Synchrony Financial has inked two private-label card deals this week with The Pep Boys and Guitar Center. The Pep Boys card also delivers added value by providing a convenient way to pay for gas and for use at thousands of CareCareONESM dealers nationwide. Synchrony will work with Guitar Center, Musician’s Friend and Woodwind & Brasswind to offer special financing options.
CardWeb.com’s CardData Reports today features the inaugural Middle Market Power Index from American Express and Dun & Bradstreet. Using Dun & Bradstreet’s proprietary databases of commercially-active U.S. firms, the report analyzes the characteristics and economic impact of middle market enterprises”defined as businesses generating between $10 million and $1 billion in revenues.
Slightly more than one in five dollars (21%) of U.S. business revenues come from the middle market, and these firms employ over one in four workers (28%) in the private sector. Middle market companies have led job growth since 2008, with a 4.4% increase in private sector employment”outperforming both smaller businesses (less than $10 million in revenues) and the largest companies (more than $1 billion in revenues).
CardWeb.com’s CardPixes database of more than 7,000 images today features the RBC Visa Infinite Avion card.
Issues in supporting 3D Secure (Verified by Visa and MasterCard SecureCode) in the travel agency distribution channel are coming under the microscope. The second task force focused on improving processes to reduce credit card acceptance costs, including fraud and chargebacks.
In today’s CardFlash News Que: KOFAX (Blackhawk); SAFECHARGE (Tain); Q2 (Acculynk); and
Amalto Technologies (ServiceMax).
Merchant awareness is not keeping pace with mobile fraud growth, and the support for the mobile channel is not meeting predictions and expectations. In addition, concerns over the implementation around new payment methods such as Apple Pay have risen.
The global mobile money market is projected to grow from $12.34 billion in 2014 to $78.02 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 44.6%. In the year 2007 mobile money has evolved from providing payment transactions though Short Messaging Services (SMS) and Direct Mobile Billing to the more contemporary Near Field Communication (NFC)/ Smart Card transactions.
Chase reported purchase dollar volume (PDV) in the first quarter of $112.8 billion, up 7.9% year-on-year (Y/Y). The number of active credit card accounts also ticked up to 32.5 million, a 4.8% increase over first quarter 2014.
Wells Fargo Credit card first quarter outstandings were down 3% QOQ to $30.08 billion on seasonality, but up 15% YOY reflecting new account growth and growth in private label and co-brand outstandings driven by the card portfolio acquisition in 4Q14.
eBay continues to rejigger the upstair suits as it prepares for the separation of eBay and PayPal into independent publicly traded companies in the second half of 2015.
PreCash has inked a partnership with ProPack, developer of the productivity toolbox app for Android devices, to include its Evolve Money bill pay application in ProPack’s productivity bundles.