Early stage delinquency (30+ days) among the nation’s top 6 issuers climbed 5 basis points (bps) sequentially in the fourth quarter (4Q/15) to 1.81%, but remains below last year’s 1.84%. Five of the Big 6, including Chase, Bank of America, Capital One. Citibank, and Discover, posted higher delinquency in 4Q/15. However, American Express remained flat…
U.S. credit card outstandings end-of-period (EOP) among the Big 6 issuers decreased 0.3% in the fourth quarter year-on-year (YOY) to $485.5 billion. The decline was driven by American Express and offset by Capital One. American Express U.S. EOP credit card outstandings nosedived 17.9% to $51.4 billion, compared to $62.1 billion in the prior quarter and…
Average early stage delinquency (30+ days) for the fourth quarter (4Q/15), among the nation’s top four issuers, edged up by 6 basis points (bps) sequentially, but dropped year-on-year (YOY) by 3 bps. All of the top issuers posted higher delinquency for the quarter. The nation’s largest issuer, Chase, reported delinquency increased to 1.43% in 4Q/15,…
Global purchase transactions (PTX) for Visa and MasterCard debit and credit cards, excluding Visa Europe, soared 14.3% year-on-year (YOY) in the fourth quarter (4Q/15) and 6.5% sequentially. The two networks combined processed 40.8 billion purchase transactions in 4Q/15, compared to 35.7 billion one-year ago. Visa posted a 13.3% YOY gain in PTX to 24.7 billion…
U.S. Purchase Dollar Volume (PDV), credit and debit cards, among the Big 6 U.S. card issuers, rose 6.1% year-on-year (YOY) and 4.4% sequentially in the fourth quarter. Capital One completely blew out the Big 6 pack by a 3-to-1 margin. he Big 6 U.S. issuers racked up $520.6 billon in PDV for 4Q/15, compared to…
Charge-offs among the nation’s top four U.S. issuers dropped 10 basis points (bps) year-on-year (YOY) to 2.87%, and up 19 bps sequentially for the fourth quarter (4Q/15). Soaring Capital One losses drove the sequential gain for the peer group. The Chase 4Q/15 charge-offs ratio inched up by 1 bps from 3Q/15 but is down 27…
U.S. Purchase Dollar Volume (PDV) for Visa and MasterCard (credit + debit) in the fourth quarter (4Q/15) grew at an annual rate (YOY) of 8.6%. Visa U.S. payment card (credit + debit) PDV for 4Q/15 was up 9.5%. MasterCard U.S. payment card (credit + debit) PDV for 4Q/15 was up 8.8%. U.S. PDV for Visa…
Wells Fargo fourth quarter (4Q/15) consumer credit card purchase dollar volume (PDV) rose 12.5% year-on-year (YOY) as purchase transactions (PTX) soared by 14.6%. Average consumer credit card 4Q/15 outstandings grew 9.3% YOY to $34.0 billion, compared to $32.3 billion for 3Q/15 and $31.1 billion for 4Q/14. Consumer credit card PDV for the fourth quarter stood…
Debt collection, identity theft and imposter scams were the most common categories of consumer complaints received by the Federal Trade Commission’s Consumer Sentinel Network in 2015, according to the agency’s new data book. While debt collection complaints rose to the top spot among complaint categories, the report notes that this was due in large part…
New research shows cross-border commerce is still in its nascent stages and merchants remain unprepared to welcome international shoppers. Cross-border sales are expected to account for about 15% of total global e-commerce sales by 2018. According to the latest PYMNTS.com X-Border Index powered by Digital River, the average merchant scored 57 on a scale of…
U.S. Bank (USB) reports net interest income for Payment Services rose 10.4% year-on-year (YOY) in the fourth quarter (4Q/15) driven by improved loan rates and higher average loan balances and fees. Net income for Payment Services rose 7.2% YOY to $326 million for 4Q/15, compared to $320 million in the prior quarter and $304 million…
Visa’s fourth quarter net income jumped 24% year-on-year (YOY) to $1.9 billion. Excluding the Visa Europe put option, 4Q/15 profits rose 7% to $1.7 billion. Global purchase volume rose 9.0% (FX) to $1.89 trillion and total processed transactions, which represent transactions processed by VisaNet, for the third quarter, were 19.0 billion, an 8% increase over…