPay
this summer for Android OS 4.4 (or newer) handset users that can 1
6,854
> see p. 12 Sberbank
2
5,330
CurrentC Mobile App and Walmart Pay Barclays
3
The consortium of retailers that formed Merchant Customer 4,596
Exchange (MCX) in 2012 to develop a common mobile app Nets
4 4,071
have stopped testing that QR code-based technology they called
> see p. 5 5 Crédit Mutuel 3,116
Trusona Mobile Authentication
6 Crédit Agricole 2,542
The identity and authentication platform from Trusona secures
web and mobile transactions using patented technology that has 7 Swedbank 2,273
been tested 119 million times in live field tests and has never been
> see p. 5 8 2,089 JPMorgan
© 2016 The Nilson Report
SlimPay Direct Debit Acquiring 9 1,675 Elavon
Many European consumers prefer to make online payments from
their bank accounts, not by credit or debit cards. SlimPay owns a
10 BPCE 1,424
payment institution license from Banque de France, that country’s
> see p. 8

Popmoney P2P Progress Europe’s Top Merchant Acquirers

Fiserv offers technology and services to more than 13,000 financial
institutions in 80 countries. In the U.S., it offers a person-to-person
(P2P) money transfer business and a consumer-to-business (C2B)
> see p. 8
Green Dot Money Online Marketplace
The fourth largest prepaid card issuer in the U.S., Green Dot,
sees an opportunity to earn revenue by matching current and
former customers with lenders offering products to people with
> see p. 12
The 10 largest merchant acquirers in Europe based on
transactions handled in 2015 are shown in the chart above.
They are ranked by card payments at the physical point of
sale as well as in web-based and mobile channels.
Transactions were initiated by global and domestic-only
general purpose credit, debit, and prepaid card brands. The
chart on page 9 shows the 25 largest merchant acquirers
ranked by purchase volume and transactions on global and
domestic-only cards. Web-based and mobile transactions
> see p. 9

INSIDE 2 – 4 Fast Facts CHARTS 7 Store Card vs. GP Card % Change in 10 Largest Visa/MasterCard Acquirers in
Management Changes Credit Purchase Volume Europe 2015
Conferences & Seminars 7 U.S. Store Credit Cards — 2015 vs. 2014 11 Europe’s Top Acquirers of Web
9 Top Acquirers in Europe — 2015 Transactions

© 2016 HSN Consultants, Inc. THE NILSON REPORT VISIT US ONLINE AT WWW.NILSONREPORT.COM
 BLACKHAWK NETWORK will continue to provide market-
FAST
FACTS
ing, servicing, and processing support for consumer and
corporate prepaid financial products issued by MetaBank
as part of a new multiyear agreement. MetaBank is the
2nd largest issuer of Visa and MasterCard prepaid cards in
the U.S. Brad Hanson is President at MetaBank and Meta
Payment Systems, (605) 782-1711, bhanson@metapay.com,
www.metapay.com. Talbott Roche is CEO at Blackhawk,
(925) 226-9990, talbott.roche@bhnetwork.com,
www.blackhawknetwork.com.
PLASTC CARD, which lets cardholders add all of their
payment cards into one device, will use Fit Pay’s Trusted
Payment Manager platform, which supports tokenization,
MAY 2016 to offer contactless payment transactions. Ryan Marquis is
ISSUE 1087 CEO at Plastc, (415) 570-2877, ryan@plastc.com,
www.plastc.com. Michael Orlando is CEO at Fit Pay,
No paid (425) 922-2894, michael@fit-pay.com, www.fit-pay.com.
advertising.
BANK OF AMERICA will open 5,000 ATMs to its mobile
No sponsored
wallet customers by year-end. Customers will be able to
content of
withdraw cash, make transfers, and check balances without
any kind. Ever.
using a plastic card. They will select their Bank of America
It is never debit card in their digital wallet and hold their phone over
permissible for the ATM’s contactless card reader to activate the devices.
subscribers to After that, they enter their PIN, select their account, and
forward or print this initiate a withdrawal, transfer, or balance inquiry.
issue. Doing so vio- Michelle Moore is Head of Digital Banking at
lates copyright laws. Bank of America, (980) 386-8359, michelle.moore@
bankofamerica.com, www.bankofamerica.com.
THE TEXAS ATTORNEY GENERAL’S Consumer
Protection division has reached a settlement with PayPal
regarding its Venmo mobile phone application. The Attorney
General alleged Venmo used consumers’ phone contact
details without clearly disclosing how the details would be
used, did not clearly disclose how the consumers’ trans-
actions and interactions with other users would be shared,
and misrepresented that communications from Venmo were
actually from particular Venmo users. PayPal has agreed
to improve disclosures to consumers regarding privacy and
security, and it will pay $175,000 to the State of Texas.
FORTE PAYMENT SYSTEMS’ Account Updater
service for recurring payments updates monthly, taking the
tokenized account of a merchant’s recurring transactions
and comparing it to the information in the issuer’s database.
Forte then updates the tokenized card information on file
with the correct account information listed in the database.
Jeff Thorness is CEO, (469) 675-9920 x709, jeff.thorness@
forte.net, www.forte.net.
KOMBEA’S SecureCall product for call centers lets
consumers enter Social Security numbers, credit card
details, and other sensitive information on their phone’s
keypad. The agent sees only dots on their screen and hears
only a monotone, not distinct notes, from the keypad entry.
Agents can give customers information such as a temporary
PIN by playing an audio file that only the customer can hear.
Ronnie Johansen is SVP of Operations, (801) 610-5800,
ronnie.johansen@kombea.com, www.kombea.com.

Conferences & Seminars

Securing Federal 7th International PLUS- 10th Mobile Payment Cardware 2016 – Digital Banking
Identity 2016 – SCA Forum Cards, Payments Innovations Summit Payment & Digital ID Summit 2016: June 20-22,
Government Event: June and Mobile 2016: June 2016: June 14-15, 2016. Insights: June 14-15, 2016. The Roosevelt New
6, 2016. The Ronald Reagan 7-8, 2016. The Exhibition The Hyatt Fisherman’s 2016. The Marriott Gateway Orleans, New Orleans,
Trade Center, Washington, and Convention Centre Wharf, San Francisco, on the Falls, Niagara Louisiana. Estimated
D.C. Estimated attendance: “Sokolniki,” Moscow, California. Estimated Falls, Canada. Estimated attendance: 600. Cost
250-300. Nonmember cost Russia. Estimated attendance: 100+. Cost attendance: 350. Cost for ranges from $1,695 to
for the one-day conference attendance: 1,200+. Cost for ranges from $1,095 to the two-day conference $2,495. Subscribers to
is $399. Subscribers and the two-day conference is $1,695. Subscribers to is $1,450. (All prices are The Nilson Report will
readers of The Nilson $700 (€615). Subscribers The Nilson Report will subject to HST. Member receive a $300 discount.
Report will receive a to The Nilson Report will receive a $300 discount. discounts apply to those (Use code TNR.) Contact
20% discount. (Use code receive a 20% discount. (Use code NILSON300.) members in good standing Ingrid Olsen at Source
NILSDISC, applies to
Contact Oksana Bykova at Contact Aron Barkan at the time of the event.) Media, (212) 803-8456,
nonmember rate only.)
Plus Alliance Group, at Strategic Solutions Contact Andra Thurton at ingrid.olsen@sourcemedia.
Contact Bryan Ichikawa
7 (495) 961-1065, market- Network, (561) 674-0082, ACT Canada, com to register or with any
at SCA, (703) 582-7862,
ing6@plus-alliance.com. aron@strategicsolutionsnet. (905) 426-6360, andra@ questions. Register online
bichikawa@
Register at www.plus- com. Register at www. actcda.com. Register at at www.americanbanker.
smartcardalliance.org.
forum.com/forum_2016_ paymentinnovations.net. www.cardware.ca. com/conferences/dig-
Register at www.secur-
en/may/. italbanking/reginfo.html.
ingfederalidentity.com.

