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Private Label

Welcome to the News View for "Private Label".

Here, on these archive pages, you'll find all of the articles on Payments News for Private Label listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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June 15, 2015

Headline News from - June 15, 2015

On the Web:

On the Wires:

  • clearXchange Announces Real-Time Payments Solution - “As people and businesses increasingly transition everyday activities from traditional to online channels they expect things to be completed faster,” said Mike Kennedy, CEO of clearXchange. “This includes financial transactions, particularly those with a need for real-time funds availability such as sending emergency money to kids, paying rent at the last minute or receiving funds for an accident claim or disaster relief. We look forward to offering real-time technology to meet those needs and enable the secure, convenient solutions customers expect from their banks.”
  • MasterCard Continues to Define the Future of Digital Payments with Tokenization Support for App, eCommerce and Recurring Payment Card-on-File Programs - “Merchants continue to innovate in many different and compelling ways for consumers to buy from them, including in app, eCommerce, recurring and subscription-based payment environments. These new experiences all involve storing card numbers,” said Ed McLaughlin, chief emerging payments officer, MasterCard. “We are very excited to announce the extension of our industry-leading MDES program to make all of these merchant shopping environments more secure and convenient for their customers using MasterCard tokens, seamlessly enhancing the systems merchants and acquirers already have in place, and eliminating a significant ‘hassle factor’ for consumers when card numbers change.”
  • MasterCard Becomes First Network to Add Tokenization Support for Private Label Credit Cards for Use in Digital Wallets - “Thanks to our ongoing innovation and strategic partnerships, we are helping shape the future of how private label credit cards work in whichever digital wallet customers choose,” said Margaret Keane, president and CEO of Synchrony Financial. “It was recently announced that our retail partner, JCPenney, will be among the first to offer its private label credit cardholders the ability to checkout with Apple Pay later this year. We are committed to working with our retail partners, MasterCard, and key payments industry players to preserve the benefits of our private label credit cards and patented Dual Cards in third-party digital wallets.”

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Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here:!

March 02, 2015

Headline News from - March 2, 2015

On the Web:

On the Wires:

  • Costco Enters Into a Long Term Co-Brand Credit Card Agreement With Citi and an Acceptance and Co-Brand Agreement With Visa - "Under the terms of the agreements, Citi, the world's largest issuer of consumer credit cards, would become the exclusive issuer of Costco's co-brand credit cards and Visa will replace American Express as the credit card network for Costco in the United States and Puerto Rico beginning April 1, 2016."

  • Visa and Samsung Bring Mobile Payments to the New Samsung Galaxy S6 - “Working in partnership with Samsung, we are able to bring secure mobile payments to millions of consumers around the world,” said Ryan McInerney, global president, Visa Inc. “Combining Visa’s expertise in payment technology with Samsung’s global leadership in creating innovative mobile experiences gives more choice to financial institutions who want to enable their customers to pay with the new generation of mobile devices.”

  • MasterCard Works with Samsung to Deliver Samsung Pay - “This is an exciting time for payments,” said Ed McLaughlin, chief emerging payments officer, MasterCard. “As consumers are increasingly relying on their mobile devices in their everyday lives, we are excited to work with an industry leader like Samsung to deliver new payment options to our cardholders around the world. We have been a pioneer of mobile commerce innovation for years and together we’re delivering a digital payment experience that is both simple and secure.”

  • U.S. Bank, Samsung Working on New Mobile-Payments Service - “We're thrilled to have payments become a core capability of the mobile phone,” said Pam Joseph, vice chairman and head of U.S. Bank Payment Services. “The result of mobile payments is that our customers can use the same, familiar credit-card payment system but with added security and convenience.”

  • Synchrony Financial Enables Private Label Credit Card Benefits Through the Samsung Pay Secure Mobile Wallet - “This fits perfectly into our mobile wallet strategy to build, partner and invest in the latest technologies to benefit our customers and our partners,” said Margaret Keane, President and CEO of Synchrony Financial. “We continue to make our cards valuable to consumers, retailers and merchants and are pleased to expand our capabilities to securely offer private label credit card benefits through this mobile payment solution.”

