Big 4 Q3 GAC

Gross or open accounts (GAC) for U.S. credit cards among the nation’s four largest issuers climbed 2.0% in the third quarter to 188.0 million, compared to 184.4 million one-year ago. The growth is driven by Capital One, while Chase, Bank of America (BofA) and Citibank face year-on-year (YOY) and quarter-to-quarter (QOQ) GAC erosion.


Banks everywhere are responding to digitalization by integrating online banking with mobile technologies to meet the needs of customers across all channels, from tablets to smartphone users. Next week Wincor Nixdorf will be showcasing this technology its device – CINEO C2020.

MagicPay Free EMV

FL-based MagicPay Merchant Services has announced a program to place free EMV terminals with merchants who do not currently have one. With this new program, any merchant that applies for a merchant account with MagicPay, and that does not yet have an EMV terminal, will receive one at no cost.