BofA CC Portfolio Growth Impaired; Risk Metrics Solid

BofA CC Portfolio Growth Impaired; Risk Metrics Solid

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The nation’s second largest Visa and MasterCard issuer, Bank of America (BofA), to be unseated by Capital One in 2016, continues to struggle with sluggish outstandings (OUT) and purchase dollar volume (PDV) growth, but other metrics, especially credit risk management are above peer group averages Year-On-Year (YOY). Pre-tax net income edged…

Chase 1Q/16 Mixed Bag: PDV-OUT-DEL-OUT-Attrition Up

Chase 1Q/16 Mixed Bag: PDV-OUT-DEL-OUT-Attrition Up

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] After a credit card bruising in 2015, Chase, the nation’s largest bank credit card issuer, rebounded in the first quarter (1Q/16) as outstandings (OUT) and purchase dollar volume (PDV) entered positive territory. However, delinquency (DEL) and charge-offs (CO) edged upward both Year-On-Year (YOY) and sequentially (QTQ). Furthermore, the account base remains…

US EMV Reeling from Merchant & Consumer Frustration

US EMV Reeling from Merchant & Consumer Frustration

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The EMV migration in the U.S. turned the payment card market on its head during the first quarter (1Q/16), as merchants struggled to catch up and assist/educate frustrated customers. During 1Q/16 EMVCo updated its EMV Payment Tokenization Specification – Technical Framework bulletin. The update will provide the payment community with a…

V+M Intl Debit Card Cash Transactions Continue Robust

V+M Intl Debit Card Cash Transactions Continue Robust

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] International cash transactions (CTX) for Visa and MasterCard credit and debit cards grew by 8.2% year-on-year (YOY) in the fourth quarter (4Q/15). International CTX for credit cards decreased 4.6% YOY while international CTX for debit cards rose 9.2% YOY in 4Q/15. In the fourth quarter gross international payment card cash transactions…

Top 4 Issuers Active Accounts Deteriorate Except COF

Top 4 Issuers Active Accounts Deteriorate Except COF

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. bank credit card active accounts (AAC) (accounts with sales activity), among the Top 4 U.S. issuers, slipped 1.5% year-on-year (YOY) in the fourth quarter (4Q/15). Capital One was the only issuer to post a positive YOY AAC gain in the fourth quarter. While Chase and BofA had slight erosion, Citibank…

WEX Fleet Solutions Payment Processing TX +7.1% YOY

WEX Fleet Solutions Payment Processing TX +7.1% YOY

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] ME-based fuel card kingpin, WEX, reported fourth quarter (4Q/15) total revenue inched up 0.3% year-on-year (YOY), while net income dropped by -54.7% YOY in 4Q/15. Total revenue was $212.6 million for 4Q/15, compared to $226.1 million in 3Q/15, and $211.9 million for 4Q/14. Net income was $21.4 million for 4Q/15, compared…

U.S. Credit Card Gross TX Outpace Debit by 90bps

U.S. Credit Card Gross TX Outpace Debit by 90bps

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. gross transactions (GTX) for Visa and MasterCard credit and debit cards grew by 10.7% year-on-year (YOY) in the fourth quarter (4Q/15). U.S. GTX for credit cards jumped 11.3% YOY while U.S. GTX for debit cards increased 10.4% YOY in 4Q/15. Visa’s U.S. GTX for credit cards rose 11.0% YOY as…

Big 6 U.S. Credit Card Profits Rise 8.5% YOY Topping $4.1B

Big 6 U.S. Credit Card Profits Rise 8.5% YOY Topping $4.1B

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Profits (after tax) among the nation’s Big 6 U.S. credit card issuers jumped 8.5% in the fourth quarter (4Q/15), compared to one year ago (YOY) but, declined 2.7% sequentially (QTQ). Aggregate card after tax profits for the Big 6 issuers logged in at $4125 million for 4Q/15, compared to $4240 million…

Citi’s Asia and LAC Card Portfolio Metrics Remain Solid

Citi’s Asia and LAC Card Portfolio Metrics Remain Solid

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Citibank’s international credit card portfolio continued to contract in the fourth quarter (4Q/15). The number of open or gross accounts (GAC) declined 100,000 in the Latin America region (LAC) and by 200,00 in Asia. 
On a non-currency adjusted basis, Citibank LAC purchase dollar volume (PDV) declined to $6.7 billion from $7.6…

Alliance Data Profits is Skyrocketing Post 150%+ YOY Gains

Alliance Data Profits is Skyrocketing Post 150%+ YOY Gains

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Dallas-based Alliance Data Systems reported fourth quarter (4Q/15) revenue increased 16.9% year-on-year (YOY) to $1749 million. Net income skyrocketed 157% to $172 million for 4Q/15. For the fourth quarter Card Services revenue rose 20% to $785 million; Epsilon revenue increased 38% to $608 million; and LoyaltyOne revenue decreased 9% to $364 million,…

MoneyGram Turns the Corner to Positive TX Growth

MoneyGram Turns the Corner to Positive TX Growth

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] After repositioning its U.S. to U.S. business following the loss of the Walmart account MoneyGram continues to turn the corner in the fourth quarter (4Q/15). MoneyGram total revenues climbed 7.8% year-on-year (YOY) to $376.7 million. However, net income fell sharply by 75.2% YOY to $2.6 million. MoneyGram notes it posted double-digit…