  • Visa and Airtel Extend Mobile Payments to Seven African Countries - “Mobile payments can transform the lives of people throughout Africa who commonly have access to a mobile phone, but not a bank,” said Vish Sowani, Vice President of MNO Partnerships for Visa. “For most new subscribers, this will represent their first payment account and bring some of the latest digital payment advancements into the everyday experiences of Airtel’s customers.”

  • Announcing Bango Grid: The Global Launch Pad for Carrier Billing - Ray Anderson, Bango CEO said: “There are more than 700 MNOs globally, with different billing systems. It is no surprise that even the most ambitious app stores have not yet achieved 100 MNO activations. Bango Grid is rocket fuel for app stores, providing the only way to increase carrier billing activations at scale. For the first time, the tools required to activate hundreds of markets are all in one place, through one integrated system. Backed-up by the Bango Payments Platform, app stores can now make carrier-billed payment a reality for every customer."

  • MasterCard Reveals Consumer Sentiment on Payments Evolves from “Why Mobile?” to “What’s Next?” in 24 Months - "According to the latest MasterCard research, consumers have shifted their focus from questioning the security of mobile payments to now discussing the possibilities of enhanced digital experiences on devices."

  • MasterCard and Cubic to Make Mobile Devices the Remote Control for Global Cities - “MasterCard and Cubic, both lead members in the Smart Cities Council, share a vision to improve quality of life for everyday citizens in cities and help authorities to better manage population growth and urban development,” said Will Judge, head of Urban Mobility, MasterCard Enterprise Partnerships. “Combining our expertise and reach allows us to ultimately drive greater value and make consumers’ lives easier and more enjoyable as they travel around and between connected cities.”

  • ACI Worldwide and STS PayOne Partner to Provide ePayment and Fraud Prevention Services to the Middle East - Commenting on the partnership, Mr. Janti Abdallah, STS PayOne General Manager, said: “We strive to offer the best ePayment solutions to our clients, which includes providing the highest levels of security and fraud prevention. We were among the first to adopt and promote 3D Secure in the region, in addition to PKI and SSL encryption, not to mention achieving PCI-DSS compliance. The partnership with ACI Worldwide is in line with this eagerness to adopt best practices in fraud prevention and sustain our distinction and innovation.”

  • Intel Launches New Mobile SoCs, LTE Solution - “The evolution of the mobile landscape and growth of smart, connected devices has led to increased demand for more connectivity and real-time, protected data on those devices,” said Krzanich. “All of these factors are driving a transformation of the network to accelerate the delivery of new personal computing experiences, services and capabilities in a safe and secure manner. Intel is one of the only companies in the world that can provide solutions end-to-end for the full spectrum of mobility.”

  • NXP Launches New Secure Service Development Platform for Secure Mobile Transactions - “The SSDP supports partners wanting to create new secure applications by removing the technical challenges they face in getting credentials on to the secure element in phones and wearable devices. Now, instead of taking months, new applications can be created and validated in a matter of weeks,” said Jeff Miles, VP Business Development, NXP Semiconductors. “The SSDP will streamline the process for the development community therefore enabling phone and wearable technology manufacturers to bring these new apps to market faster.”

  • Raise Welcomes Gift Card Pioneer Don Kingsborough to Board of Directors - “Don has had a career full of incredible successes, and the role he played in cementing gift cards as a shopping staple has really set the stage for what we do at Raise,” said George Bousis, founder and CEO of Raise. “He's seen everything on all sides of the spectrum and will be a valued advisor to the company as we rely on his unparalleled experience and know-how to help manage growth, expectations, hiring, infrastructure and more."

  • SecureKey Announces $19M in New Funding to Broaden Adoption of Its Identity Network Services - “SecureKey allows organizations to build or subscribe to an identity network that connects consumers to online services via a trusted third-party credential of their choice, where both privacy and security are paramount,” said Charles Walton, CEO of SecureKey. “The funding will help SecureKey accelerate its growth, as people, governments, and organizations worldwide embrace a future that removes the burden of passwords while giving consumers the convenience, choice, and control they deserve.”

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Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here:!

August 25, 2014

Headline News from - August 25, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here:!

August 30, 2013

Headline News from - August 30, 2013

On the web:

On the wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it:!

August 05, 2013

Headline News from - August 5, 2013

On the web:

  • We can’t make good coffee, but we can simplify payments - VeriFone Blog - "By leveraging many of the same technologies that helped to catalyze payment innovation, combined with forward-looking products that simplify the complexity inherent in payments, VeriFone is changing the model by which its customer and partners leverage new technology while easing the burden of adoption and deployment."
  • Mobile Chat Has a Place in Every Banking App - American Banker BankThink (Simon Zhen) - "Mobile chat, which is essentially text messaging with a bank associate, is less formal than an email and less time-consuming than a phone call."
  • Tune In to TMG’s New Podcast: The Future of Payments - TMG Blog - "As new competitors and new technology permeate the payments industry, financial institutions (FIs) must look for solutions to keep their brands relevant and attractive to consumers."

On the wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it:!

July 30, 2013

Headline News from - July 30, 2013

On the web:

On the wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it:!

February 27, 2012

January 31, 2012

January 30, 2012

December 15, 2011

December 05, 2011

November 29, 2011

November 17, 2011

October 06, 2011

July 19, 2011

NewComLink Secures $10 Million in Series B Funding

Newcomlink logo 140pxNewComLink, "a technology pioneer in retail credit solutions", has announced that it has received $10 million in a Series B round of financing from Austin Ventures and StarVest Partners.

“NewComLink is transforming the retail credit industry with a technology platform that brings new efficiencies to financing,” said NewComLink Co-Founder and CEO Suneet Paul, a global finance visionary who was a founding executive at Dell Financial Services and was instrumental in building it from ground zero to a large, multi-billion dollar business. “Many of today’s consumers are under-served, to the tune of tens of billions in lost retail sales each year. NewComLink unlocks value by improving consumers’ access to credit at point of need – benefiting retailers, consumers and lenders all at the same time.”

October 08, 2010

Citi Sells Private Label Credit Business to GE Capital

Citi_logo_140px.pngCiti has announced the closing of the sale of $1.6 billion in managed assets, part of its U.S. retail sales finance portfolios, to GE Capital.

Retail Partner Cards, within Citi Holdings, provides consumer and commercial credit card products and services, including private label credit cards, for national and regional retailers across the U.S. The business services more than 40 million customers and consists of managed assets of approximately $50 billion . Retail partners include The Home Depot, Shell, Macy's, Sears, and ExxonMobil, among others.

April 20, 2010

Target to Issue Proprietary Credit Cards to All New Credit Accounts

Target Corporation has announced that all new qualified credit card applicants will receive the Target Credit Card, a credit product accepted at all Target stores and Effective April 29, 2010, Target will no longer issue the Target Visa Credit Card to new credit card applicants. Existing Target Visa Credit Card holders will not be affected. READ MORE »

December 13, 2009

A Look at Retail Private Label Credit Cards

In an article titled "The Lure of Store Credit Cards, and the Hook" in Saturday's New York Times, Tara Siegel Bernard wrote about store-branded private label credit cards.

Retailers frequently offer discounts to shoppers who agree to sign up for one of their credit cards - but Bernard writes about how consumers can lose more than those discounts if they misse a payment - or suffer a hit to their credit score as the card issuer updates the credit bureaus about the new account.

A graphic accompanying the story notes that retail cards suffer higher credit losses than mainstream credit cards - no surprise if you consider a consumer trying to decide which card to keep alive and which to "let go".

December 07, 2009

Retailers Concerned About Proposed Fed Rules re: Instant Credit at POS

In an article titled "Hurdle Emerges for Stores Pitching Credit Cards", Robin Sidel writes for the Wall Street Journal about concerns that some major retailers have with proposed Federal Reserve regulations that would "force retailers to gather more financial information from customers— including how much they earn— before giving them credit."

June 11, 2009

An Overview of Green Dot, Home Depot's Payment Strategy

We mentioned earlier this week that copies of many of the presentations from the recent Chicago Fed Payments 2009 conference are now available online.

One of the more interesting presentations is the Overview of Green Dot presentation by Steve Streit, CEO. It includes a description of how Green Dot is three companies in one: a retail packaged goods provider, a financial services provider, and the Green Dot reload network (MoneyPak).

Another interesting presentation is Payment Strategy at Home Depot by Dwaine Kimmet, VP Home Depot Financial Services. Kimmet clearly lays out the retailer's payment priorities - and frustrations with increased interchange costs saying that, since 2002, Home Depot "has not seen value created by these new, higher fees." He goes on to describe the private label card approach that Home Depot's adopted which has become its lowest cost credit tender type.

There are lots of other interesting presentations from this recent conference - available here.

February 09, 2009

US Private Label Credit Card Losses Over 10 Percent

Credit losses on private label credit card portfolios in the US reached 10.51% in January according to a New York Times report by Tara Siegel Bernard. She writes: "While private label cards account for only about 11 percent of all credit card loans outstanding, their troubles offer a window into the deteriorating finances of some of the most distressed Americans."

January 05, 2009

Shell Launches Saver Card Based on Electronic Check

Shell Oil Products US has announced it has launched the Shell Saver Card - saying it is "the first gasoline retailer to make an electronic check payment method available to consumers nationally. This latest Shell payment option provides consumers with a convenient way to pay for purchases with a direct link to a checking account and savings on each gallon of fuel pumped at Shell stations." READ MORE »

September 03, 2008

Retail Credit Cards: New Interest In An Old Topic

Mercator Advisory Group has announced a new report titled "Retail Credit Cards: New Interest In An Old Topic" that "examines the venerable world of private label and co-branded retailer credit cards, and the market forces that are shaping this segment. The vast majority of retailers have turned their programs over to third party issuers, but these retailers' interest in payments as a sales enabler and relationship building tools have never been higher. And with more payment vehicles and providers at their disposal, retailers increasingly focus on developing their optimal payments strategy." READ MORE »

August 04, 2008

Wells Fargo Jewelry Advantage Credit Card

Wells Fargo Financial National Bank, a subsidiary of Wells Fargo & Company, has launched a new revolving consumer credit card program for the jewelry industry called Wells Fargo Jewelry Advantage. The new credit card program offers "jewelry retailers prompt, automated decisions and easy-to-use online processing and reporting." READ MORE »

June 26, 2008

GE's Credit Card Business Seems Unattractive to Potential Buyers

In an article titled "Nobody's Snapping Up GE's Plastic", Robin Sidel writes for the Wall St. Journal about GE's efforts to sell its $30 billion credit card business because of potential buyer concerns about consumers' ability to repay their credit card debts. In particular, there's concern that GE's private label portfolio could rank lower in consumers' payment hierarchy when times are tough.

November 30, 2007

A Look at Private Label vs. Co-Brand Cards from Retailers

In an article titled 'Target card or Target Visa? Which is better?', Gregory Taggart of takes a look and compares private label cards vs. co-brand cards - both from retailers.

October 07, 2007

Citi's Unexpected Cards Irk Customers

Bruce Mohl writes for the Boston Globe about Citi's recent mailing of 3.5 million MasterCards to Macy's private label customers whose accounts have been inactive.

August 31, 2007

GE Money to Purchase Chevron’s Proprietary Consumer Credit Card Business

GE Money has announced an agreement to purchase the proprietary consumer credit card business from Chevron Corporation subsidiaries, Chevron U.S.A. Inc. and Chevron Credit Bank, N.A. GE Money Bank will own and operate the Chevron- and Texaco-branded consumer credit cards.


July 17, 2007

Some Thoughts re: Capital One's Decoupled Debit Card

Broox Peterson shares some of his thoughts in a commentary reflecting on Capital One's recent introduction of a new "decoupled debit" card program.


July 02, 2007

A Look at Private Label Credit Cards

Alan Wolf reports for TWICE (This Week in Consumer Electronics) about private label credit cards - interviewing Brian Hughes, managing director of client development and marketing, HSBC Card and Retail Services, Lou Pagliarini, sales VP, GE Money, and Dan Abbott, president, Wells Fargo Financial Retail Services.

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