As expected U.S. revolving consumer credit outstanding declined $3.7 billion or 5.0% year-on-year (YOY) in February as consumers cleared-off holiday debt. Total revolving credit for February preliminarily posted $884.8 billion, compared to a revised $888.5 billion for the prior month and $889.5 billion at end-of-year (EOY) 2014.
U.S. bank credit card rates edged down slightly in February, 15 basis points (bps) from the prior month of 13.68%, however the stage is set for substantial rate hikes this year due to anticipated rate hikes by the FOMC in the second half. RAM Research forecasts U.S. bank credit card rates for accounts assessed interest will hit 13.77% at mid-year, then climb to 14.24% by end-of-year (EOY) 2015.
Singapore Telecommunications (Singtel) is gobbling up Chicago-based Trustwave for US$810 million. Singtel plans to combine its state-of-the-art information and communications technology (ICT) with Trustwave’s broad portfolio of managed security services.
Československá obchodní banka (CSOB) has introduced its Era World Rewards program powered by Vancouver’s Zafin’s miRevenue. For every one Czech koruna (approximately USD $0.05), the customer earns one point.
Stung by the loss of the Costco co-branded credit card program, the recent loss of a recent DOJ lawsuit, and the potential of rising consumer interest rates, American Express’ (AXP) Asset-Backed Securities (ABS) credit card program should strong in 2015 given its liquidity profile.
Wright-Patt Credit Union (WPCU) members who own an Android Wear watch can now seamlessly check account balances with a flick of the wrist, without the hassle of logging-in to the mobile app. The app os powered by NCR’s Digital Insight.
Discover’s (DFS) financial performance will face downward pressure from a number of factors including increased competition, normalizing credit performance and heightened legal and compliance expenses this year. However, operating performance for DFS’ credit card Asset-Backed Securities (ABS) is likely to remain strong in 2015, despite a decline in net income last year.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Chris Harvey, Vice President/Client Services for YapStone.
CardWeb.com’s CardConferences today features the Wearable Tech Conference & Expo, featuring FAST (Fitness & Sport Wearable Tech Conference), July 13 – 15, 2015, at the Jacob Javits Center in New York, New York. The event’s agenda will provide attendees with new perspectives on wearable tech devices and technology.
CardWeb.com’s CardData database of Company Profiles features software solutions provider to the broadband, telecom, and utility service provider NuTEQ Solutions.
NuTEQ enables carriers to bring their customer service initiatives into the mobile era. We help you by implementing state-of-the-art mobile phone solutions that use SMS, mobile apps to deflect calls around common account questions.
NuTEQ provides not only mobile technology implementation, but also the marketing know-how and optimization expertise to ensure long-term benefits to your business.
NFRC Co Parent Info
Virginia Beach-based StratusLIVE has unleashed its integrated mobile online fundraising software. The newest software offering from StratusLIVE is designed to allow nonprofits to seamlessly integrate charitable donations directly from the website to the StratusLIVE for Fundraisers database for flawless execution of online fundraising campaigns.