Money 20/20 Europe Will be Nothing but Ginormous This Year

The world’s largest Fintech, Money 20/20 Europe (June 26-28), is all set for June in Copenhagen. While there are many FinTech gatherings this event is super cool as it is decidedly, European. It is ginormous too! In its first year, Money20/20 Europe attracted 3,725 attendees, including 500 CEOs, from 1,500 companies and 70 countries. The show featured 422 speakers, over 200…

Major 4 Network Adjusted PDV Up 6.5% YOY FX in Fourth Quarter

Purchase dollar volume (PDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) globally rose 20.0% year-on-year (YOY) on a nominal dollars basis for the fourth quarter (4Q/16). However, on a currency adjusted basis (FX), global 4Q/16 PDV increased 20.7% YOY, according to CardData. The fourth quarter PDV figures are skewed as Visa…

Major U.S. Issuer Outstandings Up Double-Digits Thanks to American Express & Costco

U.S. credit card outstandings end-of-period (EOP) among the Top 4 U.S.  issuers gained 10.9% in the fourth quarter (4Q/16) year-on-year (YOY) to $417.2 billion, according to CardData. The gain was driven largely by Citibank as its acquisition of the Costco card portfolio from American Express has skyrocketed outstandings. BofA was unseated as the nation’s second…

Credit Card Delinquency Remains Stable as Auto & Boat Delinquency Heads North

Delinquencies in bank cards (credit cards provided by banks) fell 5 basis points (bps) to 2.69% of all accounts, staying significantly below their 15-year average of 3.66%. However, delinquencies in closed-end loans (like auto and boat loans) rose. According to the American Bankers Association (ABA) among the 11 individual loan categories, delinquencies rose in all…

PayPal to Help Visa Expand VDEP & Visa Direct into the Asia Pacific Region

PayPal and Visa have extended their domestic partnership arrangement to outside the U.S., specifically Asia Pacific The partnership makes it easier for Visa issuing banks in Asia Pacific to offer their cardholders the ability to checkout anywhere PayPal is accepted online. It also expands the use of PayPal to retailers that accept Visa in physical…

EDGE Card Aims for Top Advanced Dynamic Payment Card in the Market

EDGE Mobile Payments and Nuvation Engineering have buddied for the development of the EDGE Card, its flagship product. The EDGE Card is looking to become the most advanced dynamic payment card within the Fintech market, featuring a full color touchscreen, digital storage of multiple credit and debit cards, along with biometric verification security. Edge Mobile…