Tagged: credit cards

Hong Kong’s Credit Card Spending Surges in Q4 Amid Festive Season

In the latest credit card lending survey released by the Hong Kong Monetary Authority (HKMA), figures for the fourth quarter of 2023 showed a significant uptick in credit card usage among Hong Kong residents. Total card receivables soared by 8.5% to HK$160.1 billion at the… Read More

Bank of Ireland Credit and Debit Card Data Reveals Spending Surged Compared to Last January

Bank of Ireland credit and debit card data for the first two weeks of January reveals that ‘New Year, New You’ spending in gyms and sports clubs shot upwards “compared to last January.” As noted in the update shared by the Bank of Ireland, many… Read More

Bank of Ireland Credit and Debit Card Data Indicates Spending Levels Rose Nationwide Compared to 2022

Bank of Ireland credit and debit card data for the first two weeks of December revealed that spending levels rose nationwide compared to the same period in 2022. Cavan shoppers engaged in “the biggest pre-Christmas splurge, with spending in the county rising by 11% during… Read More

Majority of US Credit Cardholders Living Paycheck to Paycheck – LendingClub Report

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s digital marketplace bank, released key findings from the 29th edition of the Reality Check: Paycheck-To-Paycheck research series. The Credit Card Use Deep Dive Edition examines “the financial lifestyles of U.S. consumers and explores how… Read More

Fintech Platform Jaja Finance Enters Near-Prime Credit Card Space

Jaja Finance has opened up to applications from new customers to bring more competition and choice to the near-prime lending market, “giving UK borrowers the chance to reclaim their purchasing power with the new Jaja Vanta Purchase Credit Card.” Jaja is offering a four-months zero… Read More

Financial Wellness Benefits from DailyPay Are Reportedly Helping Workers Avoid High Fees Associated with Payday Loans

Retail workers are able to avoid “financially crippling” fees associated with payday loans and late penalties, while amassing less credit card debt when they have access to the financial wellness benefit of DailyPay, according to an update shared by the Fintech firm. The research follows… Read More

Fintech Deserve, a Credit Card Issuing Platform, Launches Digital Processing Capabilities

Deserve, a mobile-first credit card issuing platform, announced today the launch of new digital processing capabilities on the Deserve platform that can provide direct connectivity for mobile apps or software development kits to the Mastercard network. Financial Institutions of all sizes, “including credit unions and… Read More

Financial Super App Curve Launches Update to Offer Protection on Debit Cards

Financial super app Curve, which consolidates all your debit and credit cards into one card and app, has just launched its first ever credit card in the UK. The new Curve credit card “has all the bells and whistles of Curve, supercharged with greater security… Read More

NerdWallet, a Financial Platform for SMBs, Launches Credit Card

NerdWallet, Inc. (Nasdaq: NRDS), a platform that provides financial guidance to consumers and small and mid-sized businesses (SMBs), announced the launch of its first financial product for consumers—NerdUp by NerdWallet—a secured credit card designed to help users build and improve their credit responsibly. NerdWallet identified… Read More

CFPB Reports Record High Fees and Interest Charged by Credit Card Companies in 2022

The Consumer Financial Protection Bureau (CFPB) has published its 6th report on the consumer credit card market, stating that consumers paid record-high fees and interest in 2022. Interest rates have been marching higher in the past months as the US Federal Reserve attempts to crush… Read More

Fintech Highnote Expands Payment Platform to Support Consumer Credit Programs

Highnote announces the expansion of their debit, prepaid, and fleet issuing card platform to power consumer credit card products. Designed and developed by Highnote’s payments veterans, the expanded platform offers a comprehensive range of credit capabilities – “from technology that facilitates underwriting, repayment and loan… Read More

Indian Fintech Fibe and Axis Bank to Launch Numberless Credit Card

Axis Bank, one of the largest private sector banks in India and Fibe, (formerly known as EarlySalary), India’s Fintech, partnered in order “to launch India’s first-ever numberless credit card for tech-savvy Gen Zs.” With a numberless credit card, customers get “an added level of security… Read More

Paymentology, Tuily Support Apple Pay for SMB Credit Cards in Colombia

Paymentology, the global issuer-processor, announces its partnership with Tuily, the Colombian fintech that improves expense management for small and medium-sized enterprises (SMBs) which has now enabled Apple Pay for its business customers. Launched in 2023, Tuily stands as a Colombian Fintech company “with a commitment… Read More

Mastercard Responds to Congressional Letter on Credit Card Competition Act

Mastercard (NYSE: MA) wrote to several members of the U.S. Congress to highlight the harms the Credit Card Competition Act would “bring to consumers, businesses of all sizes and financial institutions. Today’s payments ecosystem enables consumers “to make purchases safely and securely while gaining access… Read More

Financial Super App Curve Secures Additional £58M, Bringing Series C Funding to £133M+

Curve, the financial super app that connects all your existing credit and debit cards to one single card and app, announced that it has raised an additional £58 million extension of its Series C round, bringing its Series C funding total to over £133 million…. Read More

Credit Cards in Circulation in Hong Kong Reach 19.71 Million

The Hong Kong Monetary Authority (HKMA), the city’s central bank, has released its Q2/2023 payment card statistics, revealing that the total number of credit cards in circulation in Hong Kong reached 19.71 million by the end of the second quarter. This indicates a marginal growth… Read More

Fintech Torpago, Revio to Enable Community, Regional Banks to Grow Revenue, Increase Client Retention

Torpago, a modern business credit card and spend management platform provider, today announced a partnership with Revio, a customer-insights platform that transforms bank data into actionable insights. The partnership will deliver “a revenue-generating corporate credit card program to community and regional banks, targeted at the… Read More

Record Number of New Credit Card Accounts Opened in Q1 2023, as Banks Continue to Increase Spending Limits – Report

Although the US Federal Reserve has been increasing interest rates, lenders have also been increasing consumers’ access to credit. Along with opening up a “record” $89 billion in new credit card accounts during the year’s first quarter, banking institutions also boosted spending limits on 18.4… Read More

Mastercard Says It’s Not Raising Interchange Rates or Network Fees in the US, Despite Reports Claiming Hikes in Fees

Recently, several reports covered an update from the WSJ regarding “credit card fees.” Unfortunately, the story is wrong, Mastercard (NYSE: MA) claims. According to Mastercard, the reporting relies upon a report “produced by an advisory firm advocating for legislation currently under consideration in Congress.” Mastercard… Read More

Nexo Supports Digital Asset Transactions via Dual Mode Capability, Featuring Debit, Credit Transfers

Nexo, the institution for digital assets, is redefining daily crypto transactions by unveiling the world’s first Dual Mode capability featuring both debit and credit. This strategic enhancement will further enrich the capabilities and user experience of the pioneering Nexo Card, released in 2022 in partnership… Read More

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