The average yield among the nations’s top six bank credit card issuers is expected to trickle upwards to 11.67% for the third quarter says RAM Research. The gang of six posted an average yield of 11.16% for the second quarter, according to CardData.
Purchase dollar volume (PDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) in the U.S. is growing 7.6% year-on-year (YOY) in Q2/15 reaching a record $1205 billion. It is expected PDV for Q3/15 will also hit a record $1301 billion, according to RAM Research.
Global purchase transactions (PTX) for Visa and MasterCard debit and credit cards, excluding Visa Europe, soared 12.6% year-on-year (YOY) in the second quarter (Q2/15) and 8.6% sequentially. It is expected the same growth rate will apply for the third quarter says RAM Research.
First Data expects to raise $3.7 billion in its initial public offering. The deal involves 160 million shares of its Class A common stock. The initial public offering price is expected to be between $18.00 and $20.00 per share.
P97 Networks says its P97’s PetroZone Mobile Commerce and Digital Marketing Platform has been certified to integrate with Verifone’s cloud-based POS and site management software solutions”providing gas stations and convenience stores a combined, fully integrated solution for mobile payment acceptance in-store and at the pump.
Nordstrom has closed on its credit card transaction with TD Bank U.S.A. The Company sold its credit card portfolio to TD for $2.2 billion span, representing the gross value of the outstanding receivables.
NASA Federal Credit Union is officially taking off with a suite of new Star Trek-branded credit cards. The four new cards, under license by CBS Consumer Products, provide unique benefits of Star Trek merchandise and experiences, as well as the outstanding value of the current NASA Federal Credit Union Platinum Advantage Rewards credit card.
Walgreens, the nation’s largest drugstore chain, this month launched Western Union Bill Payment services staged via digital self-service kiosks, allowing customers to make payments to 15,000 billers across the U.S. and beyond.
In today’s CardFlash News Que: STERLING (EMV); ADS (Wayfair); JCB (Universal); and W.CAPRA (EMV).
Alert Management Systems and Volatile Studios are enabling consumers to make a credit card payment right from a smart phone or tablet while signing for a rental contract or delivery.
AutoManager has integrated with TSYS’ ProPay to deliver fully integrated electronic auto loan payments for auto dealers. DeskManager, AutoManager’s DMS software, will now allow borrowers to pay auto loans by debit card, credit card or bank account.
NY-based CardFlight reports its suite of mobile solutions has been certified by First Data to accept EMV “chip card” payments.