Payments News

On The Web

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Providers

Airlines Cash In on Loyalty Credit Cards

“Every major U.S. carrier earned more from credit-card and loyalty programs in the second quarter than during the year-earlier period, financial disclosures show. For many airlines, those increases outpaced overall sales growth. Much of the revenue comes from the credit cards associated with loyalty programs, though the programs don’t necessarily require customers to have a […]
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Companies

Introducing Stripe Issuing

“Stripe Issuing is an end-to-end platform for quickly creating, distributing, and managing physical and virtual cards. It’s infrastructure that enables you to do things like create employee expense cards with dynamic spending limits, generate virtual cards so marketplace couriers can pay with their phones at specific merchants, or run the entire card stack for a […]
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Providers

Credit-Card Issuers Not the Bargain They Appear to Be

“Rising interest rates mean credit-card companies will instantly earn more on their floating-rate loans. At the same time, the booming economy and tight labor market are keeping defaults low. This was underscored by Friday’s jobs report, which showed the unemployment rate at its lowest level since 1969.”
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Providers

The $10 Billion Tussle Over Walmart’s Credit Cards

“For nearly two decades, Synchrony Financial SYF -1.62% was the exclusive issuer of Walmart Inc. WMT +0.57% credit cards. The Connecticut-based bank stationed dozens of employees in Walmart’s headquarters city of Bentonville, Ark., some of its executives lived in the same gated community as their Walmart counterparts, and employees would hit the same golf course and hunt quail together. That came crashing down in […]
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Providers

Credit-Card Issuers Boost Spending on Social-Media Ads

“Credit-card pitches are moving from the mailbox to the social-media feed. Several big card issuers recently increased spending on Facebook ads in an effort to attract new borrowers. Capital One Financial Corp. and American Express Co.  spent an estimated $18.6 million and $13.5 million, respectively, on Facebook ads meant to sign up new consumer-credit-card holders in […]

On The Wires

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Providers

Visa Opens Door to Digital-First Payment Experiences Through Visa Next

“Today, Visa introduced a new platform with a set of beta APIs, specifications and development tools for issuers and issuer processors to begin building and beta testing new payment products to help meet the future needs of digital-first consumers. The offering will be available to clients and partners via Visa Next , a new destination […]