The nation’s third largest Visa and MasterCard issuer continued to struggle in the third quarter (3Q/16) with sluggish outstandings (OUT) and purchase dollar volume (PDV) growth, but other metrics, especially credit risk management are above peer group averages Year-On-Year (YOY). Pre-tax net income edged down 2.5% YOY to $1218 million in 3Q/16, compared to $1216…
Citing several difficult market dynamics, including the slowdown in EMV for the third fiscal quarter, ended 7/31/16, (3Q/16) Verifone is reviewing underperforming businesses and a possible restructuring. The Company says it is relentlessly executing the long-term vision for Verifone to transform from a box shipper to a services provider. Verifone reported 3Q/16 gross revenue of…
Wells Fargo third quarter (3Q/16) consumer credit card purchase dollar volume (PDV) was up 7.1% year-on-year (YOY) as purchase transactions (PTX) rose by 11.4%. Active mobile users of Wells Fargo surged 17.5% YOY. Average consumer credit card 3Q/16 outstandings grew 8.4% YOY to $35.0 billion, compared to $34.1 billion for 2Q/16 and $32.3 billion for 3Q/15.…
Synchrony Financial’s retail credit card business revenues posted an 11.2% year-on-year (YOY) gain for the third quarter (3Q/16) to $2.79 billion. Retail card outstandings continue to be aided by the recent acquisition of the BP portfolio during the second quarter. During the quarter Synchrony renewed key relationships – TJX Companies, hhgregg, Nationwide Marketing Group and…
Australian credit card outstandings rose by 1.4% year-on-year (YOY) in August. Credit card credit limits increased 2.7% YOY and the number of credit card accounts rose 2.7% YOY in August. Article – Australian credit card outstandings rose by 1.4% year-on-year (YOY) in August. Credit card credit limits increased 2.7% YOY and the number of credit…
U.K. consumer credit continued to expand at a brisk pace in August, topping 10% year-on-year (YOY). In August total consumer credit grew to £187.9 billion. The three-month annualized and twelve-month growth rates, seasonally adjusted (SA), were 10.4% and 10.3% respectively. The Bank of England (BOE) reports consumer credit increased by £1.6 billion in August, in…
U.S. Bank (USB)’s Payment Services division reports explosive year-on-year (YOY) growth in consumer credit card gross dollar volume (GDV), as well as a substantial YOY gain in credit card outstandings (OUT) for the third quarter (3Q/16). Payment Services includes consumer and business credit cards, stored-value cards, debit cards, corporate, government and purchasing card services, consumer…
Australian credit card gross dollar volume (GDV) rose 9.9% year-on-year (YOY) in August. Purchase dollar volume (PDV) increased 10.2% YOY and cash dollar volume (CDV) declined 0.2% YOY in August. GDV rose in August to AU$27.6 billion, compared to a revised AU$24.3 billion in the prior month and a revised AU$25.1 billion one-year ago. PDV…
Gross dollar volume (GDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) in the U.S. climbed 6.8% year-on-year (YOY) in 2Q/16 reaching a record $1482 billion. Visa led the way in the second quarter posting a 9.0% YOY gain for U.S. GDV. Visa reported second quarter GDV of $883 billion, compared…
The charge-off rate, seasonally adjusted (SA), among the top 100 U.S. banks for the second quarter (2Q/16) decreased 7 basis points (bps) sequentially (QTQ), but up 10 bps year-on-year (YOY). On a not seasonally adjusted basis (NSA), the charge-off rate among the top 100 U.S. banks for 2Q/16, dropped 3 bps QTQ but up 10…
Australian credit card gross dollar volume (GDV) was flat year-on-year (YOY) in June. Purchase dollar volume (PDV) was also flat YOY and cash dollar volume (CDV) declined 2.3% YOY in June. GDV rose in June to AU$26.4 billion, compared to a revised AU$26.9 billion in the prior month and a revised AU$26.4 billion one-year ago.…
Early stage delinquency (30+ days) among the nation’s top 6 issuers declined six basis points (bps) sequentially in the first quarter (1Q/16) to 1.75%, but remains one bps above last year’s 1.74%. Five of the Big 6, including Chase, Bank of America, Capital One. Citibank, and Discover, posted lower or flat 30+ day delinquency in…