Wells Fargo credit card third quarter outstandings were up 15.3% year-on-year (YOY) to $34.0 billion reflecting new account growth and growth in private label and co-brand outstandings. Purchase Dollar Volume (PDV) grew 12% YOY in 4Q/15. For the Fourth quarter, Wells posted $18.9 billion in PDV, compared to $18.3 billion in prior quarter. The number…
First Data posted 3Q/15 revenue of $2.9 billion, up 5% year-on-year (YOY). Segment revenue, which modifies consolidated revenue for pass-through items and other impacts, was $1.8 billion for the quarter, up 4% YOY, or up 7% excluding currency impacts.
San Francisco-based OmnyPay has launched its first integrated mobile loyalty, rewards and payment system designed specifically for retailers. OmnyPay enters the mobile payments market with major competitive advantages: a clear focus on a long-standing retailer problem, a proven management team, and a first-of-its kind solution to solve the “last inch” of the mobile payments process.
CardWeb.com’s CardData database of Company Profiles today features Barracuda Networks.
First Data’s continued losses, laden with debt and milked by KKR minions makes its upcoming IPO for fools. The Company, valued at $40 billion, managed to lose $26 million in the second quarter which it blames on foreign currencies – total mismanagement and lack of foresight.
Synchrony Financial has inked two private-label card deals this week with The Pep Boys and Guitar Center. The Pep Boys card also delivers added value by providing a convenient way to pay for gas and for use at thousands of CareCareONESM dealers nationwide. Synchrony will work with Guitar Center, Musician’s Friend and Woodwind & Brasswind to offer special financing options.
Prepaid card king The Bancorp has ankled Gail Ball as Executive Vice President and Chief Operating Officer. Most recently she served as the Head of the Payment Studies Group of the Federal Reserve Bank of Richmond.
Austin-based Mozido is plowing big bucks into HCE (host card emulation) technology via a strategic investment in SimplyTapp.
Mozido will leverage SimplyTapp’s open card issuance platform to allow merchants to support NFC for more efficient and secure transactions within the merchants’ branded mobile application environment.
The financial services arm of Carrefour in Brazil has inked a deal though 2014 with TSYS. TSYS supports Carrefour’s 12 million hybrid and private-label cards in circulation in Brazil.
CardWeb.com’s CardExecs database of card industry movers and shakers today features Lynne Laube, President, COO & Co-Founder of Cardlytics. The Company developed a suite of technologies that enabled banks to leverage consumer purchase data, ensure privacy for their customers and optimize a growing new channel ” online and mobile banking.
hyperWALLET Systems cross-border corporate payment solutions completed a growth equity financing with Primus Capital. hyperWALLET technology platform and global financial network provides brand-enhancing B2C and P2P services for global corporations and financial institutions. Already the market leader for commission payment distribution, with customers including Forever Living, Scentsy and Monavie, the financing will immediately allow hyperWALLET to invest in expanded sales and marketing initiatives domestically and abroad, extend an industry-leading product set, address additional end markets, and build upon its existing infrastructure and licensure portfolio. hyperWALLET has opened an office in San Francisco to support the effort.
Sam’s Club has finalized a multi-year agreement with GE Capital Retail Bank to extend their existing relationship to provide Sam’s Club-branded credit cards to club members in the U.S. and Puerto Rico. As part of the extension, GE Capital’s Retail Finance business will continue to manage and service the credit card programs for Sam’s Club Savings, Business and Plus members. Under the agreement, the Sam’s Club co-branded credit card programs will be converted to MasterCard later this year, providing members with a broader card acceptance network, as well as more robust features and benefits.