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VERIFONE’S Commander Site Controller, which increases speed in payment
acceptance, fueling operations, and back-office controls for gas stations and
convenience stores, is now certified with First Data’s Rapid Connect to enable
in-store EMV acceptance. Commander Site Controller separates payment,
fuel, and POS software for easier management and remote upgrades.
Dan Yienger is SVP and General Manager of Petroleum at Verifone,
(727) 953-4016, dan.yienger@verifone.com, www.verifone.com.
FISERV has received a contract renewal from John Deere Financial and
will continue providing revolving credit card account processing for another
10 years. The portfolio had $333.3 million in outstandings at year-end 2015.
Barry Danz is VP, Account Management, Card Services at Fiserv,
(678) 375 4481, barry.danz@fiserv.com, www.fiserv.com. Lawrence Sidwell
is SVP at John Deere Credit Operations, (515) 267-3000, sidwelllawrence@
johndeere.com, www.johndeere.com.
ELAN FINANCIAL SERVICES, a unit of U.S. Bank, will offer Visa Bonus
Rewards, Visa Bonus Rewards PLUS, Cash Rewards American Express, Travel
Rewards American Express, and Visa Platinum credit card products to Union
Bank & Trust’s 280,000 customers in Virginia. Matthew Carpenter is
Market Director at Elan Credit Cards, (612) 973-2027, matthew.carpenter@
elanfs.com, www.elanfinancialservices.com.
PAYMENT SAVVY offers utility and telecom businesses fully integrated
payment processing for credit card, debit card, and electronic check
acceptance - at no cost. Instead, billers add a convenience fee to be paid by
recipients when they use phone, web, or mobile (including text) channels to
settle the account. Chad Deatherage is VP Sales, (214) 431-3173,
cdeatherage@paymentsavvy.com, www.paymentsavvy.com.
CASHSTAR, a top provider to merchants of private label prepaid card and
loyalty programs, has launched CashStar Social Engagement, which gives its
customers the ability to execute and track the impact of their social media
promotions and customer remediation initiatives. Gerry Gilbert is VP of
Product, (207) 549-2187, ggilbert@cashstar.com, www.cashstar.com.
INSIDE SECURE’S MatrizHCE software protects sensitive data on mobile
devices and allows mobile phones to be used as payment cards. It is
approved for VisaReady and is preapproved and integrated with Visa token
servers. Andrew McLennan is EVP Mobile Security Division at Inside Secure,
(408) 658-6577, amclennan@insidesecure.com, www.insidesecure.com.
WESTERN UNION’S account payout network can connect to more than one
billion bank accounts in approximately 50 countries to complete cross-border
money transfers. Senders can transfer money using cash, debit card, or credit
card directly to the receiver’s account online, through mobile devices, or
where available at participating WU agent locations. Hikmet Ersek is CEO,
(720) 332-1000, hikmet.ersek@westernunion.com, www.westernunion.com.
MASTERCARD’S Simplify Controls lets small and medium-sized businesses
control, prevent, and monitor ecommerce transactions in real time. Merchants
can use a mobile app and desktop dashboard to customize their fraud settings
for transaction size, country of origin, repeat transactions, and more.
Deborah Barta is Simplify Commerce Global Lead, (636) 722-4038,
deborah_barta@mastercard.com, http://smplfy.cm/controls.
© 2016 HSN Consultants, Inc. THE NILSON REPORT
© HSN Consultants, Inc. 2016 THE NILSON REPORT
ALLIANCE DATA’S Card Services business has received a long-term
contract renewal from retailer Forever21 to provide private label and co-brand
credit card services in the U.S. Melisa Miller is President, (614) 729-4900,
melisa.miller@alliancedata.com, www.alliancedata.com.
LOANSTAR’S MerchantLinQ platform is a free toolset that banks can offer
to merchants, enabling them to generate applications for instant loans for
purchases at the point of sale. Craig Haynes is Founder, (760) 774-7409,
craig.haynes@loanstartech.com, www.loanstartechnologies.com.
EMV TESTING AND CERTIFICATION WHITE PAPER: Current Global
Payment Network Requirement for the U.S. Acquiring Community is available
from the EMV Migration Forum. Download at http://www.emv-connection.
com/emv-testing-and-certification-white-paper-current-global-payment-
network-requirements-for-the-u-s-acquiring-community/.
BOKU, a top provider of direct carrier billing for mobile payments, provides
one-tap mobile payments to 75 million mobile subscribers in Europe to
purchase games and apps in the Google Play store. Manfred Artmeier is VP,
(415) 375-3160, manfred.artmeier@boku.com, www.boku.com.
BLUEFIN PAYMENT SYSTEMS will provide the Visa Data Secure Platform
as part of its PCI-validated point-to-point encryption service for retail, health-
care, and education customers. Ruston Miles is Chief Innovation Officer at
Bluefin, (918) 270-2583, rmiles@bluefin.com, www.bluefin.com.
HYPERWALLET will provide payment services to 1stdibs marketplace,
which connects collectors and interior designers around the world with deal-
ers and galleries. Services include check, ACH, and wire transfers through
Hyperwallet’s payout portal, as well as KYC compliance and 1099 tax forms.
Richard Pham is CFO at 1stdibs, (212) 627-3927, richard@1stdibs.com,
www.1stdibs.com. Brent Warrington is CEO at Hyperwallet, (604) 482-0090,
brentw@hyperwallet.com, www.hyperwallet.com.
WIRECARD SINGAPORE has been approved as a principal member of Visa
Inc. It is the first nonfinancial institution member in Singapore.
Grigoriy Kuznetsov is EVP Global Financial Services at Wirecard Singapore,
(65) 9833-8968, grigoriy.kuznetsov@wirecard.com, www.wirecard.com.
T.S. Anil is SVP, Head of Product - Asia-Pacific at Visa, (65) 6671-5580,
tsanil@visa.com, www.visa.com.
Management Changes
Pamela Joseph, formerly at U.S. Bank, has been appointed
President and COO at TSYS, (706) 649-2310, pjoseph@tsys.com.
Margie Frasier has been appointed Senior Vice President for
Global Partnerships and Alliances General Manager at Semafone,
(978) 893-8621, margie.frasier@semafone.com. Ken Gavrity has
been appointed Head of the Enterprise Commercial Payments
Group at KeyBank, (216) 813-5538, ken_gavrity@keybank.com.
Chris Vukelich has been appointed Senior Vice President at UpLift,
(480) 381-1895, cvukelich@uplift.com. Scott Moore has been
appointed General Manager of Asia-Pacific at Mozido,
82 (10) 4900-6245, scott.moore@mozido.com.
MAY 2016 / ISSUE 1087 / THE NILSON REPORT 3
MAY 2016 / ISSUE 1087 / THE NILSON REPORT 2
 COPEC, a fuel card services provider to heavy commercial transport, light
fleets, and industrial and agricultural vehicles in Chile, will implement Easy-
Fuel Plus Automated Vehicle Identification (AVI) from OTI PetroSmart. More
than 600 retail stations in Chile distribute Copec fuel products.
Cristian Balart is Assistant Manager of Business Planning for Copec,
56 (2) 2690-7460, cbalart@copec.cl, www.copec.cl. Charlotte Hambly-Nuss is
Managing Director at OTI PetroSmart, 27 (21) 526-9100,
charlotte.hambly-nuss@otipetrosmart.com, www.otipetrosmart.com.
ECOBANK, which operates in West, Central, East, and Southern Africa, has
deployed the latest version of the TSYS Prime 4 platform to acquire Master-
Card, Visa, and UnionPay card transactions in 28 countries. Eric Coffie is
Group Head, Cards and Electronic Banking at Ecobank, 254 (735) 363-415,
ecoffie@ecobank.com, www.ecobank.com. Rene Kruse is COO,
PRIME Business Solutions, TSYS Int’l, (357) 2288-2608, renekruse@tsys.com,
www.tsysprime.com.
PROXAMA, which provides mobile proximity commerce and payment
software to banks and card issuers, has completed integration of Discover’s
contactless product D-PAS (D-Payment Application Specification) into its
