[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. gross transactions (GTX) for Visa and MasterCard credit and debit cards grew by 11.9% year-on-year (YOY) in the first quarter (1Q/16). U.S. GTX for credit cards jumped 12.9% YOY while U.S. GTX for debit cards increased 11.5% YOY in 1Q/16. Visa’s U.S. GTX for credit cards rose 12.2% YOY as…
GoSwiff, UniCredit, and MasterCard have formed a partnership to launch mobile payments in Romania. The partnership is created to enable Allianz-Tiriac Asigurari agents to start accepting card payments with mobile point of sale (mPOS) for the insurance policies issued by the company. Allianz-Tiriac Asigurari is the first insurance company in Romania to offer this solution,…
A new survey finds the majority of Millennials are opening credit cards and building positive credit histories early. Millennials are taking the step of opening credit cards just as generations before. Sixty-two percent of those surveyed said they had at least one open credit card. Among the minority who do not have a credit card,…
UnionPay International and its first partners jointly announced in Shanghai the launch of “优计划”, the world’s first open cross-border marketing platform developed by a bankcard scheme. The partners involved in developing the platform include Bank of China, China Merchants Bank, CYTS, Ctrip, Spring Airlines, SaSa Hong Kong, Prince Jewelry & Watch, LUKFOOK JEWELLERY, and ISA.…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. Purchase Dollar Volume (PDV), credit and debit cards, among the Big 6 U.S. card issuers, rose 7.5% year-on-year (YOY) for the first quarter (1Q/16). Capital One completely blew out the Big 6 pack by a nearly 2-to-1 margin. The Big 6 U.S. issuers racked up $479.8 billon in PDV for…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Charge-offs among the nation’s top four U.S. issuers rose 5 basis points (bps) year-on-year (YOY) to 3.08%, and up 21 bps sequentially for the first quarter (1Q/16). All four issuers reported sharply higher credit card losses sequentially. Soaring Capital One losses drove the sequential gain for the peer group. The Chase…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Gross or open accounts (GAC) for U.S. credit cards among the Big 6 U.S issuers edged up 0.6% year-on-year (YOY) in the first quarter (1Q/16) to 273.4 million, compared to 270.7 million in the prior quarter, and 271.9 million one-year ago. The growth is driven by Capital One and American Express…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Cash transactions (CTX) for Visa and MasterCard U.S. credit and debit cards in the U.S. grew by 4.7% year-on-year (YOY) in the first quarter (1Q/16). U.S. 1Q/16 credit card cash transactions were up 13.6% YOY, while U.S. debit card CTX increased 4.5%. Visa’s 1Q/16 CTX for U.S. credit cards was up…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The average yield among the nations’s Top 4 bank credit card issuers declined 9 basis points (bps) sequentially at 11.49% for the first quarter (1Q/16), compared to 11.58% for the prior quarter, and 11.54% for 1Q/15. Capital One (COF), continues to lead the Top 4 with a 14.43% 1Q/16 yield while…
In Other News: CSI (partnerships); PACE (@Pay); WORLD PATENT (Change Card); and ZAPPOROO (Automaticard). CSI – CSI globalVCard is expanding its global partnership operations team to support the company’s growing network of strategic FinTech partnerships. This team will be moved from the company’s Southwest Florida headquarters to the recently opened Dallas, Texas office, which is…
Visa is releasing its second calendar report much earlier than expected. Visa is now releasing on July 21st, after the market close. MasterCard will report on July 28yh before the market open. The second calendar quarter earnings report season for the payments industry opens on July 14 when Chase and Citibank report before the market…
JCB International has established a Yangon branch in Myanmar. Ayeyarwady Bank, and Co-Operative Bank agreed on issuing JCB cards with JCBI, and will start issuing JCB cards this quarter or later in Myanmar. In Myanmar, investment from other countries has been gaining momentum since democratization in 2011 due to easing of international economic sanctions. It…
