China and Jack Ma Take Over U.S.-Based MoneyGram & its P2P Services

MoneyGram, a provider of innovative money transfer services, and Ant Financial Services Group, one of the leading digital financial services providers and parent company of Alipay, a global mobile payment platform, inked a deal to merge. The transaction will connect MoneyGram’s money transfer network of 2.4 billion bank and mobile accounts and 350,000 physical locations…

While Losing Marketshare BofA Holds Stable Q4 Credit Card Performance

The nation’s third largest Visa and MasterCard issuer continued to struggle in the fourth quarter (4Q/16) with sluggish outstandings (OUT) and purchase dollar volume (PDV) growth, but other metrics, remain fairly stable, according to CardData. Pre-tax net income edged down 1.8% YOY to $1290 million in 4Q/16, compared to $1218 million in the prior quarter…

Cost-Optimization Levers Helps Buyers of Network Payment Services

The global network payment services market is expected to witness momentous growth at a CAGR of 7.7% over the next five years due to the widespread adoption of digital payment solutions by not just businesses and consumers, but also the government, banks, and financial institutions. The research report titled ‘Global Network Payment Services Market: Procurement Intelligence…

Synchrony Inks Belk Credit Cards with Retailer Rewards

Synchrony Financial, and Belk, a private department store company, inked a multi-year renewal of Synchrony Financial’s consumer financing program. Belk operates department stores in 16 Southern states as well as belk.com and offers a wide assortment of national brands and private label fashion apparel, shoes, and accessories. Synchrony Financial has provided a consumer financing program…

Discover Cuts Back on Card Marketing – Q4 Profits Rise 13%

While not exploding, Discover’s (DFS) credit card portfolio continues to stay in positive territory. Year-on-year (YOY) growth in the fourth quarter (4Q/16) profits increased double digits reflecting a decline in marketing expenses for credit card marketing, according to CardData. Discover’s total revenue rose 6.9% YOY to $2358 million for 4Q/16, compared to $2301 million in…

Capital One EOY Outstandings – Solid #2 U.S. Issuer – Q4 Profits Plateau

Among the biggest bank credit card issuers in the U.S., Capital One (COF) continues to lead the way in every metric, except charge-offs. Based on fourth quarter (4Q/16) figures COF surpassed Bank of America (BAC) as the nation’s second largest issuer, by $5 billion, according to CardData. COF posted double digit year-on-year (YOY) gains in…

NFC, HCE, BLE, and QR Codes Driving Mobile Payments Globally

The global mobile wallet services market is expected to grow at a CAGR of 42% over the next five years due to the multiple functionalities they can offer both buyers as well as suppliers. A new report from Technavio,‘Global Mobile Wallet Services: Procurement Intelligence Report 2017-2021’ finds cost-saving opportunities can be leveraged if buyers have…

Airlines Profits Linked to Deployment of Robust Mobile Payment Solutions

Already accustomed to using smartphones to pay for everything from shared rides to in-app retail purchases, airline passengers are demanding access to the most popular digital wallet solutions and alternative payment methods (APMs) to meet their travel needs, such as Android Pay, Apple Pay, PayPal, MasterPass, Visa Checkout and Alipay. A new report from CellPoint…

LocoMobi Nails the Chicago Skyway Toll Bridge Payments Contract

Toronto-based LocoMobi, a specialist in cloud ecosystems for parking, is developing a fully integrated transportation system for parking, tolling and transit, creating an infrastructure that allows people and cars to move easily from city to city. The Chicago Skyway Toll Bridge serves over 14 million customers per year. LocoMobi’s license plate recognition technology will be…