U.S. Purchase Dollar Volume (PDV) for Visa and Mastercard payment cards (credit + debit) in the first quarter (1Q/17) grew at an annual rate (YOY) of 8.8% YOY, according to CardData. U.S. Visa and Mastercard reported payment card PDV of $1099 billion for 1Q/17, compared to $1137 billion in the prior quarter, and $1010 billion…
Corporate payment solutions WEX inked a new agreement with Crawler2api. Crawler2api is a major provider of custom real-time APIs and transactional bots. The company aims to make data easily accessible for clients while eliminating the need for websites to maintain costly APIs or structured data feeds. Crawler2api’s proprietary crawling framework enables its clients to request data…
First Data has inked a deal acquire CardConnect for $750 million. The transaction is expected to close in the third quarter. CardConnect is a provider of payment processing and technology solutions and is one of First Data’s largest distribution partners. CardConnect processes approximately $26 billion of volume annually from about 67,000 merchant customers which are…
Square posted another stunning quarter (1Q/17) with revenue up 22%+ year-on-year (YOY), gross payment volume (GPV) up more than 32%. Square says it continues to see strength from larger sellers, which are those that generate more than $125,000 in annualized GPV. In the first quarter, GPV from larger sellers grew 44% year over year and…
U.S. EMV (chip cards) demand destroyed CPI Card Group (CPI) in the first quarter (1Q/17), as gross revenue fell 35.2%, and a $4.5 million loss. As a result CPI stock dipped 10%, to hovering at $2.60 today, according to CardData. CPI says product net sales decreased primarily due to a decline in EMV chip cards…
Mobile World Congress (MWC) Americas will debut September 12-14 in San Francisco at the Moscone Center and will be the premier mobile industry event for the Americas. Under the theme “The Tech Element”, Mobile World Congress Americas will be expecting 30,000 professionals from across the mobile industry and adjacent industry sectors to attend. The exhibition…
The average late stage U.S. credit card delinquency (90+ day) among the nation’s top four issuers edged down 1 basis points (bps) sequentially, but up 14 bps year-on-year (YOY) for the first quarter (1Q/17). Early stage delinquency, the precursor of 90+ day delinquency, among the peer group, rose in 1Q/17, according to CardData. For the Top…
Capital One Spark Business launched the “We Work As One” campaign to light-up its business credit card product. The initiative will start in Chicago (June), then San Francisco (July), New York City (August), Denver (September) and Boston (October). The new program partners small businesses in select markets with local Capital One Cafés for a series of…
Mastercard’s U.S. purchase dollar volume (PDV) quarterly year-on-year (YOY) growth has been spiraling down this year tumbling for the fourth consecutive quarter to 2.5% in the first quarter (1Q/17), compared to 2.7% for 4Q/16, and 10.3% for 1Q/16, according to CardData. While overall Mastercard is solid globally its U.S. business is sinking fast. Mastercard reported…
GA-based FleetCor Technologies (FLT), a major provider of fuel cards and workforce payment products to businesses, reported first quarter (1Q/17) profits jumped 11.3% year-on-year (YOY) as domestic and international transactions also posted double-digit YOY gains in 1Q/17, according to CardData. FleetCor says its fundamentals were strong, organic revenue growth was approximately 10% in the quarter,…
U.S. Purchase Dollar Volume (PDV) among the top four U.S. bank credit card issuers, rose 18.9% year-on-year (YOY) in the first quarter (1Q/17), compared to YOY growth rate of 10.0% in 1Q/16. Citi drove the YOY growth with the 2016 acquisition of the AmEx/Costco portfolio, accoesing to CardData. The top four U.S. issuers racked up $334.5…
According to a new national survey, three quarters of consumers indicate they would be likely to select an online retailer that offered instant financing compared to another that did not; 28% would be very likely to change merchants in order to use instant financing. Instant financing is an easy-to-use, revolving line of credit that consumers…
