U.K. consumer credit took a sharp turn north in February, despite the Brexit uncertainty, rising to its highest annual growth rate of the past twelve months. The year-on-year (YOY) rise jumped 260 basis points (bps) 20 in February. In February total consumer credit grew to £196.0 billion. The three-month annualized and twelve-month growth rates, seasonally…
Australian credit card gross dollar volume (GDV) soared 12.6% year-on-year (YOY) in January. Purchase dollar volume (PDV) sharply increased 13.0% YOY and cash dollar volume (CDV) inched up by 2.4% YOY in January, according to CardData. There had been growing concerns in 2016 credit card spending was slowing down, however the momentum has shifted. GDV…
B2B payments specialist Viewpost has inked a major partnership with Visa to bring electronic business payments to Viewpost’s small to medium-sized business clients (SMBs). By using Visa virtual commercial cards through their participating financial institutions, SMBs will increase automation, convenience and security for their B2B transactions. Viewpost’s SMB customers will be able to benefit from…
Mastercard has inked an agreement to acquire NuData Security, a global technology company helping businesses prevent online and mobile fraud using session and biometric indicators. The Internet of Things is creating a more digitally-driven and digitally-connected world, with an estimated 50 billion smart devices to be in use across the globe by 2020. While such…
New analysis reveals Prime and Super Prime card accounts need greater than 13.0% in “Risk-Adjusted” Revenue (RAR), as a percentage of managed outstandings. Moderate results fall into the 12% -13% range. Worst case results fall into less than 12% for “Risk-Adjusted” Revenue. In his latest report R.K. Hammer shows the variance between “Total” card industry…
India’s MoneyOnMobile has inked a Bill Collection Agreement with BSES Yamuna Power, to enable 1.6 million customers the ability to pay their electricity bills through any of MoneyOnMobile’s 330,000 retail outlets or through MoneyOnMobile’s mobile wallet app. BSES Yamuna Power supplies electricity in Central and East Delhi, the capital of India, covering an area of approximately 200…