Foster City payment processor Visa being probed over abuse of debit-card dominance

21-03-2021
The US Justice Department had launched a probe on e-payment processing giant Visa Inc. over potential abuse of its debit-card market dominance

Missouri’s Mastercard to delay fee hikes until April next year

17-03-2021
Mastercard Inc., the New York-based payment processing giant, said on Tuesday that the company would delay a slated fee hike at least until April next year

US consumers step up savings, pay off more credit card debts in pandemic-times

09-02-2021
Later last week, data from US Fed had revealed that the US consumers had been stuffing more money into their bank accounts with quarterly deposits climbing to a record high

New York’s AmEx forecasts consumer travel recovery in summer, profit beats estimate

27-01-2021
On Tuesday, American Express Co., the century-old credit card provider had forecasted a sharp uptick in consumer travel spending as early as by this summer

New York’s Mastercard says US holiday retail sales surge 3% amid online shopping boom

27-12-2020
On Saturday, a Mastercard Inc. report published late in the day had revealed that US holiday retail sales surged by 3 per cent on an annualized basis

New York's Mastercard warns of ongoing pandemic-led slowdown as Q3 income falls 28%

03-11-2020
Later last week, the New York-headquarter credit card giant Mastercard Inc. had reported a 28 per cent plunge in its net income over the third quarter of the year

Californian credit card giant Visa Inc. profit tumbles 23% as payment volumes sour

30-10-2020
Late on Wednesday, American multinational credit card giant Visa Inc. had reported a 23 per cent decline in third-quarter profits

New York's AmEx profits plunge 39% as travel spending comes to a standstill

25-10-2020
On Friday, the New York-based credit card giant American Express had reported a stabbing 39 per cent plunge in quarterly profits over Q3, 2020

US credit card spending drops for 6th straight month, consumer borrowing fell $7.2bn

08-10-2020
Late on Wednesday, US Federal Reserve data had revealed that the US credit card spending had fallen for the sixth straight month in a row in August

New York lender Goldman set to purchase GM’s credit card wing for $2.5 billion

04-10-2020
A Wall Street Journal report published late on Thursday had revealed that the Wall Street lender Goldman Sachs had been set to purchase the Detroit carmaker GM's credit card wing at a $2.5 billion buyout deal

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