Citi Regains Full Control Over AA Co-branded Cards
A new 10-year agreement between Citi, the third largest credit card issuer in the US, and American Airlines, the country’s largest carrier, will commence in 2026.
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Global Brand Cards Worldwide — Midyear 2024
Visa, UnionPay, Mastercard, American Express, JCB and Discover/Diners Club brand credit, debit and prepaid cards combined generated 363.93 billion purchase transactions for goods and services worldwide from January 1 through June 30, 2024. This was a 13.1% increase from the same period in 2023.
US Commercial Cards — Visa, Mastercard, American Express — 2023
Credit, debit and prepaid consumer and commercial cards carrying Visa, Mastercard, American Express and Discover brands issued in the US combined reached $10.169 trillion in purchase volume in 2023, up 6.4% over 2022.
Worldwide Card Acceptance Locations for Global Brands — Midyear 2024
Card-not-present and card-present locations grew by double digits over the last 12 months. Card-present growth was fueled by softPOS—the use of smartphones and tablet devices, mostly Android-based—that can accept card payments without the need for any PCI-compliant peripheral device.
Lakala is Top PSP for Card Payment Acceptance in China
Among all PSPs in China, Lakala ranks as the largest when measuring card transactions processed. Card brands accepted include UnionPay, Visa, Mastercard, American Express, JCB and Discover. Financial settlement with merchants for all card brands is made through UnionPay.
Authorized Push Payment Protection from BioCatch
Authorized push payment fraud and social engineering scams typically originate via an email, text message or social media post. Funds are then sent to a mule account. Successfully laundering money can involve up to 10 accounts.
Mastercard to Settle UK Litigation
The litigation concerned the financial impact of higher prices for goods and services paid by cardholders owing to interchange fees that merchants paid to Mastercard card issuers.
Top 150 Credit Card Issuers by Purchase Volume — 2023
Purchase volume generated by the 150 largest credit card issuers in the world reached $13.512 trillion in 2023. This group represented issuers from 52 countries. The 10 largest issuers accounted for 45.1% of purchase volume among the 150 largest. Those 10 issuers included 5 from the US that collectively accounted for $4.032 trillion and 5 […]
Amex Motions Denied in Potential Class Action Lawsuit
U.S. District Judge Mary S. McElroy has ruled against two motions made by American Express regarding a federal antitrust lawsuit brought on behalf of more than 5,000 merchants by 5-Star General Store, a convenience store in Pawtucket, Rhode Island.
Texas Court Denies Motions from CFPB Regarding Lawsuit over Penalty Fees
The final rule was due to go into effect on May 14, 2024, but two days after the CFPB’s ruling was issued, a group of trade associations filed litigation in the United States District Court of the Northern District of Texas, Fort Worth Division (Case No. 4:24-cv-00213-P).