EMV enablement technology. Patrick Regester is EVP Global Sales &
Communications - Digital Payments Division at Proxama, 44 (780) 286-3616,
patrick.regester@proxama.com, www.proxama.com.
PCIBOOKING SERVICE for online travel agencies and channel managers
tokenizes and stores payment card data. It is gateway agnostic and requires
no changes to existing workflows or frameworks. The PCI-DSS Level 1
compliant service ensures that no payment card data ever enters a user’s
environment, removing them from PCI scope. Jason Perhar is Operations
Director, 44 (203) 608-9357, jason@pcibooking.net, www.pcibooking.net.
KUDELSKI GROUP has entered into a multiyear, worldwide licensing
agreement with fine Swiss Metals covering Kudelski’s smart card manu-
facturing processes. In addition, fSM will acquire a number of patents from
Kudelski related to manufacturing cards using embedded gold ingot including
patents in Australia, China, Japan, and the U.K. Joe Chernesky is SVP of
Intellectual Property and Innovation at Kudelski Group, (650) 962-2241,
joe.chernesky@nagra.com, www.nagra.com. Walter Lohri is CEO at fSM,
41 (41) 320-8410, walter.lohri@fine-swiss.ch, www.fine-swiss.ch.
NETWORK FOR ELECTRONIC TRANSFERS (NETS), the largest acquirer
in Singapore with a merchant network of 91,000 acceptance points, will offer
its customers JCB Card acceptance. Jeffrey Goh is CEO at NETS,
(65) 6272-0533, jeffreygoh@nets.com.sg, www.nets.com.sg. Vincent Ling is
Managing Director at JCB Int’l Asia-Pacific, (65) 6738-0321, vincent.ling@
jcbi-ap.com, www.jcbcard.com.
MYPAY, a mobile financial service provider in Myanmar, will use Cellum’s
mcommerce wallet. Most of Myanmar’s population of 51 million are
unbanked. However, 80% of adults have smartphones. Cellum’s wallet offers
QR code, peer-to-peer transfers, online checkout, airtime top-up, and bill
payment. Janos Koka is CEO at Cellum, 36 (23) 814-633, janos.koka@cellum.
com, www.cellum.com. Tim Scheffmann is CEO at MyPay, 95 (94) 2018-7538,
tim@mypay.com.mm, www.mypay.com.mm.
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TSYS has added adaptive analytics from Featurespace to enhance fraud
protection for its cardholder account processing clients. Featurespace’s
machine-learning ARIC software platform monitors every cardholder’s
spending and location to deliver real-time decision capabilities. Andrew
Mathieson is Group Executive, Issuer Product Group at TSYS, (770) 663-2954,
amathieson@tsys.com, www.tsys.com. Martina King is CEO at Featurespace,
44 (122) 334-5925, martina.king@featurespace.co.uk,
www.featurespace.co.uk.
PAYSAFE’S multicurrency cross-border acquiring service is now available
throughout the European Economic Area. The company is a principal member
of MasterCard and Visa. Andrea Dunlop is CEO of Card Solutions and
Acquiring at Paysafe, 44 (203) 826-9798, andrea.dunlop@paysafe.com,
www.paysafe.com.
BANGKOK BANK, which has approximately 17 million customers in
Thailand, uses Fiserv’s Mobiliti Edge mobile banking and payment platform
to deliver financial services via a mobile phone, tablet, or Apple Watch. The
bank offers mobile peer-to-peer payments, push notifications, and alerts
directly through the app. Marc Mathenz is Managing Director Asia-Pacific at
Fiserv, (65) 6533-9288, marc.mathenz@fiserv.com, www.fiserv.com.
INTERFAX offers ShieldQ, a document management service that lets hotels
and other organizations use email filtering to securely route emails auto-
matically to a unified, PCI-compliant document queue. Users automatically
or manually control access within a group, distributing the emails only to
authorized recipients. ShieldQ meets all PCI DSS requirements for anyone
who wants to remove email from PCI scope. Geoff Milton is ShieldQ Director
of Sales, 44 (087) 000-5211, geoff@shieldq.net, www.shieldq.net.
ALINMA has opened its 1,000 ATMs and 9,000 POS terminals in Saudi
Arabia to UnionPay cards. Ajay Bharti is Head of Card Operations at
Alinma Bank, 966 (1) 218-5840, akbharti@alinma.com, www.alinma.com.
BANCA SELLA GROUP, a merchant acquirer based in Italy, will offer its
ecommerce customers Smart2Pay’s platform, which delivers local alterna-
tive payment methods in 80 countries. Banca Sella says it provides acquiring
services to 44% of Italy’s ecommerce merchants. Alessandro Bocca is Head
of eCommerce & Multi-Acquiring Services at Banca Sella, 39 (015) 450-5346,
alessandro.bocca@sella.it, www.gestpay.it. James Flinterman is CEO at
Smart2Pay, (415) 293-8098, james@smart2pay.com, www.smart2pay.com.
FORTUMO’S direct carrier billing platform offers more than 52 million
people in Cote d’lvoire, Ethiopia, and Senegal the opportunity to bill digital
purchases to their mobile phone account. Fortumo covers 28 countries in the
Middle East & Africa, and a total of nearly 600 million mobile users. Gerri
Kodres is Chief Business Officer, (372) 730-9500, gerri.kodres@fortumo.com,
www.fortumo.com.
SEAMLESS has received authorization from Finansinspektionen, Sweden’s
financial supervisory authority, to issue electronic money. Users of its SEQR
mobile NFC-based payment system can send and receive money worldwide,
in real time. Seamless will offer money transfers in the 12 European countries
where it operates SEQR. Peter Fredell is CEO at Seamless 46 (8) 5648-7800,
peter.fredell@seamless.se, www.seamless.se.
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Trusona Mobile Authentication
from page 1...
compromised. Using that
actuarial data, Trusona is
able to offer insurance of
$1,000 to $1,000,000 per
covered transaction.
Trusona’s platform provides two swipes are ever the same.
TruToken, a chip in a card reader Consequently, by capturing and
device shown here, which is storing the unique number, it
attached to a smartphone. The can provide protection against
chip captures details of the swipe any fraudster who has captured a
of a magnetic stripe card by user’s session and then attempts
the person to be to reuse it. This happens with
authen­ticated. malicious software, which can
Details include steal username, password, and
the velocity even biometric details.
and angle of All users register with Trusona
the swipe as in advance. They
well as the download an app, The chip
degree of which they use to
swipe of
wear and take a photograph
tear on the of their driver’s
magnetic license. The mag-stripe card and
tape. An card reader are then mailed to the
algorithm user. Alternatively, readers and
creates a unique cards can be sent to a company’s
number and human resources department and
encrypts it. distributed to select employees
Trusona says with access to core systems.
that Trusona is overkill for typical
no ecommerce payments. It is aimed
at high-value transactions such
as business-to-business payments
($10,000 and above) as well as
protection against fraudulent
access to a company’s network.
It does so by confirming
that TruToken is in the
hands of a valid user. It
sends a push notification
to the user’s phone to
initiate authentication and then
advises the designated party
that the transaction is approved
or denied.
Trusona’s approach is
based on National Institute
of Standards and Technology
(NIST) specifications for Level
of Assurance (LOA) used by U.S.
federal government agencies.
LOA ranges from 1 to 4, with 4
captures details of the
a magnetic stripe.
being the most secure. Prices
companies pay to use Trusona
range from $1 per month for up to
100 transactions per user without
any insurance, to $100 per user
per month with $1,000,000 in
insurance per transaction (for
LOA4) with no limits on the
number of transactions.
Ori Eisen is CEO at Trusona
in Scottsdale, Arizona, (480)
454-2377, o@trusona.com,
www.trusona.com.

