Visa’s U.S. payment card (credit+debit) purchase dollar volume (PDV), for the fourth quarter (4Q/16), logged its highest year-on-year (YOY) gain in more than three years, according to CardData. Visa posted a 12.4% in YOY PDV gain in 4Q/16, compared to 9.7% YOY PDV gain in 4Q/15, 10.1% YOY PDV gain in 4Q/14, and 8.5% YOY…
Australian credit card gross dollar volume (GDV) rose 5.8% year-on-year (YOY) in November. Purchase dollar volume (PDV) increased 6.2% YOY and cash dollar volume (CDV) declined 5.1% YOY in November, according to CardData. There has been growing concerns in the fourth quarter credit card spending is slowing, indicating 2017 could be even slower, given the…
Credit card fee income rose an estimated 6% in 2016, and is expected to increase 6.5% in 2017 driven by a rebounding economy. According R.K. Hammer interchange income increased from $40.0 billion in 2015 to $42.4 billion last year, as cash advance fee income rose 2.7% year-on-year (YOY) to $26.6 billion. Meanwhile, annual member fees…
PayPal continues to gain market share as total payment volume (TPV) soared 22% year-on-year (YOY) in the fourth quarter (4Q/16). However, the transaction margin declined 340 basis points (bps) in the quarter, compared to 4Q/15, according to CardData. During 2016, PayPal added 18 million active accounts, reflecting double digit YOY growth. Transaction revenues for 4Q/16…
U.K. consumer credit took a turn south in December signaling a difficult 2017 in the anticipation of the Brexit/Trump turbulence, and coming of the heels of the holiday spending binge. After rising 190 basis points (bps) year-on-year (YOY) in 2016, the YOY rise declined 20 bps in December, according to CardData. In December total consumer…
Mastercard’s U.S. purchase dollar volume (PDV) quarterly year-on-year (YOY) growth has been spiraling down this year tumbling to 2.7% in the fourth quarter (4Q/16), compared to 8.8% for 4Q/15, 8.2% for 4Q/14, and 7.6% for 4Q/13, according to CardData. Mastercard reported gross dollar volume (GDV) inched out a 2.6% gain YOY for the fourth quarter,…
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 double-digit YOY gain in credit card outstandings (OUT) for the fourth quarter (4Q/16), driven by acquisitions, according to CardData. Acquiring volume continued to decline for the third consecutive quarter. USB’s Payment Services…
New consumer credit card accounts added by Wells Fargo in the fourth quarter (4Q/16) nose-dived by 47% year-on-year (YOY) reflecting reduced marketing activities and customer reaction to the sales practices settlement, according to CardData. Consumer credit card purchase dollar volume (PDV) was up 6.9% year-on-year (YOY) as purchase transactions (PTX) rose by 10.2% for 4Q/16. The…
Dallas-based Alliance Data Systems (ADS) reported fourth quarter (4Q/16) year-on-year (YOY) profits sunk due to new legislation in Ontario prohibiting the time-based expiration of reward points associated with all loyalty programs. The cancellation of its 5-year expiration policy necessitated a change in ADS breakage estimate, according to CardData. ADS reported gross revenue rose 4.5% YOY…
The impact of the loss of the U.S. Costco and JetBlue programs continues to manifest itself in the American Express (AmEx) U.S. Card Services (USCS) unit during the fourth quarter (4Q/16), according to CardData. AmEx reported 4Q/16 gross revenue for USCS decreased 10.1% YOY to $3030 million, compared to $2902 million for the third quarter…
The nation’s third largest Visa and MasterCard issuer continued to struggle in the fourth quarter (4Q/16) with sluggish outstandings (OUT) and purchase dollar volume (PDV) growth, but other metrics, remain fairly stable, according to CardData. Pre-tax net income edged down 1.8% YOY to $1290 million in 4Q/16, compared to $1218 million in the prior quarter…
While not exploding, Discover’s (DFS) credit card portfolio continues to stay in positive territory. Year-on-year (YOY) growth in the fourth quarter (4Q/16) profits increased double digits reflecting a decline in marketing expenses for credit card marketing, according to CardData. Discover’s total revenue rose 6.9% YOY to $2358 million for 4Q/16, compared to $2301 million in…