The charge-off rate, seasonally adjusted (SA), among the top 100 U.S. banks for the third quarter (3Q/16) increased 8 basis points (bps) sequentially (QTQ), and up 11 bps year-on-year (YOY). On a not seasonally adjusted basis (NSA), the charge-off rate among the top 100 U.S. banks for 2Q/16, dropped 26 bps QTQ and up 12…
U.K. consumer credit continued to expand at a brisk pace in October, topping 10% year-on-year (YOY). In October total consumer credit grew to £190.1 billion. The three-month annualized and twelve-month growth rates, seasonally adjusted (SA), were 10.6% and 10.5% respectively. The Bank of England (BOE) reports consumer credit increased by £1.6 billion in October, in…
The 30+ day delinquency rate, seasonally adjusted (SA), among the top 100 U.S. banks for the third quarter (3Q/16) increased 10 basis points (bps) sequentially (QTQ), and up 19 bps year-on-year (YOY). On a not seasonally adjusted basis (NSA), the delinquency rate among the top 100 U.S. banks for 3Q/16, soared 24 bps QTQ and…
UK-based cryptocurrency CLOAKCOIN is ready to take on the so-called anon coin market currently being dominated by the latecomers like Monero, ZCash, and others. There are also examples of many people abusing the anon coin market to turn it into an “easy come, easy go” market by creating Ponzi-like schemes around it. These fraudulent actions on…
The global mobile wallet market is expected to grow at a CAGR of more than 35% YOY by 2021. Among grocery stores the growth is expected to exceed 46% CAGR. According to Technavio in a report titled ‘Global Mobile Wallet Market 2017-2021’ the global mobile wallet market is broken up in five major application segments.…
Australian credit card outstandings rose by 1.6% year-on-year (YOY) in October. Credit card credit limits increased 2.3% YOY and the number of credit card accounts rose 2.6% YOY in October. The average balance per account in October declined 1.0% YOY to AU$3070, compared to AU$3074 for September, and AU$3102 for October 2015. Credit card outstandings for…
Among this year biggest payments innovations and product introductions is First Data’s new Clover Go “All-In-One” reader. It is the first fully integrated payment card reader that accepts payments via card swipes, EMV and NFC transactions (including Apple Pay, Android Pay & Samsung Pay) all through a single device. Beyond its convenient all-in-one functionality,…
Nationwide Biweekly Administration (Nationwide) has been allowed to move forward with its Operation Choke Point claims against the Consumer Financial Protection Bureau (CFPB). Operation Choke Point is a U. S. Department of Justice initiative meant to block access to payment systems by targeted businesses and shut them down without a court order. In an order…
UnionPay reports the official website of Turkish Airlines accepts UnionPay and the website of AirAsia support multi-currency payment with UnionPay cards. So far, 35 international airlines outside mainland China support online ticket booking with UnionPay cards, and many also provide exclusive offers for UnionPay cards. Recently, UnionPay International has reached cooperation with two more internationally…
U.S. consumer revolving credit, mostly credit card debt, hit the brakes in October, growing at an annual rate of +2.9%, compared to a revised +5.0% annual rate in September and a revised +6.9% annual rate in August. Overall consumer credit increased at a seasonally adjusted annual rate of +5.2% in October. Non-revolving credit increased at…
The Financial Obligations Ratio (FOR) and the Debt Service Ratio (DSR) for the third quarter (3Q/16) edged upward, but continue to hover at near record lows. According to the Federal Reserve, on a seasonally adjusted basis, the FOR slipped upward to 15.44% in 3Q/16, compared to 15.43% in 2Q/16 and 15.39% in 3Q/15. The DSR…
U.S. Purchase Dollar Volume (PDV) for Visa and MasterCard payment cards (credit + debit) in the third quarter (3Q/16) grew at an annual rate (YOY) of 8.6% YOY. U.S. Visa and MasterCard reported payment card PDV of $1093 billion for 3Q/16, compared to $1085 billion in the prior quarter, and $1006 billion in the year…