Introduction
The Payment Card Competitor Tracker provides expert analysis and opinion on the strategic moves of leading competitors in the payment cards market. Produced on a quarterly basis, the Tracker is a global product and consistently covers players such as American Express, Barclaycard, Capital One, Citigroup, GE Consumer Finance, HSBC, JCB, MasterCard, Morgan Stanley, Standard Chartered and Visa.
Reasons to Purchase
- Provides invaluable information on your key competitors in one place
- Keeps you fully informed through quarterly updates straight to your desktop
- Gives you the Cards & Payments Team' s view on your competitors' strategies
Table of Contents
- Overview
- Catalyst
- Summary
- Methodology
- Table of Contents
- Overview 1
- Catalyst 1
- Summary 1
- Methodology 1
- Introduction 10
- Who is the target reader? 10
- Changes to the format of the Competitor Tracker in 2007 10
- The Payment Card Competitor Tracker is now organised by theme 10
- An extended, topic driven commentary replaces the Cards & Payments Team view 10
- How to use the Payment Card Competitor Tracker 10
- Product, Services, and Innovation 13
- Roundup of the key developments in Q4 2006 13
- Card product developments 13
- Processor product and service developments 14
- New technologies and product innovation 15
- American Express 17
- China: ICBC launches an American Express corporate card 17
- Saudi Arabia: American Express launches Blue 17
- Thailand: American Express and Citibank fight over Thai middle class 17
- US: American Express and JetBlue Airways launch co-brand small business card 17
- US: American Express to offer cashback on small business cards 18
- US: American Express launches super-premium reward suite 18
- ANZ Bank 18
- Australia: ANZ and Westpac launch prepaid gift cards 18
- Australia: ANZ launches a card personalisation program 19
- Atos Origin 19
- Germany: Atos Origin offers card instalment credit processing 19
- Bank of America 20
- US: Bank of America launches co-brand credit card with Caremark 20
- US: Bank of America to launch co-brand with Aetna 20
- US: Bank of America launches affinity banking 21
- US: Bank of America to issue Dallas Cowboys branded cheques 21
- UK: MBNA sells UK savings account business to Yorkshire Building Society 21
- Barclaycard 21
- UK: Barclaycard to offer Oyster and Visa contactless functionality on its cards 21
- UK: Barclaycard has one million subscribers to online security system 22
- Citigroup 22
- Czech Republic: Citibank and Shell launch a new co-brand credit card 22
- Egypt: Citibank offers interest free promotion in partnership with Beymen Cairo 22
- Germany: Citibank offers free cash withdrawals to credit cardholders 23
- Greece: Citibank launches a co-brand with Tellas 23
- Hungary: Citibank and Shell launch a new co-brand credit card 23
- India: Citibank and South Indian Bank launch co-brand 24
- Mexico: Banamex and MasterCard launch PayPass 24
- Mexico: Banamex launches a co-brand with Costco 24
- Philippines: Citibank publishes educational material for first-time credit cardholders 24
- Singapore: Citibank launches biometric payments for platinum cardholders 25
- US: Citigroup, MasterCard, and Nokia trial PayPass in a mobile phone handset 25
- US: Citibank upgrades the Home Depot Rewards MasterCard to its ThankYou network 26
- First Data 26
- Canada: First Data supports launch of Cineplex gift card 26
- Canada: First Data to offer INTERAC services in 2007 26
- Germany: First Data migrates 1.1 million cards to its processing platform 26
- GE Consumer Finance 27
- China: GE and Wal-Mart issue cards in partnership with Shenzhen Development Bank 27
- US: GE Consumer Finance and Stein Mart announce co-brand 27
- Grupo Santander 28
- Spain: Santander launches premium debit product for foreign customers 28
- JCB 28
- Netherlands: JCB expands NFC trial 28
- JP Morgan Chase 29
- Canada: Chase launches co-brand with Marriott 29
- US: Chase launches co-brand with Soccer United Marketing 29
- US: Chase launches co-brand with Miami HEAT 29
- US: Chase launches co-brand with Nashville Predators 29
- KBC 30
- Belgium: KBC announces repricing of its banking and card products 30
- MasterCard 30
- Europe: MasterCard announces Maestro fallback interchange rate for SEPA 30
