Average early stage delinquency (30+ days) for the first quarter (1Q/17), among the nation’s Top 4 issuers, decreased 5 basis points (bps) sequentially, but rose year-on-year (YOY) by 24 bps, according to CardData. Citibank and Capital One posted small downticks in 1Q/17. Citi is skewed by its rapidly growing outstandings from the acquisition of the…
WI-based Fiserv gross revenue posted up mid single-digits year-on-year (YOY) in first quarter (1Q/17). However, net income declined, impacted by the previous sale of StoneRiver, and slightly rising expenses, according to CardData. Fiserv posted gross revenue of $1394 million for the first quarter, a 5.6% YOY gain, compared to $1431 million for the prior quarter,…
The number of new credit card accounts (those opened in the previous 24 months) rose to 88.1 million, driven in part by a 16% increase in new subprime accounts. Even with this increase, subprime accounts continue to comprise roughly one-fifth of total open accounts — equivalent to 2012 levels. According to the American Bankers Association’s…
More than half of U.S. consumers are interested in having their primary financial institution provide support for household budgeting such as setting a budget to meet their financial goals and tracking their progress toward meeting their goals. Mercator Advisory Group’s Consumers and Personal Finance: Don’t Overlook the Basics report finds young adults and business owners…
PayPal continues to gain market share as total payment volume (TPV) and total payment transactions (PTX) soared 22% year-on-year (YOY) in the first quarter (1Q/17). However, the transaction margin continues to slide for the fifth consecutive quarter, down 370 basis points (bps) YOY and down 100 bps from 4Q/16, according to CardData. PayPal crossed the…
The largest airline in Australia, Qantas Airways (QA) has inked a deal to enable customers to use UnionPay cards for flight bookings on Qantas website. The two sides also signed a Memorandum of Understanding (MOU) to expand the online acceptance of UnionPay cards to all Qantas flights and will collaborate in promotion campaigns. The latest…
Digital payment and e-commerce platform, KinerjaPay” has inked Indomaret and Alfamart, two of Indonesia’s largest convenience store chains, will now allow customers to make payments on any transaction performed inside KinerjaPay platform. KinerjaPay notes as the vast majority of our customers do not have bank accounts or credit cards, virtually all transactions are made with…
Vantiv has inked a deal to acquire Atlanta-based Paymetric for an undisclosed amount but set to close by June 30th, pending U.S. antitrust clearance. Paymetric automates B2B payment workflows within enterprise systems, including SAP, Oracle, Hybris, Salesforce and more. Paymetric also tokenizes payments data within these systems in order to enable secure storage of customer…