ADS Q1 Exceeds Expectations – Segments Pumping on All Cylinders

Dallas-based Alliance Data Systems (ADS) reported first quarter (1Q/17) year-on-year (YOY) profits declined but Loyalty One, Epsilon, and especially Card Services, all posted strong first quarter YOY performance, according to CardData. ADS reported gross revenue rose 12.1% YOY in 1Q/17 to $1879 million, compared to $1828 million for 4Q/16, and $1676 million for 1Q/16. Net…

Debit Cards More Secure with Growing Popularity Among Small Businesses

Purchases of goods and services totaled $9.550 trillion in 2015, up 3.4% year-on-year (YOY). The four card-based methods of payment of credit, debit, prepaid, and electronic benefits transfer generated $5.665 trillion in purchases or 59.32% of all consumer payment systems volume. Credit cards accounted for $2.932 billion, 30.70% of volume. Debit cards accounted for $2.420,…

Free Chip and Swipe Card Reader for In-Person Selling in U.S. is Here

With Europay, MasterCard and Visa (EMV) support, the new Chip and Swipe reader lets any Shopify merchant in the United States sell offline in a fast and secure way. The card reader was launched at Unite, Shopify’s annual partner and developer conference. Shopify makes every aspect of starting, running and growing a business easier. With…

AXP USCS Pinched by Costco Card Loss – Q1 Delinquency & Charge-Offs Rise

The impact of the loss of the U.S. Costco and JetBlue programs continues to manifest itself in the American Express (AmEx) U.S. Card Services (USCS) unit during the first quarter (1Q/17), according to CardData. AmEx reported 1Q/17 gross revenue for USCS decreased 8.0% YOY to $3019 million, compared to $3030 million for the fourth quarter…

U.S. Bank Credit Card Q1 Profits Decline As Charge-Offs Rise

U.S. Bank (USB)’s Payment Services division reported solid growth in gross dollar volume (GDV) as well as credit and debit fee revenue for the first quarter (1Q/17). However, rapidly rising charge-offs depressed credit card income, according to CardData. Acquiring volume continued to decline for the fourth consecutive quarter. USB’s Payment Services includes consumer and business…

All-Digital Payment Service Masterpass Inking Deals From Vending to Africa

Masterpass continues to expand globally reaching into the far corners of the world. Masterpass empowers issuing partners to deliver a bank-branded, all-digital payment solution. More than 80 million accounts have been automatically enabled through issuing partners as the service rolls out globally. The enhanced digital payment functionality helps issuers differentiate existing products, including mobile banking…

BofA Credit Card Unit Continues to Plug Along in Q1 – Charge-Offs Up

Bank of America, the nation’s third largest Visa and MasterCard issuer, continued to struggle in the first quarter (1Q/17) with sluggish outstandings (OUT) and purchase dollar volume (PDV) growth, but other metrics, except charge-offs, remain fairly stable, according to CardData. Pre-tax net income edged up 1.1% YOY to $1224 million in 1Q/17, compared to $1290…

Bank Credit Card Delinquency Slowly Rears its Ugly Head Again

More evidence mounts showing credit card delinquency is steadily rising. The bank credit card default rate recorded a 3.31% rate in March, up nine basis points from February. This is the fifth consecutive month for the ratio to rise. The S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, shows…