US Consumer borrowings rise 3.6% in July; declines in credit card spending persist

10-09-2020
US Federal Reserve said in a statement on Tuesday that the US consumer borrowings had picked up 3.6% in July following a 3.3 per cent rise in June

San Francisco’s Visa Inc. profits shrink as consumers lower spending amid pandemic

30-07-2020
On Tuesday, Visa Inc. had reported a 23 per cent plunge at its second-quarterly profit, highlighting pressing aspects of a likely global-scale recession

New York's American Express JV receives final nod to launch operation in China

13-06-2020
China's Central Bank said in a statement that it had approved an AMEX-LianLian Digitech joint venture, which in effect would enable the American credit card provider to launch operations in China

French hotel chain Accor teams up with Visa under loyalty program

19-02-2020
On Tuesday, the 18th of February 2020, Accor SA had issues a statement saying that the Europe’s largest hotel chain had partnered up with the San Francisco, CA-based American credit and pre-paid card issuer, Visa Inc.

Visa Inc. revenue beats estimate, forecasts muted growth in 2020; shares sour 3%

01-02-2020
On Thursday, the Foster City, CA-based American multinational financial services corporation and credit, debit alongside prepaid card issuer, Visa Inc., had unveiled its earnings’ report for its first quarter that ended on December 31st

Mastercard beats profit estimates on strong holiday season spending

31-01-2020
On Wednesday, the 29th of January 2020, the NY-based American multinational financial services corporation primarily engaged in credit card issuance, had unveiled its quarterly earnings’ report for the fourth quarter of 2020

AmEx profit beats estimate on strong US holiday season spending

27-01-2020
NY-based credit card issuer and financial services company, American Express Co. had reported its fourth-quarter profit on Friday, the 24th of January 2020, which had insanely beaten an analysts’ estimate

Visa Inc. to purchase fintech startup Plaid at an all-cash $5.3 billion buyout deal

15-01-2020
Late on Monday, Visa Inc. had issued a public statement saying that the leading US financial entity was going to purchase a privately-held fintech software startup Plaid Inc. at a $5.3 billion buyout deal

Lyft and JPMorgan team up to offer credit card ride-hailing rewards

10-01-2020
Lyft Inc. said on Wednesday, the 8th of January 2020, that it had partnered up with the leading US lender JPMorgan Chase & Co. as a part of its broad-based move to proffer extended rewards to JPMorgan Chase clients

Visa, Mastercard draw FTC probe over debit card transactions

14-11-2019
US FTC (Federal Trade Commission), had set out an initial investigation on credit card issuing Mammoths such as Visa Inc. alongside Mastercard Inc. on possible suspension of merchant transactions using other debit card networks

Citigroup to standby hawkish card strategy despite economic glooms

15-09-2019
While some analysts of Wall St. had started to question Citigroup's plan to weather its big bet on credit cards if the economy entered into a recession, the lender said it would underwrite the responsibilities

Citigroup doubles down on credit cards despite a slowing US economy

08-09-2019
Despite a withering backdrop in the US economy, which may have been at the brink of a recession, NY-based US multinational lender and financial service provider had been betting big on credit cards.

American Express warns of higher operating cost, shares slide

21-07-2019
American Express Co., the multinational financial service corporation founded back in 1850 at New York city, had cautioned investors about its spurring expenses on a post-earnings’ call on Friday, the 19th of July 2019

Democratic Sanders,Ocasio-Cortez propose limit on credit card interest rate

11-05-2019
A leading pair of liberal democrats, Sanders and Ocasio-Cortez had proposed a legislation to cap credit card interest rates alongside other consumer loans at 15 percent to help consumers grapple with an increasing credit card debt

Strong spending boosts Mastercard profit, shares hit all-time high

02-05-2019
Mastercard Inc. had posted quarterly earnings that beat analysts’ estimate by a wide margin, as a stronger US consumer spending, low wage growth and an upsurge in online shopping had boosted the transaction volumes

Visa quarterly profit jumps 14 percent on high consumer spending

26-04-2019
On Wednesday, the 24th of April 2019, the American multinational financial service provider and one of the long-cherished credit card providers, Visa Inc, headquartered in Foster City, had posted a 14.3 percent lift in its quarterly profit

American Express beats estimate, as rewards program boosts spending

21-04-2019
On Thursday, the 18th of April 2019, the US-based multinational credit card issuer, American Express Co. had posted a quarterly profit that had beaten analysts’ forecast by a wide margin

Mastercard to invest $300 million in Network International IPO

27-03-2019
Global payments giant, Mastercard Inc., had told that the US-based multinational financial service would be investing around $300 million as one of the cornerstone investors of Dubai-based payment processor, Network International

Another Kroger Unit stops accepting Visa credit cards over higher fees

03-03-2019
On Friday, the 1st of March, 2019, the US supermarket Chain, Kroger Co. had issued a statement, saying that their Smith’s Food and Drug Stores division would not be accepting payments from Visa Inc. credit cards

Visa & Mastercard to increase fees for processing transactions

17-02-2019
The two biggest United States’ card networks, Visa Inc. and the Mastercard Inc. had been preparing to increase certain fees on US merchant accounts for processing the transactions

Visa’s European wing pays $15 million to settle Italy tax dispute

29-01-2019
The US credit card group Visa’s European arm had paid around $15 million (13.2 million euros), in order to settle a legal dispute in Italy over an accusation of tax escaping, a legal document filed by the Italian prosecutors revealed on Friday

RBI issues 31st December deadline for replacement of magstripe-based cards

26-12-2018
After 31st December 2018, the existing magnetic strip-based cards will be invalid following the Reserve Bank of India directive