The payment industry earnings season kickoffs on April 14th with the release of first quarter for Chase and Wells Fargo. RAM Research’s DataDates says all of the big issuers will report over a period of seven consecutive business days in April.
CardWeb.com’s CardPixes database of more than 7,000 images today features the EqualityCard Visa issued by First American State Bank.
CardWeb.com’s CardData database of Company Profiles features debit card services provider DebitWay.
Tapingo landed a $22 million investment led by Qualcomm Incorporated through its investment arm Qualcomm Ventures. DCM Ventures, Kinzon Capital, and existing investors Khosla Ventures and Carmel Ventures also participated in the round. The company will use the funding to accelerate its expansion beyond the college market, with the goal of transforming local commerce.
PayPal has made its acquisition of Paydiant official. Paydiant provides the mobile wallet platform for MCX whose members include many of the world’s largest retailers including Walmart, Target, Sears, Wendy’s, Exxon, CVS and many others.
Five of the top consumer finance companies made the Stable Rating Outlooks for this year. FitchRatings says the key ingredients are strong franchises and leading market positions, continued strong credit performance, appropriate risk-adjusted capital levels and increasingly diverse funding profiles.
CardWeb.com’s CardData Reports today features the “Flying Forward: What the Future Holds for Airlines and the Travel Industry” report from Airline Information, organizer of commercial airline, loyalty and co-brand card conferences across the globe.
In today’s CardFlash News Que: ARIBA (Award); IOFM (Studies); CASHSTAR (Award); and NACHA (Conference).
As expected U.S. revolving consumer credit outstanding declined $3.7 billion or 5.0% year-on-year (YOY) in February as consumers cleared-off holiday debt. Total revolving credit for February preliminarily posted $884.8 billion, compared to a revised $888.5 billion for the prior month and $889.5 billion at end-of-year (EOY) 2014.
U.S. bank credit card rates edged down slightly in February, 15 basis points (bps) from the prior month of 13.68%, however the stage is set for substantial rate hikes this year due to anticipated rate hikes by the FOMC in the second half. RAM Research forecasts U.S. bank credit card rates for accounts assessed interest will hit 13.77% at mid-year, then climb to 14.24% by end-of-year (EOY) 2015.
Singapore Telecommunications (Singtel) is gobbling up Chicago-based Trustwave for US$810 million. Singtel plans to combine its state-of-the-art information and communications technology (ICT) with Trustwave’s broad portfolio of managed security services.
Československá obchodní banka (CSOB) has introduced its Era World Rewards program powered by Vancouver’s Zafin’s miRevenue. For every one Czech koruna (approximately USD $0.05), the customer earns one point.