Payment Card Competitor Tracker: May 2008

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 monthly basis, the Tracker is a global product and covers 64 players, including American Express, Barclaycard, Capital One, Citigroup, Discover, GE Money, First Data, HSBC, JCB, MasterCard, Standard Chartered and Visa.

Report Highlights

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Overview 1
Catalyst 1
Summary 1
Methodology 1
Table of Contents 2
Introduction 2
The Payment Card Competitor Tracker provides both one-month and 12-month views of developments 2
Each month, Datamonitor tracks the most relevant announcements from 64 competitors 2
Datamonitor's Cards and Payments Team provides analysis of the key developments at both the one month and 12 month level 3
A fully searchable database of the past 12 months of developments is also delivered alongside the report 3
Key trends and developments in May 4
The key development in May was the merger between Westpac and St. George 4
Westpac and St.George are set to merge into Australia's largest bank 4
JPMorgan's acquisition of Target's receivables indicates the difficulty of securitization in the current climate 5
On the product and innovation side, MasterCard and Payzone are paving the way for the further development of prepaid cards 5
May saw a slightly increased level of activity, but a falling level of M&A activity 6
There has been a considerable slowdown in the area of M&A 7
North America, Western Europe and Asia Pacific continue to account for the majority of competitor activity 8
Card issuers account for the majority of developments in May, with card schemes comparatively quiet 9
Loyalty and reward products were the most prevalent type of product innovation in May 10
Mobile and contactless product developments are also very much on the agenda 11
M&A and organic growth announcements fell heavily in May 12
Product, Services and Innovation 13
American Express 13
Sri Lanka: American Express offers utility bill discount to customers 13
US: American Express initiates an in-store promotion, offering a free Spring Fling card with gift card purchases 13
US: American Express launches the Going Once travel-based promotion 13
US: American Express announces its 2008 Membership Rewards program partner lineup 13
US: 2008 American Express announces an advance ticket sale for US Open Tennis 14
ANZ Bank 14
Australia: ANZ inaugurates its ""designmycard"" feature 14
Bank of America 14
UK: MBNA unveils its new Miles & More American Express credit card 14
US: Bank of America offers an American Express card that targets the American-Asian community 14
US: Bank of America Launches an Asiana Airlines credit card with American Express 14
Barclaycard 15
UK: Barclaycard and InterContinental Hotels are to offer credit card 15
Certegy (Fidelity National Information Services) 15
US: Fidelity National Information Services announces new mobile banking offering 15
Citigroup 15
Bahrain: Citibank announces collaboration with Ashraf's department store 15
India: Delhi Metro & Citibank launch a co-branded transit credit card 15
Indonesia: Citibank and Indosat introduce the Citi Mobile e-banking service 16
US: Citi adds new benefits to its Diamond Preferred suite of cards 16
US: Citi and Banamex USA allow Citibank customers to grant a shared-credit card to a friend or relative in Mexico 17
US: Citi launches its Extra Cash feature, offering cardholders new ways to get online discounts 17
Taiwan: Citibank & CMP inaugurate a new co-branded credit card 17
Thailand: Citibank introduces an air miles offer and other travel benefits for ROP Platinum Select credit card holders 17
Credit Agricole 18
France: Crédit Agricole tests peer-to-peer contactless fund transfers 18
Finaref 18
France: Finaref launches a new web service 18
First Data 18
Austria: First Data enters into direct merchant business with 'FirstPOS' 18
India: First Data and Kotak Mahindra Bank partner in a new card offering 19
GE Money 19
US: GE Money and Boyles Distinctive Furniture launch a new private label credit card 19
US: GE Money and Smith & Hawken launch a private-label credit card 19
Industrial and Commercial Bank of China 19
China: ICBC offers contactless cards 19
ING 20
Romania: ING Bank plans to trial NFC payments 20
MasterCard 20
Japan: MasterCard and Toshiba make PayPass more accessible 20
UK: MasterCard alliance with Payzone to deliver a POS reload service for MasterCard and Maestro prepaid cards in Europe 20
US: MasterCard launches new online travel platform 20
US: MasterCard Easy Savings program offers small businesses automatic savings on gas purchases 20
PayPal 21
US: PayPal adds Delta Air Lines to its list of merchants 21
Standard Chartered 21
India: Standard Chartered Bank uses security a new system from Arcot 21
Visa 21
Europe: Visa chooses Aconite technology for contactless prepaid card 21
France: Visa tests contactless payments 21
France: Banque Populaire Group and Visa Europe announce the launch of a contactless payment pilot in Besançon 21
US: Visa introduces its new commercial product, the Visa Meetings card 22
US: Visa expands its fraud recovery for card issuers 22
Other companies 22
Africa: Made in Africa and Monitise launch mobile banking in eight countries 22
Czech Republic: Ceska Sporitelna partners with the Serverside Group to offer personalized card designs 23
Europe: Monitise, Metavante and Carphone Warehouse to offer mobile prepaid cards 23
Europe: online payments provider Moneybookers targets Facebook users 23
India: HDFC Bank and ngpay partner to offer mobile funds transfer service 23
India: Max New York Life Insurance accepts mobile payment of premiums 23
Malaysia: EON Bank offers new co-branded cards 23
UK: new mothers to be targeted by Babee prepaid card from Altair Financial and Blueberry 24
M&A, Partnerships and Organic Growth 25
Atos-Origin 25
Netherlands: Atos-Origin and ING form European alliance in SEPA payment services 25
Crédit Agricole 25
Austria: Crédit Agricole Cheuvreux announces the opening of an Austrian branch 25
GE Money 25
India: GE Money and State Bank of India restructure SBI Cards JV 25
JPMorgan Chase 26
US: JPMorgan Chase acquires Target's credit card assets 26
Maybank 26
Pakistan: Maybank acquires a stake in MCB bank 26
St.George Bank 26
Australia: St.George Bank and Fidelity National Information Services announce a new processing relationship 26
US Bank 26
US: US Bank to provide cards to the US Postal Service 26
Wells Fargo 27
US: Wells Fargo acquires Flatiron 27
Appendix 28
Methodology 28
Further reading 28
Ask the analyst 28
Datamonitor consulting 28
Disclaimer 28
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Table 1: The 64 companies and subsidiaries covered by Datamonitor's Payment Card Competitor Tracker 2
Figure 1: May 2008 saw the highest level of competitor activity since November 2007 7
Figure 2: M&A activity has slumped whilst product innovation has grown strongly, May 2008 8
Figure 3: North America, Asia Pacific and Western Europe accounted for more than 90% of competitor developments in May 2008 9
Figure 4: Card issuers account for the majority of competitor activity, May 2008 10
Figure 5: May 2008 saw a concentration of loyalty and reward products developed 11
Figure 6: M&A, organic growth and partnership activity fell markedly in May 2008 12
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