CurrentC Mobile App and Walmart Pay

from page 1...
CurrentC, which was established to encourage
payments from a consumer’s deposit account through
the Automated Clearing House network. Most
MCX members include Walmart,
Target, Publix, Best Buy, and CVS.
members are now expected to establish partnerships
with Visa, MasterCard, American Express, and
Discover payment card issuers to include features of
the CurrentC app, such as discounts, special offers,
and loyalty programs, in the issuers’ proprietary
mobile apps. Some MCX members will launch their
own QR code-based mobile payment and commerce
apps (as Walmart has done, and Target is preparing
to do).
Members of the MCX consortium include
Walmart, Target, Sears, Best Buy, Wendy’s, 7-Eleven,
CVS, Conoco, ExxonMobil, WaWa, Kohl’s, Publix,
Wendy’s, Dunkin’ Donuts, Meijer, Banana Republic,
Kwik Trip, Shell, 76, Circle K, and Giant Eagle.
> see p. 6

© 2016 HSN Consultants, Inc. THE NILSON REPORT MAY 2016 / ISSUE 1087 / THE NILSON REPORT 5
 CurrentC Mobile App and Walmart Pay
from page 5
In the fourth quarter of 2015,
MCX signed a contract with
JPMorgan Chase to add the
CurrentC app to Chase Pay, a QR
code-based mobile app available
to the bank’s cardholders. That
contract remains in effect as new
MCX merchants sign up for Chase
Pay acceptance as a payment
option. Chase Pay customers who
make payments at MCX merchant
locations and within apps will
receive offers, discounts, and
loyalty points from the retailers’
proprietary apps. CurrentC
payments are scheduled to be
processed on the Chase Commerce
Solutions merchant network at
fixed per-transaction rates.
Currently Chase Pay is live with
some ecommerce merchants. It
will be available before year-end
for cardholders at participating
MCX and other merchants. Chase
is the largest U.S. credit card
issuer, third largest debit card
issuer, and third largest merchant
acquirer in the U.S.
Walmart is rolling out QR
code-based Walmart Pay in stages
across the U.S. So far, consumers
can pay with the app at 600 of
the company’s 4,600 locations
nationwide (in Texas, Oklahoma,
and Arkansas).
The Walmart Pay app is
separate from the CurrentC app.
Walmart Pay is an additional
service available to 22 million
customers who use Walmart’s
mobile app
monthly. It
works with ...an additional service for 22 mil.
iOS and customers who use Walmart’s app.
Android devices.
Users can
link multiple Visa, MasterCard,
American Express, and Discover
credit, debit, and prepaid cards
to Walmart Pay as well as their
deposit account and Walmart’s
proprietary credit and prepaid
card products. All card credentials wal-mart.com, www.walmart.com.
are stored remotely.
Payments from the app are
triggered by a 4-digit PIN. Users
open the app, select Walmart
Pay, and scan a bar code in
the checkout lane using their
smartphone’s camera. Receipts are
sent to the phone.
The Walmart app gives users
the opportunity to comparison
shop. If they are in a competitor’s
store and see a product they want
to buy, they can use the app to
check Walmart’s price and make a
purchase with Walmart Pay. The
item is held for them in their local
Walmart store.
Walmart Pay lets users split
tender — paying part of their
purchase from a prepaid card
and the remainder with cash,
for example.
Daniel Eckert is Senior VP at
Walmart in Bentonville, Arkansas,
(479) 204-2123, daniel.eckert@

Store Cards in the U.S. 2015

from page 1...
receivables, up from 93.41% in 2014. The remaining
5.13% of outstandings were owned by retailers
that operated their own portfolios, keeping card
receivables on their balance sheets.
For the fourth year in a row, store card
outstandings grew faster than outstandings tied to
American Express, Discover, MasterCard, and Visa
credit cards.
General purpose card outstandings reached
$800.87 billion at year-end 2015, up 4.7% over 2014.
Store credit card purchase volume, with growth of
10.0% to $189.27 billion, also outperformed general
purpose credit cards, which saw purchase volume
increase by 7.6% to $2.832 trillion.
Store credit cards in circulation reached 359.5
million, up 6.3%. Active credit card accounts, which
are those with at least one purchase transaction in the
fourth quarter, grew to 153.8 million, up 5.3%.
Synchrony Financial owned 38.49% of all
store card outstandings, up from 37.32% in 2014.
Outstandings owned by Synchrony grew by 12.4%
last year.
Synchrony’s share of purchase volume on store
credit cards increased to 32.75% from 31.72%.
Synchrony figures exclude its Care Credit medical
cards, oil company cards, and cards co-branded with
Visa and MasterCard.

