Discover Stays the Course Limited to Single Digit Growth

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] While not exploding, Discover’s (DFS) credit card portfolio continues to stay in positive territory. Year-on-year (YOY) growth in the first quarter (1Q/16) was limited to single digits, but charge-offs (CO) headed higher due to the historical seasonal impact of a first quarter. Discover’s total revenue rose 2.4% YOY to $2224 million,…

AmEx Global: US Card +5% YOY; International +8% FX YOY

AmEx Global: US Card +5% YOY; International +8% FX YOY

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] AmEx reported 1Q/16 gross revenue for its U.S. card business (USCS) rose 3.0% YOY to $3280 million, while net income increased 5.0% YOY to $694 million. Gross revenue for the AmEx international card business (ICNS) declined slightly (-1.0%) YOY, or +8.0% currency adjusted (FX), to $1313 million and net income slipped…

Digital PC Gaming Market Revenue Develops to $26B

Digital PC Gaming Market Revenue Develops to $26B

A webinar and a new report, set for May 4 will explore how games publishers can improve monetization techniques and ultimately drive additional revenue. The new report provides insights into checkout best practices, gamer payment preferences and payment security sensitivities, among other topics. According to Digital River’s “Best Practices: User Conversion, Payment Flows & In-Game…

BRIEFS – JDPOWER; PERK; SCORECEO; and FCFS

In Other News: JDPOWER (survey); PERK (apps); SCORECEO (dashboard); and FCFS (merger). JDPOWER – Big banks have significantly improved in overall customer satisfaction, while Midsize banks have declined and Regional banks have plateaued, according to the J.D. Power 2016 U.S. Retail Banking Satisfaction Study. Satisfaction with Big banks rises for the sixth consecutive year, driven by…

Canada’s Peoples Trust Lands 3 Awards for Prepaid

Canada’s Peoples Trust Lands 3 Awards for Prepaid

Payments eXchange has picked Peoples Trust as the ‘Leading Prepaid Organization’ in Canada, and honored Peoples Card Services’ president, Peter Read, as ‘Industry Person of the Year’. The Company, along with InComm and National Money Mart Company, was also recognized at the annual awards event, for the Titanium+ Prepaid MasterCard®, which took the ‘Best Consumer-Funded…

Bank Tellers Are Only Preferred for Big Check ($1K+) Deposits

Bank Tellers Are Only Preferred for Big Check ($1K+) Deposits

A new study finds U.S. consumers’ preference for depositing checks by teller continues to decline even for higher-value checks. Mercator Advisory Group’s most recent Insight Report, Self-Service, ATM, and Other Channel Banking: Expand My Options, reveals even though tellers remain the preferred method for a $1,000 check deposit, this preference has declined steadily from a…

Wells Fargo Delivers Above Peer Group PDV Gains; Outstandings Remain Strong

Wells Fargo Delivers Above Peer Group PDV Gains; Outstandings Remain Strong

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Wells Fargo first quarter (1Q/16) consumer credit card purchase dollar volume (PDV) soared 13.6% year-on-year (YOY) as purchase transactions (PTX) rose by 11.2%. Active mobile users of Wells Fargo surged 18.8% YOY. Average consumer credit card 1Q/16 outstandings grew 9.6% YOY to $33.1 billion, compared to $34.0 billion for 4Q/15 and $30.1…

MC Joins Visa in the Need for Speed with New M/Chip Fast

MC Joins Visa in the Need for Speed with New M/Chip Fast

To beef up its existing technology to help speed EMV transactions and shoppers through checkout lines, MasterCard has unveiled M/Chip Fast. Developed on the principles of contactless or ‘tap-and-go’ technology, M/Chip Fast effectively prioritizes the parts of transactions that are critical to security. MasterCard says cardholders can expect to experience speeds closer to the familiar…

Citi N.A. Card Income Falls; OUT & PDV Up; Metrics Stable

Citi N.A. Card Income Falls; OUT & PDV Up; Metrics Stable

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Citibank North America branded credit card revenues declined 6.4% and income sank 32.1% year-on-year (YOY) in the first quarter (1Q/16). Citi indicated the higher cost of credit and rewards funding as a factor. Compared to its peer group, the Citi card portfolio was stable with outstandings (OUT) up slightly and purchase…

Diners Club to Get e-Supercharged via Computop

Diners Club to Get e-Supercharged via Computop

Discover’s Diners Club International has inked a deal with Germany’s Computop to increase e-commerce acceptance for Discover, Diners Club and Alliance Partner cards. This agreement is part of Discover Global Network’s ongoing effort to increase global acceptance, both online and in-store, through partnerships with leading payment service providers. By working with Computop, all cards running…

China’s UnionPay Issues its First U.S. Credit Card

China’s UnionPay Issues its First U.S. Credit Card

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] UnionPay International and Industrial and Commercial Bank of China US (ICBC US) have issued the first UnionPay credit card in New York. It’s both the first UnionPay credit card issued in the US market and the first credit card issued by a Chinese commercial bank in the US. UnionPay and ICBC…