Card fee income decreased for the third consecutive year in 2019, while interchange income posted strong a double-digit gain. The decline for 2019 was directly attributable to reduced penalty fees (mostly late payments fees) and lower cash advance fees, driven by a robust economy with low unemployment and fairly stable consumer sentiment, according to CardData. Income from…
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AR, VR & music are on the menu for 2020 courtesy of Mastercard while Visa ponies up $5 billion for a hot fintech consumer app. Interest in biometrics for payment cards may emerge this year after a sleepy 2019. The IRS has crypto-to-crypto transactions on the radar this tax season, according to Bankcenter and CardBuzz.…
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Credit card ROA (pre-tax return on assets) for 2019 is estimated to rise to 4.80%, compared to 4.60% for the prior year, and compared to 4.45% for 2017. In 1987 pre-tax ROA peaked at 5.00% and bottomed at 1.50% in 2009. According to R.K. Hammer, credit card portfolio evaluation and sales experts, total revenue increased…
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Omnichannel retail is one the top revolutionary developments in the payments sphere today. Within the next two decades there will be 80 billion connected devices. That includes the devices we carry in our pockets and bags as well as all of the devices we use in our workplaces and homes and literally every other place…
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B2B market in Japan is ripe for development as it begins to tap into modern online payment methods. In the U.S., personalization is becoming a bigger part of overall B2B performance. In 2019, data breach was most hurtful to Capital One branding, blockchain platform Nuls was hacked, and Mastercard and RiskRecon team for all out…
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Payment earnings reports for the nation’s top credit card issuers, global payments networks and supporting businesses gets underway before the market opens on Tuesday, January 14th. First out of the shoot is Chase (JPM), Citibank (C) and Wells Fargo (WFS), according to CardData and PYRPTS. U.S. Bank (USB) and Bank of America (BAC) are scheduled…
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X-Border transaction volume growth FX (currency adjusted) YOY (year-on-year) is driven solely by Mastercard. Third-quarter global cross-border transaction volume for Mastercard has consistently outpaced Visa more than double for the past two years. Cross-border transaction (X-Border) volume refers to payments and cash volume where the issuing country is different from the merchant country. X-Border Transaction…
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Artificial intelligence (AI) virtual assistants take over credit card services and wearable payments begin to blossom along with digital personal identification technology. But AI is capable of reflecting creator biases as part of the learning process, reports CardBuzz. Credit card issuers are still playing it safe in risk management as some metrics raise red flags…
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Global cards from the four U.S.-based payment card networks expanded by 286 million credit and debit cards-in-force (CIF), over the past twelve months. Visa [V], Mastercard [MA], American Express [AXP], and Discover/Diners [DFS], global payment cards, including credit, charge, debit and prepaid products, grew 5.2% year-on-year (YOY) in the third-quarter (3Q/19). Growth has been eroding…
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Credit card profits (after tax) among the nation’s Top 4 bank credit card issuers shriveled by 4.2% YOY (year-on-year) in the third-quarter (3Q/19), compared to 44.0% one-year ago. The surge in 2018 was directly related to the corporate tax cuts. Profits (after tax) among the nation’s Top 4 U.S. credit card issuers (Chase [JPM]; Capital…
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Top card issuer marketshare, based on U.S. purchase dollar volume (PDV) of Visa [V], Mastercard [MA], American Express [AXP] and Discover [DFS], increased 30 bps (basis points) in the third-quarter (3Q/19). Chase, the nation’s largest credit card issuer on outstandings and the fastest growing issuer, based on PDV at 19% YOY (year-on-year), led the Top…
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The Fintech digital crème de la crème waltzes into Paris next month. The Paris Fintech Forum will draw more than 2,700 members of the financial technology community from more than 75 countries. The annual event is set for January 28 and 29 at the Palais Brongniart (the former home of the French Stock Market Exchange).…
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