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 Citi Retail Services owned
28.72% of store card outstandings, % Change in Credit Purchase Volume
down from 31.20%. Purchase Store vs. General Purpose Cards
volume market share for Citi
fell to 26.12% from 27.94%. The
figures shown do not include its 10.8
9.9 9.7 9.7 10.0
oil company cards or co-branded 9.2 8.5
8.4 7.8 7.6
MasterCard, Visa, and American 6.2 6.0 5.8
4.5
Express cards.
Alliance Data’s market share 2.0 1.8 2.2
of outstandings at 9.81% was up
from 9.11%. Purchase volume 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
market share at Alliance Data
increased to 8.45% from 8.18%.
Gains were made from more than ©2016 The Nilson Report
20 new private label card clients. -6.7
-7.5
Wells Fargo held 7.55% of -9.3
outstandings, up from 7.50%.
Purchase volume market share
for Wells Fargo grew to 4.12% TD Bank owned 4.57% of store Other new clients were Raymour
from 4.06%. card outstandings, up from 2.92%. & Flanigan and MOR Furniture.
Capital One owned 5.51% It bought Nordstrom’s consumer Army & Air Force Exchange
of store card outstandings, up portfolio on October 1, 2015. continued as the largest retailer-
Its purchase owned portfolio of store credit
For the 4th year, store card outstand- volume market card receivables. However, its
share grew share of outstandings fell to 2.57%
ings grew faster than GP cards. to 4.94% from 2.91%, and its market share
from 4.02% of purchase volume slipped to
from 5.13%. Its purchase volume and included one quarter of 3.48% from 4.06%.
market share grew to 19.24% Nordstrom credit card volume.
from 18.94%. Prior issues: 1062, 1039, 1019, 996

U.S. Store Credit Cards 2015 vs. 2014

Rank Outstandings Purchase Volume Accounts (000) Cards
‘15 ‘14 Issuer (mil.) Chg. (mil.) Chg. Total Chg. Active Chg. (000) Chg.
1 1 Synchrony Financial $41,251.4 12% $61,983.2 14% 90,630 5% 45,507 5% 91,740 5%
2 2 Citi Retail Services $30,780.0 0% $49,440.0 3% 65,800 1% 38,000 2% 74,470 1%
3 3 Alliance Data $10,513.3 17% $15,988,1 14% 89,554 12% 36,102 7% 101,700 12%
4 4 Wells Fargo Retail Services $8,088.0 10% $7,789.0 11% 6,188 0% 1,351 5% 6,462 –3%
5 5 Capital One $5,910.0 17% $36,410.0 12% 49,100 7% 19,343 7% 54,410 7%
6 6 TD Bank $4,894.5 70% $9,335.1 35% 15,137 54% 8,450 43% 16,651 54%
7 7 Army & Air Force Exchange $2,753.2 –4% $1,714.0 –8% 2,118 0% 1,145 –2% 2,659 0%
Other 1 $2,981.0 –22% $6,591.4 –6% 10,399 –24% 3,893 –26% 11,375 –24%
TOTAL STORE CARDS $107,171.4 9% $189,270.8 10% 328,926 6% 153,792 5% 359,467 6%
Some prior year figures have been restated. Use percent change to recalculate 2014 figures. Synchrony Financial, Citi, Alliance Data, Wells Fargo, Capital One, and TD
own receivables generated by credit cards they issue on behalf of clients whose name appears on the cards, which can only be used at outlets owned or controlled
by the client. Excluded are Visa, MasterCard, and American Express cards from these issuers. Also excluded are private label gasoline company credit cards owned
by Synchrony, Citi, and Alliance Data and medical cards issued by Synchrony Financial. Active accounts are those with at least one purchase transaction in the fourth
quarter. For cards that have two separate lines of credit (both store and general purpose), only the volume from the private label store line of credit is included. 1 Includes
Nordstrom’s $2.15 billion in purchase volume in 2015 prior to its sale to TD Bank and Nordstrom employee cards that were not included in the sale to TD Bank. Other also
includes smaller issuers such as Signet/Sterling Jewelers, Credit First National Association, John Deere Financial, Cato, and more. © 2016 The Nilson Report

© 2016 HSN Consultants, Inc. THE NILSON REPORT MAY 2016 / ISSUE 1087 / THE NILSON REPORT 7
 Popmoney P2P Progress
from page 1...
online bill payment service. products in discrete business
Currently, more than 2,400 lines, which serves to depress
cross-sell opportunities.
financial institutions use Fiserv’s
P2P service, called Popmoney, and Fiserv created graphic
nearly 4,000 use its C2B service interfaces for its clients to present
called CheckFree RXP. to their P2P and C2B users. The
Research showed that visual demonstrations of how easy Capital One. Popmoney users
it is to use the other service has
Fiserv’s clients’ online bill payors include Citi, U.S. Bank, SunTrust,
were not aware of person-to- proven to be highly successful. At Regions Bank, TD Bank, Fifth
person money transfer options participating financial institutions, Third, and PNC.
P2P and C2B CheckFree RXP is available to
transactions more than 25 million active bill
Online bill payors were not aware
and consumer payors in the U.S. Last year, it
of P2P money transfer options. users have handled 1.15 billion payments, up
grown by 38% 3.0% over 2014. It competes with
available to them, even when and 41% respectively over the last online bill payment providers to
their financial institutions had six months. financial institutions including
used advertising and marketing Fiserv doesn’t disclose CSI, FIS, Jack Henry, and
to promote the other service. It Popmoney transactions, but it Digital Insight.
also shows that those customers does say that transactions among Justin Jackson is VP, Product
went outside their financial the nearly 70 million potential Management Integrated Payments
institution to a third-party users grew 21% in 2015, and Solutions and Bill Payment at
provider when they needed the that more than 30% of those Fiserv in Dublin, Ohio, (614) 564-
other service. Fiserv responded transactions are now recurring 4404, justin.jackson@fiserv.com,
with an integrated payment P2P payments. Popmoney www.fiserv.com.
strategy, which it launched in competes with Venmo from
October 2015. This aims to PayPal and Early Warning from a Prior issues: 1077, 1053, 1042, 996,
be an antidote to the practice consortium of top banks including 995, 994, 991, 990, 975, 972, 969,
among financial institutions of Wells Fargo, Bank of America, 968, 967, 963, 952, 940
managing P2P, C2B, and other U.S. Bank, PNC, Chase, and

