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…

Global Card Spending

Global Card Spending Plummets via Covid-19

Global card spending growth started to unwind in the fourth-quarter but the catastrophic worldwide impact of the coronavirus will be stunning for the first-quarter and far beyond. Business spending on travel could fall by more than $150 billion in the first three months. Consumer spending on travel will likely decline by $300 billion in Q1.…

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…

AR VR Music

AR VR & Music For Cards While Plaid & Honey – Buzzes

AR, VR & music are on the menu for 2020 courtesy of Mastercard while Visa ponies up $5 billion for a hot fintech consumer app. Interest in biometrics for payment cards may emerge this year after a sleepy 2019. The IRS has crypto-to-crypto transactions on the radar this tax season, according to Bankcenter and CardBuzz.…

B2B Cybercrime Fintech

B2B & Cybercrime & Fintech EOY 2019 Update

B2B market in Japan is ripe for development as it begins to tap into modern online payment methods. In the U.S., personalization is becoming a bigger part of overall B2B performance. In 2019, data breach was most hurtful to Capital One branding, blockchain platform Nuls was hacked, and Mastercard and RiskRecon team for all out…

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…

X-Border Transactions

X-Border Transaction Volume FX Globally Edges Up

X-Border transaction volume growth FX (currency adjusted) YOY (year-on-year) is driven solely by Mastercard. Third-quarter global cross-border transaction volume for Mastercard has consistently outpaced Visa more than double for the past two years. Cross-border transaction (X-Border) volume refers to payments and cash volume where the issuing country is different from the merchant country. X-Border Transaction…

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…

Global Cards

Global Cards Head to 6B Milestone w/5.45% CAGR

Global cards from the four U.S.-based payment card networks expanded by 286 million credit and debit cards-in-force (CIF), over the past twelve months. Visa [V], Mastercard [MA], American Express [AXP], and Discover/Diners [DFS], global payment cards, including credit, charge, debit and prepaid products, grew 5.2% year-on-year (YOY) in the third-quarter (3Q/19). Growth has been eroding…