The eBay PayPal divorce is over and will quickly evolve into a major disruptive force in payments and e-commerce to the dismay of the payment networks. Under the leadership of former American Express executive and now PayPal President and CEO Dan Schulman the Company will likely grow at a compound annual growth rate (CAGR) of nearly 17%.
Citibank’s average yield for its U.S. retail credit card portfolio rose 11 basis points (bps) in the second quarter, compared to one-year ago, and up 4 bps sequentially. The net interest revenue (NIR), which includes some fees, also jumped by 26 bps year-on-year (YOY) for Q2/15, but down slightly from the prior quarter. Also, credit quality improved in the quarter.
The largest telecom operator in Korea, KT, agreed last week to deepen cooperation with China’s UnionPay for mobile payment and technology exchange. The deal covers six major fields as Near Field Communication (NFC), mobile payment, online payment, cross-border remittance, electronic marketing based on smart mobile terminal, financial-technology business, and promote the comprehensive upgrading of innovative payment service via UnionPay cards in Korea.
eBay will not be the same without PayPal and most analysts agree they have an uphill battle long-term due to intense competition. However, eBay is expected to divest its Enterprise business in a deal valued at $925 million, according to Forbes.
London-based Worldpay has ankled Sir Michael Rake to become Non-Executive Chairman on September 1. Sir Mike brings a wealth of experience to Worldpay, having spent 30 years at KPMG where he was Senior Partner at KPMG UK, as well as Chairman of KPMG International.
New research shows about 50% of survey respondents are now shopping using a mobile device. Almost one-third are purchasing a product after seeing it on social media. Approximately one-third of survey respondents indicate that text offers would drive an incremental shopping visit. Value propositions, including free shipping, loyalty programs and personalized offers, continue to be important.
An all-in-one, tablet point-of-sale (POS) system for small business has hit the market. The new NCR Silver Register runs NCR Silver in the cloud and excludes third-party user applications to help maximize employee productivity and help minimize security risks.
A new study explores everything from whether googling diners before they arrive is creepy or cool to what diners think of emerging in-meal technologies like on-table touchscreens and mobile payment. However, 46% of diners say they have “never” used a phone to pay at a restaurant but like the idea.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Pang Xiusheng, Executive Vice President of China Construction Bank.
CardWeb.com’s CardData database of Company Profiles today features Denmark’s Cryptomathic.
CardWeb.com’s CardPixes database of more than 7,000 images today features the 5STAR Bank Visa.
CO-based CPI Card Group, a specialist in financial and EMV chip card production and related services, has ankled two key executives. David Brush will lead Finance, IT and Project Management Organization (PMO) activities for CPI and Lisa Jacoba will serve as Chief Human Resources Officer.