Visa and MasterCard international card cash dollar volume (CDV) for the third quarter (3Q/15) posted $709 billion, compared to $722 billion in 2Q/15 and $811 billion one-year ago. However, the nominal year-on-year (YOY) change is meaningless.
Australian credit card gross dollar volume (GDV) rose by 1.0% year-on-year (YOY) in October. Purchase dollar volume (PDV) increased 1.2% YOY and cash dollar volume (CDV) declined 4.0% YOY in October.
Profits (after tax) among the nation’s big 6 U.S. credit card issuers declined 3.3% in the third quarter (3Q/15), compared to one year ago (YOY) but, rose 4.3% sequentially (QOQ).
U.S. Purchase Dollar Volume (PDV) for Visa and MasterCard (credit + debit) in the third quarter (3Q/15) grew at an annual rate (YOY) of 9.2%. Visa U.S. payment card (credit + debit) PDV for 3Q/15 was up 9.7%. MasterCard U.S. payment card (credit + debit) PDV for 3Q/15 was up 7.8%.
Bank credit card rates will begin to trickle upward next month in the wake of the Federal Open Market Committee (FOMA) decision to raise short-term rates by 25 basis points (bps). It is likely credit card rates in the first quarter will return to 2010 levels.
CardFlash News Briefs: INSIDE (award); KOUNT (funding); I2C (Canada); and COMDATA (network).
Los Angeles-based Allied Wallet has the something in common with Democratic White House contender Hillary Clinton. Allied’s CEO Andy Khawaja met with Hillary Clinton to share their affinity for entrepreneurs.
Munich-based Giesecke & Devrient (G&D) has inked a deal with Aeris, a specialist in the Internet of Things (IoT) market and Machine-to-Machine (M2M) communications. The wide range of M2M devices includes POS.
New research finds more than 50% of all cards in use now have EMV chips on them. From October to November, the percent grew 5% as banks and card issuers accelerated their rollout of new chip cards.
Seoul-based Bluebird has unleashed five brand new products on the payments market. The new gizmos include the EF500, EF500R, ET100, RT100, and MT280.
Verifone has added another gizmo to its mobile point-of-sale (mPOS) portfolio. The new Verifone e265 offers independent and micro merchants the flexibility to accept all major payment types and integrate with smart devices for value-added commerce capabilities.
UnionPay has launched QuickPass in Beijing with more than 20 commercial banks. Consumers can pay not only with UnionPay cards but also via its mobile solution QuickPass.
