The nation’s second largest issuer, Bank of America (BofA), has slowly recovered from the “Great Credit Meltdown” of 2008-2009. BofA’s End-of-Year (EOY) U.S. credit card outstandings have produced a compound annual growth rate (CAGR) of -8.25% between 2009 and 2013, according to CardData.
In 1984, JCB decided to expand its cardholder base outside Japan and has been a steamroller ever since as global card transaction value has nearly doubled over the past five years. In 2014 JCB soared by 21.2%, following 21.0% year-on-year (YOY) growth in 2013.
Discover’s U.S. Purchase Dollar Volume (PDV) is growing 4.7% annually. slower than its peer group, however Discover is outpacing the top Visa and MasterCard in outstandings growth. RAM Research forecasts Q1/15 U.S. PDV will slightly exceed $27 billion.
Most bank fraud involves the use of false or anonymous identities. The growing concern however, lies with cybersecurity, as respondents named virus/malware installation and Distributed Denial of Service (DDoS) attacks as two of the top three fraud-related threat
Bankrate reported commissions for signing up new credit cardholders for issuers of $60.1 million for the fourth quarter, compared to $62.8 million in the prior quarter. Total revenue for Q4/14 is approximately $136.5 million.
Through TouchSuite’s Gift Card Exchange (GCE) merchants of TouchSuite’s Lightning Payment solution may now accept the gift cards of more than 100 top brands as a form of payment from their customers.
Brazil’s Itaú has inked a new 20-year agreement with MasterCard. As part of the agreement, Itaú and MasterCard will establish and operate a new electronic payments network in Brazil.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Talbott Roche, President of Blackhawk Network.
U.S. Bank has invested and joined clearXchange, the largest bank-focused digital payments network in the U.S. The investment will also afford the opportunity to explore other ways the payment exchange network could develop from its unified, omnichannel approach to customer service.
IL-based Infinite Peripherals has ankled payment industry veteran Tom McCole to the newly created position of mobile commerce strategy director.
In today’s CardFlash News Que: Westlake Financial (ACI); NCR (Waffle House); PaySimple (RainMaker); and Smart Aisle (Foodies).
CardWeb.com’s CardWatch database of more than 57,000 marketing items today features the NXT-ID ”Wocket Smart Wallet” TV ad from 2014.