- Europe: MasterCard announces further PayPass trials 31
- Germany: Sparda-Banks to convert debit portfolio to Maestro 31
- Taiwan: MasterCard expands PayPass acceptance 32
- US: MasterCard announces an expansion in PayPass acceptance 32
- US: MasterCard trials PayPass in toll road environment 32
- US: MasterCard announces first PayPass acceptance in taxis 32
- US: MasterCard announces the launch of its prepaid card reloading service 33
- Morgan Stanley 33
- US: Discover launches online shopping portal for cardholders 33
- National Australia Bank 33
- Australia: National Australia Bank announces plans to issue on China UnionPay 33
- TSYS 33
- Europe: TSYS certified to process MasterCard prepaid cards 33
- Visa 34
- Austria: Visa announces the first V PAY transaction 34
- Germany: Volksbanken und Raiffeisenbanken to co-brand with V PAY 34
- Germany: Visa announces B+S as a V PAY acquirer 34
- Switzerland: Visa announces new V PAY acquirer 34
- US: Visa launches its first prepaid card with contactless functionality 35
- US: Visa announces an expansion in prepaid infrastructure 35
- Westpac 35
- New Zealand: Westpac launches Visa branded debit card 35
- Other competitors 36
- UK: Lloyds TSB launches debit card savings product 36
- Roundup of the key developments in Q4 2006 13
- M&A, Partnerships and Organic Growth 37
- Roundup of the key developments in Q4 2006 37
- Merger and acquisition activity 37
- New partnerships and contract renewals 38
- Organic growth and expansion 40
- AEON Credit Service 41
- Aeon announces plans to allow China UnionPay cardholders to use its Japnese network 41
- American Express 41
- Global: American Express to outsource prepaid card processing to eFunds 41
- ANZ Bank 42
- Australia: ANZ to buy the Quantas Frequent Flyer program 42
- Atos Origin 43
- Belgium: Atos Origin completes acquisition of Banksys and BCC 43
- Bank of America 43
- US: Bank of America extends more than 70 affinity relationships 43
- Barclaycard 43
- Norway: EnterCard and SpareBank 1 extend partnership agreement 43
- Uganda: Barclays acquires Nile Bank 43
- Capital One 44
- US: Capital One completes the acquisition of North Fork Bancorporation 44
- Citigroup 44
- Australia: Citibank buys Bank of Queensland' s credit card portfolio 44
- Central America: Citigroup announces the acquisition of Grupo Financiero Uno 44
- Central America: Citigroup announces the acquisition of Grupo Cuscatlan 45
- China: Citibank to expand its ATM infrastructure 46
- Turkey: Citigroup acquires a 20 per cent equity interest in Akbank 46
- Venezuela: Citibank expands network of cash accepting ATMs 47
- Erste Bank 47
- Romania: Erste Bank completes acquisition of Banca Comerciala Romana 47
- Ukraine: Erste Bank acquires Bank Prestige 47
- First Data 48
- Asia: First Data strikes deal with Standard Chartered across Asia 48
- Argentina: First Data completes acquisition of Argencard 48
- Europe, Africa: First Data wins contract to support Société Générale' s international expansion program 49
- Germany: First Data extends acquiring processing contract with Concardis 49
- Germany: First Data sells easycash 49
- Guatemala: First Data signs payment processing agreement with Tarjetas Cuscatlan de Guatemala 49
- Romania: First Data launches processing services for Cetelem 50
- Trinidad & Tobago: First Data signs processing agreement with First Citizens Bank 50
- UK: First Data renews Lloyds TSB processing contract 50
- US: First Data renews agreement with First Federal 50
- US: First Data renews agreement with Wells Fargo 51
- US: First Data renews processing agreement with Advanta Bank 51
- US: First Data renews STAR Network relationship with Oswego Community Bank 51
- GE Consumer Finance 51
- India: GE and SBI joint venture hits the 3 million card mark 51
- Latvia: GE Money takes a majority stake in Baltic Trust Bank 52
- HSBC 52
- Central America: HSBC completes acquisition of Grupo Banistmo 52
- India: HSBC (India) reaches the two million credit card mark 52
- JCB 52
- Austria: JCB signs an agreement with Europay Austria to expand its acceptance 52
- China: JCB forms a further issuing partnership 53
- JP Morgan Chase 53
- US: Chase Bank to place ATMs in Walgreens stores in a further two states 53
