Proprietary Report with Analysis on U.S. Bank U.S. Credit Card Company Performance.
U.S. Bank (USB)’s Payment Services division reported solid growth in gross dollar volume (GDV) as well as credit and debit fee revenue for the first quarter (1Q/17). However, rapidly rising charge-offs depressed credit card income, according to CardData.
Acquiring volume continued to decline for the fourth consecutive quarter.
USB’s Payment Services includes consumer and business credit cards, stored-value cards, debit cards, corporate, government and purchasing card services, consumer lines of credit and merchant processing.
Total revenues for USB Payment Services in 1Q/17 increased . . . .