Cash transactions (CTX) for Visa and Mastercard U.S. credit and debit cards in the U.S. declined by 1.4% year-on-year (YOY) in the first quarter (1Q/17), according to CardData. U.S. 1Q/17 credit card cash transactions were down 0.4% YOY, as U.S. debit card CTX decreased 1.4% YOY. Visa’s 1Q/17 CTX for U.S. credit cards was flat…
The Big 6 issuers, based on U.S. total outstandings of $1000.9 billion, control 50.8% of the U.S. bank credit card business at the end of the first quarter (1Q/17), up 170 basis points (bps) from one-year ago. There has been clear shift among the peer group with Citibank snatching significant marketshare from the others, according to…
While data from many sources, including the Federal Reserve and CardData, show an upward trend in credit card late payments for the past five quarters, overall delinquencies rose in 7 of the 11 individual consumer loan categories tracked by the American Bankers Association (ABA). The ABA composite ratio, which tracks delinquencies in eight closed-end installment…
China’s UnionPay has been active in the construction of a bankcard switch network in Laos and Thailand, and will now participate in building a payment network in Tajikistan. In Tajikistan, UnionPay cards can be used at some ATMs and merchants. Over the past few years, the National Bank of Tajikistan has made unremitting efforts to…
Wirecard has launched boon with Apple Pay in Spain, as a result customers can now benefit from boon by Wirecard with Apple Pay in six European countries, including United Kingdom, France, Switzerland, Ireland and Italy. Boon is based on an automatic app-to-wallet integration via a prepaid account with a digital Mastercard, issued by Wirecard Card…
Yum China, with exclusive rights in mainland China to KFC, Pizza Hut, and Taco Bell, reports its loyalty program has set a milestone, mobile payments are sizzling, and delivery service is red hot. By the end of the second quarter, total members in our loyalty programs surpassed 100 million, including 83 million members for KFC and…