- US: Chase finalises the acquisition of Bank of New York portfolios 53
- KBC 54
- Czech Republic: KBC moves closer to full ownership of ČSOB 54
- Morgan Stanley 54
- Global: Morgan Stanley to spin off Discover 54
- Global: Discover and China Unionpay complete reciprocal acceptance agreement 54
- Global: Morgan Stanley and Visa settle antitrust dispute 55
- Nordea 55
- Russia: Nordea acquires a majority stake in Orgresbank 55
- Russia: Nordea divests shareholding in International Moscow Bank 55
- Royal Bank of Scotland 56
- UK: RBS joins with subpostmasters to install free-to-use ATMs 56
- Standard Chartered 56
- China: Standard Chartered announces plans to enter China 56
- Taiwan: Standard Chartered acquires Hsinchu 57
- TSYS 57
- Netherlands: TSYS to process for Rabobank 57
- US: TSYS Prepaid reaches 11 million healthcare accounts 57
- Visa 58
- Asia-Pacific: EMV chip cards reached 52 million in June 58
- Croatia: Visa sees strong demand for credit cards 58
- Russia: Visa announces growth in card issuance 58
- Serbia and Montenegro: Visa announces growth in card issuance 58
- Spain: Visa commercial card use rises 59
- US: Visa reports strong growth in sales volume 59
- Other competitors 59
- Ireland: Fortis and An Post form joint banking venture 59
- Italy: SIA and SSB announce merger plan 59
- Singapore: DBS annouces it has issued one million cards 60
- South Korea: Shinhan acquires a majority stake in LG Card 60
- UK: Prudential rejects bid for Egg 60
- Roundup of the key developments in Q4 2006 37
- Staffing, Strategy, and Financial Results 62
- Barclaycard 62
- Group: Barclays announces board changes 62
- BBVA 62
- Group: BBVA announces new management structure 62
- Citigroup 63
- Global: Citigroup name new chief operating officer 63
- Grupo Santander 63
- Group: Santander makes appointments to its International Advisory Board 63
- Nordea 63
- Group: Nordea announces board changes 63
- Standard Chartered 63
- Group: Standard Chartered announces board changes 63
- Visa 63
- Europe: Visa appoints new head of European marketing 63
- Global: Visa announces global restructuring 64
- Other competitors 64
- China: China Merchants Bank to focus on its credit card portfolio 64
- Barclaycard 62
- APPENDIX 65
- Methodology 65
- Further reading 65
- Ask the analyst 65
- Datamonitor consulting 65
- Disclaimer 65
- Introduction
- Who is the target reader?
- Changes to the format of the Competitor Tracker in 2007
- The Payment Card Competitor Tracker is now organised by theme
- An extended, topic driven commentary replaces the Cards & Payments Team view
- How to use the Payment Card Competitor Tracker
- Product, Services, and Innovation
- Roundup of the key developments in Q4 2006
- Card product developments
- The majority of developments this quarter have been in co-branding
- The move to SEPA has driven further changes and developments
- Other interesting developments revolve around creating a point of difference in niche market segments
- Processor product and service developments
- The launch of products into new markets dominated developments in this quarter
- New technologies and product innovation
- The majority of product developments are in the area of contactless payments
- Contactless payments continue to develop in the US while the momentum gathers elsewhere
- Card product developments
- American Express
- China: ICBC launches an American Express corporate card
- Saudi Arabia: American Express launches Blue
- Thailand: American Express and Citibank fight over Thai middle class
- US: American Express and JetBlue Airways launch co-brand small business card
- US: American Express to offer cashback on small business cards
- US: American Express launches super-premium reward suite
- ANZ Bank
- Australia: ANZ and Westpac launch prepaid gift cards
- Australia: ANZ launches a card personalisation program
- Atos Origin
- Germany: Atos Origin offers card instalment credit processing
- Bank of America
- US: Bank of America launches co-brand credit card with Caremark
- US: Bank of America to launch co-brand with Aetna
- US: Bank of America launches affinity banking
- US: Bank of America to issue Dallas Cowboys branded cheques
- UK: MBNA sells UK savings account business to Yorkshire Building Society
- Barclaycard
