U.S. Credit Card Charge-Offs Head North Crossing 300 bps

U.S. Credit Card Charge-Offs Head North Crossing 300 bps

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The charge-off rate, seasonally adjusted (SA), among the top 100 U.S. banks for the first quarter (1Q/16) increased 12 basis points (bps) sequentially (QTQ), and up 13 bps year-on-year (YOY). On a not seasonally adjusted basis (NSA), the charge-off rate among the top 100 U.S. banks for 1Q/16, rose 24 bps…

India Millennials Take to Purchases via Mobile

India Millennials Take to Purchases via Mobile

A new report finds 67% of millennials in India purchased goods via their mobile device. For those who shop using their mobile device, they do so more frequently—and with lower transaction values—than non-millennials. ACI Worldwide inaugural Indian FinTech Commerce & Payment Study asked approximately 400 employees in the FinTech space about their shopping habits and payment preferences…

Data Financial’s eWizPro Taking Vegas by Storm

Data Financial’s eWizPro Taking Vegas by Storm

Data Financial is celebrating ten years of growth with eWizPro, the company’s electronic gaming chip fill/credit and slot jackpot system for cage and count room operations. When initially introduced, eWizPro represented the first major technology leap from the manual, labor-intensive fill/credit process that many casinos have used, and still use today. Data Financial, Inc. earned…

Mobile Payments to Skyrocket 39% CAGR to $2.89 Trillion by 2020

Mobile Payments to Skyrocket 39% CAGR to $2.89 Trillion by 2020

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Global mobile payments are expected to grow by a compound annual growth rate (CAGR) of 39% through 2020. This year mobile payments are projected to hit $769 billion, rising to $2890 billion in 2020. According to a new report from FMI, global mobile payment transaction volume will grow by a massive…

Big 6 U.S. Issuer Outstandings Produce Weak YOY Gain

Big 6 U.S. Issuer Outstandings Produce Weak YOY Gain

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. credit card outstandings end-of-period (EOP) among the Big 6 issuers increased 1.5% in the first quarter (1Q/16) year-on-year (YOY) to $468.3 billion. The weak aggregate gain resulted from the huge YOY drop in American Express outstandings offset by the huge YOY gain in Capital One outstandings. The Big 6: American…

Consumer FOR and DSR Metrics Remain at Record Lows

Consumer FOR and DSR Metrics Remain at Record Lows

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Financial Obligations Ratio (FOR) and the Debt Service Ratio (DSR) for the first quarter (1Q/16) edged down a tad and continue to hover a record low levels. According to the Federal Reserve, on a seasonally adjusted basis, the FOR slipped downward to 15.31% in 1Q/16, compared to 15.36% in 4Q/15…

Global PDV for Major 4 U.S.-Based Networks Up 9.2% YOY FX

Global PDV for Major 4 U.S.-Based Networks Up 9.2% YOY FX

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Purchase dollar volume (PDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) globally rose 6.8% year-on-year (YOY) on a nominal dollars basis for the first quarter (1Q/16). However, on a currency adjusted basis (FX), global 1Q/16 PDV increased 9.2% YOY.  The major four networks posted $2367 billion in…

U.S. Credit Card Delinquency Remains at Historic Lows in 1Q/16

U.S. Credit Card Delinquency Remains at Historic Lows in 1Q/16

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The 30+ day delinquency rate, seasonally adjusted (SA), among the top 100 U.S. banks for the first quarter (1Q/16) decreased 3 basis points (bps) sequentially (QTQ), but up 6 bps year-on-year (YOY). On a not seasonally adjusted basis (NSA), the delinquency rate among the top 100 U.S. banks for 1Q/16, declined…

Other News: PYMNTS; ELAVON; EMAZZANTI; and AMEX

In Other News: PYMNTS (awards); ELAVON (ariane); EMAZZANTI (ranking); and AMEX (LGBTQ). PYMNTS – The winners of the 2016 PYMNTS/Alexa Challenge include Visa and USAA. There were 12 teams and 14 companies in a five-week competition to use Alexa and her voice-activated technology to reimagine how consumers interact with their payments and financial services solutions…

Verifone has Rough Sailing in 2Q and Will Cut Jobs & Review Weak Units

Verifone has Rough Sailing in 2Q and Will Cut Jobs & Review Weak Units

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Citing several difficult market dynamics in the second quarter, Verifone is reviewing underperforming businesses and launching a headcount restructuring. Verifone reported second quarter (2Q/16) net income nose-dived more than 80% year-on-year (YOY), with most of the growth coming from the North America segment. The recent InterCard and AJB Software Design acquisitions…