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…
SC Kazkommertsbank, one of the largest acquirers and credit card issuers in Kazakhstan, is commencing Diners Club card business operations in Kazakhstan. Diners Club International is part of Discover Global Network. Kazkommertsbank will be the exclusive acquirer in Kazakhstan for Diners Club and other cards issued on Discover Global Network, which is made up of…
In Other News: INGENICO (Datacap); JCB (CSR); FAYSAL (MasterCard); and OT (Discover). INGENICO Ingenico and Datacap Systems, an integrated payments middleware provider, announced the installation of its Pay-at-the-Table solution at Uncle Oogie’s, a New Jersey and Philadelphia-based chain of pizzerias. Using Ingenico Group’s smart terminals, Datacap’s point of sale partner, PDQ Signature Systems was able…
For the third straight year, Discover ranked highest for credit card customer satisfaction among U.S. credit card companies by J.D. Power. Discover received a total of 827 points out of a possible 1,000, according to the J.D. Power 2016 U.S. Credit Card Satisfaction Study, outpacing the industry average by 31 points. The J.D. Power 2016…
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…
The average late stage U.S. credit card delinquency (90+ day) among the nation’s six largest issuers was flat sequentially, to 0.92% for the first quarter (1Q/16), but up 4 basis points (bps) from one-year ago (YOY). Three issuers were flat or down sequentially. The AmEx 90+ day delinquency rate remained flat sequentially, and from one-year…
The Big 6 issuers, based on U.S. total outstandings of $950 billion, control 49.3% of the U.S. bank credit card business at the end of the first quarter (1Q/16). However, as a group the Big 6 lost 250 basis points (bps) quarter-to-quarter (QTQ) in marketshare to smaller issuers in the first quarter. Chase’s market share decreased…
Profits (after tax) among the nation’s Big 6 U.S. credit card issuers declined 4.9% in the first quarter (1Q/16), compared to one year ago (YOY) and, down 2.0% sequentially (QTQ). Aggregate card after tax profits for the Big 6 issuers logged in at $3789 million for 1Q/16, compared to $3867 million for 4Q/15 and $3984…
The average yield among the nations’s big six bank credit card issuers came in at 11.14% for the first quarter (1Q/16), compared to 10.96% in the prior quarter, and 11.00% for 1Q/15. Capital One (COF), the nation’s fastest growing major credit card issuer, again posted the highest yields, besting the average by 329 basis points…
U.S. Gross Dollar Volume (GDV) among the big six U.S. bank card issuers, rose an estimated 5.9% year-on-year (YOY) but down 8.1% sequentially in the first quarter (1Q/16). Capital One grew more than twice than the other five. Capital One, like most bank credit card issuers, only reports purchase dollar volume (PDV). The top six…
Profits for the top four networks declined 1.9% year-on-year (YOY) in the first quarter (1Q/16). Visa, MasterCard, American Express and Discover reported a combined 1Q/16 profit of $3935 million, compared to $4012 million for 4Q/15 and $4012 for 1Q/15. The decline was led by MasterCard, while Visa posted the strongest gain for 1Q/16. Visa’s global…
Purchase dollar volume (PDV) for the Major 4 networks (Visa, MasterCard, American Express and Discover) cards (credit + debit) in the U.S. climbed 9.0% year-on-year (YOY) in 1Q/16 hitting $1209 billion. Visa led the way in the first quarter posting a 10.5% YOY gain for U.S. PDV. The Major 4 collectively posted $1209 billion in…