Big 6 Card Yields Q2/15

The average yield among the nations’s top six bank credit card issuers came in at 11.16% for the second quarter. Capital One (COF), the nation’s fastest growing major credit card issuer, again posted the highest yields, besting the average by 279 basis points (bps) in the second quarter, according to CardData

July UK Expenditure

UK consumer spending increased again in July, on an annual basis, household expenditure rose +1.9%, up from +1.4% in June, and slightly stronger than the average annual increase seen over the first half of 2015. Spending volumes also rose on a monthly basis in July (+0.1%), following declines in the prior two months. Meanwhile, expenditure declined fractionally on the quarterly measure (-0.1%), after a slight rise in June (+0.9%).

Alibaba & Suning

Ngzhou-based Alibaba and Suning Commerce have inked a deal wherein Alibaba will invest approximately RMB28.3 billion (US$4.63 billion) for a 19.99% stake in Suning, one of the largest consumer electronics retail chains in China. After the closing of the investment in Suning, Alibaba will be the second-largest shareholder in the company.

School Spending

Overall, parents anticipate spending an average of $1,239 this back-to-school season, up 8% from 2014, and up 24% since 2011. Technology for classroom use is a significant contributor to the added costs, with 82% saying their children use tech for learning (vs. 77% in 2014), including the following:

Ourocard

The demand for contactless cards is set to grow substantially over the period 2015-2019 in Brazil due to upcoming 2016 Olympic games. Meanwhile, contactless cards became available in the country in 2013 after the launch of the Ourocard card by Banco de Brasil.