Nordstrom sells bank card enterprise

Jun 3, 2015Updated Jun 4, 20251 min read

Luxurious division retailer Nordstrom has agreed to promote its bank card portfolio to Canada’s Toronto-Dominion Financial institution.

The deal covers Nordstrom’s branded Visa bank card and personal label bank card portfolios within the US. The financial institution may even grow to be Nordstrom’s unique shopper credit score companion.

Toronto-Dominion Financial institution is Canada’s second-largest lender by belongings, and the deal provides it an elevated footprint within the neighbouring US shopper credit score market.

In a press release, the 2 corporations stated the portfolio included US$2.2 billion in receivables.

In March 2013, Toronto-Dominion Financial institution purchased the $5.7 billion receivables of Goal Corp in one other deal.

“We discovered TD to be a robust cultural match, sharing our customer-focused strategy and offering capabilities to assist us additional improve the client expertise,” Nordstrom co-president Blake Nordstrom, stated within the assertion.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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