UnionPay International and its first partners jointly announced in Shanghai the launch of “优计划”, the world’s first open cross-border marketing platform developed by a bankcard scheme. The partners involved in developing the platform include Bank of China, China Merchants Bank, CYTS, Ctrip, Spring Airlines, SaSa Hong Kong, Prince Jewelry & Watch, LUKFOOK JEWELLERY, and ISA.…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. Purchase Dollar Volume (PDV), credit and debit cards, among the Big 6 U.S. card issuers, rose 7.5% year-on-year (YOY) for the first quarter (1Q/16). Capital One completely blew out the Big 6 pack by a nearly 2-to-1 margin. The Big 6 U.S. issuers racked up $479.8 billon in PDV for…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Charge-offs among the nation’s top four U.S. issuers rose 5 basis points (bps) year-on-year (YOY) to 3.08%, and up 21 bps sequentially for the first quarter (1Q/16). All four issuers reported sharply higher credit card losses sequentially. Soaring Capital One losses drove the sequential gain for the peer group. The Chase…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Gross or open accounts (GAC) for U.S. credit cards among the Big 6 U.S issuers edged up 0.6% year-on-year (YOY) in the first quarter (1Q/16) to 273.4 million, compared to 270.7 million in the prior quarter, and 271.9 million one-year ago. The growth is driven by Capital One and American Express…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Cash transactions (CTX) for Visa and MasterCard U.S. credit and debit cards in the U.S. grew by 4.7% year-on-year (YOY) in the first quarter (1Q/16). U.S. 1Q/16 credit card cash transactions were up 13.6% YOY, while U.S. debit card CTX increased 4.5%. Visa’s 1Q/16 CTX for U.S. credit cards was up…
Minneapolis-based U.S. Bank, the first bank to offer real-time, person-to-person payments through the security of the clearXchange network, the largest bank-offered digital payments network in the United States, is now making the service available to customers with no fee, effective immediately. Since U.S. Bank introduced this service to its customers, several other financial institutions have…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The average yield among the nations’s Top 4 bank credit card issuers declined 9 basis points (bps) sequentially at 11.49% for the first quarter (1Q/16), compared to 11.58% for the prior quarter, and 11.54% for 1Q/15. Capital One (COF), continues to lead the Top 4 with a 14.43% 1Q/16 yield while…
In Other News: CSI (partnerships); PACE (@Pay); WORLD PATENT (Change Card); and ZAPPOROO (Automaticard). CSI – CSI globalVCard is expanding its global partnership operations team to support the company’s growing network of strategic FinTech partnerships. This team will be moved from the company’s Southwest Florida headquarters to the recently opened Dallas, Texas office, which is…
CardinalCommerce has significantly expanded its global patent portfolio. The company’s U.S. and international patent portfolio now totals 63 issued patents, with a dozen new patents recently granted from five countries. Cardinal’s patents include sophisticated technology, architecture, engineering and applied sciences to protect its business and provide a safe haven for its Customers and Partners. Cardinal…
C-Connect, the retail e-commerce company selling printer inks and sanitary napkins, has launched “Ippin” – the Online Shopping Mall specialized in direct sales and distribution from Japan to foreign countries. “Ippin” not only sells “Made in Japan” products but also high–quality “Produced by Japan” and “Popular in Japan” items, enabling customers to purchase directly from…
Visa is releasing its second calendar report much earlier than expected. Visa is now releasing on July 21st, after the market close. MasterCard will report on July 28yh before the market open. The second calendar quarter earnings report season for the payments industry opens on July 14 when Chase and Citibank report before the market…
In Other News: AMEX (rewards); TO-INCREASE (ERP); GPN (Singapore); and CLEARENT (buttons). AMEX – To celebrate 25 years of the Membership Rewards program, American Express debuted the Anniversary Collection, a curated collection of premium entertainment, sports and dining experiences, all available with Membership Rewards points. The collection opens up once-in-a-lifetime experiences for Card Members, with…
