Positive credit trends contributed to “solid first quarter financial performance” at Discover Financial Services, Discover Interim CEO and President Michael Shepherd said in a Wednesday (April 23) earnings release. The digital banking and payment services company saw its net income leap 30% year over year...
As the economy faces potential challenges, credit card companies are taking proactive measures to prepare for a downturn. These companies, recognizing the possibility of more customers struggling to pay their bills, are tightening lending practices and setting aside funds to cover potential losses. Recent earnings...
Many consumers without traditional credit cards are more receptive to credit-like products such as store cards and buy now, pay later plans, signaling a potential opening for financial institutions willing to tailor their offerings. A new report, “Decision Guide: What Credit Card Outsiders Want —...
A federal judge has thrown out the Consumer Financial Protection Bureau’s (CFPB) late fee cap. The ruling by U.S. District Judge Mark Pittman came after the bureau agreed with opponents that the rule was illegal, Reuters reported Tuesday (April 15). Pittman granted a joint request...
Revolut is reportedly building a rewards-based credit card that would use the RevPoints points system the company launched in July for use with debit cards. The company’s new points-based credit cards are in the early stages of development, will be available in the U.K. and...
Credit card performance metrics are showing signs of “consumer distress,” the Federal Reserve Bank of Philadelphia said Wednesday (April 9). Both the percentage of credit card accounts 90 days past due and the share of credit card accounts making the minimum payment reached the highest...
Visa reportedly offered Apple about $100 million to get the tech giant’s credit card business, which is held by Mastercard. The offer came as the payment network and rival American Express are trying to win the Apple card business, and Mastercard is fighting to keep...
Card issuing — once the province of big banks — is changing, as issuers move beyond basic transaction services to stay competitive. In the process, they face growing demands for digital-first experiences, seamless integrations and data-driven personalization. What sets best-in-class card issuers apart? One metric...
Mastercard and Visa are probing claims that illegal gambling websites facilitated deposits through their networks. An investigation into the sites found that Mastercard and Visa were failing to prevent their networks from being used for those transactions, The Guardian reported last week. The investigation —...
