CardWeb.com’s CardData financial database projects Citibank’s U.S. bank credit card profits will decline slightly in the third quarter to $549 million. Citibank’s U.S. bank credit card profits rose 27% year-on-year (Y/Y) and retail credit card profits rose 11% Y/Y in the second quarter of 2014 (Q2/14).
The highest-status JCB card in China has been launched targeting the growing market of ultra-affluent Chinese consumers. The JCB Ultimate card will be issued by China CITIC Bank.
After declining over the past five years, Irish payment card Gross Dollar Volume (GDV) is expected to grow at a compound annual growth rate (CAGR) of 3.23% through 2018.
Bank of America (BofA) is starting today to add chip technology on all new and reissued consumer and small business debit cards. BofA has been issuing chip consumer, commercial and corporate credit cards in the U.S. since 2012.
Financial institutions (FIs) will now be able to able to instantly issue a fully personalized, activated physical magstripe or EMV debit or credit card and have the option to also issue a companion virtual payment credential.
American Express Serve and Intuit have teamed to offer consumers a new paperless option for IRS tax refunds. Tax preparers will now be able to issue a new American Express Serve Card as soon as the funds are transferred from the IRS.
MasterCard Peru acquirer, Procesos de Medios, will deploy EMV-capable mobile point of sale (mPOS) terminals from VeriFone, over the next two years.
CardWeb.com’s CardExecs database of card industy movers and shakers today features Paul Galant, Chief Executive Officer of VeriFone. The company has 5,600 employees worldwide and delivers payment solutions in 150 countries and across vertical markets.
Palo Alto, CA-based Nok Nok Labs has added a Trusted User Interface (Trusted UI) capability to the FIDO-Ready NNL S3 Authentication Suite. The new solution, delivered with Trustonic’s ARM TrustZone-based Trusted Execution Environment (TEE), provides strong security across mobile payments, m-commerce and the entire payments ecosystem.
Oink, the safe payment technology for families, has partnered with Funcom , control to in-game payments. Funcom has developed and published over 25 game titles across several genres and gaming platforms.
Global Payments says it is rebranding its global integrated solutions division to OpenEdge. This new division will drive innovation through the integration of advanced payments technology.
The nation’s largest drugstore chain is adding a new Western Union stage-and-pay kiosk to streamline the money transfer process. The new service will expand Walgreens Balance Financial platform which already includes a prepaid card.