True, mobile payments are becoming increasingly popular as a form of P2C #payment methods, but make no mistake – cards are not going anywhere anytime soon. At least, that’s according to RBR’s latest report. According to RBR’s Global Payment Cards Data and Forecasts to #2022, report, the number of #card-accepting merchant outlets rose by 7 million …Read More
Bank Innovation
Since EMV chip cards have made point of sale fraud more difficult, e-commerce has seen a sharp increase in fraudulent activity.
Financial Technology
Transactions:
Partnership Renewals:
New Partnerships:
New Products/Features:
Mobile & Tech:
1 Total receivables for non-retail issuers at end of 4Q17. 2 Total purchase volume of non-retail issuers in 4Q17. 3 After-Tax ROA excludes Wells Fargo, Chase, Bank of America and US Bank, which do not report credit specific income. 4 YoY = Year-over-year change versus 4Q16. 5 QoQ = Quarter-over-quarter change versus 3Q17. Note: PV is reported PV for the quarter (it is not annualized or TTM)
1 Chase no longer discloses an ROA measure directly attributable to Card Services. 2 Citi: Purchase volume includes cash advances. 3 Capital One: U.S. card business, small business, installment loans only. Purchase volume excludes cash advances. 4 Bank of America: Receivables, purchase volume and net loss rates are for U.S. consumer cards. ROA estimate is discontinued. 5 Discover: includes U.S. domestic receivables and purchase volumes only. Restated: ROA reflective of Direct Banking segment (credit card represents ~80% of loans) and implied U.S. Cards tax rate of ~40%. ROA denominator estimated from total loans ended totals. 6 American Express: Changed reporting method as of 1Q16. Figures are for U.S. Consumer segment only and exclude small business. 7 US Bank: Net Income attributable to Payments Services totaled $ 309M as of 4Q17, compared to $ 322M in 4Q16; Payments Services includes revenue from consumer credit cards, as well as commercial revenue and other sources. 8 A/R and PV for Retail Card unit only. 9 Loss rates and ROA include all of SYF’s business lines (i.e., Retail Card, Payment Solutions, and CareCredit). Retail Card accounts for about 70% of total receivables. 10 Average Receivables.
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EXCLUSIVE—#Card company #Dynamics Inc. revealed its #Wallet Card, described by the company as the “world’s #first” #connected payment card, at the CES conference currently taking place in Las Vegas, the company announced today. The card, which was developed in tandem with global #banks and payment providers such as Visa and Mastercard, relies on Internet of […]
Bank Innovation
Here comes the world’s #first #virtual #transit #card in #Android Pay, well at least according to #Google and Portland’s #public #transport #operator #TriMet, who teamed up to unveil the Hop Fastpass. TriMet announced today that a group of TriMet C-Tran and Portland Streetcar beta testers can now load this virtual card into Android Pay and […]
Bank Innovation
Smart #card #Edge has bought the remaining assets of #Plastc, which folded in April. Yes, smart cards are still around — sort of. The idea behind many of them was that multiple cards could be loaded by mobile app, and deployed as the situation demanded, based on rewards or merchant offers. The most famous smart card, […]
Bank Innovation
EXCLUSIVE – October saw a plethora of new #credit cards. From traditional #banks such as HSBC releasing its Premier World Elite Mastercard Credit #Card, to ride-share app Uber’s first foray into the market, it seems like everyone is interested in launching a new credit card promising to deliver what the other doesn’t. The distinction each […]
Bank Innovation
EXCLUSIVE – With its first #credit #card out today, New York #fintech #Petal aims to serve the “credit invisible,” according to its CEO and co-founder Jason Gross, by granting credit cards sans credit #score. Instead of focusing on credit scores, Petal looks at an applicant’s financial behavior. The consumer’s digital financial profile has three main […]
Bank Innovation
#PayPal #launches its first cash-back #credit #card called PayPal #Cashback MasterCard in the U.S. exclusively for PayPal members in a effort to increase usage in online and physical stores. The card will be issued by Stamford-based Synchrony Bank, which has partnered with PayPal since 2004. The card offers 2% cash back on all purchases, with […]
Bank Innovation
#American Express will sell its #prepaid–#card #technology to payments solution provider #InComm Holdings, the company said Thursday. Terms of the deal, which is expected to close in the Q1’18, were not disclosed. According to the announcement, InComm will also become the exclusive distributor of American Express’s prepaid reloadable and gift card products in the U.S. […]
Bank Innovation
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