Wells Fargo Card Portfolio Up but Charge-Offs Higher

Wells Fargo 4Q/15 PTX Up 14.6%; m-Users Soar 14.9%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Wells Fargo fourth quarter (4Q/15) consumer credit card purchase dollar volume (PDV) rose 12.5% year-on-year (YOY) as purchase transactions (PTX) soared by 14.6%. Average consumer credit card 4Q/15 outstandings grew 9.3% YOY to $34.0 billion, compared to $32.3 billion for 3Q/15 and $31.1 billion for 4Q/14. Consumer credit card PDV for…

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Debt Collection Tops the FTC Complaint Report

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Debt collection, identity theft and imposter scams were the most common categories of consumer complaints received by the Federal Trade Commission’s Consumer Sentinel Network in 2015, according to the agency’s new data book. While debt collection complaints rose to the top spot among complaint categories, the report notes that this was…

X-Border Survey Finds Merchants Not Up to Snuff

X-Border Survey Finds Merchants Not Up to Snuff

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] New research shows cross-border commerce is still in its nascent stages and merchants remain unprepared to welcome international shoppers. Cross-border sales are expected to account for about 15% of total global e-commerce sales by 2018. According to the latest PYMNTS.com X-Border Index powered by Digital River, the average merchant scored 57…

Higher Card Rates and Fees Drive US Bank in 4Q/15

Higher Card Rates and Fees Drive US Bank in 4Q/15

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. Bank (USB) reports net interest income for Payment Services rose 10.4% year-on-year (YOY) in the fourth quarter (4Q/15) driven by improved loan rates and higher average loan balances and fees. Net income for Payment Services rose 7.2% YOY to $326 million for 4Q/15, compared to $320 million in the prior…

Visa 4Q/15 Profits Soar 24%; Global PDV Up 9% YOY

Visa 4Q/15 Profits Soar 24%; Global PDV Up 9% YOY

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa’s fourth quarter net income jumped 24% year-on-year (YOY) to $1.9 billion. Excluding the Visa Europe put option, 4Q/15 profits rose 7% to $1.7 billion. Global purchase volume rose 9.0% (FX) to $1.89 trillion and total processed transactions, which represent transactions processed by VisaNet, for the third quarter, were 19.0 billion,…

MasterCard Fourth Quarter Profits Rise 18% YOY FX

MasterCard Fourth Quarter Profits Rise 18% YOY FX

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MasterCard (MC) fourth quarter (4Q/15) profits rose 11.0% year-on-year (YOY), or up 18% on a currency adjusted basis (FX) to $977 million.  Cross-border volume rose 12% and gross dollar volume (GDV) rose 13%, on a local currency basis, to $1.2 trillion; and processed transactions increased 12% to 13.0 billion and end-of-period…

AmEx 4Q/15 U.S. Card Profits Climb 20% YOY

AmEx 4Q/15 U.S. Card Profits Climb 20% YOY

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] American Express (AmEx) fourth quarter (4Q/15) profits rose year-on-year (YOY) by 20.0% to $799 million. U.S. credit card outstandings declined 18.0% YOY to $51.4 billion, compared to $62.1 billion in the prior quarter and $62.6 billion in year ago quarter.  U.S. credit card Purchase Dollar Volume (PDV) rose 5.0% YOY to…

Capital One U.S. Cards Continue to Kick Butt in 4Q

Capital One U.S. Cards Continue to Kick Butt in 4Q

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Capital One (COF) continues to lead the U.S. credit card industry in outstandings and volume growth, posting a strong 13% year-on-year (YOY) gain in end-of-period (EOP) outstandings and a whopping 18% surge in Purchase Dollar Volume (PDV) for the fourth quarter. As the most U.S. inclusive issuer, COF U.S. cards reported…

AmEx & CFO Survey Worldwide Finance Executives

AmEx & CFO Survey Worldwide Finance Executives

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] While U.S. finance executives are less optimistic than last year, their confidence in the U.S. economy remains above the global average of 65%. According to a new survey from American Express and CFO Research, 75% of U.S. finance executives report that their companies’ revenues are higher now than a year ago,…

CardFellow Attacks the Rules Surrounding Card Surcharges

CardFellow Attacks the Rules Surrounding Card Surcharges

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] CT-based CardFellow released an infographic version of its popular blog post offering detailed information about the rules surrounding surcharges. The infographic combines information on card brand regulations, consumer opinions of surcharging, and details on credit card usage in order to highlight the multiple facets involved. Credit card processing costs have long…

Contactless Volume on MasterCard’s UK Net Up 375% YOY

Contactless Volume on MasterCard’s UK Net Up 375% YOY

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The total number of MasterCard processed transactions passed the 1 billion mark in Europe last year – an increase of 150% from 2014. MasterCard’s latest figures reveal that the UK is leading the way with the number of active contactless cards in circulation growing by 188% in the UK, and contactless…