While Visa continues to control 70% of the U.S. general purpose debit card market, MasterCard is outpacing Visa in year-on-year (YOY) growth, based on gross dollar volume (GDV), according to CardData. Forecaster RAM Research expects the U.S. V+M market to reach $2575 billion for 2015.
American Express U.S. credit card outstandings are growing by 7.3% year-on-year (YOY) and likely to top $67 billion in the fourth quarter. U.S. Card Services reported first-quarter net income of $934 million, up 7% from $876 million a year ago, according to CardData
The primary second quarter earnings season for payment card industry gets underway on July 14, before the market open, with reports from Chase and Wells Fargo, according to CardData. Visa is slated to report July 23rd after the market close, while MasterCard will release on July 29 before the market open.
One of the nation’s largest commercial card issuer is expected to report $17.8 billion in outstandings and $16.8 billion in purchase dollar volume (PDV) for the second quarter, according to RAM Research. CardData reports U.S. Bank posted an 6.3% year-on-year (YOY) increase in purchase dollar volume (PDV) in the first quarter (Q1/15).