Big 6 Issuers Losing Marketshare to Smaller Players

Big 6 Issuers Losing Marketshare to Smaller Players

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Big 6 issuers, based on U.S. total outstandings of $950 billion, control 49.3% of the U.S. bank credit card business at the end of the first quarter (1Q/16). However, as a group the Big 6 lost 250 basis points (bps) quarter-to-quarter (QTQ) in marketshare to smaller issuers in the first quarter.…

Briefs: CURRENCIES; CPI; BREEZEWORKS; and BLUESNAP.

In Other News: CURRENCIES (Board); CPI (CFO); BREEZEWORKS (prompt.ly); and BLUESNAP (Android). CURRENCIES DIRECT – Currencies Direct, the leading UK non-bank provider of foreign exchange and international payment services, today announced that Antony Jenkins, formerly CEO of Barclays Plc, has joined the company as non-executive Chairman. He will focus on further advancing Currencies Direct’s digital…

Australian Card Spending YOY Growth Remains Brisk

Australian Card Spending YOY Growth Remains Brisk

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Australian credit card gross dollar volume (GDV) headed upward, posting a 10.9% year-on-year (YOY) in May. Purchase dollar volume (PDV) increased 10.7% YOY and cash dollar volume (CDV) was 15.5% YOY in May. GDV rose in May to AU$26.9 billion, compared to a revised AU$24.3 billion in the prior month and…

Card Profits Among Big 6 Headed South in 2016

Card Profits Among Big 6 Headed South in 2016

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Profits (after tax) among the nation’s Big 6 U.S. credit card issuers declined 4.9% in the first quarter (1Q/16), compared to one year ago (YOY) and, down 2.0% sequentially (QTQ). Aggregate card after tax profits for the Big 6 issuers logged in at $3789 million for 1Q/16, compared to $3867 million…

Briefs: NAB; PARAGON; CREDITCALL; and VIRTUAL PIGGY

In Other News: NAB (Velocity); PARAGON (FSS); CREDITCALL (MEPSA); and VIRTUAL PIGGY (IMPACT). NAB – NAB Velocity, the front-end omnichannel payments platform from award-winning credit card processor North American Bancard Holdings, has entered into a partnership with Enspire Commerce’s RetailPoint, a cloud-based mobile point-of-sale (mPOS) customer engagement solution targeted to small and mid-sized businesses. The…

Delta Airlines - First U.S. Carrier to Accept UnionPay Cards Online

Delta Airlines – First U.S. Carrier to Accept UnionPay Cards Online

Delta Air Lines has become the first U.S. airline to accept UnionPay cards online. On August 8, UnionPay International and Delta Air Lines jointly announced that the official website of Delta (delta.com) would accept UnionPay cards (card number starting with 62) issued both in mainland China and abroad. Previously, UnionPay International has cooperated with international…