The average late stage U.S. credit card delinquency (90+ day) among the nation’s six largest issuers increased 7 basis points (bps) sequentially, to 0.81% for the second quarter, compared to 0.74% in the prior quarter and 0.86% one-year ago. However, all the issuers were down year-on-year (YOY), according to CardData.
U.S. cards-in-force (CIF) for Visa and MasterCard credit cards increased 9.0% year-on-year (YOY) while CIF for debit cards rose 7.7% YOY, in the second quarter, according to CardData. Visa is leading U.S. credit card CIF in YOY growth, while MasterCard leads U.S. debit cards CIF YOY gains in 2Q/15.
The Saudi Investment Bank (SAIB) has been awarded with ‘Best Loyalty Program of the Year in Financial Services’ at The Loyalty Awards, honoring special recognition of innovation and achievement in loyalty marketing.
Geoswift, Western Union Business Solutions and UnionPay International launched a promotion wherein UnionPay will pay for medical insurance coverage for eligible students that process tuition payments through their payment network.
NY-based Payoneer says Wellington Management Company has led a $50 million investment in Payoneer. Susquehanna Growth Equity, an existing shareholder, also joined the funding.
Samsung Pay will launch in Korea on August 20 and in the U.S. on September 28. Samsung plans to roll out the service in the U.K., Spain and China, with partners to be named in each market.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Eckard Heidloff, President & CEO of Wincor Nixdorf
The Visa Digital Enablement Program (VDEP) has been joined by Samsung. The program offers a commercial framework that makes it easier for issuers and technology companies to access the Visa Token Service.
CardWeb.com’s CardData database of Company Profiles today features U.S Bankcard Services.
CardWeb.com’s CardWatch database of more than 57,000 marketing items today features the Discover Card TV spot – “Surprise Party!” from 2014.
In Europe, card payments remain among the most popular payment methods for e-commerce transactions. However with increased safety concerns and high merchant costs, across the continent a growing number of consumers are turning to alternative payment methods to complete their transactions.
The largest provider of private label credit cards in the U.S.announced that the benefits and features available on Synchrony Bank-issued private label credit cards will be easily accessed by the upcoming Samsung Pay.