Payment Card Competitor Tracker: Quarter Four, 2006

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.

Report Highlights

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Overview 1
Catalyst 1
Summary 1
Methodology 1
Table of Contents 2
Overview 1 2
Catalyst 1 2
Summary 1 2
Methodology 1 2
Introduction 10 2
Who is the target reader? 10 2
Changes to the format of the Competitor Tracker in 2007 10 2
The Payment Card Competitor Tracker is now organised by theme 10 2
An extended, topic driven commentary replaces the Cards & Payments Team view 10 2
How to use the Payment Card Competitor Tracker 10 2
Product, Services, and Innovation 13 2
Roundup of the key developments in Q4 2006 13 2
Card product developments 13 2
Processor product and service developments 14 2
New technologies and product innovation 15 2
American Express 17 2
China: ICBC launches an American Express corporate card 17 2
Saudi Arabia: American Express launches Blue 17 2
Thailand: American Express and Citibank fight over Thai middle class 17 2
US: American Express and JetBlue Airways launch co-brand small business card 17 2
US: American Express to offer cashback on small business cards 18 2
US: American Express launches super-premium reward suite 18 2
ANZ Bank 18 2
Australia: ANZ and Westpac launch prepaid gift cards 18 2
Australia: ANZ launches a card personalisation program 19 2
Atos Origin 19 2
Germany: Atos Origin offers card instalment credit processing 19 2
Bank of America 20 3
US: Bank of America launches co-brand credit card with Caremark 20 3
US: Bank of America to launch co-brand with Aetna 20 3
US: Bank of America launches affinity banking 21 3
US: Bank of America to issue Dallas Cowboys branded cheques 21 3
UK: MBNA sells UK savings account business to Yorkshire Building Society 21 3
Barclaycard 21 3
UK: Barclaycard to offer Oyster and Visa contactless functionality on its cards 21 3
UK: Barclaycard has one million subscribers to online security system 22 3
Citigroup 22 3
Czech Republic: Citibank and Shell launch a new co-brand credit card 22 3
Egypt: Citibank offers interest free promotion in partnership with Beymen Cairo 22 3
Germany: Citibank offers free cash withdrawals to credit cardholders 23 3
Greece: Citibank launches a co-brand with Tellas 23 3
Hungary: Citibank and Shell launch a new co-brand credit card 23 3
India: Citibank and South Indian Bank launch co-brand 24 3
Mexico: Banamex and MasterCard launch PayPass 24 3
Mexico: Banamex launches a co-brand with Costco 24 3
Philippines: Citibank publishes educational material for first-time credit cardholders 24 3
Singapore: Citibank launches biometric payments for platinum cardholders 25 3
US: Citigroup, MasterCard, and Nokia trial PayPass in a mobile phone handset 25 3
US: Citibank upgrades the Home Depot Rewards MasterCard to its ThankYou network 26 3
First Data 26 3
Canada: First Data supports launch of Cineplex gift card 26 3
Canada: First Data to offer INTERAC services in 2007 26 3
Germany: First Data migrates 1.1 million cards to its processing platform 26 3
GE Consumer Finance 27 4
China: GE and Wal-Mart issue cards in partnership with Shenzhen Development Bank 27 4
US: GE Consumer Finance and Stein Mart announce co-brand 27 4
Grupo Santander 28 4
Spain: Santander launches premium debit product for foreign customers 28 4
JCB 28 4
Netherlands: JCB expands NFC trial 28 4
JP Morgan Chase 29 4
Canada: Chase launches co-brand with Marriott 29 4
US: Chase launches co-brand with Soccer United Marketing 29 4
US: Chase launches co-brand with Miami HEAT 29 4
US: Chase launches co-brand with Nashville Predators 29 4
KBC 30 4
Belgium: KBC announces repricing of its banking and card products 30 4
MasterCard 30 4
Europe: MasterCard announces Maestro fallback interchange rate for SEPA 30 4
Europe: MasterCard announces further PayPass trials 31 4
Germany: Sparda-Banks to convert debit portfolio to Maestro 31 4
Taiwan: MasterCard expands PayPass acceptance 32 4
US: MasterCard announces an expansion in PayPass acceptance 32 4
US: MasterCard trials PayPass in toll road environment 32 4
US: MasterCard announces first PayPass acceptance in taxis 32 4
US: MasterCard announces the launch of its prepaid card reloading service 33 4
Morgan Stanley 33 4
US: Discover launches online shopping portal for cardholders 33 4
National Australia Bank 33 4
Australia: National Australia Bank announces plans to issue on China UnionPay 33 4
TSYS 33 5
Europe: TSYS certified to process MasterCard prepaid cards 33 5
Visa 34 5
Austria: Visa announces the first V PAY transaction 34 5
Germany: Volksbanken und Raiffeisenbanken to co-brand with V PAY 34 5
Germany: Visa announces B+S as a V PAY acquirer 34 5
Switzerland: Visa announces new V PAY acquirer 34 5
US: Visa launches its first prepaid card with contactless functionality 35 5
US: Visa announces an expansion in prepaid infrastructure 35 5
Westpac 35 5
New Zealand: Westpac launches Visa branded debit card 35 5
Other competitors 36 5
UK: Lloyds TSB launches debit card savings product 36 5
M&A, Partnerships and Organic Growth 37 5
Roundup of the key developments in Q4 2006 37 5
Merger and acquisition activity 37 5
