Pasadena, CA-based Green Dot has picked MasterCard to be the transaction processor and network gateway for all Green Dot Bank-issued deposit accounts, including the bank’s debit card products.
New research on customer retention surprisingly reveals that companies encouraging their customers to switch products can increase rather than decrease customer turnover. Therefore, proactive retention campaigns may backfire producing higher attrition.
The average charge-off ratio among the nation’s four largest issuers increased 12 basis points (bps) quarter-to-quarter (QOQ) to 3.09% in the first quarter (Q1/15). The top 100 U.S. banks posted a 10 bps increase QOQ to 3.07%, according to CardData.
Purchase Dollar Volume (PDV) for Visa, MasterCard, Discover and American Express U.S. credit cards is expected to reach $4.2 trillion annually by year-end 2019. According to forecaster RAM Research, the U.S. PDV for the U.S. credit card industry is growing at a CAGR of 9.99%.