The average yield for U.S. Visa and MasterCard-branded credit cards, issued by the top four issuers, will likely decline by eight basis points (bps) for the first quarter, and down 30 bps from mid-year 2014. Forecaster RAM Research projects an average yield for the Big 4 of 11.30% in the first quarter, compared to 11.59% one-year ago.
New research shows nearly two-thirds of Americans are now smartphone owner and 57% have used their phone to do online banking. However, nearly half of smartphone-dependent Americans have had to cancel or shut off their cell phone service for a period of time because the cost of maintaining that service was a financial hardship.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Chris Nelson, CEO and founder of Zoot Enterprises.
CardWeb.com’s CardData database of Company Profiles today features processor Digital River. The Company is a major provider of Commerce-as-a-Service solutions.
Countries that have already adopted EMV have experienced a significant increase in online fraud following the migration, and the U.S. is not expected to be an exception. In fact, online fraud increased 21% in Europe in 2012, in part due to the introduction of EMV cards.
In today’s CardFlash News Que: INGENICO (Intel); BANKRATE (Quizzle); POWA (Worldpay); and DICARO (ATMs).
CardWeb.com’s CardWatch database of more than 57,000 marketing items today features the Discover Card TV Spot, ‘Job Loss Support’ Song by Of Monsters & Men
Only 58% of students from four-year institutions said they were prepared to manage their money, while 12% of respondents said they never check their bank balances because they are too nervous. Additionally, 16% of student respondents lived paycheck to paycheck and yet only three-quarters stopped spending when their bank account balances were low.
CardWeb.com’s CardData Reports today features “Country Payments Market Profile: Turkey” report from the Mercator Advisory Group.
Visa’s average ticket (TIX) per point-of-sale (POS) purchase has been rock solid for the past five years. According to CardData, the Visa average TIX for full-year 2014 for credit cards is $84.18 and $37.57 for debit cards, down 60 cents and up 48 cents respectively, compared to 2010.
The nation’s fourth largest Visa and MasterCard issuer ended 2014 with declining outstandings, below industry average purchase dollar volume (PDV) and a slight uptick in delinquencies, but profits remained flat sequentially. Forecaster RAM Research projects Citibank (Citi) will post $64.1 billion in outstandings and $41.1 billion in PDV for the first quarter.
FIS has opened its fourth payments innovation lab to serve as a hotbed for the continued development of the Company’s disruptive digital and mobile capabilities, as well as shorten time-to-market for new applications.