Energy Sector Stress to Impact Canada Credit Card Metrics

Energy Sector Stress to Impact Canada Credit Card Metrics

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] While the stress in the U.S. energy sector should not materially impact the credit profiles of large consumer lenders with national footprints, Canada is a different story. Visa and MasterCard data reveal there was a downturn in credit card spending in the first quarter. Fitch Ratings says it expects the cost…

Visa Now Claims 56% of All Global Purchase Transactions

Visa Now Claims 56% of All Global Purchase Transactions

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] New research also reveals debit cards with the Visa brand continued to account for the most purchase transactions with a share of 35.50%, followed by Visa credit cards with 20.02%, and MasterCard credit cards with 13.14%. According to The Nilson Report, MasterCard debit cards posted a 13.13% share, UnionPay credit cards…

StoneRiver Group Sale Pushes Fiserv Profits Higher

StoneRiver Group Sale Pushes Fiserv Profits Higher

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] WI-based Fiserv reported a huge year-on-year (YOY) jump in first quarter (1Q/16) net income thanks to an asset sale. Gross revenue posted a modest YOY gain driven by payments and industry products revenue. Fiserv posted gross revenue of $1331 million for the first quarter, a 4.4% YOY gain, compared to $1368…

Square Riding High - GPV 50%+ YOY & NFC/EMV Readers

Square Riding High – GPV 50%+ YOY & NFC/EMV Readers

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Square posted a stunning first quarter (1Q/16) with revenue up 50%+ year-on-year (YOY), gross payment volume (GPV) up more than 45% and Starbucks volume up more than 34%. Part of the growth is also driven by contactless (NFC) and chip reader (EMV) sales which have reached nearly half a million at…

Green Dot Rebounds Nicely from 2015 MoneyPak Suspension

Green Dot Rebounds Nicely from 2015 MoneyPak Suspension

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] CA-based prepaid card specialist Green Dot reported flat revenues and a weak profit for the first quarter (1Q/16). However, 1Q/16 was the first quarterly sequential growth in active cards in a year. Additionally, gross dollar volume (GDV) was up year-on-year (YOY) and purchase dollar volume was steady YOY for 1Q/16. Gross…

Western Union C2C Transactions +3% YOY; Mobile Hot

Western Union C2C Transactions +3% YOY; Mobile Hot

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Western Union (WU) first quarter (1Q/16) GAAP revenues, on a currency adjusted basis (FX), declined 3.8% year-on-year (YOY), while GAAP net income slipped 8.9% YOY. WU consumer-to-consumer (C2C) GAAP revenues FX declined 4.8% YOY, while consumer-to-business (C2B) GAAP revenues FX declined 7.9% YOY WU reported total GAAP Revenues FX of $1355.1…

Despite Unfavorable Macro-Environment FLT 1Q Strong

Despite Unfavorable Macro-Environment FLT 1Q Strong

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] GA-based FleetCor Technologies (FLT), a major provider of fuel cards and workforce payment products to businesses, reported first quarter (1Q/16) profits jumped 17% year-on-year (YOY) as domestic and international transactions also posted double-digit YOY gains in 1Q/16. FleetCor says its fundamentals were strong, organic revenue growth was approximately 9% in the…

GPN 1Q Steady Ahead of its Big 2Q Merger with HPS

GPN 1Q Steady Ahead of its Big 2Q Merger with HPS

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Atlanta-based Global Payments (GPN) reported first calendar quarter (1Q/16) [fiscal third quarter] gross revenues grew 2.2% year-on-year (YOY), while net income rose 10.4% YOY. Revenues for North America increased 1.1% YOY. GPN is gearing up for its merger with Heartland Payments Systems (HPS) in the second quarter. GPN will acquire HPS…

AmEx Surviving Cobrand Losses as US CIF +6.4% YOY

AmEx Surviving Cobrand Losses as US CIF +6.4% YOY

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The impact of the loss of the U.S. Costco and JetBlue programs is manifesting itself in the American Express (AmEx) U.S. Card Services (USCS) unit during the first quarter (1Q/16). However, AmEx continues to open new accounts at a record clip. Revenue and income were up slightly year-on-year (YOY) as outstandings…

Synchrony Retail Cards Continue to Bulldoze Profits

Synchrony Retail Cards Continue to Bulldoze Profits

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Synchrony Financial’s retail credit card business revenues posted a huge 14.7% year-on-year (YOY) gain for the first quarter (1Q/16) to $2.03 billion. During the quarter Synchrony renewed the Stein Mart and La-Z-Boy programs; signed a partnership with Marvel to offer Marvel MasterCard and co-promote Synchrony Bank’s deposit products; launched the Citgo…

Despite -23% Fuel Prices WEX 1Q Rev +12% FX; TX +9%

Despite -23% Fuel Prices WEX 1Q Rev +12% FX; TX +9%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] ME-based fuel card kingpin, WEX, reported first quarter (1Q/16) total revenue inched up 1.8% year-on-year (YOY), however net income rose 3.6% YOY in 1Q/16. Total revenue was $205.9 million for 1Q/16, compared to $212.6 million in 4Q/15, and $202.3 million for 1Q/15. WEX notes adjusting for constant currency (FX), fuel prices,…