A new study has found more than half U.S. companies use siloed electronic bill presentment and payment (EBPP) systems that cost them more than $1 billion annually.
Citibank’s U.S. bank credit card profits rose 17% year-on-year (Y/Y) and retail credit card profits rose 15% Y/Y in the third quarter of 2014 (Q3/14). End of Period (EOP) bank credit card outstandings declined 3% Y/Y, while purchase dollar volume (PDV) rose 4% Y/Y.
Over the past five years global debit payment volume posted a 14% CAGR (Compound Annual Growth Rate), compared to a CAGR of 7% for global credit payment volume. A new report suggests the economic downturn along with the previously unbanked population contributed to the disparity.