Discovery Ltd. is on track to start a South African bank by the end of this year after agreeing to buy FirstRand Ltd.’s stake in a credit-card venture, a transaction which had delayed the lender’s launch.

Payments CUSO said it converted a ‘record number’ of credit, debit accounts in 4 months.

Small and midsize banks are most at risk as commercial loan volume fails to ignite; the cutbacks are partly the result of lower origination volume.

Upgrade, a marketplace lender founded by Laplanche just a few months after he was ousted from LendingClub, has secured more than $100 million in equity capital and says it is poised to offer more consumer credit products.

When engaging in an increasingly competitive credit card rewards and benefits market, issuers have to make sure their programs and pitches to consumers are as simple as possible. But that's hard to do when perks range from points and rewards to the very materials used to build the cards.

In Vietnam, where 80% to 90% of transactions are still conducted in cash, Kienlongbank is the latest to announce a credit card for Vietnamese consumers who shop and travel internationally.

On Mar. 31, 2018. Dollars in thousands.

The bank said it has received subpoenas related to low-income housing tax credits; write-offs of bad credit card debt creep up.

Domestic card growth has not lived up to the bank’s expectations, even after its Costco coup. So it is making changes here to get product development, payments technology and card portfolio management on the same page worldwide.

Happy Money and Arcus have joined a pack of fintechs and online lenders urging customers to forgo expensive credit card debt, in this case calling it a "sad spend."

Brim Financial is the only non-bank or credit union to have an issuer licence from Mastercard Canada. Unlike other countries, Canada doesn't require credit card issuers to have bank licenses or bank sponsors.

For Citigroup, a change in how it plans to operate in the U.S. is all about streamlining operations so its global network can be on the same page regarding product development, payments technology and card portfolio growth.

Two years after Citi launched more than 7 million contactless-enabled Costco credit cards in the U.S., Costco has finally enabled tap and pay at its U.S. stores.

The card issuer Synchrony will continue to manage three cards for the national hardware chain. The timing is good as Synchrony recently lost a deal issuing cards for Walmart.

Anand Selva, a longtime Asia hand, will head up U.S. consumer banking; several startups are backed by traditional card issuer veterans, such as former Citi CEO Vikram Pandit.

Citigroup Inc. is restructuring its consumer banking operation in a shake-up that includes the departure of its global credit card chief.

U.S. authorities are forced to take action on some shady dealings up north; the Systemic Risk Council says weaker capital rules could deflate bank equity.

Sensing an opportunity in the small-business credit card market, Stripe is setting out to outflank big banks by offering application programming interfaces to enable its clients to issue their own physical and virtual credit cards.

Hochschild, the current president and chief operating officer, has been with Discover for 20 years, and will retain his title as president upon assuming the CEO role on Oct. 1. Nelms (pictured) will continue as executive chairman until his retirement early in 2019.

While mass transit has long been seen as a potential catalyst for changing payment habits, it's apps such as Uber, Grab and Lyft that are making the biggest difference in how people pay for transportation.