Citi Credit Card Profits Sag as Portfolio Stagnates

Citi Credit Card Profits Sag as Portfolio Stagnates

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Citibank North America branded credit card profits declined 19.0% and Citi retail cards declined 5.5% year-on-year (YOY) in the fourth quarter (4Q/15). Citi branded cards continue to experience no growth in outstandings and impacted by increased acquisition and rewards costs. 
 EOP outstandings declined 0.4% YOY from $67.5 billion one-year ago…

US Bank Posts Positive Gains in Consumer+Biz Cards

US Bank Posts Positive Gains in Consumer+Biz Cards

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. Bank (USB) posted a 4.0% year-on-year (YOY) gain in consumer and commercial purchase dollar volume (PDV) for the fourth quarter (4Q/15) as outstandings increased 4.4% YOY. Net income for U.S. Bank Payment Services, which includes cards, consumer lines of credit and merchant processing, increased 7.2% YOY to $326 million. PDV…

Visa + MC Cross-Border Transaction Volume Up 9.6%

Visa + MC Cross-Border Transaction Volume Up 9.6%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Cross-border transaction volume for Visa and MasterCard rose 9.6% year-on-year (YOY) in the third quarter. Visa’s cross-border currency adjusted (FX) gross dollar volume (GDV) increased 5.0% YOY, while MasterCard rose 15.7% YOY for FX GDV in the third quarter. Cross-border volume refers to payments and cash volume where the issuing country…

All Consumer Credit Card Fees

Credit Card Fee Income Up 4.4% to $94.3 Billion in 2015

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Credit card fee income rose 4.4% year-on-year (YOY) in 2015, topping $94 billion. Fees in every component increased with the exception of penalty fee income with decreased slightly. R.K. Hammer estimates that the card business saw a fee income increase of $4 billion in 2015 compared to 2014. New regulations and…

Digital Remittance on Fire as Remitly Likely to Top $1B

Digital Remittance on Fire as Remitly Likely to Top $1B

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Seattle-based independent digital remittance company, Remitly, reports it is on track to transfer $1 billion annually based on the rate of transfers in December. This represents an increase of more than 400% from January 2015. Remitly offers money transfers from the United States to the Philippines, India and Mexico, which alone…

China UnionPay Smashes New Year’s Day Volume Record

China UnionPay Smashes New Year’s Day Volume Record

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] China UnionPay reports transaction volume on its payments network set a new record during the 2016 New Year’s Day holiday (from January 1 to 3). Volume and transactions reached 348.64 billion Yuan and 250 million respectively, up by 26.2% and 16.4% respectively year on year. Among these transactions, offline transactions made…

U.S. 3Q/15 Consumer Debt Ratios Hover at 35-Year Lows

U.S. 3Q/15 Consumer Debt Ratios Hover at 35-Year Lows

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Financial Obligations Ratio (FOR) for 3Q/15 has declined to 15.31%, the lowest measurement since 1981 and the Debt Service Ratio (DSR) plunged to 10.03%, the second lowest ever recorded in 35 years. According to the Federal Reserve the FOR declined to 15.31% in 3Q/15, compared to 15.33% in 2Q/15 and…

U.K. Nov Credit Card Debt Growing 8.3% Annually

U.K. Nov Credit Card Debt Growing 8.3% Annually

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.K. consumer credit in November grew at an 8.3% annual rate to £178.2 billion. Within consumer credit, credit card lending increased by 6.0% year-on-year (YOY) to £63.1 billion and other loans/ advances increased by 9.6% YOY to £115.1 billion. All figures are seasonally adjusted. The Bank of England says both subsets…

Penalty Fees

Penalty Fees YOY 2015

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] After rising predictably YOY for most of the last decade, penalty fee income continued to slide dropping to $11.5 billion in 2015, compared to $11.7 billion and $12.0 billion According to the R.K. Hammer Card Penalty Fee Index, the lowest level since Index began. Despite the decline in penalty fees, total…


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Data Security 2016

Data breaches are the new normal. IT departments have to tackle constantly evolving security threats and many are struggling to keep up. Users continue to be the biggest threat to enterprise wide security, and in 2016, we’ll see a shift towards smart interoperable security tools which take the decision of what and when to encrypt out of their hands.