Robert McKinley, Senior Analyst/Editor Robert McKinley is an analyst of the payments industry on a daily basis for 32 years covering payment cards and payment systems from both the business side and the consumer side. McKinley is the retired founder and chief executive of RAM Research, CardWeb and CardTrak. In his prior position, McKinley has participated in more than 10,000 documented news media interviews, testified as an expert witness in two separate $billion+ U.S. anti-trust trials, testified before the U.S. Congress, assisted the GAO with paymentsIMG_2006 (1).jpeg reports, chaired numerous business conferences and provided C-Suite opinion to a multitude of Fortune 500 companies. In retirement, he has continued developing and funding digital media assets as well as contributing payments related analysis/content to a broad list of online publishers, including CardFlash, CardTrak and CardData. McKinley is also a national certified mentor with the non-profit SCORE organization with a focus on assisting Fintech startups. www.robert-mckinley.com

AXP USCS Pinched by Costco Card Loss – Q1 Delinquency & Charge-Offs Rise

The impact of the loss of the U.S. Costco and JetBlue programs continues to manifest itself in the American Express (AmEx) U.S. Card Services (USCS) unit during the first quarter (1Q/17), according to CardData. AmEx reported 1Q/17 gross revenue for USCS decreased 8.0% YOY to $3019 million, compared to $3030 million for the fourth quarter…

U.S. Bank Credit Card Q1 Profits Decline As Charge-Offs Rise

U.S. Bank (USB)’s Payment Services division reported solid growth in gross dollar volume (GDV) as well as credit and debit fee revenue for the first quarter (1Q/17). However, rapidly rising charge-offs depressed credit card income, according to CardData. Acquiring volume continued to decline for the fourth consecutive quarter. USB’s Payment Services includes consumer and business…

All-Digital Payment Service Masterpass Inking Deals From Vending to Africa

Masterpass continues to expand globally reaching into the far corners of the world. Masterpass empowers issuing partners to deliver a bank-branded, all-digital payment solution. More than 80 million accounts have been automatically enabled through issuing partners as the service rolls out globally. The enhanced digital payment functionality helps issuers differentiate existing products, including mobile banking…

All the Cards are Finally Lining Up for Solid Growth in Corporate Purchasing Cards

The global corporate purchasing cards market is projected to grow at a CAGR of 9.5% over the next five years due to the growth in spending on corporate purchasing cards, which is driven by lower fixed costs in the payment cycle, effective cash management, transparency and management control, and long-term process efficiencies. According to ‘Global…

Chinese Messaging & e-Commerce Platforms Power Digital Payments to the Stratosphere

Alipay and WeChat Pay enabled a gargantuan US$2.9 trillion in Chinese digital payments last year, representing a 20-fold increase in the past four years. This shift could increase GDP across developing economies by 6% by 2025, adding US$3.7 trillion and 95 million jobs. The new report by the UN-based Better Than Cash Alliance, Social Networks,…

BofA Credit Card Unit Continues to Plug Along in Q1 – Charge-Offs Up

Bank of America, the nation’s third largest Visa and MasterCard issuer, continued to struggle in the first quarter (1Q/17) with sluggish outstandings (OUT) and purchase dollar volume (PDV) growth, but other metrics, except charge-offs, remain fairly stable, according to CardData. Pre-tax net income edged up 1.1% YOY to $1224 million in 1Q/17, compared to $1290…

Bank Credit Card Delinquency Slowly Rears its Ugly Head Again

More evidence mounts showing credit card delinquency is steadily rising. The bank credit card default rate recorded a 3.31% rate in March, up nine basis points from February. This is the fifth consecutive month for the ratio to rise. The S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, shows…

VE Kiosk Platform Brings Together ePort, More Loyalty with High Quality Vending Hardware

USA Technologies (USAT has buddied with Vendors Exchange (VE) brings together an industry leader in vending solutions for the convenience marketplace an innovator in next generation payment technology and provider of cashless and mobile transactions in self-serve retail. The partnership has produced the VE Kiosk platform. The VE Kiosk was built on the premise that…

PayRange Taps Into the Most Advanced Vending Machine Market in the World

OR-based PayRange has inked a deal with Sumitomo Mitsui Card Company (SMCC), a major merchant acquirer in Japan to expand the PayRange mobile payment solution to millions of Japanese vending machines. While Japan has among the most advanced vending machine markets in the world almost none of the vending machines take credit or debit cards.…