U.S. gross transactions (GTX) for Visa and Mastercard credit and debit cards grew by 5.9% year-on-year (YOY) in the first quarter (1Q/17), compared to 6.5% one-year ago, according to CardData. U.S. GTX for credit cards jumped 14.2% YOY while U.S. GTX for debit cards increased 2.5% YOY in 1Q/17. Visa’s U.S. GTX for credit cards…
The slowdown in EMV for the second fiscal quarter, (ended 4/30/17), (2Q/17) continues to drag on Verifone’s (VF) performance, as year-on-year (YOY) net income plummeted by more than 500%. The Company notes it continues divesting non-strategic businesses and allocating resources and capital to ensure the timely delivery of our new products, with a bright 2018…
U.S. consumer revolving credit for May, mostly credit card debt (95%), continued to climb above the $1 trillion milestone set in December, growing at a solid clip annually. While climbing steadily throughout 2016, consumer revolving credit increased at an +8.7% annual rate of growth in May, compared to a revised +1.4% annual rate in April…
Second quarter earnings reports for the nation’s top credit card issuers, global payments networks and supporting businesses gets underway before the market opens on July 14th. First out of the shoot, will Chase (JPM) and Wells Fargo (WFS) reporting Friday morning, according to PYRPTS.com and CardData. Citibank (C), Bank of America (BAC) and Capital One…
Visa and Mastercard international payment card (credit + debit) purchase dollar volume (PDV) for the first quarter (1Q/17) posted US$1494 billion, up 38.6% year-on-year (YOY), on a nominal basis. However, the figures are greatly skewed as Visa began including Europe PDV for the first time in 3Q/16, according to CardData. Excluding Visa Europe, Visa and…
U.S. Credit Cards-in-Force (CIF) among the Big 6 issuers grew 6.4% year-on-year (YOY) at the end of the first quarter (1Q/17), up 22.8 million cards YOY to 378.2 million cards. This compared to 370.3 million in 4Q/16 and 355.4 million for 1Q/16, according to CardData. Citibank blew out the Big 6 peer group with a…
Cash transactions (CTX) for Visa and Mastercard U.S. credit and debit cards in the U.S. declined by 1.4% year-on-year (YOY) in the first quarter (1Q/17), according to CardData. U.S. 1Q/17 credit card cash transactions were down 0.4% YOY, as U.S. debit card CTX decreased 1.4% YOY. Visa’s 1Q/17 CTX for U.S. credit cards was flat…
The Big 6 issuers, based on U.S. total outstandings of $1000.9 billion, control 50.8% of the U.S. bank credit card business at the end of the first quarter (1Q/17), up 170 basis points (bps) from one-year ago. There has been clear shift among the peer group with Citibank snatching significant marketshare from the others, according to…
Purchase dollar volume (PDV) for Visa, Mastercard, American Express and Discover cards (credit + debit) globally rose 21.2% year-on-year (YOY) on a nominal dollars basis for the first quarter (1Q/17). However, on a currency adjusted basis (FX), global 1Q/17 PDV increased 20.4% YOY, according to CardData. The first quarter PDV figures are skewed as Visa…
U.S. bank credit card active accounts (AAC) (accounts with sales activity), among the top six U.S. issuers, increased 7.0% year-on-year (YOY) in the first quarter (1Q/17), according to CardData. There were 169.2 million active bank credit card accounts for 1Q/17 in the U.S. among the top six issuers: Citibank; Capital One; Chase, Bank of America,…
The nation’s four major payment card networks produced $1485 billion in U.S. gross dollar volume (GDV) in the first quarter (1Q/17) for a 6.0% year-on-year (YOY) gain. Visa continues to rule the market, growing its U.S. GDV marketshare from 58.7% in 1Q/16 to 61.1% in 1Q/17, largely at the expense of American Express, according to…
Gross or open accounts (GAC) for U.S. credit cards among the Big 6 U.S issuers rose 6.6% year-on-year (YOY) in the first quarter (1Q/17) to 291.4 million, compared to 286.1 million in the prior quarter, and 273.5 million one-year ago, according to CardData. The growth is driven by Citibank and its acquisition of the American…