Bank of America (BofA) reported a decline of 0.8% in Year-on-Year (Y/Y) average U.S. bank credit card outstandings of $88.4 billion for the fourth quarter (Q4/14). Meanwhile, Purchase Dollar Volume (PDV) for BofA’s U.S. bank credit cards rose 2.6% Y/Y and up 3.9% Quarter-to-Quarter (Q/Q) to $69.2 billion
The number of payment card portfolios sold in 2014 dipped to just five portfolios worth $2.7 billion. This was down significantly from year end 2013 and the record card deals done in 2012. In 2013 an estimated $17.2 billion in 10 portfolios were done, not including numerous tiny card portfolio sales ( < $10MM).
A common trend emerging in Latin America (LAC) is increased use of mobile devices for payment in online shopping, with close to a quarter of online payment users already having paid with smartphone at least once.
AZ-based Spindle has inked a deal with withTransaction Data USA (TD USA) to resell both Spindle’s payment aggregation services and its Yowza!! Offers mobile marketing services. TD USA is a payment processing industry consulting firm.
More than 500,000 Bangladeshi freelancers can now receive payments from international companies more quickly and cost-effectively thanks to partnership between Payoneer and Bank Asia.
A new customer case study of Xpress Bill Pay’s use of Prime Factors’ EncryptRIGHT data protection and enterprise crypto key management capabilities has been released. Prime Factors encryption and tokenization product is well regarded in the payments industry.
INSIDE Secure as signed an agreement with Entrust Datacard to participate in their Card Validation Program (CVP). Entrust Datacard offers solutions ranging from the physical world of financial cards, passports and ID cards to the digital realm of authentication, certificates and secure communications.
The majority of respondents in a new mobile payments market study said they use mobile phones for payment transactions. About 31% of customers anticipate an increase of 5%-25% in payments through mobile phones over the next six months.
Citibank faced a rough 2014 as fourth quarter (Q4/14)net revenues declined 8% sequentially (Q/Q) and flat year-on-year (Y/Y) to $16.5 billion. Citi’s Global Consumer Banking business declined 2% Q/Q and flat Y/Y to $9.5 billion for Q4/14.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Robert Hammer, CEO and Founder of R.K. Hammer.
Kansas City-based Commerce Bank is now offering a Visa Rewards credit card program in affiliation with Southern Illinois University (SIU) Alumni Association, North Dakota State University (NDSU) Alumni Association and Tennis Express.
In a payment card industry first, Clements Worldwide and the State Department Federal Credit Union (SDFCU), have teamed to offer a credit card-based term life insurance program.