Shares of KeyCorp (NYSE:KEY) ended Wednesday session in red amid volatile trading. The shares closed down -0.10 points or -0.81% at $12.22 with 14.04 million shares getting traded. Post opening the session at $12.31, the shares hit an intraday low of $12.19 and an intraday high of $12.40 and the price vacillated in this range throughout the day. The company has a market cap of $12.91 billion and the numbers of outstanding shares have been calculated to be 1.08 billion shares.
On Aug. 16, 2016 KeyBank has added Masterpass by Mastercard to its mobile payments capabilities in response to steadily growing client mobile payment use.
“We know our clients want to be able to choose the banking product that best fits their individual need, and mobile payments is no exception,” said Jason Rudman, director of KeyBank Consumer Payments and Digital Banking. “Whether clients prefer to pay via tap, dip or swipe, we want to be our clients’ primary payment provider as they determine how they want to make payments. We are excited to offer Masterpass to our clients.”
KeyBank’s partnership with Mastercard means KeyBank clients will have access to fast, simple and secure digital payments across devices and anywhere they want to shop—online, in app and now in-store.—with Masterpass by Mastercard.
Masterpass simplifies the checkout experience across a wide array of retailers. With Masterpass, clients can check out online or in-app by clicking the Masterpass button and authenticating to complete the transaction. They can make in-store payments simply by tapping at contactless-enabled merchants.
Shares of Fifth Third Bancorp (NASDAQ:FITB) ended Wednesday session in green amid volatile trading. The shares closed up +0.15 points or 0.74% at $20.37 with 13.66 million shares getting traded. Post opening the session at $20.30, the shares hit an intraday low of $20.10 and an intraday high of $20.78 and the price vacillated in this range throughout the day. The company has a market cap of $15.62 billion and the numbers of outstanding shares have been calculated to be 766.37 million shares.
On Sept. 14, 2016 GreenSky, LLC, announced a groundbreaking partnership with Fifth Third Bancorp (FITB) designed to add significant strategic value to both organizations and their customers.
The comprehensive agreement enables Fifth Third to originate loans through GreenSky’s existing merchant network and will be able to offer GreenSky’s financing solutions to merchants with whom it does business, improving credit access to those merchants’ customers.
Fifth Third has committed to provide phased quarterly financing for up to $500 million in loans originated through GreenSky’s system and has an option to increase that commitment up to $2 billion. The arrangements also include a $50 million investment from Fifth Third in the financial technology company.
Fifth Third Bank has also signed a separate letter of intent to license GreenSky’s market-leading technology platform and integrate it into its online and mobile banking channels and in its approximately 1,200 financial centers, improving speed of response on loan decisions and increasing overall loan originations with improved credit metrics. Near-instant loan decisions will become available to Fifth Third’s existing 2.2 million customer base.
“GreenSky maintains funding commitments with a number of outstanding banks,” said David Zalik, CEO of GreenSky. “This announcement, however, reflects more than solely a funding commitment. This is a multifaceted alliance that will not only benefit all parties, but that also will continue to drive customer-centric innovation in the years ahead.”
Greg D. Carmichael, president and CEO of Fifth Third Bancorp, provided additional context in saying: “As Fifth Third begins this relationship with GreenSky, we believe that the best outcomes for consumers and business customers are likely to come from this unique BankFinTech collaboration. This alliance will speed loan decisions for Fifth Third customers and bring new efficiencies and security to GreenSky’s customers.”