Despite, the lowest levels of delinquencies and net charge-offs, US credit card asset quality are expected to weaken modestly in 2016. The slowdown in asset quality improvement does not signal material credit deterioration over the near to intermediate term, but portfolio seasoning and recent growth will also weigh more heavily on credit quality metrics in 2016.
About a third of Americans say they either exclusively make holiday season purchases using credit cards (15%) or that they make more purchases on credit than they do using cash or debit cards (17%). Thirteen percent (13%) use each in equal measure, while roughly half (49%) say they use cash/debit either predominately (20%) or exclusively (29%).
New research shows criminals are becoming more creative where, when and how they take advantage of the season, as the number of fraudulent purchases increases proportionately when sales peak during the holidays.
Merchants continue to fail in delivering a seamless and localized ecommerce experience to shoppers outside their own country- a dangerous choice when 20% of all online shoppers currently come from foreign IP addresses, which is estimated to become 45% of all online shoppers by 2020.
Lightspeed POS has acquired Amsterdam-based eCommerce software company SEOshop. As part of the acquisition, Lightspeed is launching Lightspeed eCom, its new eCommerce platform in the UK.
Wirecard reports consolidated revenues grew by 29.3% in the nine months ending September 30. Sales revenues increased in the nine month period 2015 by 27.5% to EUR 541.0 million.
The 20th annual SESAMES Awards, which rewards the best innovations in the fields of secure payment solutions, identification and mobility. During this year’s CARTES SECURE CONNEXIONS event, 11 winners have been awarded.
The national VantageScore credit score is up by three points, from 666 to 669. Bankcard lending continues to increase, with new bankcards up 7.7%.
The average late stage U.S. credit card delinquency (90+ day) among the nation’s top four issuers increased six basis points (bps) sequentially, to 0.98% for the third quarter, compared to 0.92% in the prior quarter and 0.98% one-year ago. However, all the issuers, except Capital One, were down year-on-year (YOY), according to CardData.
CardFlash News Briefs: FDC (NCR); Nuspay (Nepal); ALLIED WALLET (j2Store); and AMEX (UAE).
More than six billion VantageScore credit scores were used in the 12-month period running from 3Q/14 to 2Q/15. The Company says it is a 100% increase over the previous 12-month period.
CA-based Applied Merchant Systems (AMS) acquired a strategic ISO with over 10,000 merchant accounts contributing over $2.2 billion in annual processing volume.