Tag: wells fargo
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Exploring the Risks and Rewards of Co-Branded Credit Cards for Banks
Co-branded credit cards, partnerships between banks and brands offering rewards to customers, account for a significant portion of issuer portfolios in the U.S., despite the risks involved. These cards aim to boost customer loyalty and spending, with banks, brands, and card networks all benefiting from the arrangement. However, some partnerships, like Wells Fargo’s deal with…
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Apple Intensifies Competition in Digital Wallet Space, Prompting Bank Countermeasures
The escalating competition between Apple and traditional banks over the digital wallet space is gaining momentum. Apple Pay, introduced in 2014, now sees activation on 78% of iPhones in the U.S., challenging the banks by charging them fees for transactions and potentially eroding their customer relationships. While Apple’s revenue from Apple Pay is a growing…