SlimPay Direct Debit Acquiring

from page 1...
central bank, which gives it access to the more than
400 million bank accounts in Europe. SlimPay is an
acquirer that pulls money from a consumer’s bank
account and funds a merchant’s account.
Its first merchant
customers have been
recurring billers and
subscription services
businesses in France,
Germany, the Netherlands, Spain, and the U.K.
This year it opened an office in the U.S. to offer
its services to payment service providers (PSPs) and
acquirers as a gateway on a white-label basis. It will
not acquire transactions in the U.S. Merchants selling
physical goods, airline tickets, and more can take
advantage of SlimPay’s gateway.
While all banks in Europe have access to the more
than 400 million bank accounts,
most merchants are required to
manually upload files or send
EBICS (Electronic Banking
Internet Communication
Standard) files to those
banks to debit a consumer’s
bank account.
SlimPay offers merchants
and their PSPs and acquirers a
single application programming interface to handle
the task.
Importantly, SlimPay provides a full electronic
signature and mandate management platform that
is European Payments Council (EPC) compliant.
Mandates are authorizations between consumers

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 and merchants permitting the debiting of European SlimPay charges from €0.25 to €0.50 per
bank accounts. transaction, depending on if it is a first-time sign up
Merchants are legally by a consumer and the
obligated by the EPC number of value-added
Signature and mandate manage-
to securely store the services merchants request.
mandate, which combines ment platform is EPC compliant. SlimPay received $16.5
the bank account number million (€15 mil.) in
with additional customer data including name, venture funding from Prime Ventures in the third
address, date signed, and merchant identification. quarter of 2015.
SlimPay also offers value-added services including Tim Natter is Head of Business Development, North
protection for merchants in the form of risk scoring America at SlimPay in San Francisco, California,
and risk classification of bank account numbers, (415) 697-4166, tim@slimpay.com, www.slimpay.com.
and retry mechanisms to use if payments fail due to
insufficient funds or other reasons.
SlimPay uses text messages to reach
customers who have insufficient funds, Top Acquirers in Europe
and matches their phone number to
Ranked by Volume (Bil.) Ranked by Transactions (Bil.)
bank accounts to make certain there is
1 Worldpay $391.14 Worldpay 6.85 1
not a disproportionate number of bank
accounts tied to the same phone. 2 Barclays $351.31 Sberbank 1
5.33 2
3 Crédit Mutuel $158.72 Barclays 4.60 3
4 Nets 2 $158.01 Nets 2 4.07 4
Europe’s Top Merchant Acquirers 5 Crédit Agricole $123.89
3
Crédit Mutuel 3.12 5
from page 1... 6 Global Pymts. 4 $119.90 Crédit Agricole 3 2.54 6
are also shown for the 10 largest 7 Elavon 5
$114.93 Swedbank 2.27 7
acquirers handling business in those
8 Cardnet $92.09 JP Morgan 2.09 8
channels in the chart on page 11.
9 CartaSi $88.48 Elavon 5 1.67 9
Europe’s 40 largest acquirers of Visa
(including Electron), MasterCard, and 10 Six $72.80 BPCE 3
1.42 10
Maestro bank card transactions in 2015 11 Worldline 6 $71.85 Worldline 6 1.38 11
are ranked on pages 10 and 11. 12 BPCE 3 $71.55 CartaSi 1.36 12
The top 40 handled 49.66 billion 13 BNP Paribas 3 $66.63 Global Payments 4
1.20 13
card transactions from 8.7 million 14 Swedbank $66.29 BNP Paribas 3 1.10 14
active merchant outlets. Collectively, 15 Société Gén.3 $65.13 Six 1.10 15
Visa, MasterCard, and Maestro
16 JP Morgan $63.61 Evo 1.04 16
purchase volume at merchants totaled
17 Setefi 7 $60.06 Cardnet 1.00 17
$2.498 trillion.
18 B+S Card Serv.8 $56.17 Société Générale 3 1.00 18
Last year 15 acquirers handled more
than one billion transactions, up from 19 Sberbank 1 $53.19 UniCredit 0.99 19
10 acquirers in 2014. Six Payment 20 Concardis 8 $44.78 B+S Card Service 8 0.96 20
Services, BNP Paribas, Evo Payments 21 Yapi Kredi $40.25 Comercia 0.95 21
International, and Nets Group saw their 22 Comercia $39.65 Setefi 7 0.87 22
card transactions cross that threshold. 23 Garanti Bank $36.95 Garanti Bank 0.73 23
Another addition to that group was 24 UniCredit $33.33 Yapi Kredi 0.70 24
JPMorgan Commerce Solutions. It
25 AIB $31.95 T. Isbank 0.56 25
ranked 7th overall, a position gained
Notes: Figures include all European business except for exclusions noted below.
almost entirely due to web-based Volume is net (gross minus chargebacks) for Visa, MasterCard, Maestro, American
transactions. Express, JCB, Diners Club, Discover, UnionPay, and domestic brands. 1 Includes PRO100
figures. 2 Includes BankAxept and Dankort figures. 4 Does not include the UCS Russia
Sberbank, which has had consistent business or the La Caixa joint venture (Comercia) in Spain.5 Includes the Santander
year-on-year growth since first entering Elavon Merchant Services joint venture in Spain. 6 Includes Bancontact/Mister Cash
the rankings in 2008, had the largest figures. 7Includes Pago Bancomat figures. 8 Concardis and B+S Card Services include
Girocard figures. © 2016 The Nilson Report
> see p. 10

