AXP USCS Pinched by Costco Card Loss – Q1 Delinquency & Charge-Offs Rise

The impact of the loss of the U.S. Costco and JetBlue programs continues to manifest itself in the American Express (AmEx) U.S. Card Services (USCS) unit during the first quarter (1Q/17), according to CardData. AmEx reported 1Q/17 gross revenue for USCS decreased 8.0% YOY to $3019 million, compared to $3030 million for the fourth quarter…

Global Payment Cards (V+MA+AXP+DFS) Tops 5 Billion Up 6% YOY

Global payment cards-in force (CIF) [credit + debit] grew by 19.2% year-on-year (YOY) in the fourth quarter (4Q/16) to 4995 million. However, the figure for 4Q/16 includes 554 million for Visa Europe. (Visa added Visa Europe data as of 3Q/16.) Therefore, discounting Europe, the growth in global CIF was 6.0% YOY, adjusted, according to CardData.…

Major 4 Network Adjusted PDV Up 6.5% YOY FX in Fourth Quarter

Purchase dollar volume (PDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) globally rose 20.0% year-on-year (YOY) on a nominal dollars basis for the fourth quarter (4Q/16). However, on a currency adjusted basis (FX), global 4Q/16 PDV increased 20.7% YOY, according to CardData. The fourth quarter PDV figures are skewed as Visa…

Major U.S. Issuer Outstandings Up Double-Digits Thanks to American Express & Costco

U.S. credit card outstandings end-of-period (EOP) among the Top 4 U.S.  issuers gained 10.9% in the fourth quarter (4Q/16) year-on-year (YOY) to $417.2 billion, according to CardData. The gain was driven largely by Citibank as its acquisition of the Costco card portfolio from American Express has skyrocketed outstandings. BofA was unseated as the nation’s second…

Corporate Travel Policies Embrace Uber and Lyft — Driving Up Revenues 21%

A new report reveals ride-sharing services are now allowed by one-half of all corporate travel policies, a jump from 44% in June 2016. As policies expanded to include ride-sharing suppliers, such as Uber and Lyft, ridership among business travelers increased 21%. A majority of travelers anticipate using these types of services about the same amount…