When asked about personal finances, on average 60% of African American, Asian and Hispanic consumers said they expect their financial situation to be “somewhat” or “much” better a year from now, compared to 48% of the combined general population.
In today’s CardFlash News Que: CHECKALT (FinTech); ThreatMetrix (expansion); NCR (Billa); and FINGERPRINT (earnings).
American consumers continue in a buying mode after ratcheting up revolving credit by $4.0 billion or 5.6% year-on-year (YOY) in August. However, the year-on-year (YOY) gain is a notch below July’s revised gain of 6.6%.
Gross or open accounts (GAC) for U.S. credit cards among the nation’s four largest issuers will likely climb 1.9% in the third quarter to 191.0 million says RAM Research. GAC rose 2.0% in the second quarter to 187.4 million, compared to 183.7 million one-year ago, according to CardData.
Early stage delinquency (30+ days) among the nation’s top 6 issuers is likely to remain flat in the third quarter at 1.63% projects RAM Research. In the second quarter delinquency edged down by 11 basis points (bps) sequentially down 10 bps year-on-year (YOY), on average, among the nation’s top six U.S. credit card issuers, according to CardData.
Stash Hotel Rewards, a loyalty program for independent hotels, has partnered with Synchrony Financial to launch the Stash Hotel Rewards Visa Card. The only hotel loyalty credit card that awards double points for stays at any hotel.
Live Nation Entertainment, the world’s largest live entertainment company, has inked a deal with Appetize for full suite of POS products. The deal is expected to roll out the payment platform across 32 of the company’s U.S. venues.
The Consumer Financial Protection Bureau (CFPB) has sets its gatling gun on arbitration clauses which block consumers from suing in groups to obtain relief.
MasterCard has formed a global partnership with mobile commerce provider P97 to make it easier for consumers to find, buy and save on gasoline and convenience store purchases through their mobile phones.
The National Retail Federation (NRF) blasted the EMV migration noting small businesses should not be pressured to install the equipment to accept them at the expense of more effective technology. The NRF told Congress that new chip-and-signature credit cards without a PIN will not stop data breaches.
Citi and NBC’s TODAY inked a new multi-year sponsorship for the Citi Concert Series on TODAY, to provide year-round opportunities for millions of Citi customers,
In today’s CardFlash News Que: INTECH (Forte); PIVOTAL (white paper); PRESTIGEPAY (website); and KONY (exec).