Purchase dollar volume (PDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) globally rose 20.0% year-on-year (YOY) on a nominal dollars basis for the fourth quarter (4Q/16). However, on a currency adjusted basis (FX), global 4Q/16 PDV increased 20.7% YOY, according to CardData. The fourth quarter PDV figures are skewed as Visa…
U.S. credit card outstandings end-of-period (EOP) among the Top 4 U.S. issuers gained 10.9% in the fourth quarter (4Q/16) year-on-year (YOY) to $417.2 billion, according to CardData. The gain was driven largely by Citibank as its acquisition of the Costco card portfolio from American Express has skyrocketed outstandings. BofA was unseated as the nation’s second…
A new report that reveals that small merchants are more concerned about value, and less concerned about price, when it comes to the fees that they pay for debit card transactions. The research by Javelin Strategy & Research and the Electronic Payments Coalition found small merchants want choice not price caps. Javelin says the Durbin…
Mobile order and pay ahead apps are taking off and finding rapid adoption by consumers accustomed to the convenience and instant gratification of the on-demand economy. A new ForeSight report from Mercator Advisory Group, Mobile Order and Pay Ahead: A New Sales Channel for Restaurants and Merchants, describes the new world of mobile order and…
The Financial Obligations Ratio (FOR) and the Debt Service Ratio (DSR) for the fourth quarter (4Q/16) edged downward and continue to hover at near record lows according to CardData. According to the Federal Reserve, on a seasonally adjusted basis, the FOR slipped downward to 15.40% in 4Q/16, compared to 15.41% in 3Q/16 and 15.40% in…
Delinquencies in bank cards (credit cards provided by banks) fell 5 basis points (bps) to 2.69% of all accounts, staying significantly below their 15-year average of 3.66%. However, delinquencies in closed-end loans (like auto and boat loans) rose. According to the American Bankers Association (ABA) among the 11 individual loan categories, delinquencies rose in all…