U.S. credit card GDV (gross dollar volume) for Visa [V], Mastercard [MA], American Express [AXP], and Discover [DFS] in the first-quarter 2019, declined to a 7.0% year-on-year (YOY) gain, compared to 9.8% one-year ago, a 9.4% YOY gain in 1Q/17 and an 8.6% jump in 1Q/16.
NEW REPORT from CardData reports $932 billion in gross dollar volume (GDV) for 1Q/19, compared to $1007 billion for the prior quarter, and $871 billion for 1Q/18. First quarter GDV (purchases + cash advances) is now growing at an annual compound growth rate (CAGR) of 8.76% since 2014. Mastercard posted the strongest growth in first-quarter U.S. credit card volume.
The new CardData report notes first-quarter YOY growth rate slowed by 280 basis points (bps), reflecting the aberrant first three months of 2019 wherein the impact of widespread bad weather, a lingering government shutdown and Wall Street recessionary concerns (based on an inverted yield curve), plus depressed consumer and business spending kicked-in.
The new CardData report notes the percentage of consumers expecting business conditions will be better six months from now increased from 17.2% to 19.9%. The proportion expecting more jobs in the months ahead increased from 16.8% to 17.2%, while those anticipating fewer jobs decreased from 14.3% to 13.2%.
The quarterly CardData report presents six charts and 102 data points for 2015 through first-quarter 2019 and projections through 2025.
PYRPTS manages over 500 payments research reports published within the last 12 months covering domestic, international and global markets.
PYRPTS areas of interest include: acquiring; alternative payments; artificial intelligence; biometrics; blockchain; card printing; charge cards; commercial cards; consumer credit; credit cards; cryptocurrency; debit cards; digital payments; EMV; financial cards; FinTech; payments hardware; mag stripe cards; mobile payments; networks; NFC; prepaid cards; processing; payments software; and terminals.
PYRPTS President Robert McKinley, a seasoned payments research analyst of 34 years, personally vets each report listed for relevance and reliability. He is also the Senior Analyst for CardData, CardFlash, and CardTrak.