PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Horsing Around with Chase Credit Cards

Brian Riley by Brian Riley
February 7, 2018
in Analysts Coverage
0
Credit Card

Credit Card

2
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

The card industry is relatively strict, but not perfect, about what can go on credit cards; because of the high throughput, it relies on merchant category codes that define each business-type.  You have probably noticed news in the press lately because Bitcoin is viewed as a speculative investment that card issuers do not want to hold as credit card risk, but here is an interesting ditty on a change in pari-mutuel betting, with horses, just in time for Kentucky Derby in May.

  • The National Thoroughbred Racing Association (NTRA) announced Feb. 6 that JPMorgan Chase, the largest credit card issuer in the United States with more than 80 million active cardholder accounts, has begun approving credit card deposit transactions with S. licensed and regulated advance-deposit wagering companies.

It is all about the Merchant Category Codes (MCC) which bucketize payment transactions, define acceptability, and impute interchange.

  • The NTRA said the decision by Chase to accept cardholders’ account-funding transactions with ADWs approved to use the industry’s “7802” merchant category code is expected to have a significant and positive impact on overall U.S. pari-mutuel handle, particularly advance-deposit wagering, which already is the fastest growing segment of the U.S. pari-mutuel wagering market.

Right now, Chase is in front of this issue by a nose…

Overview by Brian Riley, Director, Credit Advisory Service at Mercator Advisory Group

Read the quoted story here

Tags: ChaseCredit Cards
2
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    cross-border payments

    Cross-Border Payments: Fighting
    E-Commerce Fraud Using Data

    March 20, 2023
    fraud, ChatGPT-4

    How to Fight Fraud While Still Enabling a Great Online Customer Experience

    March 17, 2023
    RTP

    Financial Institutions Without an RTP Strategy Risk Being Left Behind

    March 16, 2023
    visa chargeback

    New Visa Chargeback Guidelines Will Be a Game Changer

    March 15, 2023
    liquidity management

    Liquidity Management Takes on Increasing Importance in Uncertain Economic Times

    March 14, 2023
    payments

    Key Challenges from Growing Payment Methods and Volume

    March 13, 2023
    Data Governance is a Journey, financial data

    How FIs Can Power Their Operations with a Modern Data Architecture

    March 10, 2023
    ISO 20022

    How Banks Can Realize Business Benefits and Reduce Payments Fraud With ISO 20022

    March 9, 2023

    Linkedin-in Twitter

    Advertise With Us | About Us | Terms of Use | Privacy Policy | Subscribe
    ©2023 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    Menu
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • Recent News
    • Resources
    Menu
    • Industry Opinions
    • Recent News
    • Resources
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Autorek complimentary report: Payments Industry Outlook 2023: