The 30+ day delinquency rate, seasonally adjusted (SA), among the top 100 U.S. banks for the first quarter (1Q/16) decreased 3 basis points (bps) sequentially (QTQ), but up 6 bps year-on-year (YOY). On a not seasonally adjusted basis (NSA), the delinquency rate among the top 100 U.S. banks for 1Q/16, declined 7 bps QTQ and…
In Other News: PYMNTS (awards); ELAVON (ariane); EMAZZANTI (ranking); and AMEX (LGBTQ). PYMNTS – The winners of the 2016 PYMNTS/Alexa Challenge include Visa and USAA. There were 12 teams and 14 companies in a five-week competition to use Alexa and her voice-activated technology to reimagine how consumers interact with their payments and financial services solutions…
Citing several difficult market dynamics in the second quarter, Verifone is reviewing underperforming businesses and launching a headcount restructuring. Verifone reported second quarter (2Q/16) net income nose-dived more than 80% year-on-year (YOY), with most of the growth coming from the North America segment. The recent InterCard and AJB Software Design acquisitions will likely lift 2Q/16.…
Accela has unveiled CivicPay on the Accela Civic Platform, enabling citizens to make payments to government agencies online in real-time. CivicPay offers residents an easier way to make payments anytime, from anywhere, and allows agencies to securely automate the process. CivicPay’s system addresses the pain points associated with traditionally time-consuming and difficult payment reconciliation processes…
Citi confirms it has successfully completed the acquisition and conversion of Costco’s U.S. co-brand credit card portfolio from American Express. Citi acquired in excess of $10.5 billion of credit card receivables. The new Costco Anywhere Visa Card by Citi and Costco Anywhere Visa Business Card by Citi are available exclusively to Costco members. The long-term…
Australian credit card outstandings edged up by 1.4% year-on-year (YOY) in April. Credit card credit limits increased 3.3% YOY and the number of credit card accounts rose 2.8% YOY. The average balance per account in April declined 1.4% YOY to AU$3149, compared to AU$3157 for March, and AU$3194 for April 2015. Credit card outstandings for April…
It’s official: Visa and Visa Europe are one big happy family with one big brand. Visa completed its acquisition of Visa Europe Ltd. Visa also named Gary Hoffman, CEO of Hastings Group, as a Board member of Visa Inc. He is currently a director and Chairman of Visa Europe Limited. The combined company will produce…
Gross dollar volume (GDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) globally increased 4.2% year-on-year (YOY) on a nominal dollars basis, for the first quarter (1Q/16). However, on a currency adjusted basis (FX) global GDV for the first quarter increased 10.6% YOY. The major four networks posted $3228 billion in global…
When it comes to mobile payments, Mexico, the second-largest mobile market in Latin America after Brazil, is ready for reaping. At the end of last year there were 88 million unique mobile subscribers, or 69% of the population in Mexico. There were 104 million total mobile connections, with smartphones making up half. A new report…