Global Payment Cards (V+MA+AXP+DFS) Tops 5 Billion Up 6% YOY

Global payment cards-in force (CIF) [credit + debit] grew by 19.2% year-on-year (YOY) in the fourth quarter (4Q/16) to 4995 million. However, the figure for 4Q/16 includes 554 million for Visa Europe. (Visa added Visa Europe data as of 3Q/16.) Therefore, discounting Europe, the growth in global CIF was 6.0% YOY, adjusted, according to CardData.…

EMV Boom Ends – Verifone Looks to Become Device + Services Provider

The slowdown in EMV continues to drag on Verifone’s performance for the first fiscal quarter, ended 1/31/17, (1Q/17). However, the Company notes this year it will launch the next generation devices and services. By scaling these new devices and connecting them with Verifone’s expanded services, the Company hopes it will establish platforms powering the future of…

What is Behind the Recent Upticks in Bank Credit Card Delinquency & Charge-Offs?

There are growing concerns in the U.S. bank credit card market regarding the 2017 outlook for delinquencies and charge-offs. All the Top 4 issuers (Chase, Capital One, Bank of America and Citibank) reported slight upticks in the fourth quarter in both metrics. The Top 100 banks reported the seasonally adjusted (SA) credit card charge-off ratio…

Major 4 Network Adjusted PDV Up 6.5% YOY FX in Fourth Quarter

Purchase dollar volume (PDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) globally rose 20.0% year-on-year (YOY) on a nominal dollars basis for the fourth quarter (4Q/16). However, on a currency adjusted basis (FX), global 4Q/16 PDV increased 20.7% YOY, according to CardData. The fourth quarter PDV figures are skewed as Visa…

Major U.S. Issuer Outstandings Up Double-Digits Thanks to American Express & Costco

U.S. credit card outstandings end-of-period (EOP) among the Top 4 U.S.  issuers gained 10.9% in the fourth quarter (4Q/16) year-on-year (YOY) to $417.2 billion, according to CardData. The gain was driven largely by Citibank as its acquisition of the Costco card portfolio from American Express has skyrocketed outstandings. BofA was unseated as the nation’s second…