Big 6 US 3Q PDV
U.S. Purchase Dollar Volume (PDV), credit and debit cards, among the Big 6 U.S. card issuers, rose 6.6% year-on-year (YOY) and 0.5% sequentially in the third quarter. Capital One completely blew out the Big 6 pack by a 3-to-1 margin.
US 3Q Marketshare
The nation’s four major payment card networks produced $1400 billion in U.S. gross dollar volume (GDV) in the third quarter (3Q/15). Visa continues to rule the market, growing its U.S. GDV marketshare from 58.1% in 3Q/14 to 58.7% in 3Q/15, largely at the expense of American Express.
Global Network PDV
Purchase dollar volume (PDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) globally rose 2.5% year-on-year (YOY) on a nominal dollars basis. However, on a currency adjusted basis (FX) global PDV for the third quarter increased 11.4% YOY.
Global GDV 3Q
Gross dollar volume (GDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) globally fell 1% year-on-year on a nominal dollars basis. However, on a currency adjusted basis (FX) global GDV for the third quarter increased 10.7% YOY.
Affinity/Cobrand Cards
A new report suggests co-branded credit cards last year generated 31% of general purpose credit card purchase volume, or $809 billion among Visa, MasterCard, Discover and American Express branded credit and charge cards. Roughly 43% of U.S. adult consumers own at least one co-branded or affinity credit card.
BAMS + OptBlue
Bank of America Merchant Services inks its participation in the American Express’ OptBlue program. OptBlue provides simplified sign-up and management of American Express card-related processing for small businesses.
AmEx P/L FC
American Express’ (AmEx) quarterly net income for U.S. cards could exceed $1 billion next year. Forecaster RAM Research predicts AmEx net income for the first quarter of 2016 will come in at $996 million, driven by higher spending.
Plenti Card
American Express has corralled nine major U.S. merchants to form the first U.S.-based coalition loyalty card program. The new Plenti card and/or FOB can be used any form of payment that the partner accepts at checkout – cash, credit, debit or prepaid and offers cardholders the ability to double-dip with other rewards payments cards.
Tom Kiernan
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Tom Kiernan, Chief Executive Officer of ClickPay.
AXP CC ABS
Stung by the loss of the Costco co-branded credit card program, the recent loss of a recent DOJ lawsuit, and the potential of rising consumer interest rates, American Express’ (AXP) Asset-Backed Securities (ABS) credit card program should strong in 2015 given its liquidity profile.
Small Merchants EMV
American Express has launched its Small Merchant EMV Assistance Program for small merchants in the USA. AmEx says it found 67% of small merchants surveyed say protection against and prevention of payment-card fraud is a top priority.
AmEx Anti-Steering
American Express lost a major court decision over its rules that prohibit merchants from telling customers they prefer to accept one card over another. AmEx previously said if the lose the case it will materially affect their business.