CardWeb.com’s CardExecs database of payments industry movers and shakers today features Vicki Lawrence, Chief Operating Officer of Linqto.
Outstandings for Citibank-branded (Citi) cards in North America continues to erode, declining 4.3% last year from $70.5 billion at EOY 2013. Since 2009, Citi’s outstandings posted a compound annual growth rate (CAGR) of -3.39%, according to CardData. Among Citi’s peers, BofA and Chase are also in negative CAGR territory.
Visa’s Central Europe – Middle East – Africa (CEMEA) region remains the fastest growing international region with Gross Dollar Volume (GDV) up 16.8% Year-on-Year (YOY). However, Visa’s Asia Pacific region continues to claim the lion’s share of the international market with a 45.3% share, but Quarter-to-Quarter (QOQ) growth is slowing, according to CardData.
MasterCard’s (MC) global gross dollar volume (GDV) rose 6.0% on a nominal U.S dollar basis in 2014, but currency adjusted is up 12.9% year-on-year (YOY). The European and Latin America Caribbean regions are the big drivers behind the growth. RAM Research projects MC global GDV will log in around $1110 billion in Q1/15.
After a rocky road with prior credit card partnerships, Charles Schwab is setting its hopes on a new co-brand relationship with American Express. The two companies inked a multi-year deal to issue two new premium co-branded cards, presumably a charge card and a credit card in early 2016.
Citi announced it will be consolidating the Office Depot and OfficeMax retail credit credit agreements into one program, following the announced merger of Office Depot and OfficeMax. Citi Retail Services previously provided credit solutions to both retailers prior to the integration.