Profits (after tax) among the nation’s top four bank credit card issuers declined 8.0% in the first quarter (1Q/16), compared to one year ago (YOY), and down 10.8% sequentially (QOQ). BofA was the only issuer with a positive YOY gain in credit card profits. Citi credit card profits collapsed by more than 30% YOY in…
Australian credit card gross dollar volume (GDV) headed upward, posting a 10.9% year-on-year (YOY) in May. Purchase dollar volume (PDV) increased 10.7% YOY and cash dollar volume (CDV) was 15.5% YOY in May. GDV rose in May to AU$26.9 billion, compared to a revised AU$24.3 billion in the prior month and AU$24.3 billion one-year ago.…
Profits (after tax) among the nation’s Big 6 U.S. credit card issuers declined 4.9% in the first quarter (1Q/16), compared to one year ago (YOY) and, down 2.0% sequentially (QTQ). Aggregate card after tax profits for the Big 6 issuers logged in at $3789 million for 1Q/16, compared to $3867 million for 4Q/15 and $3984…
International cash transactions (CTX) for Visa and MasterCard credit and debit cards grew by 8.7% year-on-year (YOY) in the first quarter (1Q/16). International CTX for credit cards decreased 1.2% YOY while international CTX for debit cards rose 9.4% YOY in 1Q/16. In the first quarter gross international payment card CTX for Visa and MasterCard came…
A new report finds commoditization has not reached small business banking in full force — at least not yet. But as the effects of technology and the rise of nonbank providers facilitate fragmentation of financial relationships, FIs will begin to see the same trend among small business customers who have propensity to switch banks. The…
A report finds the boom of mass consumption in major developing markets—and mobile internet access everywhere—fueling a surge in demand for new methods of cashless payment. This is transforming the industry as new competitors and business models rush in to meet the needs of every imaginable consumer cohort and use-case. Across the planet, traditional banks…
U.S. bank credit card active accounts (AAC) (accounts with sales activity), among the top six U.S. issuers, inched up 0.8% year-on-year (YOY) in the first quarter (1Q/16). There were 158.4 million active bank credit card accounts for 1Q/16 in the U.S. among the top six issuers: Citibank; Capital One; Chase, Bank of America, Discover and…
U.S. credit card marketshare, based on purchase dollar volume (PDV) among the top 4 U.S. bank credit card issuers, shows Citi was the only issuer with a positive gain in the first quarter (1Q/16), compared to the prior quarter. While Chase continues to hold a commanding 24.5% marketshare for 1Q/16, there was a 10 basis…
Visa and MasterCard international credit card gross dollar volume (GDV) for the first quarter (1Q/16) rose 10.8%, on a currency adjusted basis (FX), year-on-year (YOY). For international debit cards, Visa and MasterCard GDV increased 12.6% YOY FX. Visa outpaced MasterCard in international credit cards 1Q/16 YOY FX growth, while MasterCard took the lead in international…
U.S. Gross Dollar Volume (GDV) among the big six U.S. bank card issuers, rose an estimated 5.9% year-on-year (YOY) but down 8.1% sequentially in the first quarter (1Q/16). Capital One grew more than twice than the other five. Capital One, like most bank credit card issuers, only reports purchase dollar volume (PDV). The top six…
May U.S. consumer revolving credit card debt remains weak growing at an annual rate of +3.0%, compared to a revised +1.7%% in April and a revised +13.2% in March. Overall consumer credit increased at a seasonally adjusted annual rate of +6.2% in May. Non-revolving credit increased at an annual rate of +7.3%. Total revolving credit…
The average late stage U.S. credit card delinquency (90+ day) among the nation’s top four issuers edged down 1 basis points (bps) sequentially, but up 5 bps year-on-year (YOY) for the first quarter (1Q/16). Early stage delinquency, the precursor of 90+ day delinquency, among the peer group, also declined in 1Q/16. For the Top 4 U.S.…