A recent survey found global financial services industry executives are increasingly required to do more instant decision making. Three out of four respondents said they process immediate payments of one kind or another, and this number will grow as projects underway in countries such as Australia are implemented and planning progresses within Europe’s SEPA framework and the U.S. Federal Reserve.
The number of Japanese merchants accepting the China UnionPay card has soared 20% over the past year to nearly 400,000.
The weak Yen and easing of the Japanese visa policy is attracting more Chinese tourists this year as UnionPay adds special incentives.
Purchase Dollar Volume (PDV) for Visa, MasterCard, Discover and American Express U.S. credit cards is expected to reach $4.2 trillion annually by year-end 2019. According to forecaster RAM Research, the U.S. PDV for the U.S. credit card industry is growing at a CAGR of 9.99%.
The average charge-off ratio among the nation’s four largest issuers increased 12 basis points (bps) quarter-to-quarter (QOQ) to 3.09% in the first quarter (Q1/15). The top 100 U.S. banks posted a 10 bps increase QOQ to 3.07%, according to CardData.