The Top 50 U.S. Visa and MasterCard credit card issuers captured a 92% market share of 2014 U.S. Purchase Dollar Volume (PDV). The powerhouse Top 10 grabbed 83% of American consumer and business Visa and MasterCard purchases last year, according to CardData.
Late stage delinquency among the nation’s Big 6 issuers will be pushed higher in 2015 as 30 day to 89 day delinquency begins its climb in the first quarter. Forecaster RAM Research projects 90+ day delinquency among the Big 6 will inch up from an average of 99 basis points (bps) in Q4/14 to 105 bps by end-of-year (EOY) 2015.
Among Visa’s four international regions the hottest area is Central Europe Middle East Africa (CEMEA), posting a 32.5% year-on-year (YOY) surge in 2014 purchase transactions (PTX). CEMEA also reported a 13.9% increase in purchase dollar volume, leading the other regions by more than 400 basis points (bps) last year.
Online and mobile payments worldwide may reach three trillion Euros by 2018, with m-payments outpacing e-payments and the total payments market. The Asia-Pacific region, particularly China, is expected to overtake North America to be the largest online retail market within a few years.
A general purpose prepaid card with employee spend controls for business owners has entered the U.S. market. San Francisco startup Bento for Business is now offering a prepaid commercial MasterCard.
As expected the Consumer Financial Protection Bureau (CFPB) posse is circling the wagons of the payday loan industry. The CFPB says this week its mission is to end payday debt traps by requiring lenders to take steps to make sure consumers can repay their loans and not make loans on purely on the ability to collect from consumers.
Vending machines to sell Prepaid SIM cards for short-term business travelers and tourists have been rolled out in two locations in Japan, namely AQUA CITY ODAIBA and New Kansai International Airport.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Ron Casciano, President and Chief Executive Officer for PAR Technology Corporation.
Next week FIS will become the first provider to offer fingerprint access to its Cardless Cash ATM application when it allows fingerprint authentication. The FIS One-touch CardLess Cash is revolutionary in the U.S. market.
While payment products are quickly penetrating African consumer markets they are primarily used for income dispensing by not for payments. South Africa, Nigeria, Tanzania, Uganda and Egypt have advanced in enabling access to and driving usage of different financial products including payments, lending, long-term savings or investments, and insurance.
Standing joke: Got a heartbeat and a phone and hopefully a job? – you can likely qualify for a store credit card. The largest provider of private label credit cards in the U.S. is enabling consumers to complete a card application from with a mobile phone.
In today’s CardFlash News Que: FORTER (CNP); ACCULYNK (PaySecure); BBVA (Award); and POWA (Banq POS).