American consumers hit the brakes in October on credit card debt as revolving credit increased at an annual rate of 0.25%, compared to 5.8% in the second quarter, and 8.7% in the first quarter.
U.S. Gross Dollar Volume (GDV) for Visa and MasterCard (credit + debit) in the third quarter (3Q/15) grew at an annual rate (YOY) of 8.4%.
Gross dollar volume (GDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) globally fell 1% year-on-year on a nominal dollars basis. However, on a currency adjusted basis (FX) global GDV for the third quarter increased 10.7% YOY.
Mumbai-based Axis Bank has introduced a display variant of its debit card for its NRE customers. The Platinum MasterCard Debit is the first display card in India.
Clip, empowering merchants to accept all payment methods in Mexico has snagged another US$8 million in funding.
Square reported total revenue of $892.8 million for the nine month period ending with the close of the third quarter (3Q/15), a 49% year-on-year (YOY) increase over the same period in 2014.
Discover Financial Services (DFS) has landed on Barron’s “Top Ten Stock Picks for 2016.” A “steady grower,” DFS replaces “sprawling” Bank of America (BAC).
Gemalto, Orange, RATP and SNCF have formed a joint venture dedicated to developing contactless mobility solutions.
Wizway Solutions is supported by France’s Ministry for the Economy, Industry and Digital Affairs and Ministry for Transport.
A new report found American consumers have avoided more than $9 billion in over-limit fees and saved more than $7 billion in late fees since the implementation of the Credit Card Accountability Responsibility and Disclosure Act (CARD Act).
CardFlash News Briefs: CFSI (study); XPRESSBUY (Visa); ACI (TransferWise); and INTELLICHECK (deal).