U.S. bank credit card active accounts (accounts with sales activity), among the top four U.S. issuers, notched up 0.6% year-on-year (YOY) and sequentially in the third quarter.
After a haircut in its IPO earlier this week, to $9.00 per share, Square’s first day of trading yesterday soared more than 60%, closing at $13.07. It was expected to price in the $11 to $13 range but there has been growing skepticism among institutional investors in regard to tech unicorns.
Five interconnected forces are set to disrupt retail, presenting retailers with powerful challenges and opportunities. Economic, demographic, technology, urban and consumer forces are combining to create new markets, transform consumer expectations and reshape the rules of retail.
U.S. Millennials (aged 16-30) are the most likely to adopt new buying methods such as mobile payments with 9% of U.S. millennials using mobile payment applications daily.
The average late stage U.S. credit card delinquency (90+ day) among the nation’s top four issuers increased six basis points (bps) sequentially, to 0.98% for the third quarter, compared to 0.92% in the prior quarter and 0.98% one-year ago. However, all the issuers, except Capital One, were down year-on-year (YOY), according to CardData.
The national VantageScore credit score is up by three points, from 666 to 669. Bankcard lending continues to increase, with new bankcards up 7.7%.
Merchants continue to fail in delivering a seamless and localized ecommerce experience to shoppers outside their own country- a dangerous choice when 20% of all online shoppers currently come from foreign IP addresses, which is estimated to become 45% of all online shoppers by 2020.
New research shows criminals are becoming more creative where, when and how they take advantage of the season, as the number of fraudulent purchases increases proportionately when sales peak during the holidays.
About a third of Americans say they either exclusively make holiday season purchases using credit cards (15%) or that they make more purchases on credit than they do using cash or debit cards (17%). Thirteen percent (13%) use each in equal measure, while roughly half (49%) say they use cash/debit either predominately (20%) or exclusively (29%).
Despite, the lowest levels of delinquencies and net charge-offs, US credit card asset quality are expected to weaken modestly in 2016. The slowdown in asset quality improvement does not signal material credit deterioration over the near to intermediate term, but portfolio seasoning and recent growth will also weigh more heavily on credit quality metrics in 2016.
CardFlash News Briefs: TSYS (CQM); HEARTLAND (LiquorPOS); MEMBER SOLUTIONS (PCI-DSS); and CARDFLIGHT (TSYS).
Barclaycard has unveiled the launch of its unlimited cash rewards credit card, the Barclaycard CashForward World MasterCard. Cardholders earn unlimited 1.5% cash rewards on every purchase and a 5% redemption bonus to use toward their next redemption every time they redeem.