Consumer FOR and DSR Metrics Remain at Record Lows

Consumer FOR and DSR Metrics Remain at Record Lows

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Financial Obligations Ratio (FOR) and the Debt Service Ratio (DSR) for the first quarter (1Q/16) edged down a tad and continue to hover a record low levels. According to the Federal Reserve, on a seasonally adjusted basis, the FOR slipped downward to 15.31% in 1Q/16, compared to 15.36% in 4Q/15…

Global PDV for Major 4 U.S.-Based Networks Up 9.2% YOY FX

Global PDV for Major 4 U.S.-Based Networks Up 9.2% YOY FX

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Purchase dollar volume (PDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) globally rose 6.8% year-on-year (YOY) on a nominal dollars basis for the first quarter (1Q/16). However, on a currency adjusted basis (FX), global 1Q/16 PDV increased 9.2% YOY.  The major four networks posted $2367 billion in…

U.S. Credit Card Delinquency Remains at Historic Lows in 1Q/16

U.S. Credit Card Delinquency Remains at Historic Lows in 1Q/16

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The 30+ day delinquency rate, seasonally adjusted (SA), among the top 100 U.S. banks for the first quarter (1Q/16) decreased 3 basis points (bps) sequentially (QTQ), but up 6 bps year-on-year (YOY). On a not seasonally adjusted basis (NSA), the delinquency rate among the top 100 U.S. banks for 1Q/16, declined…

Verifone has Rough Sailing in 2Q and Will Cut Jobs & Review Weak Units

Verifone has Rough Sailing in 2Q and Will Cut Jobs & Review Weak Units

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Citing several difficult market dynamics in the second quarter, Verifone is reviewing underperforming businesses and launching a headcount restructuring. Verifone reported second quarter (2Q/16) net income nose-dived more than 80% year-on-year (YOY), with most of the growth coming from the North America segment. The recent InterCard and AJB Software Design acquisitions…

Australian Credit Card Debt Bumps Up a Bit in April

Australian Credit Card Debt Bumps Up a Bit in April

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Australian credit card outstandings edged up by 1.4% year-on-year (YOY) in April. Credit card credit limits increased 3.3% YOY and the number of credit card accounts rose 2.8% YOY. The average balance per account in April declined 1.4% YOY to AU$3149, compared to AU$3157 for March, and AU$3194 for April 2015.

Credit…

Largest U.S. Retailers Remain Omnichannel Laggards

Largest U.S. Retailers Remain Omnichannel Laggards

The largest retailers continue to struggle to become omnichannel-ready. Sporting goods merchants lead the omni-ready pack, followed closely behind by mass merchants and electronics/entertainment while grocery and pharma continue to be laggards. According to the Vantiv/PYMNTS.com OmniReadi Index, the top 30% of merchants appear to be on their way to becoming OmniReadi, but the remaining…

CPI Shareholders Sue Over the Company’s 2015 IPO

CPI Shareholders Sue Over the Company’s 2015 IPO

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] CPI Card Group has been hit with class action shareholder lawsuits in regard to its October 2015 IPO and 1Q/16 earnings report. On May 11, CPI reported disappointing financial results for the first quarter, stating “primary impact resulting from lower than expected EMV card shipments,” according to President and CEO Steve…

U.K. Consumer Credit Remains Solidly Robust in April

U.K. Consumer Credit Remains Solidly Robust in April

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] 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…

Australia Consumer Card Spending Heads North in April

Australia Consumer Card Spending Heads North in April

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] 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…

Other News: VISA; ACI; MASTERCARD; and CHASE (P2P)

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…