creditcards

Retail Asia08/07/2022

China unveiled tighter rules late on Thursday to better regulate its $1.3 trillion credit card industry, urging lenders to adopt a “prudent” growth strategy, and monitor risks more closely. Banks are also barred from using the number of cards issued or market share as main performance metrics, and are required to cap the number of […]

Retail Asia13/02/2020

Mastercard’s joint venture in China has been the green light given by the People’s Bank of China for it to begin formal preparations to set up a domestic bankcard clearing institution in China. Mastercard’s joint venture with NetsUnion Clearing will need to complete preparation work within a year, following its approval to begin operations in the […]

Retail Asia22/01/2020

Despite the dominance of cash, card payments volume in Hong Kong is expected to surpass one billion in 2020, says GlobalData. The convenience of electronic payments, robust payment infrastructure and the emergence of contactless payments are expected to drive the total number of card payments from 642.0 million in 2015 to 1 billion in 2020, […]

Retail Asia15/01/2020

Visa will be buying privately held financial technology startup Plaid in a $5.3 billion deal, according to a statement from the payments processor. Visa and rival Mastercard had invested in Plaid in a $250 million series C funding round in 2018 that reportedly valued the firm at $2.65 billion. Visa said it expects the deal […]

Retail Asia07/08/2019

In the twelve months to March 2019, almost half a million Australians got rid of their credit cards, with the total number of credit cards in the country falling to 14.6 million compared to the 15 million a year prior. This trend, highlighted in illion’s second Credit Card Nation report, suggests that Australia has surpassed […]

Retail Asia04/06/2019

Retail spending on electronic cards rose in April as Kiwis took advantage of the extended holiday period to eat out and take holidays away from home. Card spending in April rose 0.6 percent seasonally adjusted after a 0.2 percent decrease in March, according to data from Statistics NZ. The increase in credit and debit card […]

Tag: creditcards

China tightens rules on $1.3 trln credit card business

Mastercard to Enter China Payments Market

Card Payments To Exceed One Billion In Hong Kong

Visa Buys Out Personal Finance Enabler In Billion-Dollar Deal

Credit cards decline amid buy now pay later boom

Credit Card spending up in April