In today’s CardFlash News Que: ACI (IRS); FIRST BANKCARD (Best Western); TOMAHAWK (Text2ParkMe); and PASSPORT (Cincinnati).
Early stage delinquency (30+ days) edged down by 13 basis points sequentially and year-on-year (YOY), on average to 1.83%, among the nation’s top four U.S. credit card issuers. Citibank appears to be doing the best, dropping 19 basis points in Q2/15, compared to Q1/15.
Charge-offs among the nation’s top 4 issuers dropped 27 basis points (bps) year-on-year (YOY) to 2.97%, and 6 bps sequentially. Bank of America (BofA) has done the best job of reigning in card losses, dropping 43 bps YOY.
Visa’s profits are soaring and the deal to acquire Visa Europe looks like it will happen by the end of the year. Second quarter adjusted net income jumped 33% year-on-year (YOY) to $1.8 billion. Visa says it is targeting to resolve these Visa Europe discussions by the end of October.
Discover’s credit card outstandings continued strong in the second quarter rising 4.2% as Purchase Dollar Volume (PDV) rose 2.4%, year-on-year (YOY). While all other credit card metrics remained stable, overall net income for Q2/15 declined 7.0% YOY to $699 million.
Capital One (COF) continues to lead the U.S. credit card industry in outstandings and volume growth, posting a strong 11% year-on-year (YOY) gain in end-of-period (EOP) outstandings and a whopping 18% surge in Purchase Dollar Volume (PDV) for the second quarter.
Dallas-based Alliance Data Systems reported second quarter revenue increased 19% year-on-year (YOY). Card Services rose 27%, Epsilon revenue increased 39%, while LoyaltyOne revenue decreased 15%.
A new study has found many brands are playing ‘catch-up’ to their increasingly mobile consumers when it comes to online customer service. The fast growing number of smartphone users has already created a seismic shift in the way customers choose to engage with brands and the majority of brands are struggling to adapt.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Stephen Pair, Co-Founder, Chief Executive Officer of BitPay.
CardWeb.com’s CardData database of Company Profiles today features ACI Worldwide.
CardWeb.com’s CardData Reports today features the “Private Label Credit Cards” from Packaged Facts.
International Bancard has ankled Steve Ventura as its Senior Vice President of Partner Development. Ventura brings 20 years of business, sales and partnership experience to International Bancard at its corporate headquarters just outside Detroit.