While Chase reported Q2/15 outstandings were flat year-on-year (YOY), purchase dollar volume (PDV) posted a weak growth rate of 6.5%. Furthermore, Chase is consistently signing up 2.1 million accounts per quarter, while losing 3.0 million accounts YOY.
Wells Fargo credit card second quarter outstandings were up 14% year-on-year (YOY) to $31.1 billion reflecting new account growth and growth in private label and co-brand outstandings driven by the Dillard’s card portfolio acquisition in the fourth quarter. However, credit card yield declined 40 basis points (bps) to 11.74%.
The third largest bank in Georgia, Liberty Bank, and China’s UnionPay announced in Tbilisi that all ATMs and POS terminals of Liberty Bank would formally start the acceptance of UnionPay chip cards.
Hongkongers’ growing passion for online shopping is furthered by MasterPass, a new digital payment platform, for the first time in Hong Kong, delivering a seamless, faster and safer online shopping experience for local consumers.
Seattle-based Remitly has acquired Talio, a mobile messaging company that developed an immersive, one-of-a-kind mobile messaging service for family and friends. Remitly is setting out to redefine money transfers to the developing world by creating a service customers love using.
The first Bitcoin book delving into cryptocurrency law in four jurisdictions: the United States, the United Kingdom, Canada and Germany has been released.
The password manager built for security and simplicity, is now compatible with Samsung’s latest biometric technology. Dashlane users can access everything they securely store in Dashlane, including passwords, notes, credit cards and personal information, simply by using their fingerprint to verify their identity.
NY-based PayItSimple USA has invaded the UK. The service lets consumers simply and easily charge any purchase on existing general purpose credit cards and pay it back in monthly, interest free installments.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Gabriel Yelin of President of Argentina’s CertiSur.
First Data (FDC) is acquiring digital gift card pioneer Transaction Wireless (TWI), the San Diego-based enterprise digital gift card distribution platform. First Data now provides its gift card clients, distributors, partners and resellers a fully integrated, comprehensive physical and digital gift card program.
Apple Pay is now live in the UK, and MasterCard has announced it will offer its cardholders immediate access to the new service helping them to use their cards where and how they want with a seamless experience.
CardWeb.com’s CardData database of Company Profiles today features AVT.