The National Retail Federation (NRF) blasted the EMV migration noting small businesses should not be pressured to install the equipment to accept them at the expense of more effective technology. The NRF told Congress that new chip-and-signature credit cards without a PIN will not stop data breaches.
U.S. credit card outstandings end-of-period (EOP) among the Big 6 issuers will likely rise 2.5% year-on-year (YOY) in the third quarter says RAM Research. Big 6 outstandings rose by a mere 2.3% YOY in the second quarter to $474.5 billion, according to CardData.
Charge-offs among the nation’s top 6 issuers are expected to notch upwards by 3 basis points (bps) in the third quarter expects RAM Research. Charge-offs among the nation’s top 6 issuers dropped 22 bps year-on-year (YOY) to 2.81% for the second quarter, and down 16 bps sequentially, according to CardData.