Profits (after tax) among the nation’s big 6 U.S. credit card issuers declined 3.3% in the third quarter (3Q/15), compared to one year ago (YOY) but, rose 4.3% sequentially (QOQ).
U.S. Purchase Dollar Volume (PDV) for Visa and MasterCard (credit + debit) in the third quarter (3Q/15) grew at an annual rate (YOY) of 9.2%. Visa U.S. payment card (credit + debit) PDV for 3Q/15 was up 9.7%. MasterCard U.S. payment card (credit + debit) PDV for 3Q/15 was up 7.8%.
Bank credit card rates will begin to trickle upward next month in the wake of the Federal Open Market Committee (FOMA) decision to raise short-term rates by 25 basis points (bps). It is likely credit card rates in the first quarter will return to 2010 levels.
Verifone has added another gizmo to its mobile point-of-sale (mPOS) portfolio. The new Verifone e265 offers independent and micro merchants the flexibility to accept all major payment types and integrate with smart devices for value-added commerce capabilities.