The total U.S. credit card outstandings market of $884 billion at EOY 2014, rose nearly 5% YOY, with most of the robust growth coming from smaller banks and credit unions. Two of the largest issuers grabbed double digit shares: Chase with 14.4% and Bank of America with 10.4%.
Visa and MasterCard control 98% of the U.S. debit and bank-issued prepaid card market and it continues to grow faster than credit cards by 210 basis points (bps). RAM Research projects U.S. debit and prepaid Gross Dollar Volume (GDV) will grow from $2.6 trillion this year to $3.5 trillion for 2019.
Bulgarian payment cards will likely hit 9 million cards-in-force (CIF) this year growing at a compound annual growth rate (CAGR) of 2.08%. Transaction value is expanding at a CAGR of 7.33%, rising to BGN16.3 billion (US$8.7 billion) in 2014.
China UnionPay International has launched an online ticket booking service with UnionPay credit cards in cooperation with Taiwan High Speed Rail. Also, CUPI launched a UnionPay card payment service for shopping on China Airlines flights.
San Francisco-base Boku has launched direct carrier billing with the top five carriers in Taiwan: Chunghwa Telecom, Far EasTone, Taiwan Mobile, Asia Pacific Telecom, and Taiwan Star.
Google has added Dunkin Donuts and Seamless to Android users of Google Wallet. Dunkin’ Donuts guests can recharge their cards with a couple of clicks (no card rekeying) and Seamless customers will start to see the Google Wallet payment option available in their Android app, for an array of 80+ cuisine types.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Keith Birdsong, Chief Technology Officer of Pivotal Payments.
Online pre-orders for the new Apple Watch begin today but there is already a back log of four to six weeks. Meanwhile, Coupons.com has developed the first-of-its-kind savings and digital promotions app for the Apple Watch.
The payment industry earnings season kickoffs on April 14th with the release of first quarter for Chase and Wells Fargo. RAM Research’s DataDates says all of the big issuers will report over a period of seven consecutive business days in April.
CardWeb.com’s CardPixes database of more than 7,000 images today features the EqualityCard Visa issued by First American State Bank.
CardWeb.com’s CardData database of Company Profiles features debit card services provider DebitWay.
Tapingo landed a $22 million investment led by Qualcomm Incorporated through its investment arm Qualcomm Ventures. DCM Ventures, Kinzon Capital, and existing investors Khosla Ventures and Carmel Ventures also participated in the round. The company will use the funding to accelerate its expansion beyond the college market, with the goal of transforming local commerce.