THE CURRENT ISSUE: Issue 1046 | Aug 2014
Top U.S. Commercial Card Issuers
Asia-Pacific’s Largest Acquirers
U.S. General Purpose Cards - Midyear 2014
Blackhawk/Barclays Mobile Prepaid
IBM’s Financial Transaction Manager
Deloitte Corporate Finance
Synchrony Financial’s IPO
Charge Payment Processing Progress
Comerica/Vantiv Merchant Processing
Merchant Lawsuits Update
Top Issuers of Commercial Cards in the U.S. Ranked by Purchase Volume
Top Asia-Pacific Acquirers 2013
Merchant Acquirers in Asia-Pacific 2013
U.S. Visa & MasterCard Commercial Card Issuers 2013
Top U.S. Small Business Credit Cards
Top U.S. Fleet Cards
Top U.S. Purchasing Cards
Top Small Business Debit Cards
Top Prepaid Commercial Cards
Top Corporate Cards
U.S. General Purpose Cards Midyear 2014 vs. Midyear 2013
Top Asia-Pacific Acquirers 2013
The 10 largest acquirers for merchant card transactions are ranked based on purchase volume for all global brand and domestic brand payments.
1. China UMS - China
$776.93 bil. Purchase Vol.
2. JCB - Japan
$135.25 bil. Purchase Vol.
3. BC Card - South Korea
$120.43 bil. Purchase Vol.
4. Commonwealth Bank - Australia
$100.67 bil. Purchase Vol.
5. ANZ Merchant Services - Australia
$74.46 bil. Purchase Vol.
Full access to the Top Asia-Pacific Acquirers 2013 results is available when you subscribe to The Nilson Report.
POSTED AUG 15, 2014 | PRINT
SYNCHRONY FINANCIAL'S IPO
General Electric’s (GE) plan to substantially reduce its financial services businesses worldwide includes selling consumer finance and credit card businesses in more than a dozen countries. In the U.S. it has spun off GE Capital Retail Finance into a separate publicly traded holding company called Synchrony Financial, whose assets include GE’s North American private label (retail, commercial, consumer, and health care) and general purpose (Visa, MasterCard, American Express, and Discover) credit card businesses. Combined profits were $1.98 billion in 2013, down 6.6%.
Synchrony (SYF) raised $2.88 billion in an initial public offering of common stock from the sale of 125 million shares on the New York Stock Exchange on July 30. GE plans to offer the remaining 84.9% of Synchrony it still owns to its shareholders in a tax-free transaction next year.
Synchrony had $54.29 billion worth of credit card outstandings as of March 31, 2014, and active accounts averaged 57.3 million for the quarter. Outstandings are tied to private label cards in the U.S. and Canada as well as to general purpose cards in the U.S. Active accounts have FICO scores that average 710.
Synchrony has been the largest issuer of private label credit cards in the U.S. for a decade. Clients include Walmart, Lowe’s, Amazon, Chevron, and JCPenney. Retail cards alone accounted for 69% of total card revenue in the first quarter of 2014. Synchrony ranks 10th in the U.S. among issuers of Visa and MasterCard credit cards. Purchase volume was $93.90 billion in 2013 from all private label and general purpose credit cards.
Assets of Synchrony include federally chartered Utah-based savings association Synchrony Bank (formerly GE Capital Retail Bank), which issues all private label and general purpose credit cards in the U.S. The bank also held $27.36 billion in deposits as of March 31, 2014.
Copyright © 2014 The Nilson Report