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The neobank launched the Ultra card, which offers travel, lifestyle, and investment perks. But stiff competition will pose a challenge.

Combined, Capital One and Discover would be the sixth-largest bank by assets and the largest credit card company by loan volume in the US. Capital One plans to maintain the Discover brand and will switch at least some of its cards to the Discover network, per a call with investors. Discover became a potential acquisition target last year after increased regulatory scrutiny led to a leadership shakeup.

Note: Credit card and loan accounts are excluded. Methodology: Estimates are based on the analysis of data from respective bank corporate disclosures, estimates from other research firms, historical trends, GDP trends, and macro-level economic conditions.

The details: The tie-up lets acquirers and merchants access Visa Installments alongside Splitit鈥檚 universal credit card acceptance in a single API integration. The pilot will launch in the second half of 2023 in selected markets. Splitit can benefit from Visa鈥檚 massive merchant network: Visa is the leading US payment network, making up more than half of all US card network transaction value in 2022.

Apple also announced new products: It partnered with Goldman Sachs to offer its credit card customers high-yield savings accounts and teased Apple Pay Later, which could lure in younger customers. It also launched Tap to Pay on iPhone, a mobile point-of-sale solution that lets merchants accept contactless payments using their iPhones.

Beyond delivery: DoorDash is exploring business opportunities beyond delivery through services like Package Pickup and its first-ever credit card. The company has also made several upgrades to its ad platform, including self-serve ad products with a consumer packaged goods ads manager, third-party platform partnerships with Pacvue and Flywheel, and API integrations.

The retailer has offered a rewards-based credit card for 30 years, but only launched a multitender loyalty program last year. 鈥淲e asked customers what they wanted,鈥� Jessica Dennis-Capiraso, senior vice president of marketing at Victoria鈥檚 Secret, said last week at CommerceNext. 鈥淎nd while they did want points and rewards, they also wanted experiences and access to exclusive products.鈥�.

People don鈥檛 necessarily spend a lot of time in credit card apps, and when they do, they鈥檙e probably not shopping. Focusing rewards on cash-back deals, as Chase is doing, may not appeal to consumers. 鈥淵ou don't get that instant gratification. You have to be willing to wait for the reward,鈥� said Marzano. But Chase鈥檚 current innovation is just the beginning of its potential commerce media endeavors.

As third-party identifiers became harder to use, advertisers and data owners鈥攕uch as media, retailers, and credit card companies鈥攖urned to clean rooms in 2022 as a privacy-safe way to share data鈥攁lbeit without fully replacing the capabilities of unfettered third-party data sharing. Current clean rooms still have limitations:. Interoperability.

Users will link their debit cards to the solution. Apple Pay Later will not accept credit cards to help prevent users from taking on more debt to pay back their loans. Why this is a big deal: The long-anticipated Apple Pay Later has strong growth potential. Apple Pay is already accepted at more than 1 million retail stores across the US, setting the stage for rapid and widespread uptake upon launch.

Open banking, alternative credit models drive US credit card digital account opening growth. Amazon adds new BNPL option to strengthen digital wallet. Apple鈥檚 financial services marketing promotes an immersive lifestyle, not just products. US mobile wallet users prefer PayPal, especially for online purchases.

鈥淢usk envisioned X.com as a comprehensive platform,鈥� a proto-super app 鈥渃overing banking, digital purchases, credit cards, investments, loans, and more.鈥�. The problem: Rebranding a universally recognizable social media platform could upend years of brand equity built by Twitter. 90% of Twitter鈥檚 revenue came from advertising in 2022.

Some 63% report having a credit card, per GWI鈥檚 Q2 2023 report. In addition, 39% have purchased a product or service online within the last week, and 30% are in a high income group. But despite their purchasing power, only 10% of boomers see themselves represented in advertising, according to the same report.

The platform鈥檚 鈥渧itals鈥� section combines market conditions and customers鈥� financial behavior to track their net worth, FICO score, portfolio performance, and credit card reward balances. Life Sync will also contain a news feed with financial content on topics like asset allocation and a podcast that covers subjects like retirement and family financial planning. How is it different?

BlockFi had strong ties to FTX鈥攖he crypto exchange received a $400 million credit facility from FTX earlier this year. Following its bankruptcy, BlockFi鈥檚 Visa rewards credit card became unavailable to new applicants and unusable to existing cardholders.

But Wells Fargo set aside $1.2 billion for credit losses, 26% higher QoQ, tied to commercial real estate, credit card, and auto loans. Consumer deposits were down 2% QoQ and 7% lower YoY at $1.36 billion. Goldman Sachs. Goldman鈥檚 profits shrank as its disappointing consumer banking endeavors and weak trading and dealmaking hurt growth.

Sales increased 10.6% compared with the same time period in 2023, per Affinity Solutions data based on credit card, debit card, and transaction data. Unlike Prime Day, these smaller sales don鈥檛 require shoppers to be Prime members to receive discounts. Still, 28% of Big Spring Sale shoppers who were not Prime members signed up for the program after the sale, according to data from CivicScience.

鈥淎 lot of Gen Zers are jumping onto buy now, pay later [BNPL] because they either don鈥檛 want to embrace traditional credit cards or don鈥檛 have the credit yet,鈥� said Feger, who expects the service to become even more popular for holiday shopping.