Citibank’s average yield for its U.S. retail credit card portfolio rose 33 basis points (bps) in the first quarter, compared to one-year ago, and up 16 bps sequentially. The net interest revenue (NIR), which includes some fees, also jumped by 49 bps year-on-year (YOY) for Q1/15 and up slightly from the prior quarter.
The number of U.S. debit cards issued on the Visa, MasterCard, American Express and Discover networks is expected to reach 856 million by year-end 2019. According to forecaster RAM Research, the U.S. debit card industry is growing at a CAGR of 6.04%.
ICICI Bank has teamed with Tech Mahindra to launch its ‘Tap n Pay’ contactless payment service in India. The new Near Field Communications (NFC) feature is a prepaid account available to customers of any bank by simply registering for it and transferring money online from any bank account. It requires no documentation or branch visit.
Moneris Solutions and UnionPay have inked a deal enabling Moneris merchants to offer UnionPay card acceptance to UnionPay cardholders in Canada for traveling, study, living and business.
MasterCard and IFC, a member of the World Bank Group, are establishing a risk-sharing facility, which is expected to provide millions of people in emerging markets access to electronic payments. It is all part of an effort to increase universal financial access by 2020.
Discover Financial Services and the British Hospitality Association (BHA) are joining forces to share know-how, intelligence and expertise on the UK market, as well as technological advancements and any industry developments with all BHA members and the wider hospitality community.
The five million members of the Fuel Rewards program can now link their loyalty, credit, debit and prepaid cards to their smartphones. These capabilities will be complemented by the May 2015 roll-out of the company’s next-generation card-linked offer (CLO) program, which allows members to link any debit or credit card to the loyalty program.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Rick Weller, Executive Vice President and Chief Financial Officer of Euronet Worldwide.
CardWeb.com’s CardPixes database of more than 7,000 images today features the Barclaycard Black Visa card.
San Francisco-based Credit Karma is expanding to offering “thin file” consumers access to the information in their credit files and details on why they do not have a credit score. The information site will also offer recommendations.
CardWeb.com’s CardData database of Company Profiles features Welcome Real-time.
CardWeb.com’s CardConferences today features the NCCR Conference, June 1-3 at Hyatt Regency in New Orleans.