Stung by the loss of the Costco co-branded credit card program, the recent loss of a recent DOJ lawsuit, and the potential of rising consumer interest rates, American Express’ (AXP) Asset-Backed Securities (ABS) credit card program should strong in 2015 given its liquidity profile.
Československá obchodní banka (CSOB) has introduced its Era World Rewards program powered by Vancouver’s Zafin’s miRevenue. For every one Czech koruna (approximately USD $0.05), the customer earns one point.
Singapore Telecommunications (Singtel) is gobbling up Chicago-based Trustwave for US$810 million. Singtel plans to combine its state-of-the-art information and communications technology (ICT) with Trustwave’s broad portfolio of managed security services.
U.S. bank credit card rates edged down slightly in February, 15 basis points (bps) from the prior month of 13.68%, however the stage is set for substantial rate hikes this year due to anticipated rate hikes by the FOMC in the second half. RAM Research forecasts U.S. bank credit card rates for accounts assessed interest will hit 13.77% at mid-year, then climb to 14.24% by end-of-year (EOY) 2015.
As expected U.S. revolving consumer credit outstanding declined $3.7 billion or 5.0% year-on-year (YOY) in February as consumers cleared-off holiday debt. Total revolving credit for February preliminarily posted $884.8 billion, compared to a revised $888.5 billion for the prior month and $889.5 billion at end-of-year (EOY) 2014.
In today’s CardFlash News Que: SHOPKEEP (SSBI); WEX (Evolution1); FIS (InfoShare Conference); and PYMNTS (R2).
U.S. Bank has inked deal with the American Red Cross’ to be the sole prepaid card provider offering Red Cross staff and clients safe access to emergency money with the U.S. Bank Prepaid Debit MasterCard Disaster Relief Client Assistance and Mission cards.
CardWeb.com’s CardPixes database of more than 7,000 images today features the KEB HanaCard Sync MasterCard.
Chase is launching a barrage of new ads showcasing everyday banking transactions like depositing checks through the Chase Mobile App or at Chase ATMs. The new Chase Mastery campaign features masters of various crafts such as the Rockettes.
CardWeb.com’s CardData database of Company Profiles today features data communications and interoperability solutions provider Transaction Network Services. Founded in 1990 in the United States, TNS has grown steadily and now provides services in over 60 countries across the Americas.
Upromise by Sallie Mae reports its Upromise MasterCard card surpassed $50 million in cash back earned for college last year. Collectively the MasterCard program has rewarded nearly $450 million total cash back since the card’s inception.
Acceptance of MasterCard consumer cards for Apple Pay is picking up more steam with the addition of 25 new financial institutions nationwide. In addition, cardholders with a MasterCard small business card from Bethpage Federal Credit Union or Navy Federal Credit Union can also now leverage Apple Pay.