U.K. consumer credit continues to expand at a brisk pace, hovering around 10% year-on-year YOY. In April total consumer credit grew to £183.2 billion. The three-month annualized and twelve-month growth rates, seasonally adjusted (SA), were 10.4% and 9.6% respectively. The Bank of England (BOE) reports consumer credit increased by £1.3 billion in April, compared to…
Australian credit card gross dollar volume (GDV) slipped upward, posting a 2.7% year-on-year (YOY) in April. Purchase dollar volume (PDV) increased 2.6% YOY and cash dollar volume (CDV) was 0.5% YOY YOY in April. GDV rose in April to AU$24.3 billion, compared to a revised AU$26.3 billion in the prior month and AU$23.7 billion one-year…
In Other News: NXT-ID (DreamTrips); INTELLICHECK (funding); REVEL (Vantiv); and CAUSE (exec). VISA Visa is now a member of the Alliance for Safe Online Pharmacies (ASOP Global), says ASOP Global’s Executive Director, Libby Baney and Martin Elliott, global head of brand protection for Visa. ACI – ACI Worldwide and PT Indopay Merchant Services (Indopay), a…
Wirecard and Travelex have teamed to launch a new MasterCard card and app combination for UK travelers to avoid overseas debit and credit card roaming fees and charges when spending abroad. Last year, Travelex introduced Supercard on a pilot basis to help solve traveler spending woes. After a successful pilot, Supercard is now offering the…
Visa is adding more gas to the pipeline to accelerate EMV chip migration for U.S. merchants. Visa has streamlined its testing requirements, amended and simplified the terminal certification process, and committed to investing further resources and technical expertise in a manner that can reduce timeframes by as much as 50%. Visa is also making policy…
Ally Bank and TD Bank have unveiled the Ally CashBack Credit Card program. The new card features an additional ten percent bonus if cash back rewards are redeemed into an Ally Bank non-IRA Online Savings, Interest Checking or Money Market Account. Ally CashBack Credit Card holders will be eligible to earn the following rewards with…
In Other News: NXT-ID (DreamTrips); INTELLICHECK (funding); REVEL (Vantiv); and CAUSE (exec). NXT-ID – NXT-ID has received a $1.2 million dollar payment from WorldVentures as part of a total of $2.5 million for the first production run of the DreamTrips SmartCards to be delivered at the end of July. INTELLICHECK – Intellicheck Mobilisa, announced the…
Purchase dollar volume (PDV) in Canada for Visa and MasterCard has been plummeting over the past five quarters, however card issuance in the first quarter (1Q/16) for both networks remained in double-digits year-on-year (YOY). The P&S Market Research’s “Canada Cards and Payments Market – Size, Share, Development, Growth and Forecast to 2020” report says in…
The frequency of credit card usage in the UK increased at a CAGR of 9.4% during 2012-2014 and the frequency of transaction is expected to reach up to 61 times by 2020. According to the P&S Market Research “UK Cards and Payments Market – Size, Share, Development, Growth and Forecast to 2020” report, the total…
Based on Gross Dollar Volume (GDV) debit cards hold a 64.6% share in the Brazilian payment card market while credit cards had 35.4% share. According to P&S Market Research’s Brazil Cards and Payments Market – Size, Share, Development, Growth and Forecast to 2020, the debit cards dominant share is likely to remain stable through 2020.…
While robust, the payment card market in China is expected to ramp down in tandem with the economy over the next five years. Timetric’s “The Cards and Payments Industry in China: Emerging Trends and Opportunities to 2020” provides values and volumes for a number of key performance indicators in the industry, including check payments, payment…
Stephen Brobeck of the Consumer Federation of America says its latest credit score survey reveals 80% of consumers know the basic facts. However, the national survey by the CFA and VantageScore revealed that many consumers do not understand credit score details with important cost implications: • Most seriously, consumers greatly underestimate the cost of low…