Bank of America (BofA) reported a decline of 1.2% in Year-on-Year (Y/Y) average U.S. bank credit card outstandings of $88.9 billion for the third quarter (Q3/14). Meanwhile, Purchase Dollar Volume (PDV) for BofA’s U.S. bank credit cards rose 1.9% Y/Y and flat Quarter-to-Quarter (Q/Q) to $53.8 billion.
Diebold this week introduced its next generation of ATMs boasting lower total cost of ownership, best-in-class security features and advanced technologies that offer a comprehensive suite of solutions. The new 5500 series of ATMs includes Diebold’s ActivEdge, ActivDispense, ActivPower, and Concierge Video Services.
CardWeb.com’s CardExecs database of card industry movers and shakers today features Andy Mattes, President and Chief Executive Officer of Diebold. The Company is a global leader in providing innovative self-service technology, security systems and related services.
A new study has found more than half U.S. companies use siloed electronic bill presentment and payment (EBPP) systems that cost them more than $1 billion annually.
First Data has improved its TransArmor Solution for small businesses. It incorporates several security and compliance products into one multi-layered, comprehensive solution.
Chase reported another strong quarter of bank credit card purchase dollar volume (PDV) in the third quarter (Q3/14). Charge-offs declined significantly from prior quarters. Despite the strong PDV, credit card outstandings remained soft, reflecting the shift to increased transactional use of bank credit cards.
Citibank’s U.S. bank credit card profits rose 17% year-on-year (Y/Y) and retail credit card profits rose 15% Y/Y in the third quarter of 2014 (Q3/14). End of Period (EOP) bank credit card outstandings declined 3% Y/Y, while purchase dollar volume (PDV) rose 4% Y/Y.
September consumer spending slightly declined sequentially. The reduced demand for fall merchandise and unseasonably warm weather may have contributed to the slowdown.
Over the past five years global debit payment volume posted a 14% CAGR (Compound Annual Growth Rate), compared to a CAGR of 7% for global credit payment volume. A new report suggests the economic downturn along with the previously unbanked population contributed to the disparity.
The seventh largest non-bank merchant acquirer in the U.S. has been sold for $1.5 billion. The deal generated a net profit of $700 million for the owners.
CardWeb.com’s CardExecs database of card industry movers and shakers today features Blake Wilson, President and Chief Executive Officer of Everbank. The bank specializes in unique banking, lending and investing opportunities.
The second largest company-owned and -operated convenience store chain in the nation and a top 25 issuer have launched a multi-function bank credit card for fuel and purchases.