News Topic: Walmart

Issuers like Chase and Citi that added installment features to compete with digital lenders will need to think beyond traditional card options. ... Read full article

Walmart has filed a patent application for a digital currency that, like Facebook's Libra, would be a stablecoin backed by traditional currencies. And it envisions a very specific use case where its coin could stand in for cash — or even for a bank ... Read full article

After rising between 2016 and 2018, the card issuer's charge-off rates are now steady. The trend reflects both the impact of tighter underwriting standards and the continued resilience of U.S. consumers. ... Read full article

The Silicon Valley-based fintech, which recently announced a new partnership with Walmart, plans to add hundreds of new workers this year. ... Read full article

The deal marks the first time that the retail giant will enable its customers to use fixed-rate loans, rather than credit cards, for big-ticket purchases in its stores and online. ... Read full article

The vast majority of comment letters to the FDIC support the fintech’s banking venture, in stark contrast to the public outcry over the pre-crisis ILC bids by large retailers. ... Read full article

In selling its Walmart credit card portfolio to Capital One and extending a partnership with Sam’s Club that appeared to be in peril, Synchrony Financial avoids an expensive legal battle with the world’s largest retailer. ... Read full article

As part of the agreement with HSN, Synchrony has also extended its partnerships with HSN affiliates QVC and the e-commerce site Zulily. ... Read full article

Amid negotiations with Synchrony Financial over the potential purchase of a $10 billion portfolio, Capital One's Richard Fairbank indicated Wednesday that he is willing to walk away. ... Read full article

What the Democrats' House takeover means for banks; Synchrony has a lot to lose in fight with Walmart; should industry fear Waters-led banking panel?; and more from this week's most-read stories. ... Read full article

After the retail giant filed an $800 million lawsuit against its former credit card partner, shares in Synchrony plunged. Now analysts fear its relationship with Sam’s Club may be in jeopardy. ... Read full article

The suit is tied to Walmart's decision to shift its credit card business to Capital One. ... Read full article

The Stamford, Conn.-based company reported 9% growth in net interest income and 14% growth in loan receivables during the third quarter, attributing the improvements to addition of the PayPal Credit portfolio in early July. ... Read full article

The Stamford, Conn., issuer of store credit cards has two potential options after the retail giant chose to partner with Capital One. But the decision over which path to take is out of its hands. ... Read full article

Synchrony Financial said its credit-card deal with Walmart won't be renewed and will expire next year. The largest issuer of store cards said Thursday that it's evaluating whether to sell the $10 billion in balances or retain the portfolio and ... Read full article

About 15% of Walmart’s workforce is budgeting and taking pay advances through the app. ... Read full article

With Walmart reportedly weighing bids from Capital One alongside incumbent Synchrony Financial to handle its private-label credit card account, Synchrony's use of data and artificial intelligence are more important than ever. ... Read full article

The change in store card branding would be a big blow to Synchrony; “equivalence” with EU rules “falls far short” of U.S. banks’ hopes. ... Read full article