While not exploding, Discover’s (DFS) credit card portfolio continues to stay in positive territory. Year-on-year (YOY) growth in the first quarter (1Q/16) was limited to single digits, but charge-offs (CO) headed higher due to the historical seasonal impact of a first quarter. Discover’s total revenue rose 2.4% YOY to $2224 million, compared to $2205 million…
AmEx reported 1Q/16 gross revenue for its U.S. card business (USCS) rose 3.0% YOY to $3280 million, while net income increased 5.0% YOY to $694 million. Gross revenue for the AmEx international card business (ICNS) declined slightly (-1.0%) YOY, or +8.0% currency adjusted (FX), to $1313 million and net income slipped 5.0% YOY to $188…
While Southwest Airlines Rapid Rewards has been named frequent flyer Program of the Year, in the credit card category, American Express was a big winner by issuing two of the three winners: the Starwood Preferred Guest Card from American Express and the Flying Blue American Express Card. The 2016 Freddie Awards also named the ADIB…
To beef up its existing technology to help speed EMV transactions and shoppers through checkout lines, MasterCard has unveiled M/Chip Fast. Developed on the principles of contactless or ‘tap-and-go’ technology, M/Chip Fast effectively prioritizes the parts of transactions that are critical to security. MasterCard says cardholders can expect to experience speeds closer to the familiar…
UnionPay International and Industrial and Commercial Bank of China US (ICBC US) have issued the first UnionPay credit card in New York. It’s both the first UnionPay credit card issued in the US market and the first credit card issued by a Chinese commercial bank in the US. UnionPay and ICBC are significant strategic partners…
Major League Baseball has re-inked its longstanding partnership agreement with MasterCard. The first Priceless ad spot in 1997 featuring a father and son at the ballpark aired during the World Series. ARTICLE: Major League Baseball has re-inked its longstanding partnership agreement with MasterCard. The first Priceless ad spot in 1997 featuring a father and son…
Worldpay unveiled a unique offering for the UK payments industry that will provide a greater range of payment pricing options, meaning SMEs can find the perfect payment plan to fit their business. Taking inspiration from the mobile telephony industry, the UK’s number one payment provider has added ‘Pay As You Go’ and ‘Fixed Monthly’ card…
International cash transactions (CTX) for Visa and MasterCard credit and debit cards grew by 8.2% year-on-year (YOY) in the fourth quarter (4Q/15). International CTX for credit cards decreased 4.6% YOY while international CTX for debit cards rose 9.2% YOY in 4Q/15. In the fourth quarter gross international payment card cash transactions for Visa and MasterCard…
In Other News: TNS (Bluefin); MONERIS (talech); I3 (acquisitions); and NFG (EMV). TNS – Transaction Network Services is partnering with Bluefin Payment Systems to provide Bluefin’s Decryptx PCI-validated Point-to-Point Encryption (P2PE) solution within its Managed POS Encryption suite. MONERIS – Moneris Solutions and talech have formed a strategic partnership and referral agreement. As part of…
JCB has inked a partnership agreement which allows Nets to use J/Speedy, JCB’s contactless technology, for Dankort payments with smart phones in Denmark. When Nets launches Dankort on the mobile in autumn 2016 it will thus be based on an international, well-proven technology from JCB, an international payments scheme originating from Japan. JCB has many…
Electronic Payment Exchange (EPX) has become one of the first processors to support Ingenico Group’s IWL228 and iWL258 wireless smart terminals with EPXPay Wi-Fi. EPXPay Wi-Fi will provide both SMBs and large merchants alike with a flexible, low-cost, versatile payment experience. Using EPXPay Wi-Fi enables a merchant, whether it’s a small business location using it…
The new Dubai First MasterCard is being jazzed-up by MasterCard, Uber and Dubai First to exclusive deals and benefits. One of most important benefits comes from Uber. Dubai First MasterCard cardholders receive a 10% discount on Uber trips. New and existing Uber customers using a Dubai First MasterCard Credit Card can also take advantage of…