All articles by Verdict Staff
Verdict Staff
Citi launches digital loyalty card
Citi today revealed the introduction of a digital credit card featuring buttons which allow customers to redeem rewards. The Citi 2G Credit Card comes with two buttons that offer customers the choice to either pay for their purchase as usual or request a point or cash reward. We are excited to be the first issuer to pilot these advanced technologies and additional choice at checkout through the ‘next generation’ of credit cards,” said Terry O’Neil, executive vice president of Citi’s North America credit card division.
MasterCard, Visa settle on DoJ antitrust case
Visa and MasterCard have agreed to loosen anti-competitive price restrictions after the US Department of Justice filed an antitrust complaint against the companies. The card associations will relax restrictions on US merchants which limit their ability to offer discounts or incentives to consumers in order to promote cheaper methods of payment American Express (Amex), which was also included in the lawsuit, refused to join the settlement, arguing that with just 24 percent, it did not have enough market power to force merchants to surcharge goods in order to balance out swipe fees.
OCBC offers Singapore’s millionaires ‘elite’ card
Oversea-Chinese Banking Corp (OCBC Bank) has promised its latest credit card offering will cater to the rapid rise in demand for luxury lifestyles among Asia-Pacific’s elite.
Datacard’s DCS acquisition makes it instant issuance leader
Datacard Group and Dynamic Card Solutions have joined forces to become the industry-leader for instant card issuance solutions. Datacard Group, a card personalisation business, has acquired Dynamic Card Solutions (DCS),a world leader in instant issuance software for financial card programsthruogh its CardWizard software. This acquisition creates an industry-leading source for instant card issuance solutions, said Todd Wilkinson, president and CEO of Datacard Group
US economy, regulation concerns may be overdone – KBW
Analysts at Keefe, Bruyette & Woods (KBW) predict credit card issuers will be able to post strong earnings in spite of the impact of new legislation and a sluggish economy. Reviewing the earnings impact of the CARD Act, analysts Sanjay Sakhrani and Steve Kwok said issuers may be able to protect profitability through one of the provisions on APRs.
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Country Survey: Italy
Italy has been the first market in Europe to truly embrace prepaid cards and they are now sending its payments market into overdrive. Italian consumers interest in prepaid stems from a traditionally cash-based society, concerns over security and a tax levied on ordinary current accounts. Will Cain reports.
Customer service as a business driver
Research in the UK and US has highlighted the customer service leaders and laggards among credit card issuers in the countries. Those at the top of both charts had one thing in the common: they aimed to treat customer service as a business driver rather than a cost. Sarah Fitzmaurice reports.
Prepaid: The trouble with statistics
Consultancies have not had much luck predicting the growth of the prepaid market in recent years. The majority of estimates have proved over-optimistic, with variances of hundreds of percent. Will Cain reports on the problem predictions.
Barclaycard’s contrarian US strategy
As US issuers bail out of the co-branded cards sector, Barclaycard is finding itself a productive niche in the North American market. The UK-based issuer, currently the 12th-largest in the US by receivables, hopes the strategy will help it break into the countrys top 10 issuers.
Processors eye emerging markets
The acquisition of Venture Infotek by Atos Origin was the second major processing deal of the summer and showed a renewed emphasis on emerging markets. The fast-growing BRIC countries are generally seen as the most attractive, but higher premiums mean getting a bargain can be tough.