U.S. Purchase Dollar Volume (PDV) for Visa and MasterCard payment cards (credit + debit) in the third quarter (3Q/16) grew at an annual rate (YOY) of 8.6% YOY. U.S. Visa and MasterCard reported payment card PDV of $1093 billion for 3Q/16, compared to $1085 billion in the prior quarter, and $1006 billion in the year…
Australian credit card gross dollar volume (GDV) rose 3.6% year-on-year (YOY) in October. Purchase dollar volume (PDV) increased 3.8% YOY and cash dollar volume (CDV) declined 3.3% YOY in October. GDV rose in October to AU$26.4 billion, compared to a revised AU$26.1 billion in the prior month and a revised AU$25.5 billion one-year ago. PDV…
U.S. credit card outstandings end-of-period (EOP) among the Top 4 U.S. issuers gained 9.1% in the third quarter (3Q/16) year-on-year (YOY) to $394.5 billion. The gain was driven largely by Citibank as its acquisition of the Costco card portfolio from American Express has skyrocketed outstandings. BofA was unseated as the nation’s second largest in the second…
Gross dollar volume (GDV) for Visa, MasterCard, American Express and Discover credit cards in the U.S. climbed 7.5% year-on-year (YOY) in 3Q/16 reaching a record $804 billion. Visa led the way in the third quarter posting a 18.1% YOY gain for U.S. GDV. Visa reported third quarter U.S. credit card GDV of $424 billion,…
The rapid pace of technological and societal change has given government CIOs a new sense of urgency and a willingness to experiment with smart city and open data initiatives. By 2019, 50% of citizens in million-people cities will benefit from smart city programs by voluntarily sharing their personal data. Research firm, Gartner, predicts 20% of…
Imports are up a healthy amount over this time last year, and that’s a good sign for holiday sales and the economy. Imports at the nation’s major retail container ports are expected to be up 3.2% this month over the same time last year as stores bring in the last of the merchandise for the…
Dozens of credit unions, some with as few as 300 members, are now offering the FICO Score Open Access program to their customers as a way to empower them to take control of their financial health. To-date 180 million consumer accounts are now getting their FICO Scores for free. The FICO Score Open Access program…
Wells Fargo third quarter (3Q/16) consumer credit card purchase dollar volume (PDV) was up 7.1% year-on-year (YOY) as purchase transactions (PTX) rose by 11.4%. Active mobile users of Wells Fargo surged 17.5% YOY. Average consumer credit card 3Q/16 outstandings grew 8.4% YOY to $35.0 billion, compared to $34.1 billion for 2Q/16 and $32.3 billion for 3Q/15.…
U.S. consumer revolving credit card soared in August, growing at an annual rate of +7.0%, compared to a revised +3.4% annual rate in July and a revised +11.4% annual rate in June. Overall consumer credit increased at a seasonally adjusted annual rate of +8.5% in August. Non-revolving credit increased at an annual rate of +9.0%.…
Synchrony Financial’s retail credit card business revenues posted an 11.2% year-on-year (YOY) gain for the third quarter (3Q/16) to $2.79 billion. Retail card outstandings continue to be aided by the recent acquisition of the BP portfolio during the second quarter. During the quarter Synchrony renewed key relationships – TJX Companies, hhgregg, Nationwide Marketing Group and…
Australian credit card outstandings rose by 1.4% year-on-year (YOY) in August. Credit card credit limits increased 2.7% YOY and the number of credit card accounts rose 2.7% YOY in August. Article – Australian credit card outstandings rose by 1.4% year-on-year (YOY) in August. Credit card credit limits increased 2.7% YOY and the number of credit…
Dallas-based Alliance Data Systems (ADS) reported a third quarter (3Q/16) year-on-year (YOY) surge in credit card outstandings, purchase dollar volume (PDV) and Card Services revenue. Overall revenue and income were pressured by currency exchange rates (FX). ADS reported gross revenue rose 18.7% YOY in 3Q/16 to $1886 million, compared to $1749 million for 2Q/16, and…