- UK: Barclaycard to offer Oyster and Visa contactless functionality on its cards
- UK: Barclaycard has one million subscribers to online security system
- Citigroup
- Czech Republic: Citibank and Shell launch a new co-brand credit card
- Egypt: Citibank offers interest free promotion in partnership with Beymen Cairo
- Germany: Citibank offers free cash withdrawals to credit cardholders
- Greece: Citibank launches a co-brand with Tellas
- Hungary: Citibank and Shell launch a new co-brand credit card
- India: Citibank and South Indian Bank launch co-brand
- Mexico: Banamex and MasterCard launch PayPass
- Mexico: Banamex launches a co-brand with Costco
- Philippines: Citibank publishes educational material for first-time credit cardholders
- Singapore: Citibank launches biometric payments for platinum cardholders
- US: Citigroup, MasterCard, and Nokia trial PayPass in a mobile phone handset
- US: Citibank upgrades the Home Depot Rewards MasterCard to its ThankYou network
- First Data
- Canada: First Data supports launch of Cineplex gift card
- Canada: First Data to offer INTERAC services in 2007
- Germany: First Data migrates 1.1 million cards to its processing platform
- GE Consumer Finance
- China: GE and Wal-Mart issue cards in partnership with Shenzhen Development Bank
- US: GE Consumer Finance and Stein Mart announce co-brand
- Grupo Santander
- Spain: Santander launches premium debit product for foreign customers
- JCB
- Netherlands: JCB expands NFC trial
- JP Morgan Chase
- Canada: Chase launches co-brand with Marriott
- US: Chase launches co-brand with Soccer United Marketing
- US: Chase launches co-brand with Miami HEAT
- US: Chase launches co-brand with Nashville Predators
- KBC
- Belgium: KBC announces repricing of its banking and card products
- MasterCard
- Europe: MasterCard announces Maestro fallback interchange rate for SEPA
- Europe: MasterCard announces further PayPass trials
- Germany: Sparda-Banks to convert debit portfolio to Maestro
- Taiwan: MasterCard expands PayPass acceptance
- US: MasterCard announces an expansion in PayPass acceptance
- US: MasterCard trials PayPass in toll road environment
- US: MasterCard announces first PayPass acceptance in taxis
- US: MasterCard announces the launch of its prepaid card reloading service
- Morgan Stanley
- US: Discover launches online shopping portal for cardholders
- National Australia Bank
- Australia: National Australia Bank announces plans to issue on China UnionPay
- TSYS
- Europe: TSYS certified to process MasterCard prepaid cards
- Visa
- Austria: Visa announces the first V PAY transaction
- Germany: Volksbanken und Raiffeisenbanken to co-brand with V PAY
- Germany: Visa announces B+S as a V PAY acquirer
- Switzerland: Visa announces new V PAY acquirer
- US: Visa launches its first prepaid card with contactless functionality
- US: Visa announces an expansion in prepaid infrastructure
- Westpac
- New Zealand: Westpac launches Visa branded debit card
- Other competitors
- UK: Lloyds TSB launches debit card savings product
- Roundup of the key developments in Q4 2006
- M&A, Partnerships and Organic Growth
- Roundup of the key developments in Q4 2006
- Merger and acquisition activity
- The majority of M&A activity was concentrated on developing markets
- Other important developments saw Discover spun off and further consolidation in the European processing market
- New partnerships and contract renewals
- Several of the new partnerships formed this quarter signal major strategic moves
- The renewal of existing agreements has also been important
- Organic growth and expansion
- Several players have announced strong growth in issuance and usage
- Growth in infrastructure has been an important theme this quarter
- Merger and acquisition activity
- AEON Credit Service
- Aeon announces plans to allow China UnionPay cardholders to use its Japnese network
- American Express
- Global: American Express to outsource prepaid card processing to eFunds
- ANZ Bank
- Australia: ANZ to buy the Quantas Frequent Flyer program
- Atos Origin
- Belgium: Atos Origin completes acquisition of Banksys and BCC
- Bank of America
- US: Bank of America extends more than 70 affinity relationships
- Barclaycard
- Norway: EnterCard and SpareBank 1 extend partnership agreement
