Bank of Ireland has reached agreement to sell its UK credit card business for £530m (€590m).The business comprises Bank of Ireland's branded consumer credit cards, and the bank's share of financial services and payments partnerships with the UK Post Office and car breakdown service the AA. The business division is being acquired by two special purpose investment vehicles linked to the European arm of US private equity firm Centerbridge Partners and UK financial technology business Jaja Finance.Bank of Ireland said it will use the sale proceeds for general corporate purposes. The sale excludes the bank’s commercial credit card portfolio in the North and credit cards issued in the Republic will not be impacted."[The] announcement demonstrates the bank’s continued progress in delivering against its strategic targets for growth and transformation to 2021, as set out at its Investor Day in June 2018," said outgoing Bank of Ireland UK chief executive Des Crowley.As … [Read more...] about Bank of Ireland sells UK credit card business for €590m
Credit cards business
Bank of Ireland to sell UK credit cards business for €591m
Bank of Ireland to sell UK credit cards business for €591m Independent.ie Bank of Ireland has agreed to sell its UK credit cards business for £530m (€591m). https://www.independent.ie/business/irish/bank-of-ireland-to-sell-uk-credit-cards-business-for-591m-38261596.html https://www.independent.ie/business/irish/article36972136.ece/4f7cf/AUTOCROP/h342/page15_boi.JPG Email Bank of Ireland has agreed to sell its UK credit cards business for £530m (€591m). This comprises of the Post Office, the AA and the Bank of Ireland's own branded UK consumer credit cards. The bank is selling the portfolio to British fintech Jaja Finance, a group backed by Centerbridge Partners Europe. Jaja will also become the issuer for the AA and Bank of Ireland's consumer credit cards. As at 31 December 2018, the UK consumer credit cards portfolio was around £545m and, in 2018, this business contributed £35m of total income and had operating expenses of £36m. The … [Read more...] about Bank of Ireland to sell UK credit cards business for €591m
Apple targets banking with launch of new credit card
Apple targets banking with launch of new credit card Independent.ie Apple has launched a new credit card called Apple Card. https://www.independent.ie/business/personal-finance/latest-news/apple-targets-banking-with-launch-of-new-credit-card-37949344.html https://www.independent.ie/incoming/article37949329.ece/92fa7/AUTOCROP/h342/1132776723.jpg Email Apple has launched a new credit card called Apple Card. The card, backed by Mastercard and Goldman Sachs, has no fees and dispenses with pin numbers, expirations dates, signatures and ‘CVV’ security numbers. The company will let users sign up for the Card on an iPhone and load the Card digitally onto their phone’s Wallet app. A physical credit card by Apple has also been launched. Apple says that the Card will be a US-only service “for now”. The system will provide a daily cashback system and bills will show businesses' names, not codes. The Card will also allow users to keep track of spending by … [Read more...] about Apple targets banking with launch of new credit card
Apple event: iPhone maker launches new credit card and TV streaming service
25 March 2019 • 6:52pm Apple has unveiled a new Apple Card, Apple Arcade and Apple TV+ in a series of announcements focused on its services offering Oprah Winfrey announced as key partner in Apple's new streaming service Apple’s attempts to revolutionise TV will face challenges as it takes on Netflix and Amazon The iPhone maker's launch set to be the biggest entry into media since launch of iTunes store in 2003 Apple has lifted the curtain on a secretive, decade-long effort to build a TV and film streaming service to rival the likes of Netflix and Amazon Prime. Apple has already announced a host of new services across its news, gaming and payments platforms. The announcement, which is ongoing and started at 5PM GMT, is Apple’s biggest one yet that doesn’t involve a major hardware launch. The tech giant has commissioned programming from A-list names such as Jennifer Aniston, Reese Witherspoon, … [Read more...] about Apple event: iPhone maker launches new credit card and TV streaming service
Apple launches its first credit card – with no fees
0 Have your say Apple has unveiled its first credit card – built directly into a user’s iPhone – as the company made a surprise new step into financial services. The new Apple Card will allow users to sign up from their iPhone and begin using it “in minutes”.The technology giant said its new system would automatically track and categorise spending for users, as well as customise repayment times.It will be usable anywhere around the world where the firm’s Apple Pay payment system is currently available.The firm said its card would have no fees and all purchases made with the card would receive 2 per cent cash back each day, rising to 3 per cent for purchases made at Apple stores or through the company itself.A physical version of the card is also to be launched for use in locations where Apple Pay is not accepted.The global tech giant was also expected to announce plans for TV and news subscription services from its California … [Read more...] about Apple launches its first credit card – with no fees