Banks trudging along slowly with digital advancements are getting a push from virtual card technology providers touting the concept of mass distribution for commercial card issuers.

JPMorgan Chase & Co. said it processed 15% more card payments during Black Friday weekend than it did a year earlier, a sign that the pandemic did little to curtail spending as the holiday shopping season began.

With R. Scott Blackley planning to leave for a role at a health-insurance startup, the credit card giant is promoting longtime executive Andrew Young.

Mastercard Inc. promoted Linda Kirkpatrick to president of North American operations as incoming Chief Executive Officer Michael Miebach shuffles some of his top managers before taking the reins next month.

EBay has hired Discover’s top U.S. cards executive, Julie Loger, for the newly created position of global chief growth officer.

Visa Inc. said growth in spending on its cards in the U.S. slowed last month as coronavirus cases surged across the country.

In a potentially good sign for credit unions, last week credit card spending reached its highest point since the start of the coronavirus pandemic, according to data from PSCU.

Within the payments industry, Wirecard as a brand has become almost like Enron — but an exec at Railsbank says the German processor's fall from grace masks talent and innovation that can thrive elsewhere and help forge new paths to financial services.

The pilot leverages Keyno’s CVVkey technology that uses a dynamic card verification value 2 (CVV2) code to provide a higher level of security against fraud for online and mobile payments.

The pilot leverages Keyno’s CVVkey technology that uses a dynamic card verification value 2 (CVV2) code to provide a higher level of security against fraud for online and mobile payments.

Mastercard says it has been notified the Department of Justice has approved its planned acquisition of data aggregator Finicity, putting the card brand on track to close the deal before the end of the year.

On Jun. 30, 2020. Dollars in thousands.

The pandemic has altered a variety of consumer behaviors, and that could make a difference in what sort of interchange and interest revenue financial institutions see in their credit and debit portfolios as they close out 2020.

Wells Fargo is exploring selling a unit offering store-branded credit cards as the bank chooses businesses to keep or break off in a broad strategic overhaul, according to people with knowledge of the matter.

The response exceeded expectations, with more than 1,600 Citi customers requesting a name-change on their cards within the first few weeks of the program.

Big financial institutions are worried that online wagers made with credit cards pose a heavy risk of money laundering. The possibility of tougher rules under the incoming Biden administration has only compounded their concerns.

Even given the huge jump in digital transactions from e-commerce, card brands are holding out for COVID-19 vaccines as a path out of the payment declines that have accompanied 2020’s health and economic crises.

Dean, who joined Capital One in 2014, succeeds Kleber Santos, who left the bank earlier this month to lead diversity initiatives at Wells Fargo.

On Jun. 30, 2020. Dollars in thousands.

The U.S. Justice Department sued to block Visa’s $5.3 billion deal for the data aggregator over concerns that it would harm competition in the global payments market.