Here it comes ” a short-term interest rate hike next month of 25 basis points for the first time since the first quarter of 2006. The prediction is based on today’s BLS report that payroll employment increased by 271,000 in October with the unemployment rate essentially unchanged at 5%.
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.
MobileRecharge.com will launch the World Top Up Day on November 10 to celebrate, for the first time in history, top up senders worldwide. The organizers announce the best offer possible for November 10: NO FEES when making a top up to a mobile abroad on Mobilerecharge.com that day.
Bankrate reported third quarter revenue of $140.8 million but delivered a GAAP net loss of $23.4 million. The investment to redesign o CreditCards.com site, which went live in April, is bearing fruit as it has helped drive a record number of unique visitors to the site.
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.