Synchrony Financial continues to dig itself into a hole with retail credit cards and why it’s up for grabs. The Company reported its card platform revenue increased dismally at 5%, driven primarily by purchase volume growth of 10% and period-end loan receivables growth of 7%, with broad-based growth across partner programs.
TIO Networks has inked an arm’s length agreement acquire NJ-based Softgate Systems, a provider of consumer retail bill payment solutions. The acquisition is expected to close later this year.
NTT Communications will begin operating prepaid SIM card vending machines for foreign visitors to Japan at Narita International Airport from July 24.
Oberthur Technologies says brand new Lenovo smartphones will be equipped with its state-of-the-art NFC embedded Secure Element (eSE). Thanks to this very first partnership between OT and Lenovo, OT’s advanced eSE PEARL by OT will allow Lenovo to offer secure and convenient mobile payment and transport services.
Gemalto has buddied up with China’s ZTE to showcase Gemalto’s LinqUs On-Demand Connectivity (ODC) subscription management solution on ZTE smartphones, at Mobile World Congress Shanghai.
U.S prepaid king Green Dot announced the official opening of Green Dot Shanghai Software Technology. “Green Dot Shanghai” is a new wholly-owned subsidiary of Green Dot Corporation that is located in the Zhangjiang Hi Technology Park in the Pudong district of Shanghai.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Michael Carter, Co-Founder and CMO of Silicon Prairie.
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.
eBay’s PayPal racked up an 11.1% gain in year-on-year (YOY) accounts to 169 million. PayPal, a force to be reckoned with as it jettisons from eBay this year, is going to be a wrecking ball to the payments industry.
Vodat International is using Authentic, an intelligent payments platform from Alaric, an NCR business. Vodat is using the platform to underpin its Unified Payment Service, which is providing retailers with a managed, PCI-compliant card processing solution.
HomeSend and Dialog Axiata inked a deal to make international remittance services available to millions of consumers across Sri Lanka. HomeSend is a joint venture between MasterCard, eServGlobal and BICS.
TSheets and Square have teamed to offer up more time tracking possibilities at the register and beyond. By designing flexible software that syncs between platforms, Square and TSheets offer integrated technology that works better together.