The 30+ day delinquency ratio for U.S bank credit cards continues to hover at a 25+ year low for the past two quarters and hit the lowest level since 1986. However, RAM Research projects early stage delinquency will rise 4 basis points for the second quarter.
The charge-off ratio for the top 100 U.S bank credit cards has been slowing edging upward, rising 10 basis points (bps) in the fourth quarter and 1 bps in the first quarter. RAM Research projects charge-offs will rise to 3.02% for the second quarter.
Brooks Brothers and Citi Retail Services have inked a new multi-year credit card relationship. As part of the agreement, Citi Retail Services, a unit of the 203-year-old global bank, will provide private label and co-branded credit cards for the nearly 200-year-old retailer.
FL-based ZipLine, a merchant-branded mobile and ACH payment solutions provider offering consumers instant rewards at the pump and POS, announced the appointment of consumer loyalty and payments veteran Roger Brooks, as Senior Vice President of Business Development.
Two of the world’s largest operating systems launched major updates to their mobile payments solutions this month. Both Google and Apple now have a solid platform in Android Pay and Apple Pay to enable frictionless mobile payments with integrated loyalty features.