The real value for Apple is in the underlying consumer and spending data. Apple already has a tremendous amount of consumer data via its phones and will gain the ability to pair that with consumer spending, according to Ali Raza, managing principal at Blue Leviathan.

The foray into digital consumer lending follows a similar move by rival Citigroup.

The bank said in its annual report that anticipated store closings could reduce both new account acquisitions and purchase volume.

City sues seven banks for alleged price fixing on floating-rate bonds; analyst says “the most negative revelations are yet to come” in the 1MDB scandal.

The move, reported by The Wall Street Journal, could be part of a deeper foray into cobranded cards by Goldman, which has been expanding into consumer finance through its Marcus unit.

The agency has required restitution in just one of six settlements under its new director, raising questions about whether the pattern will continue.

The Michigan-based institution also awarded $315,000 in bonus reward points to members who use the CU's credit card.

While student, auto and credit card balances are at or near record levels, housing debt is shrinking, credit quality is weakening a bit and lending standards, at least in some sectors, are tightening.

Furniture retailers typically split payment for big-ticket items with a deposit and the balance due upon delivery, but the process is usually fraught with paperwork, security and efficiency gaps.

Martina Hund-Mejean will retire after more than a decade serving as chief financial officer at Mastercard.

While consumer spending on Valentine’s Day doesn’t approach that of the larger holidays, certain retailers — such as jewelers and florists — benefit more than others, while restaurants, bars and other dining establishments tend to see significantly more traffic for those couples who want an evening out. Increasingly, it’s also a special day for pets.

The moves are aimed at beefing up consumer lending and attracting deposits in markets where Citi has no branch presence.

Norway stepped in to limit the growth of high interest rate consumer loans and credit card debt to protect the economy from ballooning household leverage amid rising interest rates.

Though banks are generating more revenue from interchange and annual fees, those gains have been offset by declines in income from cash advances and late fees.

Paul Stoddart, CEO of Vocalink, has been named president of new payment platforms for Mastercard, starting March 1.

Technology startups using the Brex credit card for business expenses will soon migrate to the World Elite Mastercard for Business.

American Express and Bill.com have launched a system to handle the accounts payable process plus the ability to pay vendors through virtual account numbers.

On Sep. 30, 2018. Dollars in thousands.

Proposals that would have financial firms monitor or refuse to finance certain firearms purchases are misguided, putting the onus on unelected corporations.

The U.S. has long lagged in contactless payment adoption — despite aggressive efforts to bring the technology to market years ago — but there’s finally signs of a turnaround as more consumers and merchants get on board.