[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MasterCard’s U.S. payment card (credit+debit) purchase dollar volume (PDV), for the first quarter (1Q/16), logged its highest year-on-year (YOY) gain in exactly four years (1Q/12). However, there was noticeable erosion in the average purchase transaction YOY. Even though the big MasterCard issuers struggle with stagnant growth in accounts (GAC) and cards-in-force…
[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 March total consumer credit grew at a 9.7% annual rate, seasonally adjusted (SA) to £182.4 billion. The three-month annualized and twelve-month growth rates were 11.6% and 9.7% respectively. The Bank of England (BOE) reports consumer…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] While not exploding, Discover’s (DFS) credit card portfolio continues to stay in positive territory. Year-on-year (YOY) growth in the first quarter (1Q/16) was limited to single digits, but charge-offs (CO) headed higher due to the historical seasonal impact of a first quarter. Discover’s total revenue rose 2.4% YOY to $2224 million,…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] AmEx reported 1Q/16 gross revenue for its U.S. card business (USCS) rose 3.0% YOY to $3280 million, while net income increased 5.0% YOY to $694 million. Gross revenue for the AmEx international card business (ICNS) declined slightly (-1.0%) YOY, or +8.0% currency adjusted (FX), to $1313 million and net income slipped…
Payments eXchange has picked Peoples Trust as the ‘Leading Prepaid Organization’ in Canada, and honored Peoples Card Services’ president, Peter Read, as ‘Industry Person of the Year’. The Company, along with InComm and National Money Mart Company, was also recognized at the annual awards event, for the Titanium+ Prepaid MasterCard®, which took the ‘Best Consumer-Funded…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Wells Fargo first quarter (1Q/16) consumer credit card purchase dollar volume (PDV) soared 13.6% year-on-year (YOY) as purchase transactions (PTX) rose by 11.2%. Active mobile users of Wells Fargo surged 18.8% YOY. Average consumer credit card 1Q/16 outstandings grew 9.6% YOY to $33.1 billion, compared to $34.0 billion for 4Q/15 and $30.1…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Citibank North America branded credit card revenues declined 6.4% and income sank 32.1% year-on-year (YOY) in the first quarter (1Q/16). Citi indicated the higher cost of credit and rewards funding as a factor. Compared to its peer group, the Citi card portfolio was stable with outstandings (OUT) up slightly and purchase…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Among the biggest bank credit card issuers in the U.S., Capital One (COF) continues to lead the way in every metric, except charge-offs. Based on its current trajectory, COF will likely surpass Bank of America (BofA) as the nation’s second largest issuer. COF posted double digit year-on-year (YOY) gains in outstandings…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MasterCard continued to plow along in the first quarter (1Q/16) posting double-digit year-on-year (YOY) gains in all metrics, with the exception of net income. On a currency adjusted basis (FX), MasterCard’s global gross dollar volume (GDV) increased 13.2% YOY, purchase dollar volume (PDV) was up 12.2% YOY and cash dollar volume…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. Bank (USB)’s Payment Services division reports explosive year-on-year (YOY) growth in consumer credit card gross dollar volume (GDV), as well as a substantial YOY gain in credit card outstandings (OUT) for the first quarter (1Q/16). Payment Services includes consumer and business credit cards, stored-value cards, debit cards, corporate, government and…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The current threat and cybercrime environment is like a huge firestorm that keeps feeding itself. Data breaches turn into more account breaches and it becomes a cycle. At the same time, fraud attacks are evolving, and becoming more widespread in the first quarter. The latest status report from ThreatMetrix says breaches…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] New research reveals the Point of Sale (POS) terminals market size was over 32 million units in 2015, which is forecast to grow at 18.3% CAGR to reach 126 million units by 2023. The Global Market Insights study also found the POS Terminals Market size is forecast to be worth US$103.52…
