CardWeb.com’s CardWatch database of more than 57,000 marketing items today features the Standard Chartered PIA CoBrand Credit Card TV spot.
In today’s CardFlash News Que: MM HAYES (Quickcharge); BLUEPOINT (MDT); NEW MEDIA (funding); and HP (FireEye).
Discover’s credit card outstandings continued strong in the first quarter rising 5.1% as Purchase Dollar Volume (PDV) rose 2.7%, year-on-year (YOY). While all other credit card metrics remained stable, overall net income for Q1/15 declined 7.1% YOY to $586 million.
Gross Dollar Volume (GDV) for Visa, MasterCard, Discover and American Express U.S. credit cards is expected to top $4 trillion annually by year-end 2019. According to forecaster RAM Research, the U.S. GDV for the U.S. credit card industry is growing at a CAGR of 9.23%.
A new study reveals PayPal is already feeling the heat of Apple Pay in just the first six months. The pain will only get worse as more consumers indicate they prefer mobile payments over digital payments.
Data leaks and phishing attacks continued unabated. Account information (40%) was the primary target of hackers in 2014, followed by credit card information (20%). The United States was hit harder than any other country when it came to data breaches.
While some Apple Pay critics scoff at the low number of retailer locations available as its coming demise, others argue that writing off Apple Pay for its slow initial adoption misses the forest for the trees.
Citibank’s average yield for its U.S. retail credit card portfolio rose 33 basis points (bps) in the first quarter, compared to one-year ago, and up 16 bps sequentially. The net interest revenue (NIR), which includes some fees, also jumped by 49 bps year-on-year (YOY) for Q1/15 and up slightly from the prior quarter.
The number of U.S. debit cards issued on the Visa, MasterCard, American Express and Discover networks is expected to reach 856 million by year-end 2019. According to forecaster RAM Research, the U.S. debit card industry is growing at a CAGR of 6.04%.
MasterCard and IFC, a member of the World Bank Group, are establishing a risk-sharing facility, which is expected to provide millions of people in emerging markets access to electronic payments. It is all part of an effort to increase universal financial access by 2020.
The five million members of the Fuel Rewards program can now link their loyalty, credit, debit and prepaid cards to their smartphones. These capabilities will be complemented by the May 2015 roll-out of the company’s next-generation card-linked offer (CLO) program, which allows members to link any debit or credit card to the loyalty program.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Rick Weller, Executive Vice President and Chief Financial Officer of Euronet Worldwide.