Top 4 U.S. CC Issuers Q2 30+ Day DEL Edges Down 4 bps YOY

Average early stage delinquency (30+ days) for the second quarter (2Q/18), among the nation’s Top 4 issuers, decreased 17 basis points (bps) sequentially, and declined year-on-year (YOY) by 4 bps. The nation’s largest issuer, Chase, reported delinquency increased to 1.65% in 2Q/18, compared to 1.82% for 1Q/18 and 1.59% for 2Q/17, a 6 bps gain…

V+M Q2 U.S. Credit + Debit Cards GTX Up 7.9% YOY – Up 180 bps Over 2017

U.S. gross transactions (GTX) for Visa and Mastercard credit and debit cards grew by 7.9% year-on-year (YOY) in the second quarter (2Q/18), compared to 6.1% one-year ago.  U.S. GTX for credit cards jumped 8.1% YOY while U.S. GTX for debit cards increased 7.8% YOY in 2Q/18. Visa’s U.S. GTX for credit cards rose 8.5% YOY…

Big 6 Issuers Q2 U.S. Charge-Offs +18 bps YOY – Trending Upward Since Q1/17

Charge-offs among the nation’s top 6 issuers rose 18 basis points (bps) year-on-year (YOY) to 3.47% for the second quarter (2Q/18), but down 4 bps sequentially.  The Big 6 (Chase, Bank of America, Capital One, Citibank, American, Express, Discover) reported an aggregate charge-off ratio of 3.47% for 2Q/18, compared to 3.51% for 1Q/18 and 3.29%…

Visa Set to Grab More Marketshare in Q2 Approaching 60% GDV

The nation’s four major payment card networks produced $1485 billion in U.S. gross dollar volume (GDV) in the first quarter (1Q/17) for a 6.0% year-on-year (YOY) gain. Visa continues to rule the market, growing its U.S. GDV marketshare from 58.7% in 1Q/16 to 61.1% in 1Q/17, largely at the expense of American Express, according to…

Verifone Gives Up on 2017 as Profits Sour in Q2 — Building for Fiscal 2018

The slowdown in EMV for the second fiscal quarter, (ended 4/30/17), (2Q/17) continues to drag on Verifone’s (VF) performance, as year-on-year (YOY) net income plummeted by more than 500%. The Company notes it continues divesting non-strategic businesses and allocating resources and capital to ensure the timely delivery of our new products, with a bright 2018…

AXP Enhanced BTA Sets a New Standard in Business Travel Management Tools

The beefed-up American Express Business Travel Account (BTA), now gives companies greater control and more visibility into their business travel expenses. The addition of Virtual Account Numbers in the refreshed product centralizes more types of business travel spending into a single account. The virtual account feature works with the existing booking processes of Travel Management…

Risks of Same Day ACH Debit Payments to Faster Payments Ecosystem Significant

A new report finds same day ACH debits create new opportunities for fraudsters to use the shortened settlement windows to bypass existing fraud prevention tools and defraud financial institutions, payment processors, and their customers. Also, legacy account validation processes — including prenotes and trial deposits — will be ineffective at identifying and preventing fraudulent debits,…

Share&Charge Delivers P2P EV Charging Network w/Blockchain Payments

California residential and commercial owners of electric vehicle charging stations enabled with eMotorWerks’ JuiceNet smart-grid charging technology will have the opportunity to rent out charging time on their stations to EV drivers participating in a new peer to peer (P2P) network powered by MotionWerk’s Share&Charge open platform. Share&Charge was founded by the innogy Innovation Hub…