American Express (AmEx) fourth quarter (4Q/15) profits rose year-on-year (YOY) by 20.0% to $799 million. U.S. credit card outstandings declined 18.0% YOY to $51.4 billion, compared to $62.1 billion in the prior quarter and $62.6 billion in year ago quarter. U.S. credit card Purchase Dollar Volume (PDV) rose 5.0% YOY to $152.3 billion, compared to…
Capital One (COF) continues to lead the U.S. credit card industry in outstandings and volume growth, posting a strong 13% year-on-year (YOY) gain in end-of-period (EOP) outstandings and a whopping 18% surge in Purchase Dollar Volume (PDV) for the fourth quarter. As the most U.S. inclusive issuer, COF U.S. cards reported a 6% YOY gain…
While U.S. finance executives are less optimistic than last year, their confidence in the U.S. economy remains above the global average of 65%. According to a new survey from American Express and CFO Research, 75% of U.S. finance executives report that their companies’ revenues are higher now than a year ago, outperforming any other country…
CT-based CardFellow released an infographic version of its popular blog post offering detailed information about the rules surrounding surcharges. The infographic combines information on card brand regulations, consumer opinions of surcharging, and details on credit card usage in order to highlight the multiple facets involved. Credit card processing costs have long been a thorn in…
The total number of MasterCard processed transactions passed the 1 billion mark in Europe last year – an increase of 150% from 2014. MasterCard’s latest figures reveal that the UK is leading the way with the number of active contactless cards in circulation growing by 188% in the UK, and contactless expenditure growing by 375%…
About 75% of U.S. adults own smartphones or tablets, and 70% of them would be interested in their financial institution providing more personalized service to them on their mobile device when they enter a branch of their bank or credit union or use an ATM if they grant permission. Mercator Advisory Group’s most recent Insight…
Still-low oil prices could prove to be a boon for already-strong U.S. credit card ABS performance in the coming months. According to Fitch Ratings oil price declines are leading to a sustained drop in gasoline and heating oil prices this winter, which is adding more savings into U.S. households. Fitch notes this could benefit certain…
The Singaporean payment cards market grew at a CAGR of 3.3% during the period 2012 -2014 and is expected to grow at a CAGR of 2.7% over the period 2015 – 2020. ARTICLE: The Singaporean payment cards market grew at a CAGR of 3.3% during the period 2012 -2014 and is expected to grow at…
The number of identity fraud victims increased by three percent (13.1 million consumers) in the U.S. last year, but that the amount stolen decreased by six percent to $15 billion. The annual 2016 Identity Fraud Study by Javelin also found the rise of EMV has already had a significant impact on fraudsters’ behavior and doubled…
Wells Fargo credit card third quarter outstandings were up 15.3% year-on-year (YOY) to $34.0 billion reflecting new account growth and growth in private label and co-brand outstandings. Purchase Dollar Volume (PDV) grew 12% YOY in 4Q/15. For the Fourth quarter, Wells posted $18.9 billion in PDV, compared to $18.3 billion in prior quarter. The number…
Electronic Commerce International (ECI), a registered provider of data security and secure, reliable Visa and MasterCard credit card processing for businesses, unveils ECI Consumer Finance, its new multi-lender, credit based and no-credit based (retail, brick and mortar businesses only) online platform consisting of over twenty lenders. Lenders can be mixed and matched to provide merchants…
Credit Karma announced has signed up its 50 millionth member, a major milestone that gives the online personal finance platform insight into more than one-fifth of America’s total household debt. Credit Karma’s 50 million-strong member base accounts for 22% of all Americans with a credit profile in the United States, who use the platform to…