Discover’s credit card outstandings continued strong in the first quarter rising 5.1% as Purchase Dollar Volume (PDV) rose 2.7%, year-on-year (YOY). While all other credit card metrics remained stable, overall net income for Q1/15 declined 7.1% YOY to $586 million.
Gross Dollar Volume (GDV) for Visa, MasterCard, Discover and American Express U.S. credit cards is expected to top $4 trillion annually by year-end 2019. According to forecaster RAM Research, the U.S. GDV for the U.S. credit card industry is growing at a CAGR of 9.23%.
Gross dollar volume (GDV) for licensees of Discover-owned Diners Club International declined 0.8% year-on-year (YOY) in the first quarter of 2015 to $6.47 billion. Diners GDV ranged between $6.5 billion and $6.9 billion during 2014.
The top Bitcoin payment solution provider for European merchants is heading into the Czech Republic. Amsterdam-based Coinzone recently launched in the UK market with significant success.
A new study reveals PayPal is already feeling the heat of Apple Pay in just the first six months. The pain will only get worse as more consumers indicate they prefer mobile payments over digital payments.
Data leaks and phishing attacks continued unabated. Account information (40%) was the primary target of hackers in 2014, followed by credit card information (20%). The United States was hit harder than any other country when it came to data breaches.
While some Apple Pay critics scoff at the low number of retailer locations available as its coming demise, others argue that writing off Apple Pay for its slow initial adoption misses the forest for the trees.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Brooks Smith, President and CEO of InComm.
First Data inked an extended agreement with Sam’s Club to improve member access to First Data solutions and technologies. The deal will also aim to help members to understand the EMV migration.
The Smart City App Hack sponsored by FIWARE and MasterCard has confirmed Dubai, Barcelona, Helsinki and Ghent will participate. The cities will join forces aiming to create a network of citizens that will collaborate in designing and building the Smart Cities of 21st century, through mobile app development.
CardWeb.com’s CardData Reports today features the “Mobile Money Market” report from MarketsandMarkets. The report defines the global market based on various transaction modes, nature of payments, location types, types of purchases and industrial verticals with an in-depth analysis and forecasting of market sizes.
Uber is now part of Capital One’s Quicksilver program. Quicksilver cardholders will receive 20% back as a statement credit on all Uber rides through April 2016 when they pay using their Quicksilver or QuicksilverOne card.