Big 6 Outstandings Q2/15

U.S. credit card outstandings end-of-period (EOP) among the Big 6 issuers rose by a mere 2.3% year-on-year (YOY) in the second quarter to $474.5 billion. Capital One (+11.0%) and American Express (+6.9%) YOY led the pack, with Discover (+4.2%), while Chase was flat, BofA (-0.6%) and Citibank (-4.2%), cleaned up the rear, according to CardData.

Canadia Bank & UnionPay

Phnom Penh-based Canadia Bank and China’s UnionPay have inked a deal for card issuance cooperation. Under terms of the deal UnionPay debit cards will be launched at the beginning of the next year to provide local residents with more convenient and preferential payment services for daily purchase and international travel.

Sumitomo Mitsui- & Fintech

Japan’s Sumitomo Mitsui Banking has partnered with Plug and Play’s Financial Technology and Security Platform of Innovation. The strategic partnership between Sumitomo Mitsui Banking Corporation and Plug and Play FinTech will provide startups with the support they need to further transform the world of financial technology.

Target Beacons

Target, the nation’s most innovative retailer, will start testing beacon technology in 50 of its stores nationwide. With beacon technology, the company says it will be able to send information about deals as well as recommendations directly to consumers’ smartphones, provided they opt in to receive these alerts.

BitPay Partnerships

BitPay has nailed several partnerships with payments companies from around the globe. During the first half of 2015, the company has signed deals with PSPs Payfirma, Sonic Payments, BillPro, Kadu, OpenPay, and Ixopay. These payments companies are based on three continents and, in total, serve more than 100 countries.

FIS SNAP

SNAP card benefits are being extended to Wisconsin and New Mexico thanks to FL-based FIS. More than 205,000 households in New Mexico are enrolled in Supplemental Nutrition Assistance Program (SNAP), and more than 450,000 households in Wisconsin receive benefits via SNAP or Women, Infants and Children (WIC) – both federal programs created to provide support to individuals and families.