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…

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…

Citi’s Costco Card Drives PDV +60% & Outstandings +28% – Q4 Profits Soft

Citibank North America branded credit card metrics exploded again in the fourth quarter (4Q/16) as the Costco card acquisition from American Express last year remains in high gear, according to CardData. However, card income declined by double-digits in the fourth quarter, driven by the additional costs associated to the Costco portfolio. North America Citi-branded card revenue…

Credit/Debit Card Payments Maintain Lion’s Share of All U.S. Consumer Payments

Purchases of goods and services totaled $9.550 trillion in 2015, up 3.4% year-on-year (YOY). The four card-based methods of payment of credit, debit, prepaid, and electronic benefits transfer generated $5.665 trillion in purchases or 59.32% of all consumer payment systems volume. Credit cards accounted for $2.932 billion, 30.70% of volume. Debit cards accounted for $2.420,…

First PCI PTS 5.x Certified Smart Payment Terminal Enters U.S POS Market

Ingenico has introduced its sleekest, most secure smart terminal specifically engineered for the ultimate checkout experience. Designed for speed and efficiency in any environment, the Lane/7000 enables merchants to increase customer engagement, improve brand loyalty and drive additional sales directly through the smart terminal.  The launch of this device also marks the introduction of Ingenico…