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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Third-quarter card loan growth, among the Top 4 U.S. issuers, grew a solid 4.3% year-on-year (YOY), compared to 2.6% YOY in the prior quarter, and compared to 2.8% YOY one-year ago. Among the nation’s Top 4 credit card issuers (Chase [JPM], Capital One [COF], Bank of America [BAC], and Citibank [C]), the annual growth rate…
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Q3 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 nearly 21 million, and growing more 300 basis points (bps) over the prior twelve-month period. Mastercard continues to blow…
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Fintech disrupters innovators will draw more than 6,000 members of the fintech community to Fintech Connect for a major event slated in London. Scheduled for December 3rd to 4th, the FinTech Connect event will be held at the Excel. Among the featured speakers is Lisa Frazier, head of Wells Fargo’s Innovation Group since 2018. About…
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U.S. card yield, as an average for the nation’s Top 4 issuers, remained at record levels in the third-quarter posting a small uptick sequentially. All of the issuers, except Chase, posted higher yields in the third-quarter from the prior quarter. However, this is fourth consecutive quarter wherein all of the Top 4 exceeded 10%. The…
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Global card PDV (purchase dollar volume) in the third-quarter (3Q/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 12.5% YOY (year-on-year) FX gain for 3Q/18 to…
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Third-quarter card charge-offs among the Top 4 U.S. bank credit card dropped sharply from the prior quarter, a historical pattern, but up slightly from one-year ago, remaining the highest for a third-quarter in seven years. Credit card charge-offs among the nation’s Top 4 credit card issuers decreased 36 bps (basis points) sequentially in the third-quarter…
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Third-quarter U.S. credit card volume, among the Major 4 payment networks (Visa [V], Mastercard [MA], American Express [AXP], and Discover [DFS]), lost momentum, growing 8% year-on-year (YOY), compared to a 10% YOY gain for the year ago quarter. The erosion in spending is further evidence of a slowing economy. The Major 4 reported $1039 billion…
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Global fintech is exploding and will likely continue to expand its market size by a compound annual growth rate (CAGR) of more than 80% over the next five years. It is projected, by multiple services and RAM Research, the global fintech market will rake in more than US$8 billion annually by 2024. The demand for…
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“Innovation,” the buzzword for payment gatherings this fall as Money2020 opens in Las Vegas, and with the MoneyLIVE set for November in London as well as Bank Innovation Build slated for early November in Atlanta. Bank Innovation Build, to the held at the W Atlanta downtown next month, will explore the “how” of banking innovation…
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Third-quarter card delinquency, among the nation’s top four credit card issuers, continued to march upward, now hovering at levels not seen in seven years. It is the highest level for a third-quarter since 2013 and rose significantly from the prior quarter. Noteworthy is the fact all four of the nation’s top bank credit card issuers…
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The Money Revolution, Money20/20, is the “magnet of magnets” of events for the payments industry and it gets underway next week. Billed as the doorway to the epicenter of the payments, banking, fintech and financial services ecosystem, this year’s theme is Journey to the Future of Money. Featured in PYVNTS, the four day Money 20/20…
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