Payment Card Competitor Tracker: August 2009

Introduction

The Payment Card Competitor Tracker provides expert analysis and opinion on the strategic moves of leading competitors in the payment card market. Produced on a monthly basis, the Tracker is a global product and covers 60 players, including American Express, Barclaycard, Capital One, Citigroup, Discover, GE Money, First Data, HSBC, JCB, MasterCard, Standard Chartered and Visa.

Reasons to Purchase

*Gain invaluable information on your key competitors in one concise document, and track long-term trends using the interactive news database.

*Sharpen your strategy by implementing the best market, product, competitor and strategic developments of leading global players.

*Learn the Datamonitor Cards & Payments Team's view on the most important competitor developments in the month.

Report Highlights

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Overview 1
Catalyst 1
Summary 1
Methodology 1
Table of Contents 2
Introduction 3
The Payment Card Competitor Tracker provides both one month and 12 month views of developments 3
Each month, Datamonitor tracks the most relevant announcements from 64 competitors 3
Datamonitor's Cards and Payments Team provides analysis of the key developments at both the one month and 12 month level 4
A fully searchable database of developments from January 2007 onwards is also delivered alongside the report 4
Key Developments in August 5
In August, the key story was the possible development of an open-loop contactless transit system in the US 5
The Chicago Transit Authority is poised to boost open-loop contactless payments via transit applications 5
Barclaycard reveals the success of its early assistance service for UK card holders facing financial difficulty 6
Discover's new advertising campaign focuses on what cardholders 'get back' using card loyalty rewards 7
There were 58 developments in August, slightly ahead of the 12-month average 8
There were 58 developments in the August competitor tracker, compared to the 12-month average of 56 8
Product development and M&A were both responsible for the rise in activity in August 9
North America and Asia Pacific were the regions with the most competitor activity in August, in line with the 12-month trend 10
Issuers featured strongly in August, but schemes and associations were also ahead of the 12-month trend 11
Apart from developments in rewards, new payment technology and the commercial sector were the biggest areas of interest in August 12
Issuers, schemes and processors are continuing to adopt contactless technology 12
Commercial sector continues to account for a significant portion of activity among issuers 13
Mobile technology is also an area of interest for players 14
Partnerships accounted for the bulk of activity in M&A, partnership and organic growth 14
There were several notable deals in the Asia Pacific and the US in August 15
Product, Services and Innovation 17
China UnionPay 17
China: China UnionPay launches CUP-standard Shanghai tourism cards 17
Taiwan: China UnionPay launch card acceptance business 17
UK: China UnionPay announces the acceptance of CUP cards at all LINK ATMs 18
Citigroup 18
Hong Kong: Citi announces the launch reward benefit 18
India: Citibank announces the launch of Citi Titanium cash rewards credit card 19
Indonesia: Citi and Giant announce the launch of co-brand card 19
Indonesia: Citi and AXIS launch 'Auto Reload', an automatic payment service 19
South Korea: Citibank Korea announces the launch of the Citi International cash check card 20
Singapore: Citibank launches mobile banking services 20
The Philippines: Citi announces new rewards and benefits to new and existing credit card holders 21
Thailand: Citi Global Transaction Services announces the launch of Citibank commercial cards 22
US: Citi launches mobile banking services to smartphones 22
Discover 23
US: The Home Depot to accept Discover Zip payment devices 23
US: Discover's Cashback Bonus offers cash rewards and bonuses on purchases 23
First Data 24
US: First Data launches FD400, a wireless enabled terminal line 24
Industrial and Commercial Bank of China 24
China: ICBC and BNY Mellon launch Remit Worldwide 24
China: ICBC introduces mobile banking 3G 25
JP Morgan Chase 25
US: JP Morgan Chase and United Airlines launch three new credit cards 25
US: JP Morgan Chase offers rewards on every purchase made through Chase Freedom credit card 26
US: Chase Card Services launches rewards for affluent customers 27
Mashreqbank 27
UAE: Mashreqbank launches co-brand with Grand Entertainment 27
