UK Credit Card Lending Marching North in March

UK Credit Card Lending Marching North in March

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.K. consumer credit continues to expand at a brisk pace, hovering around 10% year-on-year YOY. In March total consumer credit grew at a 9.7% annual rate, seasonally adjusted (SA) to £182.4 billion. The three-month annualized and twelve-month growth rates were 11.6% and 9.7% respectively. The Bank of England (BOE) reports consumer…

Discover Stays the Course Limited to Single Digit Growth

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] While not exploding, Discover’s (DFS) credit card portfolio continues to stay in positive territory. Year-on-year (YOY) growth in the first quarter (1Q/16) was limited to single digits, but charge-offs (CO) headed higher due to the historical seasonal impact of a first quarter. Discover’s total revenue rose 2.4% YOY to $2224 million,…

AmEx Global: US Card +5% YOY; International +8% FX YOY

AmEx Global: US Card +5% YOY; International +8% FX YOY

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] AmEx reported 1Q/16 gross revenue for its U.S. card business (USCS) rose 3.0% YOY to $3280 million, while net income increased 5.0% YOY to $694 million. Gross revenue for the AmEx international card business (ICNS) declined slightly (-1.0%) YOY, or +8.0% currency adjusted (FX), to $1313 million and net income slipped…

MC Joins Visa in the Need for Speed with New M/Chip Fast

MC Joins Visa in the Need for Speed with New M/Chip Fast

To beef up its existing technology to help speed EMV transactions and shoppers through checkout lines, MasterCard has unveiled M/Chip Fast. Developed on the principles of contactless or ‘tap-and-go’ technology, M/Chip Fast effectively prioritizes the parts of transactions that are critical to security. MasterCard says cardholders can expect to experience speeds closer to the familiar…

China’s UnionPay Issues its First U.S. Credit Card

China’s UnionPay Issues its First U.S. Credit Card

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] UnionPay International and Industrial and Commercial Bank of China US (ICBC US) have issued the first UnionPay credit card in New York. It’s both the first UnionPay credit card issued in the US market and the first credit card issued by a Chinese commercial bank in the US. UnionPay and ICBC…

Worldpay’s New Pricing Plans a Boon for UK Small Businesses

Worldpay’s New Pricing Plans a Boon for UK Small Businesses

Worldpay unveiled a unique offering for the UK payments industry that will provide a greater range of payment pricing options, meaning SMEs can find the perfect payment plan to fit their business.  Taking inspiration from the mobile telephony industry, the UK’s number one payment provider has added ‘Pay As You Go’ and ‘Fixed Monthly’ card…

V+M Intl Debit Card Cash Transactions Continue Robust

V+M Intl Debit Card Cash Transactions Continue Robust

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] International cash transactions (CTX) for Visa and MasterCard credit and debit cards grew by 8.2% year-on-year (YOY) in the fourth quarter (4Q/15). International CTX for credit cards decreased 4.6% YOY while international CTX for debit cards rose 9.2% YOY in 4Q/15. In the fourth quarter gross international payment card cash transactions…

BRIEFS: TNS; MONERIS; I3; and NFG

In Other News: TNS (Bluefin); MONERIS (talech); I3 (acquisitions); and NFG (EMV). TNS – Transaction Network Services is partnering with Bluefin Payment Systems to provide Bluefin’s Decryptx PCI-validated Point-to-Point Encryption (P2PE) solution within its Managed POS Encryption suite. MONERIS – Moneris Solutions and talech have formed a strategic partnership and referral agreement. As part of…

Nets to Launch Contactless Mobile Dankort with JCB’s J/Speedy in Denmark

Nets to Launch Contactless Mobile Dankort with JCB’s J/Speedy in Denmark

JCB has inked a partnership agreement which allows Nets to use J/Speedy, JCB’s contactless technology, for Dankort payments with smart phones in Denmark. When Nets launches Dankort on the mobile in autumn 2016 it will thus be based on an international, well-proven technology from JCB, an international payments scheme originating from Japan. JCB has many…