Citibank North America branded credit card metrics exploded again in the fourth quarter (4Q/16) as the Costco card acquisition from American Express last year remains in high gear, according to CardData. However, card income declined by double-digits in the fourth quarter, driven by the additional costs associated to the Costco portfolio. North America Citi-branded card revenue…
Public Bank Berhad in Malaysia is now issuing UnionPay debit cards. The bank is the first local bank in Malaysia that has issued UnionPay cards. The card is particularly designed for the Malaysian residents who frequently travel in Asia, and it can be used in the UnionPay network across 160 countries and regions. Public Bank…
China UnionPay has topped 68 million UnionPay cards issued outside mainland China at year-end 2016. In 2017, UnionPay will start rolling out Asia Theme Card in markets outside mainland China to offer new payment options for business travelers who often visit Asia. A dozen of mainstream institutions in Central Asia and Southeast Asia plan to…
U.S. cards-in-force (CIF) for Visa and Mastercard payment cards (credit & debit) increased 7.8% year-on-year (YOY) in the third quarter (3Q/16), according to CardData.com. U.S. credit cards increased 11.2% YOY while CIF for debit cards rose 5.1% YOY, in 3Q/16. There are were 1249 million Visa and Mastercard payment cards in circulation in the U.S.…
The impact of the loss of the U.S. Costco and JetBlue programs continues to manifest itself in the American Express (AmEx) U.S. Card Services (USCS) unit during the third quarter (3Q/16). Revenue and income declined significantly year-on-year (YOY) as outstandings (OUT) also took a big hit, all by double-digits, according to CardData. AmEx reported 3Q/16…
UnionPay reports the official website of Turkish Airlines accepts UnionPay and the website of AirAsia support multi-currency payment with UnionPay cards. So far, 35 international airlines outside mainland China support online ticket booking with UnionPay cards, and many also provide exclusive offers for UnionPay cards. Recently, UnionPay International has reached cooperation with two more internationally…
The Financial Obligations Ratio (FOR) and the Debt Service Ratio (DSR) for the third quarter (3Q/16) edged upward, but continue to hover at near record lows. According to the Federal Reserve, on a seasonally adjusted basis, the FOR slipped upward to 15.44% in 3Q/16, compared to 15.43% in 2Q/16 and 15.39% in 3Q/15. The DSR…
U.S. credit card outstandings end-of-period (EOP) among the Top 4 U.S. issuers gained 9.1% in the third quarter (3Q/16) year-on-year (YOY) to $394.5 billion. The gain was driven largely by Citibank as its acquisition of the Costco card portfolio from American Express has skyrocketed outstandings. BofA was unseated as the nation’s second largest in the second…
There has been a significant change in consumer behavior in the global casino gaming market. The increase in the popularity of gambling apps and social gambling are the major factors expected to propel the growth of the market during the forecast period. Vendors are leveraging the growth in internet using population and increasing adoption of…
A new survey reveals numerous areas where Commercial Card providers can both educate and better serve their end-user clients. Solutions available today address top areas of concern such as control and security related to all product types. Solutions including automated compliance monitoring and mobile alerts are not yet commonly adopted by end-users but could address…
ME-based, WEX, a provider of corporate payment solutions, has ankled David Cooper for the newly created role of chief technology officer. The role was created to lead all aspects of corporate technology. In this position, Cooper will spearhead corporate IT and platform strategy, enterprise architecture, program management, information security, and IT infrastructure operations. “David brings…
TSYS confirmed the retirement of William Pruett as Senior Executive Vice President and President of TSYS’ North America Services segment, effective April 1st. A 40-year veteran of TSYS, Pruett started his career in the merchant area at Columbus Bank and Trust in 1976, and in 2011 assumed leadership of TSYS’ largest reporting segment. Under his…
