Wells Fargo Delivers Above Peer Group PDV Gains; Outstandings Remain Strong

Wells Fargo Delivers Above Peer Group PDV Gains; Outstandings Remain Strong

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Wells Fargo first quarter (1Q/16) consumer credit card purchase dollar volume (PDV) soared 13.6% year-on-year (YOY) as purchase transactions (PTX) rose by 11.2%. Active mobile users of Wells Fargo surged 18.8% YOY. Average consumer credit card 1Q/16 outstandings grew 9.6% YOY to $33.1 billion, compared to $34.0 billion for 4Q/15 and $30.1…

Finacle to Use Samsung SDS FIDO for Payment Biometrics

Finacle to Use Samsung SDS FIDO for Payment Biometrics

Infosys Finacle, a/k/a EdgeVerve Systems, has inked a global partnership with Samsung SDS to provide end customers with a more secure, fast and convenient way to use mobile banking and payment services. This partnership offers financial services customers a seamless user experience and hassle-free access without lengthy authentication processes. This will be achieved using device…

MC Joins Visa in the Need for Speed with New M/Chip Fast

MC Joins Visa in the Need for Speed with New M/Chip Fast

To beef up its existing technology to help speed EMV transactions and shoppers through checkout lines, MasterCard has unveiled M/Chip Fast. Developed on the principles of contactless or ‘tap-and-go’ technology, M/Chip Fast effectively prioritizes the parts of transactions that are critical to security. MasterCard says cardholders can expect to experience speeds closer to the familiar…

Citi N.A. Card Income Falls; OUT & PDV Up; Metrics Stable

Citi N.A. Card Income Falls; OUT & PDV Up; Metrics Stable

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Citibank North America branded credit card revenues declined 6.4% and income sank 32.1% year-on-year (YOY) in the first quarter (1Q/16). Citi indicated the higher cost of credit and rewards funding as a factor. Compared to its peer group, the Citi card portfolio was stable with outstandings (OUT) up slightly and purchase…

COF Still Smokin and Aiming for #2; CO Up & Margins Down

COF Still Smokin and Aiming for #2; CO Up & Margins Down

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Among the biggest bank credit card issuers in the U.S., Capital One (COF) continues to lead the way in every metric, except charge-offs. Based on its current trajectory, COF will likely surpass Bank of America (BofA) as the nation’s second largest issuer. COF posted double digit year-on-year (YOY) gains in outstandings…

Diners Club to Get e-Supercharged via Computop

Diners Club to Get e-Supercharged via Computop

Discover’s Diners Club International has inked a deal with Germany’s Computop to increase e-commerce acceptance for Discover, Diners Club and Alliance Partner cards. This agreement is part of Discover Global Network’s ongoing effort to increase global acceptance, both online and in-store, through partnerships with leading payment service providers. By working with Computop, all cards running…

China’s UnionPay Issues its First U.S. Credit Card

China’s UnionPay Issues its First U.S. Credit Card

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] UnionPay International and Industrial and Commercial Bank of China US (ICBC US) have issued the first UnionPay credit card in New York. It’s both the first UnionPay credit card issued in the US market and the first credit card issued by a Chinese commercial bank in the US. UnionPay and ICBC…

BRIEFS – PURPLE DECK; BOEING; DIGITAL RIVER; and ANYWHERE

In Other News: PURPLE DECK (NFC); BOEING (Citi); DIGITAL RIVER (awards); and ANYWHERE (EMV). PURPLE DECK – Purple Deck Media has joined the NFC Forum. Recently, the company has adopted the N-Mark to further improve the recognition and acceptance of NFC’s wireless interaction between consumer technology, mobile devices, personal computers, and NFC compatible tags. Purple…

Visa Global Volume Growth Robust - PDV & PTX 12%+ YOY

MC Posts Double Digit Games in All Metrics, Except Profits

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MasterCard continued to plow along in the first quarter (1Q/16) posting double-digit year-on-year (YOY) gains in all metrics, with the exception of net income. On a currency adjusted basis (FX), MasterCard’s global gross dollar volume (GDV) increased 13.2% YOY, purchase dollar volume (PDV) was up 12.2% YOY and cash dollar volume…