Synchrony Rock ’n Rolls Posting a Solid 3Q/16 for Retail Cards

Synchrony Rock ’n Rolls Posting a Solid 3Q/16 for Retail Cards

Synchrony Financial’s retail credit card business revenues posted an 11.2% year-on-year (YOY) gain for the third quarter (3Q/16) to $2.79 billion. Retail card outstandings continue to be aided by the recent acquisition of the BP portfolio during the second quarter. During the quarter Synchrony renewed key relationships – TJX Companies, hhgregg, Nationwide Marketing Group and…

Briefs: INTEL; BMO; VANTIV; and WU.

In Other News: INTEL (Visa); BMO (MasterCard); VANTIV (products); and WU (omni-channel). INTEL – Intel and Visa inked a collaboration agreement to help bring world-class payment and data security technologies to the growing world of connected devices—from personal computers and mobile devices, to intelligent appliances and wearable technologies. With the spectrum of commerce growing in…

Six FIs in Asia-Pacific Adopt the UnionPay Chip Card Standard

Six FIs in Asia-Pacific Adopt the UnionPay Chip Card Standard

UnionPay confirms its chip card standard licensing cooperation with seven member institutions of Asian Payment Network (APN). With this cooperation, the major switch networks in Singapore, Thailand, South Korea, Malaysia, Indonesia and the Philippines will adopt UnionPay chip card standard in card acceptance and card issuance. UnionPay acceptance network has expanded to 160 countries and…

Briefs: PAYROC; CHOSEN; BLUEBIRD; and KOUPON

In Other News: PAYROC (acquisition); CHOSEN (NLA); BLUEBIRD (website); and KOUPON (Verifone) PAYROC-Payroc LLC, a leading merchant services and payment processing organization, announced today that it has acquired the assets of payment gateway and merchant account provider The iTransact Group, LLC. The transaction results in a notable expansion of Payroc’s payments business, adding 300 trusted…