Sunday , May 27, 2018

BofA Debit Card Volume Increases and other Digital Transactions News briefs from 1/19/18

  • Bank of America Corp. this week said fourth-quarter purchase volume on its debit cards rose 6% year over year to $77.9 billion. Debit card purchases for all of 2017 totaled $298.6 billion, up 5% from $285.6 billion in 2016. BofA claimed 24.2 million active mobile-banking customers at year’s end, up 12% from 21.6 million a year earlier.
  • Private-label and cobranded credit card issuer Synchrony Financial said fourth-quarter purchase volume on its cards increased 3% year over year to $36.6 billion.
  • Discover Financial Services said acceptance of its Discover, Diners Club, and affiliated card brands will expand in Hong Kong under an arrangement it struck with processor First Data Corp. and the Japan-based JCB card network.

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