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…
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 third quarter (3Q/16). Revenue and income declined significantly year-on-year (YOY) as outstandings (OUT) also took a big hit, all by double-digits. AmEx reported 3Q/16 gross revenue for…
U.K. consumer credit continued to expand at a brisk pace in August, topping 10% year-on-year (YOY). In August total consumer credit grew to £187.9 billion. The three-month annualized and twelve-month growth rates, seasonally adjusted (SA), were 10.4% and 10.3% respectively. The Bank of England (BOE) reports consumer credit increased by £1.6 billion in August, in…
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 third quarter (3Q/16). Payment Services includes consumer and business credit cards, stored-value cards, debit cards, corporate, government and purchasing card services, consumer…
Australian credit card gross dollar volume (GDV) rose 9.9% year-on-year (YOY) in August. Purchase dollar volume (PDV) increased 10.2% YOY and cash dollar volume (CDV) declined 0.2% YOY in August. GDV rose in August to AU$27.6 billion, compared to a revised AU$24.3 billion in the prior month and a revised AU$25.1 billion one-year ago. PDV…
A new survey finds cross-border e-commerce has become prevalent among consumers around the world. It’s no surprise that consumers frequently make domestic online purchases (94%), however more than two-thirds (66%) of consumers that have ever made a domestic online purchase have also made an online purchase from another country in the past year. The third…
Bank card delinquencies edged up 1 basis point to 2.48 percent of all accounts in the second quarter. They remain significantly below their 15-year average of 3.70 percent. According to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin, delinquencies in closed-end loans fell slightly in the second quarter, driven by a drop in…
About 56% of retailers indicate their top digital priority is to create a consistent brand experience across channels. Retailers understand that consumers expect a personalized, seamless experience wherever, whenever and however they shop and they are focused on delivering a unified experience. According to the BRP 2016 Digital Commerce Survey, today’s unified commerce imperative moves…
Gross dollar volume (GDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) in the U.S. climbed 6.8% year-on-year (YOY) in 2Q/16 reaching a record $1482 billion. Visa led the way in the second quarter posting a 9.0% YOY gain for U.S. GDV. Visa reported second quarter GDV of $883 billion, compared…
Consumers credit card behavior improved since exiting the recession as evidenced by the growth of credit card limits in particular among the subprime credit card market. Yet, even with the solid improvements, the year-over-year figures indicate a slight increase in delinquency rates. Experian found the first six months of 2016 has shown that the total…
A new survey (58%) of consumers who have a credit card found they preferred cash back rewards, topping interest in travel rewards, store promotions and introductory interest rates or bonus rewards. Furthermore, the study found 66% would be interested in a credit card that would give an additional bonus on cash back rewards if those…
The growth of U.S. middle market firms (companies between $10 million and $1 billion in revenues) is outpacing the national average, with an 87% increase in number of firms, a 103% surge in employment, and a 100% rise in revenue since 2011. The latest Middle Market Power Index: A Detailed Look at Top Industries from…