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Capital One continues to grow card business, auto book

BankInovation

Capital One's focus on digital tools and dealer relationships contributed to increased auto originations in the first quarter as the lender looks to keep pace with industry competition. Auto originations increased 20% sequentially and 33% year over year to $11.7

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Capital One Sees Domestic Card Purchase Volumes Surge 11 Pct

PYMNTS

Amid the spate of financial institutions reporting results that show increased traction in consumer spending — especially across credit cards — add Capital One Financial to the list. He said “there will be a growing front book, which will be the originations that we will do under this new partnership.”.

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Capital One Tops Q1 Views; Credit Card Loans Up 2 Pct

PYMNTS

Capital One Financial posted results that were higher than Street estimates as its core card business grew, as did commercial lending activity. In reference to credit card operations, the company said that as average loans were up $2 billion, purchase volume was up eight percent, and the revenue margin of 16.3 percent.

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Goldman Sachs To Pay $2.5B For General Motors' Credit Card Business

PYMNTS

Goldman Sachs has beat out competitor Barclays to buy General Motors (GM)'s credit card business, according to a report from The Wall Street Journal (WSJ). In their pitches to GM, both Goldman and Barclays promoted the idea of cars as eCommerce portals, a notion supported by auto makers and card networks like Visa and Mastercard.

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Brex Rolls Out Corporate Card For eCommerce Cos

PYMNTS

Commercial card company Brex is rolling out a new card product designed to meet the specific needs of eCommerce businesses, the firm said in a press release Tuesday (Feb. When Brex first launched its initial commercial card solution last year, the company targeted technology startups. “Brex sees the world differently.

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Commercial Cards Gear Up For Corporate Travel’s Return

PYMNTS

At least, that’s what commercial card technology players believe, with this week’s rundown of the latest initiatives in corporate card solutions placing a focus on returning business trip volume. Expensify Links Cards To Booking. Emirates Islamic Launches Cards For SMBs.

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New Indonesia Credit Card Designed To Help Unbanked

PYMNTS

Indonesia -based Traveloka has partnered with Bank BRI on a credit card for Indonesia’s unbanked. The travel and lifestyle platform has received investments from the likes of JD.com, Sequoia Capital and Hillhouse Capital, according to Deal Street Asia. There are plans to issue 5 million PayLater cards by 2025.

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