© 2016 HSN Consultants, Inc. THE NILSON REPORT MAY 2016 / ISSUE 1087 / THE NILSON REPORT 9
 Europe’s Top Merchant Acquirers
from page 9...
increase in transactions among the top 40 acquirers, in the Visa/MasterCard columns. Other web and Solutions handled 66.9% of
Europe’s Top Acquirers of Web Transactions
Rank Acquirer Web Transactions Percent of Acquirer’s Total Transactions
and claimed the second spot to move ahead of mobile transactions include purchases on all global that business.
Barclays. Nets Group, which moved into the top 10 and domestic-only general purpose credit and In addition, domestic-only 1. JP Morgan 2,079,606,494 99.6
for the first time, includes its acquiring subsidiaries debit cards, which are not included in the Visa/ debit transactions processed 2. Worldpay 1,625,420,385 23.7
Nets in Finland, Teller in Denmark, and Kortaccept MasterCard columns. by the top 40 are not shown in
in Norway. Acquirers in the top 40 handled 6.20 billion the Visa/MasterCard columns. 3. Barclays 553,668,839 12.0
First Data is represented in the chart under its web-based and mobile transactions valued at Domestic-only debit brands 4. Elavon 216,477,517 12.9
joint venture operations with Lloyds Bank in the $430.17 billion. include BankAxept and Dankort
U.K., Allied Irish Bank in Ireland, and its wholly JPMorgan Commerce Solutions accounted for (2.69 billion) handled by Nets in 5. AIB 184,391,757 44.7
owned subsidiary First Data Polska in Poland. 33.5% of all web-based transactions shown, with 2.08 Norway and Denmark, Girocard
6. Crédit Agricole 136,816,006 5.4
billion transactions valued at $60.76 billion. (671.0 million) in Germany, Pago
Worldpay, which held a 26.2% share with 1.63 Bancomat (380.5 million) in Italy, 7. Cardnet 130,000,000 13.0
JPMorgan Commerce Solutions
billion transactions valued at $113.72 billion, ranked and Carte Bancaire (15.9 million)
handled 33.5% of web payments. 8. Crédit Mutuel 123,002,009 3.9
second largest. in France.
Visa/MasterCard columns do not include 234.0 Collectively, they accounted for 9. Bambora 113,243,094 42.4
Web-based and mobile transactions are shown million transactions generated by American Express, 3.76 billion transactions last year
10. Global Payments 98,720,380 8.2
in the top 40 table. Visa and MasterCard purchases Diners Club, Discover, JCB, and UnionPay credit and generated $167.41 billion in
©2016 The Nilson Report
included in the web-based columns are also counted cards valued at $17.86 billion. JPMorgan Commerce purchase volume at merchants.

Top Merchant Acquirers in Europe 2015 Ranked by Visa/MasterCard Transactions

Visa/MasterCard 1 Web-Based 2 Active Visa/MasterCard 1 Web-Based 2 Active
Rank Transactions Volume Trans. Volume Merchant POS Rank Transactions Volume Trans. Volume Merchant POS
‘15 ‘14 Company, Headquarters (mil.) Chg. (mil.) Chg. (mil.) (mil.) Outlets Terminals ‘15 ‘14 Company, Headquarters (mil.) Chg. (mil.) Chg. (mil.) (mil.) Outlets Terminals
1 1 Worldpay United Kingdom 6,834.6 8% $389,509.4 5% 1,625.4 $113,721.6 489,616 1,857,424 21 19 Yapi Kredi Bank Turkey 696.1 18% $40,246.7 19% 32.0 $3,539.5 361,614 619,052
2 3 Sberbank Russia 3 5,326.4 46% $53,169.3 42% 59.2 $1,409.1 586,976 824,787 22 20 T. Isbank Turkey 563.3 20% $27,397.7 27% 52.9 $4,770.1 318,981 442,673
3 2 Barclays United Kingdom 4 4,582.1 19% $350,118.8 19% 553.7 $64,060.4 249,038 195,925 23 21 Carrefour Banque France 18 494.2 7% $26,019.0 6% 3.9 $437.1 1,099 28,500
4 4 Credit Mutuel CIC France 3,116.4 9% $158,722.3 7% 123.0 $11,674.0 259,729 322,081 24 24 Setefi Italy 19 490.4 22% $35,477.3 9% 33.3 $2,518.9 243,070 348,600
5 5 Credit Agricole France 5 2,535.8 8% $122,991.4 8% 136.8 $7,719.9 356,993 359,607 25 23 Akbank Turkey 454.3 12% $23,644.5 13% 20.3 $2,473.9 320,318 413,706
6 6 Swedbank Sweden 6 2,272.7 16% $66,294.9 16% 73.2 $3,809.6 114,353 194,192 26 22 Raiffeisen Bank Austria 20 450.0 4% $15,185.8 41% 22.0 $543.1 72,000 140,000
7 – JPMorgan Commerce Solutions Ireland 1,932.2 — $57,818.2 — 2,079.6 $60,763.4 — — 27 28 Unicre Portugal 429.8 19% $18,397.5 10% 2.4 $178.9 50,580 77,740
8 7 Elavon Ireland 7 1,671.9 15% $114,384.0 –10% 216.5 $45,061.3 318,112 477,168 28 27 Handelsbanken Sweden 21 413.5 11% $17,752.3 –9% 27.4 $1,601.8 38,615 52,390
9 8 BPCE France 8 1,420.0 4% $71,384.5 2% 56.4 $6,174.1 399,200 331,000 29 26 La Banque Postale France 22 412.8 8% $15,028.0 5% 18.8 $1,225.1 25,385 65,227
10 – Nets Group Denmark 9 1,377.4 — $49,291.8 — 83.1 $4,210.8 220,596 446,836 30 25 AIB Merchant Services Ireland 23 411.7 3% $31,768.8 8% 184.4 $16,051.5 55,523 59,020
11 10 CartaSi Italy 10 1,358.7 30% $88,476.9 6% 34.1 $2,674.4 722,442 564,821 31 29 First Data Polska Poland 406.5 17% $8,305.8 4% 1.6 $95.1 79,935 102,185
12 9 Global Payments United Kingdom 1,195.4 14% $119,334.0 19% 98.7 $16,983.3 171,100 426,158 32 33 Banc Sabadell Spain 393.6 25% $20,785.9 23% 19.1 $1,720.3 171,390 226,322
13 12 Six Payment Services Switzerland 11 1,098.5 14% $70,654.6 7% 33.3 $3,918.8 271,367 322,199 33 31 Erste Bank Austria 24 374.5 11% $11,660.7 6% 14.5 $563.5 86,478 79,704
14 11 BNP Paribas France 12 1,097.8 10% $66,469.8 8% 44.9 $4,888.2 114,184 155,807 34 30 BBVA Spain & Portugal 373.8 9% $20,469.2 7% 12.9 $893.1 237,000 244,801
15 14 Evo Payments International Germany 13 1,036.7 16% $30,794.6 0% 41.1 $3,446.3 154,711 219,674 35 32 Concardis Germany 25 357.2 10% $40,902.0 9% 45.0 $7,205.0 110,000 338,000
16 15 Lloyds Cardnet Merchant Serv. U.K. 14 998.0 14% $91,689.7 14% 130.0 $12,225.3 70,000 70,000 36 35 Russian Standard Bank Russia 322.0 25% $6,102.7 –33% 3.3 $284.2 368,765 568,952
17 13 Societe Generale France 15 997.4 8% $64,959.6 5% 38.9 $4,777.2 127,380 213,884 37 34 B+S Card Service Germany 26 320.0 10% $24,495.9 11% 14.0 $1,441.0 220,000 205,000
18 17 UniCredit Italy 16 993.6 31% $33,331.5 13% 5.9 $607.9 293,124 366,405 38 37 Bankia Spain 316.7 33% $15,689.1 28% 4.0 $378.0 100,808 97,913
19 16 Comercia Spain 17 949.9 20% $39,445.6 18% 48.8 $5,535.1 279,473 303,306 39 36 Bambora Group Sweden 27 266.8 9% $12,530.2 12% 113.2 $3,916.1 23,119 32,726
20 18 Garanti Bank Turkey 709.3 9% $35,399.7 17% 63.6 $4,802.2 455,671 611,113 40 38 Vakifbank Turkey 203.2 15% $11,507.7 20% 29.9 $1,869.3 145,389 172,746
Figures are net (gross minus chargebacks). 1 Visa and MasterCard credit, debit, and prepaid cards including Electron and Maestro. Change in volume is based on local 14
Joint venture between Lloyds Bank and First Data. 15 Carte Bancaire figures (2.6 mil., $166.0 mil.) are not included. 16 Includes Germany, Austria, Poland, Russia,
currency. 2 Web-based figures include all card brands (Visa, MasterCard, American Express, Diners Club, JCB, UnionPay, and domestic general purpose credit and debit Croatia, Bulgaria, Romania, Ukraine, Hungary, Czech Republic, Slovakia, Slovenia, Bosnia, Serbia, and Ajerbaijan. 17 Joint venture between la Caixa and Global
cards). 3 PRO100 figures (3.2 mil., $25.3 mil.) are not included. 4 Figures are for bank-owned POS terminals only. 5 Includes Credit Lyonnais. Carte Bancaire figures (5.5 Payments. 18 Carte Bancaire figures (0.5 mil., $25.5 mil.) are not included. 19 Payment unit of Intesa Sanpaolo. Pago Bancomat figures (380.5 mil., $23.98 bil.) are not
mil., $257.3 mil.) are not included. 6 Includes Norway, Denmark, Estonia, Finland, Latvia, and Lithuania. 7 Includes the Santander Elavon Merchant Services joint venture included. 20 Includes Russia, Ukraine, Belarus, Romania, Bulgaria, Slovakia, Czech Republic, Poland, Croatia, Bosnia, Serbia, Kosovo, and Albania. 21 Includes acquiring in
in Spain. 8 Carte Bancaire figures (3.6 mil., $166.3 mil.) are not included. 9 Includes Nets Oy in Finland, Teller in Denmark, Norway, and Sweden, and Kortaccept in Norway, Finland, and Denmark. 22 Carte Bancaire figures (1.0 mil., $35.7 mil.) are not included. 23 Joint venture between Allied Irish Bank and First Data. 24 Includes
Denmark, Finland, Norway, and Sweden. BankAxept and Dankort figures (2.69 bil., $108.01 bil.) are not included 10 Owned by ICBPI. 11 Includes Liechtenstein, Romania, Czech Republic, Croatia, Hungary, Serbia, Ukraine, and Slovakia. 25 Girocard figures (31.0 mil., $3.44 bil.) are not included. 26 Acquires for 85% of German
Luxembourg, Germany, Italy, Poland, Hungary, Belgium, and Austria. 12 Carte Bancaire figures (2.7 mil., $159.5 mil.) are not included. 13 Includes its pan-European savings banks. Girocard figures (640.0 mil., $31.15 bil.) are not included. 27 Owned by Nordic Capital.
operation in Germany, e-Service in Poland, Popular Payments in Spain, BOI Payment Acceptance in Ireland, and BOI U.K. Payment Acceptance in Northern Ireland. © 2016 The Nilson Report

