The nation’s second largest Visa and MasterCard issuer continues to struggle with sluggish outstandings and purchase dollar volume (PDV) growth, but credit card quality continues to improve. However, Bank of America’s signed up 1.3 million accounts in the second quarter, an 18% year-on-year (YOY) gain, the highest level since Q3/08, but yield fell 22 basis points (bps) in Q2/15.
U.S. Bank (USB), one of the nation’s largest commercial card issuers, posted a paltry 1.1% gain in year-on-year (YOY) outstandings, a weak 4.1% gain in consumer and commercial purchase dollar volume (PDV), as card income crept up a mere 2.7% YOY, according to CardData.
The worldwide economy continues to heat up as spending in Ireland soars 5.6% year-on-year (YOY) in June. Online spending accelerated by 13.6% YOY also in the second quarter.
The stoogey European Commission (EU) is giving MasterCard a lot of grief alleging its rules prevent banks from offering lower interchange fees to retailers based in another Member State of the European Economic Area (EEA), where interchange fees may be higher.
San Francisco-based InMobi, a mobile advertising platform has unveiled Miip, a revolutionary discovery platform that transforms advertising into moments of discovery for users and set to turn the market upside down.
U.S. prepaid cards head to a new dimension as SD-based Meta Payment Systems inks an agreement with Atlanta-based InComm. The Sioux Falls-based financial services company will become an issuing bank for InComm’s prepaid card programs.
The newest full-fledged Islamic bank in Oman – became, the first bank in the Sultanate to introduce NCR Interactive Teller, from NCR. alizz islamic bank is one of the first dedicated Islamic banks in Oman.
CardWeb.com’s CardData database of Company Profiles today features Blackhawk Network.
The Maryland Department of the Environment (MDE) launched their online Invoice Payment Service that allows business customers to pay invoices for permits and other MDE services online. The new Invoice Payment Service accepts all major credit cards and eCheck/ACH payments and is available 24 hours a day, seven days a week.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Amer Sajed, Interim Chief Executive Officer, Barclaycard.
CardWeb.com’s CardWatch database of more than 57,000 marketing items today features the MasterCard MEA “Theme Park.”
Los Angeles-based CU Wallet, a Credit Union Service Organization (CUSO) providing the industry’s first credit union driven mobile payments application, and Relevant Solutions have inked a strategic alliance integrating merchant offers and promotions with CU Wallet’s mobile wallet.