Payments News » Card issuing

Sapphire Reserve Strains JPMorgan’s Ties With United Airlines

June 28 2019

in
Card issuing

“JPMorgan’s Sapphire Reserve has been a huge hit with frequent travelers and big spenders since its launch nearly three years ago. That is a problem for United Airlines Holdings Inc., which wants those same customers to sign up for and spend on the airline’s credit cards. For JPMorgan and other banks, promoting their own branded […]

Providers

A Goldman Sachs Rival Pulled Out of the Apple Card Deal on Fears It Will Be a Money Loser

May 29 2019

in
Card issuing

Within the industry, the deal is widely perceived as one that’s risky for a bank to take on. Citigroup was in advanced negotiations with Apple for the card but pulled out amid doubts that it could earn an acceptable profit on the partnership, according to people with knowledge of the talks. Other banks, including J.P. Morgan Chase, Barclays and Synchrony, also […]

Providers

Bank of America Adds Instant Card Issuing to Mobile App

July 1 2019

in
Card issuing

“Bank of America’s 27 million mobile banking users are now able to request a new or replacement debit card via the app — and instantly receive a digital version of their new card that they can use to start making purchases straight away. “This digital debit card has the same protections and benefits of a […]

Providers

Citigroup Doubles Down on Credit Cards Even As U.S. Economy Softens

September 6 2019

in
Card issuing

“Citigroup, the third-largest U.S. card issuer, according to payments industry publication The Nilson Report, has been among the most aggressive promoters of zero-interest balance transfers. For a small fee, customers can move debt from a rival card onto Citi’s plastic and pay no interest for 21 months. That is currently the longest 0% deal in […]

Providers

Goldman Sachs, Bank of the Rich and Powerful, Is Dipping Into Subprime Lending With Apple Card

August 9 2019

in
Card issuing

“Goldman Sachs is casting a wide net for customers of its new credit card with Apple , approving some subprime borrowers for the product. The bank, which is in charge of deciding who gets the Apple Card, is accepting some applications from users with less-than-stellar credit scores, according to people with knowledge of the matter. […]

Providers

Why Increasing Minimum Credit Card Payments Could Be Beneficial | CBC News

August 6 2019

in
Card issuing

“The rules around minimum payments on credit cards have changed in one province and others may soon follow. As of Aug. 1, banks in Quebec require a minimum payment of two per cent of the balance owing. It will eventually rise to five per cent by 2026.”

Providers

A profile of payment card services startup Marqeta

April 1 2019

in
Card issuing

“Despite a rough start, Marqeta has had the right idea since its founding in 2010. It pursued a niche in the payments-processing business that had seen little innovation in over a decade: card issuing and processing, which involves deciding whether a debit card transaction should be approved. It iterated through three business models, staying frugal […]

Providers

U.S. Bank Enters Co-brand Agreement With BMW to Issue New Cards With Enhanced Digital Experiences, Greater Value to Customers

July 23 2019

in
Card issuing

“U.S. Bank, the fifth-largest bank in the United States, has entered into a co-brand agreement with BMW Financial Services NA, LLC to issue credit cards that will deliver enhanced digital experiences and greater value to BMW, MINI and BMW Motorrad enthusiasts. U.S. Bank has also acquired the existing credit card portfolio from BMW Bank of […]