Wells Fargo Wallet is integrating into the existing Wells Fargo mobile app experience for Android users, this summer. Wells Fargo Wallet quickly and conveniently adds eligible Wells Fargo debit and credit cards so customers may easily make purchases by tapping an Android phone at millions of NFC-enabled payment terminals worldwide. For more seamless money management,…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Citibank’s average yield for its North America retail credit card portfolio dropped slightly year-on-year (YOY) in the first quarter (1Q/16). However, charge-offs spiked quarter-to-quarter (QTQ) as both early stage and late stage delinquency edged upward during the first quarter. Citi’s retail credit card portfolio includes ExxonMobil, Macy’s, Sears, Shell, Best Buy,…
The popular connected health and fitness market specialist, Fitbit, has inked a deal to acquire the wearable payment assets of startup Coin. The deal includes key personnel and intellectual property specific to Coin’s wearables payment platform. While there are no plans to integrate Coin’s wearable payments technology into the 2016 Fitbit product roadmap, the acquisition…
A new global survey finds the ability to understand and use banking products is growing in importance worldwide, and consumers continue to expect more in terms of loyalty rewards than banks are providing. The FIS 2016 Performance Against Customer Expectations (PACE) Index also reveals expectations for aspirational support – consumers’ primary financial institution helping guide…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Purchase dollar volume (PDV), currency adjusted (FX), in the Latin American Caribbean (LAC) region has been rising steadily for Visa, while MasterCard has been gradually declining, over the past five quarters. However, for the first quarter (1Q/16) LAC card issuance for MasterCard is rising by double-digits year-on-year (YOY), while Visa’s LAC…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Purchase dollar volume (PDV) in Canada for Visa and MasterCard has been plummeting over the past five quarters, however card issuance in the first quarter (1Q/16) for both networks remained in double-digits year-on-year (YOY). For 1Q/16, Visa posted a 210 basis points (bps) decline YOY in PDV, while MasterCard reported a…
The Bancorp has ankled Damian Kozlowski as Chief Executive Officer of, President of The Bancorp Bank and a Director of the company and the bank, effective June 1st. Kozlowski succeeds Interim Chief Executive Officer John C. Chrystal. Chrystal will remain a Director of both the company and the bank. Kozlowski joins The Bancorp after having…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Australian credit card gross dollar volume (GDV) posted a dismal decline of 0.5% year-on-year (YOY) in March. Purchase dollar volume (PDV) decreased 0.5% YOY and cash dollar volume (CDV) was flat YOY in March. GDV rose in March to AU$26.3 billion, compared to a revised AU$26.1 billion in the prior month…
MN-based TCF Bank has rolled-out the ZEO prepaid card along with a suite of special cash services for consumers. ZEO’s products and services include a prepaid debit card, check cashing, a savings account, money orders, along with Western Union money transfers and bill payment services. The new ZEO products is available in all 342 TCF…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MasterCard is adding a new tool for small- and medium-sized (SME) businesses to control, prevent and monitor e-commerce transactions in real time. The solution, a complement to payments platform Simplify Commerce, helps businesses maximize online sales by letting legitimate orders through and keeping fraudulent transactions out. With a mobile app and…
In Other News: FINCA (First Access); TRUSONA (insurance); 3SCALE (Adyen); and PRECISE (OT). FINCA – FINCA and First Access, whose technology predicts the credit risk of borrowers in informal markets, announced a new collaboration that will create the largest and most sophisticated alternative credit-scoring approach by a microfinance institution (MFI) in the world. The partnership…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Capital One’s (COF) international (U.K.) credit card average yield and interest margin soared quarter-to-quarter (QTQ), and year-on-year (YOY) in the first quarter (1Q/16). However, other COF international credit card portfolio metrics soften and headed south for the quarter, particularly delinquency and charge-offs. COF gross revenues for the international card business edged…