- Uganda: Barclays acquires Nile Bank
- Capital One
- US: Capital One completes the acquisition of North Fork Bancorporation
- Citigroup
- Australia: Citibank buys Bank of Queensland' s credit card portfolio
- Central America: Citigroup announces the acquisition of Grupo Financiero Uno
- Central America: Citigroup announces the acquisition of Grupo Cuscatlan
- China: Citibank to expand its ATM infrastructure
- Turkey: Citigroup acquires a 20 per cent equity interest in Akbank
- Venezuela: Citibank expands network of cash accepting ATMs
- Erste Bank
- Romania: Erste Bank completes acquisition of Banca Comerciala Romana
- Ukraine: Erste Bank acquires Bank Prestige
- First Data
- Asia: First Data strikes deal with Standard Chartered across Asia
- Argentina: First Data completes acquisition of Argencard
- Europe, Africa: First Data wins contract to support Société Générale' s international expansion program
- Germany: First Data extends acquiring processing contract with Concardis
- Germany: First Data sells easycash
- Guatemala: First Data signs payment processing agreement with Tarjetas Cuscatlan de Guatemala
- Romania: First Data launches processing services for Cetelem
- Trinidad & Tobago: First Data signs processing agreement with First Citizens Bank
- UK: First Data renews Lloyds TSB processing contract
- US: First Data renews agreement with First Federal
- US: First Data renews agreement with Wells Fargo
- US: First Data renews processing agreement with Advanta Bank
- US: First Data renews STAR Network relationship with Oswego Community Bank
- GE Consumer Finance
- India: GE and SBI joint venture hits the 3 million card mark
- Latvia: GE Money takes a majority stake in Baltic Trust Bank
- HSBC
- Central America: HSBC completes acquisition of Grupo Banistmo
- India: HSBC (India) reaches the two million credit card mark
- JCB
- Austria: JCB signs an agreement with Europay Austria to expand its acceptance
- China: JCB forms a further issuing partnership
- JP Morgan Chase
- US: Chase Bank to place ATMs in Walgreens stores in a further two states
- US: Chase finalises the acquisition of Bank of New York portfolios
- KBC
- Czech Republic: KBC moves closer to full ownership of ČSOB
- Morgan Stanley
- Global: Morgan Stanley to spin off Discover
- Global: Discover and China Unionpay complete reciprocal acceptance agreement
- Global: Morgan Stanley and Visa settle antitrust dispute
- Nordea
- Russia: Nordea acquires a majority stake in Orgresbank
- Russia: Nordea divests shareholding in International Moscow Bank
- Royal Bank of Scotland
- UK: RBS joins with subpostmasters to install free-to-use ATMs
- Standard Chartered
- China: Standard Chartered announces plans to enter China
- Taiwan: Standard Chartered acquires Hsinchu
- TSYS
- Netherlands: TSYS to process for Rabobank
- US: TSYS Prepaid reaches 11 million healthcare accounts
- Visa
- Asia-Pacific: EMV chip cards reached 52 million in June
- Croatia: Visa sees strong demand for credit cards
- Russia: Visa announces growth in card issuance
- Serbia and Montenegro: Visa announces growth in card issuance
- Spain: Visa commercial card use rises
- US: Visa reports strong growth in sales volume
- Other competitors
- Ireland: Fortis and An Post form joint banking venture
- Italy: SIA and SSB announce merger plan
- Singapore: DBS annouces it has issued one million cards
- South Korea: Shinhan acquires a majority stake in LG Card
- UK: Prudential rejects bid for Egg
- Roundup of the key developments in Q4 2006
- Staffing, Strategy, and Financial Results
- Barclaycard
- Group: Barclays announces board changes
- BBVA
- Group: BBVA announces new management structure
- Citigroup
- Global: Citigroup name new chief operating officer
- Grupo Santander
- Group: Santander makes appointments to its International Advisory Board
- Nordea
- Group: Nordea announces board changes
- Standard Chartered
- Group: Standard Chartered announces board changes
- Visa
- Europe: Visa appoints new head of European marketing
- Global: Visa announces global restructuring
- Other competitors
- China: China Merchants Bank to focus on its credit card portfolio
- Barclaycard
- APPENDIX
- Methodology
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer
