Tokyo-based Sumitomo Mitsui Trust Club is now the exclusive issuer and acquirer of Diners Club cards in Japan for Discover Financial Services’ Diners Club International.
Chase implied plans of collaboration with peer-to-peer (P2P) lenders are in the making as crowdfunding takes shape and legitimacy. New data shows the market in the U.S. is HUGE.
On again, off again, but now UnionPay has buddied up to bring Apple Pay into China. In a few months China UnionPay cardholders will be able to add their bank cards to Apple Pay on iPhone, Apple Watch and iPad.
Gross or open accounts (GAC) for U.S. credit cards among the Big 6 U.S issuers climbed 2.4% year-on-year (YOY) in the third quarter (3Q/15) to 272.0 million, compared to 269.1 million in the prior quarter, and 265.7 million one-year ago.
London-based Powa Technologies has inked a 10-year strategic alliance with China UnionPay to create a ubiquitous new standard in mobile commerce for CUP’s 1.3 billion credit and debit card users.
Purchase dollar volume (PDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) globally rose 2.5% year-on-year (YOY) on a nominal dollars basis. However, on a currency adjusted basis (FX) global PDV for the third quarter increased 11.4% YOY.
U.S. credit card outstandings end-of-period (EOP) among the Top 4 U.S. issuers gained a mere 1.7% in the third quarter year-on-year (YOY) to $361.6 billion. Capital One continues to defy gravity among the peer group with a 12% YOY gain.
U.S. Cash Dollar Volume (CDV) for Visa and MasterCard (credit + debit) in the third quarter (3Q/15) grew at an annual rate (YOY) of 4.6%.
Visa U.S. payment card (credit + debit) CDV for 3Q/15 was up 3.2%. MasterCard U.S. payment card (credit + debit) CDV for 3Q/15 was up 8.0%.
CardFlash News Briefs: PANGEA (D2D); PAYSWAG (Cloud); SEAMLESS (JYSK); and PERK (ZTE).
The Bancorp Finetics Studio video series, which features one-on-one conversations with more than 30 of the financial services industry’s most influential and innovative executives, has released its second installment.
Citi Retail Services has inked a multi-year renewal agreement with ExxonMobil for its consumer and commercial credit card relationship. The agreement with ExxonMobil is the eighth contract renewal Citi Retail Services has announced since the beginning of 2014.
The Consumer Financial Protection Bureau has been on a recent tear: hitting a small-dollar lender for illegal debt collection practices; warning colleges to improve disclosure of school-sponsored credit card agreements; and an upcoming proposal to regulate payday-type loans with more severity.