Tuesday , January 22, 2019

Credit Cards

A Providian-Barclays Deal Could Fuel Transaction Innovation

The news that Barclays PLC is talking to Providian Financial Corp. about buying the San Francisco-based credit card issuer has some observers speculating that the merger could accelerate the development of new electronic transaction products both in the U.S. and in Europe, where Barclays is a major card issuer with …

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Visa USA Reports Transactions Rose Nearly 12% in 2003

Visa USA reported today that its cards produced 16.1 billion transactions last year, an increase of 11.7% over its transaction volume in 2002. Although credit cards accounted for $650 billion in volume in 2003, or 59% of Visa's total dollar volume, signature-secured debit cards made up 59% of the bank …

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MBNA-AmEx Deal Helps Them More Than It Hurts the Bank Networks

The card-issuing alliance American Express Co. and MBNA Corp. announced yesterday will benefit the two financial-services companies more than it will hurt Visa and MasterCard, some observers note. Although MBNA, second only to Citigroup Inc. as a credit card issuer, has already said it will seek to convert current cardholders …

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AmEx Looks to Have Its First Bank Issuer by Year’s End

American Express Co. says it will be a matter of “months,” not “years,” until banks in the United States are issuing the company's card products now that the U.S. Second Circuit Court of Appeals has thrown out a motion from Visa International Corp., Visa USA Inc., and MasterCard International Inc. …

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Scotiabank’s Barrie Smart Card Pilot Readies for Its Next Phase

An ambitious multi-application smart card pilot launched late last year in Barrie, Ontario, is ready to move to its next phase, which will involve signing up 40 more merchant locations in February. Toronto-based Scotiabank, the issuer of the cards, will not release how many it has issued so far, though …

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Why Ticketing Kiosks Are Checking into Hotels

The next step in transaction automation in the travel industry may well be the introduction of self-service ticketing machines, which are getting increasing usage at airports, into related markets like hotels, allowing travelers to integrate several transactions into one. Already, self-service kiosks at hotels allow travelers not only to check …

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Chase-Bank One Merger Creates a Transactions Powerhouse

The merger of banking powerhouses J.P Morgan Chase & Co. and Bank One Corp., announced late yesterday, would create the nation's second largest credit card issuer as measured by credit outstanding, the banks' chief executives said this morning in a meeting with analysts. The combined bank would boast 95 million …

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Continental’s Kiosk Network Reaches All U.S. Airports It Serves

Continental Airlines has announced it has now installed ticketing kiosks in all domestic airports served by its planes. With a machine going online Dec. 31 at the airport in Reno, Nev., the airline's network of machines now numbers 779 across 130 U.S. airports. Continental says self-service check-in has become the …

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Credit Card Delinquencies Didn’t Faze Holiday Shoppers

The highest delinquency rate ever seen on credit cards did little to dampen transactions on the cards during the critical holiday season. The American Bankers Association reports today that late payments on credit cards reached a record 4.09% of all accounts in the third quarter of 2003, up from 4.04% …

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