Among the top 4 U.S. bank credit card issuers Chase holds a commanding 24.7% marketshare, based on Visa and MasterCard purchase dollar volume (PDV) figures. Capital One, the hottest U.S. issuer, ranks #2 with a 12.4% marketshare.
Capital One’s (COF) international credit card outstandings, not currency adjusted, increased 6.7% year-on-year (YOY) in the third quarter (3Q/15), while purchase dollar volume (PDV) soared 60.5% YOY. Delinquency dropped 69 basis points (bps) and charge-offs sunk 152 bps YOY.
U.S. gross transactions (GTX) for Visa and MasterCard credit and debit cards grew by 9.8% year-on-year (YOY) in the third quarter (3Q/15). U.S. GTX for credit cards jumped 12.2% YOY while U.S. GTX for debit cards increased 8.8% YOY in 3Q/15.
The Big 6 issuers, based on U.S. outstandings of $925 billion, controlled 51.8% of the U.S. bank credit card business at the end of the third quarter. Chase led the pack with a 13.7% share followed by Bank of America (BofA) at 9.5%; Capital one (COF) at 8.9%; Citibank (Citi) at 7.0%; American Express (AXP) at 6.7%; and Discover (DS) at 6.3%.
U.S. Purchase Dollar Volume (PDV), credit and debit cards, among the Big 6 U.S. card issuers, rose 6.6% year-on-year (YOY) and 0.5% sequentially in the third quarter. Capital One completely blew out the Big 6 pack by a 3-to-1 margin.
The nation’s four major payment card networks produced $1400 billion in U.S. gross dollar volume (GDV) in the third quarter (3Q/15). Visa continues to rule the market, growing its U.S. GDV marketshare from 58.1% in 3Q/14 to 58.7% in 3Q/15, largely at the expense of American Express.
On again, off again, but now UnionPay has buddied up to bring Apple Pay into China. In a few months China UnionPay cardholders will be able to add their bank cards to Apple Pay on iPhone, Apple Watch and iPad.
IL-based Infinite Peripherals has unveiled an all-in-one EMV/Chip and PIN mobile POS solution. The Infinea mPOS and Infinea mPOS Flat solutions are for the iPhone 5 and iPod touch 5th and 6th generation.
CardFlash News Briefs: WESTERN UNION (websites); AVIDIA (Apple Pay); THE BANCORP (execs); and BERG INSIGHT (report).
Clip, empowering merchants to accept all payment methods in Mexico has snagged another US$8 million in funding.
Starting Monday MasterCard cardholders using Apple Pay can travel for free around London over the next four consecutive Mondays. Customers using MasterCard with Apple Pay need to touch in and out on London’s transport network using their Apple device and they will have their fares refunded by MasterCard on any of the Fare Free Mondays.
Walgreens Balance Rewards members can now seamlessly use their account through Apple Pay – without separately scanning a Balance Rewards card or barcode. More than 85 million active Balance Rewards members will have the ability to earn and redeem loyalty points via Apple Pay.