In Other News: CMS (investors); CA (Nationwide); VANCO (ACS); and GREEN DOT (Board). CMS – A group of investors including GCP Capital Partners, Western Heritage Capital, and Performance Equity Management have acquired a significant stake in Complete Merchant Solutions, a provider of merchant acquisition services, credit card/debit card transaction processing services, and payment solutions. Terms…
U.S. Credit Cards-in-Force (CIF) among the Big 6 issuers were up 1.7% year-on-year (YOY) at the end of the fourth quarter, up 5.9 million cards to 354.3 million cards. Capital One posted the largest gain, followed by American Express and Discover. The other three showed flat growth or a contraction in their card base. Chase…
Corporate payment solutions provider, WEX, has introduced a new mobile app enabling business managers access to their account information anytime and anywhere. Fleet SmartHub also helps improve efficiencies, reduce late fees, gain valuable insights and control unauthorized driver spending. The first-of-its-kind mobile app, SmartHub provides convenient, real-time access to features that allow fleet managers the…
Infinite Peripherals’ new DPP-255 mobile printer hits the market offering a high-speed receipt plus label printer. This MFi-certified compact unit has a print speed of 100mm/s, and supports iOS, Android and Windows. Among the fastest mobile printers in its class, the DPP-255 supports the iPad®, iPhone and iPod touch, along with devices running Android and…
Cuallix, a credit card and prepaid card issuer in Mexico, is issuing the first UnionPay card in the market over the next three months. China is the second largest trade partner of Mexico, and the two countries have established a comprehensive strategic partnership of cooperation. With the enhancement of personnel exchange between China and Mexico,…
Gross dollar volume (GDV) for licensees of Discover-owned Diners Club International declined 2.5% year-on-year (YOY) in the fourth quarter (4Q/15) to $6.76 billion. The rate was down slightly from the third quarter’s 3.0% declined. Over the past five quarters Diners GDV ranged between $6.47 billion and $6.76 billion. After peaking at $7.2 billion in 4Q/12,…
Visa and MasterCard international gross (open) payment card accounts (GAC) for the fourth quarter (4Q/15) grew 9.7% year-on-year (YOY). International credit GAC was up 3.5% YOY and international debit GAC soared 13.9% in 4Q/15. Totally Visa and MasterCard reported 2701 million payment card GACs for 4Q/15, compared to 2607 million for the prior quarter and…
Profits (after tax) among the nation’s top four bank credit card issuers rose 3.4% in the fourth quarter (4Q/15), compared to one year ago (YOY), but down 0.3% sequentially (QTQ). Aggregate card after tax profits for the top four issuers logged in at $2826 million for 4Q/15, compared to $2834 million in 3Q/15 and $2734…
Australian credit card outstandings edged up by 1.6% year-on-year (YOY) in February. Credit card credit limits increased 3.3% YOY and the number of credit card accounts rose 2.9% YOY. The average balance per account in February declined 1.7% to AU$3166, compared to AU$3106 for January, and AU$3222 for February 2015. Credit card outstandings for February hit…
The Big 6 issuers, based on U.S. total outstandings of $938 billion, continue to control 51.8% of the U.S. bank credit card business at the end of the fourth quarter (4Q/15). The big gainer among the Big 6 was Capital One, up 50 basis points (bps) quarter-to-quarter (QTQ), while the big loser was American Express…
Visa and MasterCard international card cash dollar volume (CDV) for the fourth quarter (4Q/15) posted $720 billion, compared to $709 billion in 3Q/15 and $798 billion one-year ago. However, the nominal year-on-year (YOY) change is meaningless. On a currency adjusted (FX) basis, for 4Q/15, CDV for Visa international credit cards have been declining steadily, down…