About a third of Americans say they either exclusively make holiday season purchases using credit cards (15%) or that they make more purchases on credit than they do using cash or debit cards (17%). Thirteen percent (13%) use each in equal measure, while roughly half (49%) say they use cash/debit either predominately (20%) or exclusively (29%).
Despite, the lowest levels of delinquencies and net charge-offs, US credit card asset quality are expected to weaken modestly in 2016. The slowdown in asset quality improvement does not signal material credit deterioration over the near to intermediate term, but portfolio seasoning and recent growth will also weigh more heavily on credit quality metrics in 2016.
CardFlash News Briefs: TSYS (CQM); HEARTLAND (LiquorPOS); MEMBER SOLUTIONS (PCI-DSS); and CARDFLIGHT (TSYS).
Cash transactions (CTX) for Visa and MasterCard credit and debit cards in the U.S. grew by 0.8% year-on-year (Y/Y) in the third quarter. Visa cash transactions are growing at a year-on-year (YOY) rate of 0.5%, compared to MasterCard’s 1.5%, according to CardData.
Fraud average ticket value (ATV), or a retailer’s average size of individual sales by credit card, has decreased by $9.00 over the past year from $282 to $273, however the frequency of fraud has increased and it is also driven by lower shipping costs.
Nodus Technologies’ PayLink developed by Professional Advantage, Collections Management for Microsoft Dynamics GP speeds up the collection process, decreases security risks, and provides customer convenience. it has the processing power to improve cash flow, diminish collection time and reduce bad debt.
Barclaycard has unveiled the launch of its unlimited cash rewards credit card, the Barclaycard CashForward World MasterCard. Cardholders earn unlimited 1.5% cash rewards on every purchase and a 5% redemption bonus to use toward their next redemption every time they redeem.
Revel Systems, an iPad POS specialist, has snagged a big strategic partner deal with Cinnabon, a national bakery.
CA-based Applied Merchant Systems (AMS) acquired a strategic ISO with over 10,000 merchant accounts contributing over $2.2 billion in annual processing volume.
More than six billion VantageScore credit scores were used in the 12-month period running from 3Q/14 to 2Q/15. The Company says it is a 100% increase over the previous 12-month period.
CardFlash News Briefs: FDC (NCR); Nuspay (Nepal); ALLIED WALLET (j2Store); and AMEX (UAE).
Synchrony Financial is now officially separated after GE stock exchange for $20.4 billion. The consummation of the exchange offer completes the transition of Synchrony, the largest provider of private label credit cards in the United States*, to an independent, standalone company.