The number of U.S. bank credit cards-in-force (CIF) will nearly double between now and 2020. Forecaster RAM Research projects, based on current growth rates, the number of U.S. credit cards with the Visa, MasterCard, American Express and Discover brands will top 1 billion by 2020.
The majority of credit unions have serious security concerns regarding insider threats. More than eight out of ten of the financial institutions acknowledge their biggest concern is confidential information being transferred to unauthorized recipients, while another 52% say they are worried about sensitive data being transferred by use of removable media.
MasterCard’s average ticket (TIX) per purchase for U.S. credit cards has increased 10.3% since 2009, compared to Visa’s decrease of 1.9% during the same five year period. MasterCard’s average U.S. debit card purchase TIX runs about 4.8% higher than Visa’s since 2009. According to CardData, the MasterCard average TIX for full-year 2014 for credit cards is $90.23 and $39.42 for debit cards, up $8.39 and 8 cents respectively, compared to 2010.
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.