Gross dollar volume (GDV) for licensees of Discover-owned Diners Club International declined 2.5% year-on-year (YOY) in the fourth quarter (4Q/15) to $6.76 billion. The rate was down slightly from the third quarter’s 3.0% declined. Over the past five quarters Diners GDV ranged between $6.47 billion and $6.76 billion. After peaking at $7.2 billion in 4Q/12,…
MasterCard now has its first mobile wallet service in Japan. The new JACCS Card is powered by MasterCard contactless technology. MasterCard is enabling secure, convenient mobile payments for Japanese cardholders with NFC-equipped smartphones issued by NTT DOCOMO, KDDI and SoftBank. Starting this month, cardholders can sign up with JACCS MasterCard Contactless Mobile at the JACCS…
In Other News: WLN/GTO (deal); IATS – (exec); AEVI (Albert); and BLACKHAWK (engagement). WLN/GTO – Worldline, a European payment and transactional services market leader and Gemalto, a world specialist in digital security, have inked a deal to enable seamless onboarding of banks and card issuers to mobile payment wallets provided by device manufacturers. IATS –…
For the first time, U.S. taxpayers can make payments to the Internal Revenue Service (IRS) using cash at 7,000 7-Eleven stores. PayNearMe and ACI’s OfficialPayments teamed with 7-Eleven to create the 24X7 payment option. With the scan of a PayNearMe barcode on a smartphone at nearly 7,000 participating 7-Eleven stores, taxpayers who need to use…
MasterCard’s European region 4Q/15 Gross Dollar Volume (GDV) rose year-on-year (YOY) by 15.1% on a currency adjusted basis (FX) and solid compared to 4Q/14’s 15.9% YOY gain. Europe is MasterCard’s second largest international region based on GDV and PDV. On a nominal basis, MasterCard’s Europe GDV declined 1.3% to US$341 billion in 4Q/15, compared to…
Tangerine, an independent, wholly-owned subsidiary of Scotiabank, is taking its new Money-Back MasterCard Credit Card to the national level in Canada. The new card offers 4% Money-Back Rewards for the first three months in two categories of choice and 1% Money-Back Rewards on all other purchases, with no annual fee. Tangerine’s Money-Back categories include restaurants,…
While credit card investors have access to issuer financial statements, regulatory filings, conference calls, and annual reports, there are many red flags not apparent, masking potential risk. Robert Hammer, Founder and CEO at R.K. Hammer & Card Knowledge Factor, ticks off the seven early warning signs to look for in any credit card portfolio. 1.…
U.S. Gross Dollar Volume (GDV) for Visa and MasterCard (credit + debit) in the third quarter (4Q/15) grew at an annual rate (YOY) of 8.7%. Visa U.S. payment card (credit + debit) GDV for 4Q/15 was up 8.9%. MasterCard U.S. payment card (credit + debit) GDV for 4Q/15 was up 8.4%. U.S. GDV for Visa…
Cross-border transaction volume for Visa and MasterCard continued to slide in the fourth quarter (4Q/15). Visa’s cross-border currency adjusted (FX) gross dollar volume (GDV) increased 4.0% YOY, while MasterCard rose 12.3% YOY for FX GDV in the fourth quarter. Cross-border volume refers to payments and cash volume where the issuing country is different from the…
Purchase dollar volume (PDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) globally rose 6.3% year-on-year (YOY) on a nominal dollars basis for the fourth quarter (4Q/15). However, on a currency adjusted basis (FX) global 4Q/15 PDV increased 10.8% YOY. The major four networks posted $2489 billion in global PDV for 4Q/15,…
JCB, PayCenter and petaFuel have launched the first JCB-girocard co-badged card in Germany. The product named “CardDuo” is a prepaid card which combines the functionalities of JCB alongside girocard (payment scheme operated by the German Banking Industry Committee). By operating with both JCB and girocard applications, cardmembers can access JCB’s Merchant and ATM network in…
The charge-off ratio for the top 100 U.S bank credit card issuers edged up sequentially in the fourth quarter (4Q/15), but continue to remain below year ago ratios and continue to hover at historic lows. On a not seasonally adjusted (NSA) basis 4Q/15 charge-offs rose 17 basis points (bps) from the prior quarter, but down…