Virgin Money Announces UK Credit Card Business Launch

What's Next In Payments®
4:52 PM EDT January 28th, 2013

Virgin Money has announced it will be launching its own credit card business, following an agreement to buy £1 billion of assets from the Virgin credit card portfolio from MBNA Ltd, part of Bank of America Corporation. Virgin Money has partnered with MBNA since 2002 to provide marketing and direct distribution of Virgin credit cards. The programme is currently managed and serviced by MBNA through a partnership agreement. The acquired credit card book will be transferred fully to Virgin Money’s own operations in early 2014.

Read the full story here.

Topics:
Comments
Also by This Author
What's Hot
B2B Payments
Kenya Launches Online eProcurement System
B2B Payments
National City Bank, PNC Sued For $80,000 In P-card Rebates
B2B Payments
Healthcare Payment Firm Introduces New Payment Platform
B2B Payments
New ERP Software Provides Metals Specialist With Enhanced Billing Efficiency
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
B2B Payments
Kenya Launches Online eProcurement System
B2B Payments
National City Bank, PNC Sued For $80,000 In P-card Rebates
B2B Payments
Healthcare Payment Firm Introduces New Payment Platform
B2B Payments
Why Are UK SMEs Tolerating Non-Payment?
View All Articles ››