MasterCard 28
Japan: MasterCard re-launches MasterCard Business Offer program 28
Taiwan: Cathay United Bank and MasterCard worldwide launch Cathay United Bank PLAY card 28
US: The Home Depot to accept PayPass 29
US: Whataburger to accept PayPass 29
PayPal 29
US: PayPal launches Student Account 29
Royal Bank of Canada 30
Canada: RBC and WestJet launch co-brand 30
US Bancorp 30
US: US Bank to add Visa payWave technology to unembossed debit cards issued 30
Visa 31
Hong Kong: TurboJET to accept Visa payWave 31
US: Visa and US Bank launch Syncada, a financial supply chain network 31
Wells Fargo 32
US: Wells Fargo introduces online payment feature 32
Other 32
US: Chicago Transit Authority poised to implement an open-loop contactless fare collection system 32
M&A, Partnerships and Organic Growth 33
American Express 33
UK: American Express and British Airways renew their partnership 33
ANZ Bank 33
Asia: ANZ Bank to acquire select RBS businesses 33
Bank of America 34
US: Bank of America and Bottomline Technologies form alliance for electronic payment and invoice network 34
Bank of Montreal 34
Canada: BMO Spend & Payment Solutions partners with Tri-Pen TravelMaster 34
Canada: BMO Spend & Payment Solutions partners with CyberShift 35
Barclaycard 35
UK: Barclaycard reveals the success of its early assistance initiative 35
BBVA 35
US: BBVA Compass acquires banking operations of Guaranty Bank 35
BNP Paribas 37
Argentina: BNP Paribas' Buenos Aires sells its retail banking business to Banco Santander Río 37
France: BNP Paribas and Intesa Sanpaolo reach agreement on Findomestic 37
China UnionPay 37
China: China UnionPay and HNA Group sign agreement 37
Discover 38
India: Venture Infotek and Diners Club International sign long-term agreement 38
First Data 38
South Africa: First Data acquires CashAxcess to provide ATM deployment services 38
US: First Data renews transaction processing services agreement with PNC Financial Services group 39
GE Money 39
Puerto Rico: GE Money signs multi-year agreement with Rooms To Go to provide consumer finance 39
US: GE Money renews of Wal-Mart credit card program 39
US: GE Money signs multi-year agreement with ABC Warehouse 39
Industrial and Commercial Bank of China 40
Macau: ICBC established by merging ICBC Macau Branch and Seng Heng Bank 40
MasterCard 41
Asia Pacific, Middle East and Africa: MasterCard achieves growth in second quarter of 2009 41
Asia Pacific, Middle East and Africa: MasterCard announces a 49% increase in dollar volume in its Titanium card program 41
Latin America and Caribbean region: MasterCard reports growth in second quarter 41
US: MasterCard and CyberShift collaborate to provide organizations with expense management solution 42
RBS 43
Pakistan: RBS Pakistan enters into a sale agreement with MCB Bank 43
Standard Chartered 43
Thailand: Standard Chartered bank partners with Major Cineplex group 43
TSYS 43
China: China UnionPay Data Services signs five new long- term bankcard processing agreements 43
US: TSYS and Global Cash Access execute processing services agreement 43
US Bancorp 44
US: Elavon extends partnership with KeyCorp 44
US: Elavon acquires merchant processing portfolio of MB Financial Bank 44
Visa 45
Europe: Visa Europe reports a 14% increase in the number of transactions 45
Appendix 46
Methodology 46
Further reading 46
Ask the analyst 47
Datamonitor consulting 47
Disclaimer 47
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List of Tables
Table 1: The 64 companies and subsidiaries covered by Datamonitor's Payment Card Competitor Tracker 3
Table 2: Current relevant publications, 2008-09 46
Table 3: Future relevant publications, 2009 47
List of Figures
Figure 1: In August, competitor developments saw an increase on the previous month, with 58 developments, in line with the 12-month average of 56 8
Figure 2: August witnessed a significant rise in the number of developments relating to product, services and innovation, and M&A compared to July 9
Figure 3: North America and Asia Pacific accounted for the most stories in August, in line with the 12-month trend 10
Figure 4: Issuers accounted for the most activity in August, with 32 developments in total, in line with the 12-month trend 11
Figure 5: New payment technologies, rewards and the commercial sector were the key areas for developments in product, services and innovation in August 12
Figure 6: Partnerships accounted for the majority of developments in August, with 15 announcements it total 15
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