Synchrony Financial reported Q3/15 revenue increased 9% year-on-year (YOY) to $2.7 billion while net earnings came in at $574 million, compared to $548 million for 3Q/14. Loan receivables grew $7 billion, or 12% YOY to $64 billion. Purchase Dollar Volume (PDV) increased 12% for the third quarter.
Barclaycard US has inked an extension on their co-branded credit card agreement under which Barclaycard issues the priceline.com rewards Visa card. Barclaycard US is the fastest-growing top 10 U.S. credit card issuer.
MasterCard has launched Safety Net in Europe to reduce the impact of cyberhacking of banks and processors. It is designed to use the power of MasterCard’s global network, to identify unusual behavior and potential attacks – often, even before the bank or processor is even aware.
China UnionPay this week held the Conference on Regional Cooperation in Eastern Europe and Central Asia. Senior managers of dozens of major institutions in the region participated in the conference, including heads of People’s Savings Bank of Kazakhstan, Kazakhstan Commercial Bank, Kazakhstan Central Bank and Russian Agricultural Bank.
Velocity Mobile has acquired Tab Payments, a mobile payments app for tastemaker diners in Canada accepted at over 100 restaurants in Toronto and Montreal. The acquisition further expands Velocity’s reach, which now connects premier restaurants with global diners in six major cities in the US, UK, and Canada.
Merchant Customer Exchange (MCX) will add Buy It Mobility Networks Inc.’s (BIM) guaranteed, ACH payment tender to CurrentC. The CurrentC app is currently in its first phase of implementation in several retail locations, and will debut nationwide in 2016.
According to new research 60% of Americans created or used an online account with a retailer in the last 12 months, which suggests convenience ranks top-of-mind for U.S. shoppers. In fact, 47% said they create online accounts because it is quicker and easier to shop.
New U.K. research shows the adoption of mobile banking apps is no longer exclusively popular for “digital natives” (those born into the digital age), with take-up being spread across all age groups and segments
In today’s CardFlash News Que: GEMALTO (award); TIMETRIC (Argentina); CREDITCARDS.COM (retail cards); and TIMETRIC (South Korea).