Card Networks U.S. GDV Nose-Dives 24%
Credit Card Networks U.S. GDV (gross dollar volume) for second-quarter credit/charge card products, among the Major 4 payment networks (Visa [V], Mastercard [MA], American Express [AXP], and Discover [DFS]), nose-dived, declining 23.9% year-on-year (YOY), compared to an 3.1% YOY gain for the prior quarter, and 8.1% YOY for the year ago quarter. On an annual…