The average charge-off ratio among the nation’s four largest issuers increased 12 basis points (bps) quarter-to-quarter (QOQ) to 3.09% in the first quarter (Q1/15). The top 100 U.S. banks posted a 10 bps increase QOQ to 3.07%, according to CardData.
Purchase Dollar Volume (PDV) for Visa, MasterCard, Discover and American Express U.S. credit cards is expected to reach $4.2 trillion annually by year-end 2019. According to forecaster RAM Research, the U.S. PDV for the U.S. credit card industry is growing at a CAGR of 9.99%.
MasterCard is gobbling up a top cloud-based analytics provider for $600 million. The acquisition of Applied Predictive Technologies (APT) follows the recent acquisition of 5One, a London-based retail consulting and analytics firm.
The average U.S. 30+ day delinquency rate among the nation’s four largest issuers declined 11 basis points (bps) sequentially, to a record low of 1.96% for the first quarter, compared to 2.07% in the prior quarter and 2.16% one-year ago. The top 100 U.S. banks posted a 27 bps decline from 1Q/14.
Over the past two years mobile transactions at Starbucks have doubled from 4 million transactions per week in Q1/13 to 8 million transactions in Q1/15. The number of mobile transactions has significantly soared since the second quarter of 2014 and set to soar higher as Mobile Order & Pay expands this year.
Online retail sales in the US are expected to hit $480 billion by 2019 growing by compound annual growth rate (CAGR) of 10%. Categories once trailing behind in online sales, like furniture and auto parts, will likely have compound annual growth rates of 15% and 11%, respectively,
The FreedomPay Commerce Platform has approved more devices for its PCI Validated P2PE solution with EMV and NFC ready payment terminals. Ingenico join devices from Oracle|MICROS, Agilysys, Revel Systems, Digital Dining, and Nextep Systems.
Moderate percentage point gains in consumer smartwatch adoption can be expected over the next year if the Apple Watch follows historical patterns. It has been widely estimated Apple will ship 15 million Apple Watch devices its first year on the market.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Carl J. Williams, Chairman, President and Chief Executive Officer of Planet Payment.
CardWeb.com’s CardConferences today features the mPOS WORLD CONFERENCE, June 30-July 1, 2015 in Frankfurt, Germany.
CardWeb.com’s CardData database of Company Profiles today features PayCube, a specialist in domain driven software development and delivery.
CardWeb.com’s CardPixes database of more than 7,000 images today features the Citibank AT&T Access More Card.