Q3 credit CIF (cards-in-force) continue to grow despite a saturated U.S. market driven by an expanding sub-prime marketplace and the aggressive marketing of high-end rewards cards. Over the past year, the total CIF is up by nearly 21 million, and growing more 300 basis points (bps) over the prior twelve-month period. Mastercard continues to blow…
Fintech disrupters innovators will draw more than 6,000 members of the fintech community to Fintech Connect for a major event slated in London. Scheduled for December 3rd to 4th, the FinTech Connect event will be held at the Excel. Among the featured speakers is Lisa Frazier, head of Wells Fargo’s Innovation Group since 2018. About…
U.S. card yield, as an average for the nation’s Top 4 issuers, remained at record levels in the third-quarter posting a small uptick sequentially. All of the issuers, except Chase, posted higher yields in the third-quarter from the prior quarter. However, this is fourth consecutive quarter wherein all of the Top 4 exceeded 10%. The…
Global card PDV (purchase dollar volume) in the third-quarter (3Q/19) among the Major 4 U.S. payment networks continued to spiral down over the past year. On an FX (currency adjusted) basis, Major 4 global payment card (credit + charge + debit + prepaid) PDV declined from a 12.5% YOY (year-on-year) FX gain for 3Q/18 to…
Third-quarter card charge-offs among the Top 4 U.S. bank credit card dropped sharply from the prior quarter, a historical pattern, but up slightly from one-year ago, remaining the highest for a third-quarter in seven years. Credit card charge-offs among the nation’s Top 4 credit card issuers decreased 36 bps (basis points) sequentially in the third-quarter…