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 © 2016 HSN Consultants, Inc. THE NILSON REPORT All Rights Reserved. Reproducing or allowing reproduction or dissemination of any portion of this newsletter in any manner for any purpose is strictly
prohibited and may violate the intellectual property rights of HSN Consultants, Inc. dba The Nilson Report.

Wells Fargo Wallet

from page 1...
initiate NFC-based payments. emulation-type using the Visa
Wells Fargo Wallet (WFW) will Token Service.
be part of the Wells Fargo mobile Wells Fargo supports Apple
banking app. Of the 17 million Pay, Samsung Pay, and Android
smartphones and tablets using Pay. Those apps require a
that app, 5 million are Android download and an enrollment
smartphone users. process for cards. Wells believes
some of its
customers will
prefer WFW, both
for its simpler
This summer, sign-up process and for the other
an automatic refresh of services available with the mobile
the banking app with the WFW banking app.
feature will be sent to Android Well Fargo becomes the
users, and Visa consumer and third top U.S. bank to offer a
small business card customers proprietary mobile
will be able to register. Wells payment app after Chase 5 million Wells cardholders
customers will make WFW and Capital One. Chase use Android smartphones.
purchases by tapping their Pay is QR code-based.
Android phone at NFC-enabled Capital One Wallet,
payment terminals worldwide, like Wells Fargo Wallet, is NFC-
including those in more than 1.4 based. Wells opted for NFC over
million U.S. merchant locations. QR codes because it wanted all
All transactions will be host card of its mobile payment users —
Apple Pay, Samsung Pay, Android
Pay, and WFW — to have the
same experience.
Cardholders will be able to
view their debit card account
balance or credit card line of
credit information within the app
before and immediately after a
purchase. They will also be able
to use Wells Fargo Wallet for
ATM transactions without using a
physical debit or ATM card. More
than 40% of Wells Fargo’s ATMs
will be NFC-enabled by the end of
2016. Apple Pay, Android Pay, and
Samsung Pay customers will also
have that ATM service.
Steve Ellis is Head, Innovation
Group at Wells Fargo in San
Francisco, California, (415) 371-
4567, elliss@wellsfargo.com,
www.wellsfargo.com.

Green Dot Money Online Marketplace

from page 1...
little or no credit histories or with subprime credit
scores. It has launched Green Dot Money, an online
marketplace, to offer loans in 46 states. The loans
will be made by third-party lenders that
are members of the marketplace. Green Dot will not
fund the loans or participate in underwriting them. It
will be paid a fee by the lenders when new loans are
successfully funded.
All lenders are licensed by state or federal
regulators. Cognizant of the Consumer Financial
Protection Bureau’s oversight of the subprime and
payday lending industries, Green Dot has vetted
lenders on its marketplace for their customer service
and collection practices as well as finance charge rates
and expected approval rates. Loans are expected to
range from $100 to $10,000. They will have short-
term and long-term payback periods. Loans can be
loaded on a Green Dot prepaid card or deposited in
the borrower’s checking account. Initial marketing
efforts will be aimed at Green Dot’s 4.8 million
existing customers.
Richard Kang is Senior VP and General Manager
at Green Dot Money in Pasadena, California,
(626) 340-6393, rkang@greendotcorp.com,
www.greendotmoney.com.
David Robertson, Publisher
May 31, 2016

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