In today’s CardFlash News Que: CSI (NuPoints); OPENTABLE (survey); AMEX (survey); and CREDITCARDS.com (card fees).
Citibank North America branded credit card profits declined 10% and Citi retail cards declined 12% year-on-year (YOY) in the second quarter (Q2/15). End-of-Period (EOP) outstandings also slipped 4.1% and the Citi North America branded card base shrank 4% YOY in Q2/15.
The nation’s second largest Visa and MasterCard issuer continues to struggle with sluggish outstandings and purchase dollar volume (PDV) growth, but credit card quality continues to improve. However, Bank of America’s signed up 1.3 million accounts in the second quarter, an 18% year-on-year (YOY) gain, the highest level since Q3/08, but yield fell 22 basis points (bps) in Q2/15.
U.S. Bank (USB), one of the nation’s largest commercial card issuers, posted a paltry 1.1% gain in year-on-year (YOY) outstandings, a weak 4.1% gain in consumer and commercial purchase dollar volume (PDV), as card income crept up a mere 2.7% YOY, according to CardData.
San Francisco-based InMobi, a mobile advertising platform has unveiled Miip, a revolutionary discovery platform that transforms advertising into moments of discovery for users and set to turn the market upside down.
U.S. prepaid cards head to a new dimension as SD-based Meta Payment Systems inks an agreement with Atlanta-based InComm. The Sioux Falls-based financial services company will become an issuing bank for InComm’s prepaid card programs.
CardWeb.com’s CardData database of Company Profiles today features Blackhawk Network.
The Maryland Department of the Environment (MDE) launched their online Invoice Payment Service that allows business customers to pay invoices for permits and other MDE services online. The new Invoice Payment Service accepts all major credit cards and eCheck/ACH payments and is available 24 hours a day, seven days a week.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Amer Sajed, Interim Chief Executive Officer, Barclaycard.
CardWeb.com’s CardWatch database of more than 57,000 marketing items today features the MasterCard MEA “Theme Park.”
Los Angeles-based CU Wallet, a Credit Union Service Organization (CUSO) providing the industry’s first credit union driven mobile payments application, and Relevant Solutions have inked a strategic alliance integrating merchant offers and promotions with CU Wallet’s mobile wallet.
CardWeb.com’s CardConferences today features the HEALTHCARE PAYMENTS INNOVATIONS conference, July 27-28, 2015 at Hyatt Regency Boston.