Perfect Storm Forms for U.S. Bank Credit Card Issuers Mid-Year 2017

The stage is set for rough seas for the U.S. card industry going forward. Three indicators signal risk new account bookings surged since 2011; active credit card lines now exceed $3.4 trillion; and 30-day credit card delinquency deteriorated in first quarter 2017. Exceeding year’s pace, Chase opened up 2.5 million accounts in 1Q/17, compared to…

V+MA+AXP+DFS Q1 U.S. CC GDV – V +20% AXP -6%

Gross dollar volume (GDV) for Visa, Mastercard, American Express and Discover credit cards (CC) in the U.S. climbed 9.4% year-on-year (YOY) in 1Q/17 reaching $793 billion, according to CardData. Visa led the way in the first quarter posting a 19.8% YOY gain for U.S. GDV, offsetting the American Express decline. Visa reported first quarter U.S.…

V+MA Q1 Canada PDV Solid Double-Digits FX YOY Growth Driven by MA

Purchase dollar volume (PDV) in Canada for Visa and Mastercard posted strong performance in the first quarter (1Q/17) up 16.4% year-on-year (YOY). Canadian cards-in-force (CIF) increased 5.9% YOY to 108 million, according to CardData. For 1Q/17, Visa posted a 430 basis points (bps) increase YOY in PDV, while Mastercard reported a 370 bps YOY PDV…

Visa’s Major TSP Expansion Targets Embedding Things Paying for Things

Eight out of 10 Americans have a strong interest in using connected devices to make purchases, with a keen eye toward security and data concerns. Meanwhile, Visa confirms it has signed 13 new partners to participate in its token service provider (TSP) program, as the payments industry shifts from plastic to digital and broader access…

V+MA 1Q/17 U.S. PTX Edges Upward Pushed by V Credit Cards

Purchase transactions (PTX) for Visa and Mastercard credit and debit cards in the U.S. grew by 4.8% year-on-year (YOY) in the first quarter (1Q/17) to 20.3 billion. The growth was driven by credit cards, and more specifically Visa. according to CardData. U.S. purchase transactions for Visa and Mastercard payment cards (debit+credit) hit 20,388 in 1Q/17, compared…

Sharpest Cyber Security Minds in the World to Meet This Fall

The sharp increase in cyber threats is throwing IT departments into turmoil dealing simultaneously with privacy concerns, regulation imperatives and security needs. Furthermore. the strategic importance of the CISOs, CIOs, CTOs roles have also changed to adapt to the constantly evolving playing field. The 3rd Global Cyber Security Leaders Summit is an interactive, invitation-only, event…

Bitcoin Gains Traction as Cannabis Dispensaries Demand a Payment Solution

Bitcoin had gained 157% year-to-date and dominated the cryptocurrency market with $43 billion market cap. Another digital currency, Ethereum, also skyrocketed this year. The price of Ethereum hit a new record high of $250 a coin on Sunday, with an increase of more than 2800% this year. Ethereum is now the second-most popular cryptocurrency. According…