The top six U.S. credit card issuers are all reporting a slight uptick in delinquency for the third quarter. However, Bank of America held steady. Therefore, charge-offs will likely head higher in the first quarter of 2015 as the fourth quarter denominator will be higher.
While CVS, Rite Aid and Walmart trashed Apple Pay this week, McDonald’s U.S. customers have another way to pay for their orders, thanks to a collaboration with Softcard. Customers will now be able to tap and pay both in-restaurant and in the drive-thru lane at all U.S. McDonald’s locations, marking the largest deployment of NFC-based mobile commerce in drive-thru.
First National Bank of Omaha has introduced the Yale University MasterCard. The Yale MasterCard features First Bankcard’s new Complete Rewards program.
The American Express’ Bluebird card has launched the “Get 2X” promotion for Walmart customers using Savings Catcher and Bluebird. Walmart and American Express are offering Bluebird for a $0 purchase price in store for the duration of the Get 2X program.
CardWeb.com’s CardExecs database of card industry movers and shakers today features Steven Streit, President and Chief Executive Officer of Green Dot Corporation.
San Francisco-based CARDFREE reports it is the mobile application platform provider enabling Taco Bell’s new mobile offering launched nationwide this week.
Among the nation’s top six credit card issuers charge-offs for the third quarter (Q3/14) of 2.49% are down 51 basis points (bps) year-on-year (Y/Y) and down 15 bps, quarter-to-quarter (Q/Q). However, the trend may reverse in the fourth quarter as delinquency took a turn North in the third quarter.
A mobile payments war is underway big time as Rite Aid and CVS block Apple Pay in favor of the soon to be introduced CurrentC. With CurrentC merchants will not have to pay swipe credit card network fees and will be able to track and instantly reward customers as a result of the lower fees.
Of the initial 500 financial institutions that have signed-up for Apple Pay and the two-thirds majority of credit unions, an estimated 90 of PSCU’s credit union member-owners are at the sponsor level. PSCU says the future of credit union relevance depends on how well credit unions understand and participate in the Millennial Shift and the digital revolution.
Siris Capital Group is ponying up $840 million to acquire Digital River. Digital River is a major global provider of Commerce-as-a-Service solutions.
CardWeb.com’s CardExecs da tabase of card industry movers and shakers today features R. Daniel Blanton, Chief Executive Officer of Southeastern Bank Financial Corporation and Georgia Bank & Trust.
VeriFone Systems and Vantiv have launched their “Secure Your Future Today” campaign to ensure merchants are ready for current and future payment technologies, including Apple Pay.