Gross or open accounts (GAC) for U.S. credit cards among the nation’s four largest issuers were flat year-on-year (YOY) in the first quarter (1Q/16) to 190.0 million, compared to 189.9 million one-year ago. The GAC growth is driven by Capital One, while Chase, Bank of America (BofA) and Citibank face YOY and quarter-to-quarter (QTQ) GAC…
U.S. Credit Cards-in-Force (CIF) among the Top 4 issuers edged up by a mere 1.9% year-on-year (YOY) at the end of the first quarter (1Q/16) to an estimated 236.1 million cards, compared to 232.9 million in 4Q/15, and 231.6 million for 1Q/15. Capital One blew the other three top issuers away in the first quarter,…
Gross dollar volume (GDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) in the U.S. climbed 9.0% year-on-year (YOY) in 1Q/16 reaching a record $1401 billion. Visa led the way in the first quarter posting a 10.0% YOY gain for U.S. GDV. Visa reported first quarter GDV of $823 billion, compared…
In Other News: FISERV (Notifi); CHECKALT (Klik); SAFETYPAY (growth); and CARDX (Paychex). FISERV – Fiserv has launched a platform for the delivery of real-time alerts, enabling financial institutions to meet growing expectations among consumers and small businesses for information that is timely and actionable. Notifi from Fiserv consolidates information from across a financial institution’s systems…
Oberthur Technologies has unveiled its new multi-payment dual interface card developed on OT’s Global Platform and Java-based operating system. OT’s COSMO Fly v5.8 is the first dual interface product which includes the latest features from both Visa and MasterCard. It is the first MasterCard M/Chip Advance v1.2 certified products with multi-application requirements and also conforms…
Discover has joined the other three networks to offer accelerated chip cards. Discover Quick Chip will reduce the time a chip card needs to remain in the point-of-sale terminal, making the checkout process more convenient for merchants and cardholders. The new option for merchants to streamline the checkout process for all chip cards leveraging Discover,…
Worldpay Total has been launched into mainland Europe, providing an Omni-channel payments service designed to help brands deliver a consistent and convenient shopping experience across all sales channels, from their website to the Point-of-Sale. Worldpay Total will provide a unified alternative to the approach currently adopted by many brands which often requires them to work…
In Other News: NRHA (PAI); EXADIGM (certification); WELLS (P2P); and CARDFELLOW (Square). NRHA – The North American Retail Hardware Association (NRHA) and Payment Alliance International (PAI) have formed a partnership to provide independent home improvement retailers with new credit card processing and payment services opportunities. A leader in electronic payment processing solutions, PAI currently serves over…
American Express and Facebook are working hand-in-hand to explore innovative new experiences to interact with Card Members in Messenger. American Express expects to launch a pilot Amex bot for Messenger in the coming months for eligible U.S. Consumer and OPEN Card Members who opt-in to participate. The concept demonstrated how American Express Card Members could…
U.S. Gross Dollar Volume (GDV) for Visa and MasterCard (credit + debit) in the first quarter (1Q/16) grew 9.9% year-on-year (YOY). Credit card growth outpaced debit cards in the U.S. by 150 basis points (bps) YOY. Visa U.S. payment card (credit + debit) GDV for 1Q/16 was up 10.0%. MasterCard U.S. payment card (credit +…
U.S. Gross Dollar Volume (GDV) among the top four bank credit card issuers, rose an estimated 9.9% year-on-year (YOY) in the first quarter (1Q/16). The growth was driven by Capital One’s explosive growth. The top four U.S. issuers racked up an estimated $295.2 billon in GDV for 1Q/16, compared to $322.5 billion in 4Q/15 and…
Global payment cards-in force (CIF) [credit + debit] grew by 6.4% year-on-year (YOY) in the first quarter (1Q/16) to 4300 million. The growth has been largely driven by Visa and MasterCard’s international “inclusion” drive with debit (& prepaid) cards. Visa and MasterCard U.S. credit CIF rose 7.1% YOY from 492 million one-year ago to 537 million…