New partnerships and contract renewals 38 5
Organic growth and expansion 40 5
AEON Credit Service 41 5
Aeon announces plans to allow China UnionPay cardholders to use its Japnese network 41 5
American Express 41 5
Global: American Express to outsource prepaid card processing to eFunds 41 5
ANZ Bank 42 5
Australia: ANZ to buy the Quantas Frequent Flyer program 42 5
Atos Origin 43 5
Belgium: Atos Origin completes acquisition of Banksys and BCC 43 5
Bank of America 43 5
US: Bank of America extends more than 70 affinity relationships 43 5
Barclaycard 43 6
Norway: EnterCard and SpareBank 1 extend partnership agreement 43 6
Uganda: Barclays acquires Nile Bank 43 6
Capital One 44 6
US: Capital One completes the acquisition of North Fork Bancorporation 44 6
Citigroup 44 6
Australia: Citibank buys Bank of Queensland's credit card portfolio 44 6
Central America: Citigroup announces the acquisition of Grupo Financiero Uno 44 6
Central America: Citigroup announces the acquisition of Grupo Cuscatlan 45 6
China: Citibank to expand its ATM infrastructure 46 6
Turkey: Citigroup acquires a 20 per cent equity interest in Akbank 46 6
Venezuela: Citibank expands network of cash accepting ATMs 47 6
Erste Bank 47 6
Romania: Erste Bank completes acquisition of Banca Comerciala Romana 47 6
Ukraine: Erste Bank acquires Bank Prestige 47 6
First Data 48 6
Asia: First Data strikes deal with Standard Chartered across Asia 48 6
Argentina: First Data completes acquisition of Argencard 48 6
Europe, Africa: First Data wins contract to support Société Générale's international expansion program 49 6
Germany: First Data extends acquiring processing contract with Concardis 49 6
Germany: First Data sells easycash 49 6
Guatemala: First Data signs payment processing agreement with Tarjetas Cuscatlan de Guatemala 49 6
Romania: First Data launches processing services for Cetelem 50 6
Trinidad & Tobago: First Data signs processing agreement with First Citizens Bank 50 6
UK: First Data renews Lloyds TSB processing contract 50 6
US: First Data renews agreement with First Federal 50 6
US: First Data renews agreement with Wells Fargo 51 7
US: First Data renews processing agreement with Advanta Bank 51 7
US: First Data renews STAR Network relationship with Oswego Community Bank 51 7
GE Consumer Finance 51 7
India: GE and SBI joint venture hits the 3 million card mark 51 7
Latvia: GE Money takes a majority stake in Baltic Trust Bank 52 7
HSBC 52 7
Central America: HSBC completes acquisition of Grupo Banistmo 52 7
India: HSBC (India) reaches the two million credit card mark 52 7
JCB 52 7
Austria: JCB signs an agreement with Europay Austria to expand its acceptance 52 7
China: JCB forms a further issuing partnership 53 7
JP Morgan Chase 53 7
US: Chase Bank to place ATMs in Walgreens stores in a further two states 53 7
US: Chase finalises the acquisition of Bank of New York portfolios 53 7
KBC 54 7
Czech Republic: KBC moves closer to full ownership of ?SOB 54 7
Morgan Stanley 54 7
Global: Morgan Stanley to spin off Discover 54 7
Global: Discover and China Unionpay complete reciprocal acceptance agreement 54 7
Global: Morgan Stanley and Visa settle antitrust dispute 55 7
Nordea 55 7
Russia: Nordea acquires a majority stake in Orgresbank 55 7
Russia: Nordea divests shareholding in International Moscow Bank 55 7
Royal Bank of Scotland 56 7
UK: RBS joins with subpostmasters to install free-to-use ATMs 56 7
Standard Chartered 56 8
China: Standard Chartered announces plans to enter China 56 8
Taiwan: Standard Chartered acquires Hsinchu 57 8
TSYS 57 8
Netherlands: TSYS to process for Rabobank 57 8
US: TSYS Prepaid reaches 11 million healthcare accounts 57 8
Visa 58 8
Asia-Pacific: EMV chip cards reached 52 million in June 58 8
Croatia: Visa sees strong demand for credit cards 58 8
Russia: Visa announces growth in card issuance 58 8
Serbia and Montenegro: Visa announces growth in card issuance 58 8
Spain: Visa commercial card use rises 59 8
US: Visa reports strong growth in sales volume 59 8
Other competitors 59 8
Ireland: Fortis and An Post form joint banking venture 59 8
Italy: SIA and SSB announce merger plan 59 8
Singapore: DBS annouces it has issued one million cards 60 8
South Korea: Shinhan acquires a majority stake in LG Card 60 8
UK: Prudential rejects bid for Egg 60 8
Staffing, Strategy, and Financial Results 62 8
Barclaycard 62 8
Group: Barclays announces board changes 62 8
BBVA 62 8
Group: BBVA announces new management structure 62 8
Citigroup 63 8
Global: Citigroup name new chief operating officer 63 8
Grupo Santander 63 9
Group: Santander makes appointments to its International Advisory Board 63 9
Nordea 63 9
Group: Nordea announces board changes 63 9
Standard Chartered 63 9
Group: Standard Chartered announces board changes 63 9
Visa 63 9
Europe: Visa appoints new head of European marketing 63 9
Global: Visa announces global restructuring 64 9
Other competitors 64 9
China: China Merchants Bank to focus on its credit card portfolio 64 9
APPENDIX 65 9
Methodology 65 9
Further reading 65 9
Ask the analyst 65 9
Datamonitor consulting 65 9
Disclaimer 65 9

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