RI-based Citizens Bank has unveiled a new credit card offering up to 1.8% cash back with no annual fee and none of the category restrictions or caps on rewards often found with other rewards cards.
After a rocky road with prior credit card partnerships, Charles Schwab is setting its hopes on a new co-brand relationship with American Express. The two companies inked a multi-year deal to issue two new premium co-branded cards, presumably a charge card and a credit card in early 2016.
MasterCard’s (MC) global gross dollar volume (GDV) rose 6.0% on a nominal U.S dollar basis in 2014, but currency adjusted is up 12.9% year-on-year (YOY). The European and Latin America Caribbean regions are the big drivers behind the growth. RAM Research projects MC global GDV will log in around $1110 billion in Q1/15.
Visa’s Central Europe – Middle East – Africa (CEMEA) region remains the fastest growing international region with Gross Dollar Volume (GDV) up 16.8% Year-on-Year (YOY). However, Visa’s Asia Pacific region continues to claim the lion’s share of the international market with a 45.3% share, but Quarter-to-Quarter (QOQ) growth is slowing, according to CardData.
Outstandings for Citibank-branded (Citi) cards in North America continues to erode, declining 4.3% last year from $70.5 billion at EOY 2013. Since 2009, Citi’s outstandings posted a compound annual growth rate (CAGR) of -3.39%, according to CardData. Among Citi’s peers, BofA and Chase are also in negative CAGR territory.
Digital River is processing online payments for peerTransfer, a provider of global payment solutions for foreign students and educational institutions. peerTransfer is using the Digital River World Payments solution to facilitate student tuition payments made via credit card in 59 currencies across North America, Asia Pacific, Europe and parts of Africa.
In today’s CardFlash News Que: TapTrack (NFC); Connect First (PCI); ParTech (m-POS); and Cubic (TfL).
Calpian has selected Conformance Technologies has selected its PCI ToolKit and TINMatch ToolKit offerings. Calpian will use PCI ToolKit solution for PCI DSS merchant portfolio compliance validation, and the TINMatch ToolKit for merchant business entity name and federal TIN matching.
MasterCard is enabling acceptance of chip cards, contactless payments, and QkR! with MasterPass at the Arnold Palmer Invitational Presented by MasterCard. MasterCard and the PGA TOUR debuted contactless payment acceptance at the Waste Management Phoenix Open in January.
Optimal Payments has ankled Shane Hibbeler, a seasoned merchant services and financial services industry sales executive and manager, as vice president of sales.
NXP, Infineon and STMicroelectronics have scored the highest ratings of top IC vendors active within the payment cards. A total of five companies were scrutinized against 10 different criteria all under the categories of Implementation and Innovation.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Kathy Nevill, Chief Financial Officer of EFT Source.