Early stage delinquency (30+ days) among the nation’s top 6 issuers rose sharply by 26 basis points (bps) year-on-year (YOY) in the first quarter (1Q/17), according to CardData. For 1Q/17 the nation’s largest issuers posted an average delinquency ratio of 2.01%, compared to 2.02% in the prior quarter, and 1.75% one-year ago. Four of the…
Global purchase transactions (PTX) for Visa and Mastercard debit and credit cards, excluding Visa Europe, rose 10.1% year-on-year (YOY) in the first quarter (1Q/17). Including Visa Europe PTX increased 28.1%, according to CardData. The two networks combined processed 51.0 billion purchase transactions in 1Q/17, compared to 53.0 billion for the fourth quarter and 39.8 billion one-year…
Mastercard has inked a long-term deal with the Bank of Jordan Aimed at promoting electronic payments as a viable and cost-effective alternative to cash, the partnership will see Bank of Jordan issue Mastercard payment solutions, including debit and credit cards, to its customers across the Kingdom, bringing them greater payment security and convenience. The signing…
Worldpay has introduced the newest solution for chip card payment processing, Quick Chip technology – making it the first payment processor to offer the technology in the U.S. Reducing chip card terminal transaction times to approximately three seconds, Quick Chip technology delivers the speed of service today’s businesses and consumers expect. Quick Chip removes the…
Total U.S. credit/charge cards-in-force (CIF) in the first quarter (1Q/17) for Visa, MasterCard, American Express and Discover was up 6.8% year-on-year (YOY). At the end of 1Q/17, there were 654 million U.S. credit/charge CIF compared to 612 million for 1Q/16, according to CardData. Visa U.S. credit CIF for 1Q/17 jumped 13.3% YOY to an estimated…
The average yield among the nations’s Top 4 bank credit card issuers rose 8 basis points (bps) sequentially at 11.08%, but down 41 bps year-on-year (YOY) for the first quarter (1Q/17), compared to 11.00% for the prior quarter, and 11.49% for 1Q/16, according to CardData. Capital One (COF), continues to lead the Top 4 with…
U.S. Purchase Dollar Volume (PDV) for Visa and Mastercard payment cards (credit + debit) in the first quarter (1Q/17) grew at an annual rate (YOY) of 8.8% YOY, according to CardData. U.S. Visa and Mastercard reported payment card PDV of $1099 billion for 1Q/17, compared to $1137 billion in the prior quarter, and $1010 billion…
Corporate payment solutions WEX inked a new agreement with Crawler2api. Crawler2api is a major provider of custom real-time APIs and transactional bots. The company aims to make data easily accessible for clients while eliminating the need for websites to maintain costly APIs or structured data feeds. Crawler2api’s proprietary crawling framework enables its clients to request data…
Discover Global Network has inked an agreement with Desjardins Group, the top cooperative financial group in Canada through its Monetico payment solutions, to expand acceptance in Canada. Merchants that have business relationships with Desjardins are now able to accept cards that run on the Discover Global Network, including Discover, Diners Club and alliance partner cards.…
First Data has inked a deal acquire CardConnect for $750 million. The transaction is expected to close in the third quarter. CardConnect is a provider of payment processing and technology solutions and is one of First Data’s largest distribution partners. CardConnect processes approximately $26 billion of volume annually from about 67,000 merchant customers which are…
Square posted another stunning quarter (1Q/17) with revenue up 22%+ year-on-year (YOY), gross payment volume (GPV) up more than 32%. Square says it continues to see strength from larger sellers, which are those that generate more than $125,000 in annualized GPV. In the first quarter, GPV from larger sellers grew 44% year over year and…
U.S. EMV (chip cards) demand destroyed CPI Card Group (CPI) in the first quarter (1Q/17), as gross revenue fell 35.2%, and a $4.5 million loss. As a result CPI stock dipped 10%, to hovering at $2.60 today, according to CardData. CPI says product net sales decreased primarily due to a decline in EMV chip cards…
