Perfect Storm Coming

Perfect Storm Coming to Banking & Payments

A perfect storm is brewing for the banking and payments business as the impact of the coronavirus-driven spending collapse and the sharp rise in unemployment pushes consumer loan defaults to new heights. Adding to these two components is the unprecedented decline in oil prices, likely producing massive defaults on oil-related loans and the layoffs it…

Discover LGBTQ

Discover LGBTQ Scores – Retailers Go Used – Curve

Discover LGBTQ scores a perfect 100 score alongside almost 700 other companies as “Best Place to Work” for equality. Nordstrom, Macy’s, J.C. Penney and Madewell are shifting retail to preloved clothes, shoes and handbags. GOP wants to revamp the Volcker Rule and continue gutting the CFPB. The Curve Mastercard with Apple Pay app takes shape.…

Fourth-Quarter Card GDV

Fourth-Quarter Card GDV U.S. Volume Downshifts 110 bps

Fourth-quarter card GDV (gross dollar volume) for credit/charge card products, among the Major 4 payment networks (Visa [V], Mastercard [MA], American Express [AXP], and Discover [DFS]), lost momentum, growing 7.5% year-on-year (YOY), compared to an 8.2% YOY gain for the prior quarter, and 8.6% YOY for the year ago quarter. On an annual or YOY…

Payment Earnings for Q4 & EOY 2019 Disclosed Next Week

Payment earnings reports for the nation’s top credit card issuers, global payments networks and supporting businesses gets underway before the market opens on Tuesday, January 14th. First out of the shoot is Chase (JPM), Citibank (C) and Wells Fargo (WFS), according to CardData and PYRPTS. U.S. Bank (USB) and Bank of America (BAC) are scheduled…

Artificial Intelligence

Artificial Intelligence & Wearables

Artificial intelligence (AI) virtual assistants take over credit card services and wearable payments begin to blossom along with digital personal identification technology. But AI is capable of reflecting creator biases as part of the learning process, reports CardBuzz. Credit card issuers are still playing it safe in risk management as some metrics raise red flags…

Top Card Issuer Markeshare

Top Card Issuer Marketshare Rises 30 bps – U.S. PDV Tops $1T

Top card issuer marketshare, based on U.S. purchase dollar volume (PDV) of Visa [V], Mastercard [MA], American Express [AXP] and Discover [DFS], increased 30 bps (basis points) in the third-quarter (3Q/19). Chase, the nation’s largest credit card issuer on outstandings and the fastest growing issuer, based on PDV at 19% YOY (year-on-year), led the Top…

Third-Quarter Earnings Reports

Third-Quarter Earnings Reports for Payments Hit Next Week

Third-quarter earnings reports for the nation’s top credit card issuers, global payments networks and supporting businesses gets underway before the market opens on Tuesday, October 15th. First out of the shoot, is Chase (JPM), Citibank (C) and Wells Fargo (WFS), according to PYRPTS.com and CardData. Among, the four global payment networks, American Express (AXP) will…

Credit Card Loan Loss

Credit Card Loan Loss Reserves Jump as Economic Clouds Gather

Card loan loss reserves rose sharply among the nation’s largest issuers, however, charge-offs among the Big 6 domestic credit card issuers held steady in the second-quarter. Credit card charge-offs among the nation’s Big 6 credit card issuers rose 18 basis points (bps) year-on-year (YOY) for the second-quarter (2Q/19).  The Big 6 (Chase [JPM], Capital One…

early stage card delinquency

Early Stage Card Delinquency Tad Down in Q2 for Big 6

Early stage card delinquency in the second-quarter (2Q/19) declined 13 basis points (bps) from the prior quarter, but rising 13 bps from one-year ago. But the average 30+ day delinquency rate among the Big 6 U.S. issuers has been riding above 2.0% level for four consecutive quarters. The average U.S. 30+ day delinquency rate among…