Mastercard and Soros to Catalyze & Accelerate Economic Development for Vulnerable

Mastercard has emerged as one of the world’s leader in financial inclusion initiatives and has now teamed up with Budapest-born investor George Soros to create Humanity Ventures. The enterprise could catalyze and accelerate economic and social development for vulnerable communities around the world, especially refugees and migrants. Mastercard CEO Ajay Banga and George Soros met…

Citi’s Costco Card Drives PDV +60% & Outstandings +28% – Q4 Profits Soft

Citibank North America branded credit card metrics exploded again in the fourth quarter (4Q/16) as the Costco card acquisition from American Express last year remains in high gear, according to CardData. However, card income declined by double-digits in the fourth quarter, driven by the additional costs associated to the Costco portfolio. North America Citi-branded card revenue…

Sapphire Card Puts the Hurt on Chase Q4 Profits – PDV Up 13.5% YOY

Chase, the nation’s largest bank credit card issuer, continued to post double-digit year-on-year (YOY) growth in purchase dollar volume (PDV) in the fourth quarter (4Q/16) while YOY growth in outstandings (OUT) remained in the mid-single digits, according to CardData. Delinquency (DEL) and charge-offs (CO) jumped upward YOY as the account base remains stagnant and overall…

Credit/Debit Card Payments Maintain Lion’s Share of All U.S. Consumer Payments

Purchases of goods and services totaled $9.550 trillion in 2015, up 3.4% year-on-year (YOY). The four card-based methods of payment of credit, debit, prepaid, and electronic benefits transfer generated $5.665 trillion in purchases or 59.32% of all consumer payment systems volume. Credit cards accounted for $2.932 billion, 30.70% of volume. Debit cards accounted for $2.420,…