X-border transaction volume growth FX (currency adjusted) YOY (year-on-year) is driven solely by Mastercard. Second-quarter global cross-border transaction volume for Mastercard soared by 800 bps (basis points) over Visa. 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 Volume FX Visa’s cross-border…
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Global processed transactions (GTX), or switched transactions, in the second-quarter (2Q/19), for Visa and Mastercard combined, remains solidly in double-digits year-on-year (YOY), hovering above a 12% annual growth rate for six consecutive quarters. MasterCard posted more than a 600 bps (basis points) spread over Visa in 2Q/19 for global processed switched transactions. Combined Visa and…
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Global purchase transactions (PTX) for Visa and MasterCard debit and credit cards increased 15.0% year-on-year (YOY) in the second-quarter (2Q/19). The PTX YOY growth rate has been steadily expanding each quarter. One-year ago the PTX YOY growth rate for the second-quarter was 14.8%. In 1Q/17, the PTX YOY growth rate soared 28.3%, skewed by the merger…
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Second-quarter GDV (gross dollar volume) marketshare, including credit, debit, charge and prepaid card products, among the Major 4 payment networks shows Mastercard picking up 50 basis points (bps) over the past twelve months, mostly at the expense of Visa, in the U.S. market. Based on gross dollar volume, Visa’s U.S. marketshare peaked one-year ago at…
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Credit card accounts in the U.S. market slowed a tad in the second-quarter (2Q/19), by 80 basis points (bps), compared to the prior quarter. However, 2019 is shaping up to be the strongest year for expansion in the U.S. since 2015, despite exhibiting all the signs of saturation. Currently, the U.S. general purpose credit card…
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Second-quarter payment network profits among the global U.S.-based Major 4: Visa [V], Mastercard [MA], American Express [AXP] and Discover [DFS], soared 23.8% year-on-year (YOY), and now growing at an 12.80% CAGR (compound annual growth rate), based on the past five years. The Major 4 reported a combined second-quarter (2Q/19) (after tax) profit of $7663 million,…
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Second-quarter 90+ card delinquency climbed to its highest level in more than five years for a second-quarter, jumping 25 bps (basis points), signaling higher charge-offs in the near-term and possibly well into 2023. After hitting a seven-year record of 1.29% for the past two quarters, the late-stage delinquency rate seasonally nudged down by 11 bps…
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Global card PDV (purchase dollar volume) in the second-quarter (2Q/19) among the Major 4 U.S. payment networks continued to spiral down over the past year. On an FX (currency adjusted) basis, Major 4 global payment card (credit + charge + debit + prepaid) PDV declined from a 12.8% YOY (year-on-year) FX gain for 2Q/18 to…
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U.S. credit card delinquency among the Top 100 U.S. issuing banks in the second-quarter edged down 2 basis points (bps) sequentially, and up 8 bps YOY (year-on-year). Nonetheless, the seasonally adjusted (SA) delinquency ratio is the highest since the first-quarter of 2013, according to the Federal Reserve. Second-quarter card delinquency among the nation’s Top 4…
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Consumer credit card losses, or charge-offs, among the Top 100 U.S. banks, are continuing to rise to levels for a second-quarter not seen since 2013. Meanwhile, delinquency, the precursor of charge-offs, is also hovering at six-year highs. The trends are concerning to card issuers as it adds more evidence the U.S. economy is headed into…
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Second-quarter credit CIF (cards-in-force) continue to grow despite a saturated U.S. market driven by an expanding sub-prime marketplace and the aggressive marketing of high-end rewards cards. Over the past year, the total CIF is up by more nearly 24 million, and growing more 300 basis points (bps) over the prior twelve-month period. Mastercard is blowing…
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U.S. card yield, as an average for the nation’s Top 4 issuers, remained at record levels in the second-quarter despite a small downtick sequentially. All of the issuers posted lower yields in the second-quarter from the prior quarter. However, this is fourth consecutive quarter wherein all of the Top 4 exceeded 10%. The U.S. Top…
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