Profits (after tax) among the nation’s top four bank credit card issuers rose 3.4% in the fourth quarter (4Q/15), compared to one year ago (YOY), but down 0.3% sequentially (QTQ). Aggregate card after tax profits for the top four issuers logged in at $2826 million for 4Q/15, compared to $2834 million in 3Q/15 and $2734…
Australian credit card outstandings edged up by 1.6% year-on-year (YOY) in February. Credit card credit limits increased 3.3% YOY and the number of credit card accounts rose 2.9% YOY. The average balance per account in February declined 1.7% to AU$3166, compared to AU$3106 for January, and AU$3222 for February 2015. Credit card outstandings for February hit…
The Big 6 issuers, based on U.S. total outstandings of $938 billion, continue to control 51.8% of the U.S. bank credit card business at the end of the fourth quarter (4Q/15). The big gainer among the Big 6 was Capital One, up 50 basis points (bps) quarter-to-quarter (QTQ), while the big loser was American Express…
Visa and MasterCard international card cash dollar volume (CDV) for the fourth quarter (4Q/15) posted $720 billion, compared to $709 billion in 3Q/15 and $798 billion one-year ago. However, the nominal year-on-year (YOY) change is meaningless. On a currency adjusted (FX) basis, for 4Q/15, CDV for Visa international credit cards have been declining steadily, down…
The average yield among the nations’s Top 4 bank credit card issuers came in at 11.58% for the fourth quarter (4Q/15), compared to 11.53% for the prior quarter, and 11.38% for 4Q/14. Capital One (COF), continues to lead the Top 4 with a 14.31% 4Q/15 yield while BofA was at the bottom with a 9.15%…
TX-based Perk.com reported total revenue increased by 155% year-on-year (YOY) to $17.7 million for the fourth quarter (4Q/15). Gross profit was $9.1 million, rising 51% YOY. The Perk.com fourth quarter was incredibly busy period. The Company partnered with NBC Universal to promote the launch of the Esquire Network’s first scripted series, which resulted in a 10%…
Atlanta-based Global Payments (GPN) reported first calendar quarter (1Q/16) [fiscal third quarter] gross revenues grew 2.2% year-on-year (YOY), while net income rose 10.4% YOY. Revenues for North America increased 1.1% YOY. GPN is on track to close its merger with Heartland Payment Systems (HPS) during the second quarter. GPN will acquire HPS in a cash-and-stock…
Citibank’s average yield for its U.S. retail credit card portfolio dropped 45 basis points (bps) in the fourth quarter (4Q/15), compared to the prior quarter, and down 31 bps year-on-year (YOY) to 16.49%. The net interest revenue (NIR) ratio, which includes some fees, also declined by 28 bps sequentially for 4Q/15, and up by 6…
U.S. Purchase Dollar Volume (PDV) among the top four bank card issuers, rose 8.7% year-on-year (YOY) and 4.7% sequentially in the fourth quarter (4Q/15). Capital One grew more than twice YOY than the peer group total. The top four U.S. issuers racked up $307.3 billon in PDV for 4Q/15, compared to $293.5 billion in 3Q/15…
Purchase transactions (PTX) for Visa and MasterCard credit and debit cards in the U.S. grew by 11.4% year-on-year (YOY) in the fourth quarter (4Q/15) to 19.9 billion. U.S. purchase transactions for Visa and MasterCard credit cards came in at 6388 million for 4Q/15, compared to 6133 million for the prior quarter and 5718 million in the…
Profits for the top four networks rose 20.1% year-on-year (YOY) in the fourth quarter (4Q/15). Visa, MasterCard, American Express and Discover reported a combined 4Q/15 profit of $4130 million, compared to $3895 million for 3Q/15 and $3439 for 4Q/15. Visa and Discover profits jumped 24% YOY in 4Q/15, compared to 20% for American Express and…
Visa continues to rule the market, growing its U.S. GDV marketshare from 57.8% in 4Q/14 to 58.3% in 4Q/15, largely at the expense of American Express. The nation’s four major payment card networks produced $1443 billion in U.S. gross dollar volume (GDV) in the fourth quarter (4Q/15) for an 8.1% year-on-year (YOY) gain. Visa posted…