Credit Card Revolvers Grow to 43% as Transactor Accounts Dip to 29%

New research reveal the number of new credit card accounts (those opened in the previous 24 months) rose 10.7% year-over-year to 87.3 million, with subprime account openings growing the fastest with 27 million new accounts.  Subprime accounts remain well below pre-recession levels, comprising 20% of total accounts – roughly equal to 2012 – while prime…

While Losing Marketshare BofA Holds Stable Q4 Credit Card Performance

The nation’s third largest Visa and MasterCard issuer continued to struggle in the fourth quarter (4Q/16) with sluggish outstandings (OUT) and purchase dollar volume (PDV) growth, but other metrics, remain fairly stable, according to CardData. Pre-tax net income edged down 1.8% YOY to $1290 million in 4Q/16, compared to $1218 million in the prior quarter…

Capital One EOY Outstandings – Solid #2 U.S. Issuer – Q4 Profits Plateau

Among the biggest bank credit card issuers in the U.S., Capital One (COF) continues to lead the way in every metric, except charge-offs. Based on fourth quarter (4Q/16) figures COF surpassed Bank of America (BAC) as the nation’s second largest issuer, by $5 billion, according to CardData. COF posted double digit year-on-year (YOY) gains in…

NFC, HCE, BLE, and QR Codes Driving Mobile Payments Globally

The global mobile wallet services market is expected to grow at a CAGR of 42% over the next five years due to the multiple functionalities they can offer both buyers as well as suppliers. A new report from Technavio,‘Global Mobile Wallet Services: Procurement Intelligence Report 2017-2021’ finds cost-saving opportunities can be leveraged if buyers have…

Airlines Profits Linked to Deployment of Robust Mobile Payment Solutions

Already accustomed to using smartphones to pay for everything from shared rides to in-app retail purchases, airline passengers are demanding access to the most popular digital wallet solutions and alternative payment methods (APMs) to meet their travel needs, such as Android Pay, Apple Pay, PayPal, MasterPass, Visa Checkout and Alipay. A new report from CellPoint…

Credit/Debit Card Payments Maintain Lion’s Share of All U.S. Consumer Payments

Purchases of goods and services totaled $9.550 trillion in 2015, up 3.4% year-on-year (YOY). The four card-based methods of payment of credit, debit, prepaid, and electronic benefits transfer generated $5.665 trillion in purchases or 59.32% of all consumer payment systems volume. Credit cards accounted for $2.932 billion, 30.70% of volume. Debit cards accounted for $2.420,…

GPN Heartland Merger Expense Synergies Pays-Off Big Time in Fourth Quarter

Atlanta-based Global Payments (GPN) reported fourth calendar quarter (4Q/16) [fiscal second quarter ending 11/30/16] gross revenues grew 30.4% year-on-year (YOY), while net income declined 37.2% YOY. Revenues for North America increased 16.1% YOY. GPN says the particularly strong performance was driven by the integrated payments businesses, OpenEdge and Ezidebit, and from its software led solutions…

Visa Sets U.S. PDV YOY Record as GAC/CIF YOY Hovers Near 10%

Visa’s U.S. payment card (credit+debit) purchase dollar volume (PDV), for the third quarter (3Q/16), logged its highest year-on-year (YOY) gain in more than three year. Even though the big Visa issuers struggle with stagnant growth in accounts (GAC) and cards-in-force (CIF), Visa continues to hover near double-digits YOY. Visa’s U.S. gross dollar volume (GDV) increased…