Payment Card Competitor Tracker: February 2009

Published by: Datamonitor

Published: Apr. 1, 2009 - 28 Pages

Table of Contents

Overview

Catalyst

Summary

Methodology

Table of Contents

Introduction

The Payment Card Competitor Tracker provides both one month and 12 month views of developments

Each month, Datamonitor tracks the most relevant announcements from 64 competitors

Datamonitor's Cards and Payments Team provides analysis of the key developments at both the one month and 12 month level

A fully searchable database of developments from January 2007 onwards is also delivered alongside the report

Key Developments in February

The acquisition of Chevy Chase by Capital One and the prepaid card collaboration between MasterCard and Accor Services were the key stories of the month

Capital One completes the acquisition of Chevy Chase bank, further enhancing its deposit base

MasterCard Europe and Accor Services tie up to launch PrePay Solutions

Discover launches Spend Analyzer tool to help its cardholders track their spending

Functionality like this is widely available in the commerical sector and could be a very powerful tool for adding value to customers

Developments have picked up in February but are still below 12-month average

There were 47 developments in the February competitor tracker, marginally better than in January

Product development has driven activity in February, with M&A picking up ever more since November

The majority of competitor activity occurred in North America and Western Europe but Asia Pacific also featured strongly

Issuers continue to account for the majority of activity although well below the 12 month average

Developments in loyalty programs and the commercial sector were the biggest areas of innovation in February

Partnership and M&A deals accounted for the bulk of activity in M&A, partnership and organic growth

Product, Services and Innovation

American Express

US: American express and Hilton HHonors launch a new co-branded credit card

US: American Express launches new membership reward program

US: American Express Open expands Open savings program

Bank of America

UK: MBNA launches new card rate

Bank of Montreal

US: BMO joins Montreal High Lights Festival as title sponsor

North America: BMO offers advise on strategies to help commercial clients in the economic recession

Barclaycard

UK: Barclaycard introduces new rates for its new and existing customers

Citigroup

Africa: Zain ties up with Citibank and Standard Chartered bank to provide mobile payments

Asia Pacific: Citibank launches new online money transfer service for US-based non-resident Indians

Czech Republic: Citibank credit card customers receive discounts with Citi Club partner network

India: Citibank launches the Citibank Platinum Select Credit Card with preferential rewards

Indonesia: Citi introduces new ePIB platform to simplify payment of corporate tax and duty

Korea: Citibank credit card campaign offers semi-final tickets to UEFA Champions League

Mexico: Telcel and Banamex Launch Banca Móvil

Philippines: Citibank expands mobile banking services

Thailand: Citi launches customer loyalty program

Thailand: Citibank Ready Credit campaign offers Ford Focus cars

US: Credit card issuers and payment network introduce 'Help With My Credit'

Crédit Agricole

France: Finaref launches new loyalty program

France: Finaref offers 'forfaitée barémique'

France: Finaref and Sofinco finalize partners to launch co-branded cards

Discover

US: Discover introduces Current by Discover card to help teens track spending habits

US: Discover launches Spend Analyzer tool to help card members track their spending

TSYS

US: TSYS launches private label card for merchants and consumer goods companies

Visa

Asia Pacific: Visa Commercial Offers launched to help Asia Pacific businesses manage costs

Australia: Visa, Telstra and NAB to continue working towards contactless mobile payments

Canada: Visa's contactless technology provides speed and convenience

Canada: Visa offers enhanced data reporting on WestJet transactions

Hong Kong: travel, shopping and gourmet benefits introduced for premium cardholders

Thailand: Visa launches merchant program to boost tourism

M&A, Partnerships and Organic Growth

American Express

Global: American Express becomes fourth owner-member of EMVCo

Atos-Origin

Europe: Atos Origin and Match Supermarket partner to provide CRM strategy

Barclaycard

UK: Barclays acquires PT Bank Akita

BNP Paribas

Italy: BNP Paribas and Fortis amend terms governing the acquisition

Capital One

US: Capital One completes the acquisition of Chevy Chase bank

Citigroup

Slovakia: Citi's utility cash payment service doubles transaction numbers

Deutsche Bank

Germany: Deutsche bank completes acquisition of Deutsche Postbank

First Data

Europe: First Data launches new solution for payment processes and loyalty cards for Mercator

ING

Canada: ING completes the sale of ING Canada

la Caixa

Spain: la Caixa and Societe Generale launch Self Bank

MasterCard

Global: MasterCard increases its stake in Strategic Payments Services to a 52.5%

Europe: MasterCard Europe and Accor Services tie up to launch PrePay Solutions

New Zealand: MasterCard to sponsor IRB Rugby World Cup 2011

US: MasterCard and H&R Block Bank sign a five year extension for debit brand exclusivity

Royal Bank of Canada

Canada: RBC extends business banking services in 12 countries

Visa

Spain: Visa to work with GSMA to provide mobile financial services

US: Commerce Bancshares and Visa renew partnership agreement

US: Navy Federal Credit Union and Visa renew their agreement

Appendix

Methodology

Further reading

Ask the analyst

Datamonitor consulting

Disclaimer

List of Tables

Table 1: The 64 companies and subsidiaries covered by Datamonitor's Payment Card Competitor Tracker

List of Figures

Figure 1: The Spend Analyzer is easy to use and useful tool for cardholders in managing their finances, 2009

Figure 2: There were 47 competitor developments among Datamonitor's list of tracked companies in February, slightly higher than recorded in Q4 2008 and January 2009

Figure 3: Product development accounted for the majority of activity in January, with M&A picking up but only slightly

Figure 4: North America, Western Europe and Asia Pacific all featured strongly in this tracker in terms of total number of developments

Figure 5: Card issuers accounted for the bulk of developments in February with schemes featuring strongly

Figure 6: Seasonal loyalty and commercial offerings promotions dominated overall competitor product and service category in February

Figure 7: M&A and partnership activity was prevalent down on the 12-month trend

Abstract

• 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.

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