Regional Banks' Credit Card Push Is Just Getting Started
Regional and large community banks have proven they can persuade customers to add new plastic, emblazoned with the banks' own logos, to their wallets. The question for these issuers is: how much farther can they go with credit cards?
PICK A CARD: "The credit card is one of the most important components of the banking relationship that a customer has with us," said Bank of the West's Paul Wible.
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WEX Inc. has launched a new mobile application that searches for the most cost-effective gas station based on their location rather than just showing the price of gas. more »
MBNA Ltd. is working with MasterCard Inc. to test the MasterPass digital wallet in the U.K., with plans for a possible launch in early 2015. more »
Image: Bloomberg News
MasterCard CEO Ajay Banga
U.S. consumer spending this holiday season appears to be on track to surpass last year's even after initial reports of a Black Friday retail-sales slump, according to MasterCard Inc. Chief Executive Officer Ajay Banga. more »
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Discover Financial Services will take a $178 million charge in the fourth quarter to make changes to its cashback rewards program. more »
Blair Jeffrey, senior vice president of sales and business development for PreCash's Evolve Money.
A week after making Discover the first credit card offered in its mobile bill-pay service, PreCash Inc. has already seen a spike in the use of Evolve Money, which previously accepted only debit cards. more »
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FleetCor Technologies has completed its purchase of business-to-business electronic payments provider Comdata. more »
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Co-branding credit card partnerships has never been smooth sailing, but competition has clearly gotten tougher amid Apple Pay's launch. more »
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JetBlue Airways Corp. is in talks to replace American Express Co. as its credit-card partner, according to two people briefed on the matter. more »
Melissa Smith, CEO of WEX
WEX Inc.'s virtual card business has continued to grow as the company makes more payments to hotels for its online travel company clients. more »
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An Israeli company is hoping to make installment plans a routine part of credit card transactions in the U.S., relying on retailers, banks and other partners to promote its technology. more »
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American Express Co. is pulling new levers to build its business with small merchants and drive mobile wallet adoption, emphasizing its work with Apple Pay. more »
Image: Bloomberg News
American Express Co. said third-quarter profit rose 8.1 percent, beating analysts' estimates, as customer spending increased. more »
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