Moneris partners with Ingenico to deploy PAYD PRO, Canada’s first mobile EMV, Chip and PIN and contactless payment solution. The anytime, anywhere payment solution is currently available on the Apple iOS platform and will be available on Android in fall of this year.
For the first time in Canadian eCommerce history, the online share of retail sales totaled 7.8% for the month of December according to MasterCard SpendingPulse, a macro-economic report that leverages purchase information across all forms of payment – credit cards, cash and cheque – to offer detailed insight into consumer spending trends. The eCommerce channel showed a 22.2% month-over-month increase in December, representing the 54th consecutive month of positive year-over-year growth for the channel. Total Canadian retail growth was steady but slow, posting a year-over-year growth of 2.3% and demonstrating the strength of eCommerce retail growth. The price index also declined significantly due to deep promotions during the holidays.
U.S. credit card delinquencies for the first time in a year increased, according to the latest Fitch Ratings Credit Card Performance Index. This immediately follows a new five-year low in October as late stage delinquencies were up two basis points to 1.71%. Regardless, late payments have remained well below the 3% average on the prime…
U.S. credit card delinquency has plunged to an all-time low, with Fitch Ratings’s 60-day Delinquency Index having dropped to 1.76% for the month of August. This decline brought delinquencies down to their lowest level on the Prime Credit Card Index in 21 years while delinquencies are down 25.74% since the year ago period, well below…
After having peaked in 3Q/09 at 10.14%, Citibank is reporting its card division chargeoffs continued its downward descent in 3Q/11, reaching 5.58% to its lowest percentage in years. Accordingly, chargeoffs, 30-89 day delinquencies and 90+ day delinquencies have all consistently dropped every single month-over-month since 1Q/10. With this, chargeoffs hit 8.69% in 3Q/10, 30+ day…
For U.S. retail credit card ABS, all major collateral metrics posted month-over-month improvements during the June collection period. Late payments more than 60 days fell for the fifth consecutive month while chargeoffs decreased again and reached levels not seen since the end of 2008; late stage delinquent balances, associated with borrowers who have missed at…
While U.S credit card defaults are now at the lowest level since early-2008 while delinquencies are at the lowest level in four years, consumer bankruptcies jumped 4% from the May 2011 consumer bankruptcy total of 114,803 filings to 119,768, 5% greater than the year ago figure of 126,270 filings. The Fitch Prime Credit Card Chargeoff…
The outlook on the U.S. economy is a mixed bag, with bankers remaining optimistic about the financial health of consumers but indicating that the “credit gap” for small businesses will grow. Moreover, 38% of bankers expect credit card delinquencies to remain flat, while 31% expect them to fall and only 30% expected them to rise…
Defaults, delinquency and charge-offs all continued forward momentum from May into June and the 2H/11. U.S credit card defaults are now at the lowest level since early-2008 while delinquencies are at the lowest level in four years. With this, the Fitch Prime Credit Card Chargeoff Index for June was down 13 basis points (bps) to…
Of the total $2.4 trillion in outstanding US consumer debt, total outstanding revolving credit dropped nearly 1.5% in April to 790.1 billion, while May consumer bankruptcies fell 16% nationwide from the year ago period with overall consumer filing totals having dwindled from 136,142 down to 114,803. This in large part means consumer debt has ‘no…
Of the total $2.4 trillion in outstanding US consumer debt, total outstanding revolving credit dropped nearly 1.5% in April to 790.1 billion. This after having edged up for the first time this year in March by 0.1% to $796.1 billion. This puts the figure back on the course it was following over the past 2…
Prosper.com peer-to-peer lending marketplace with over one million members and $233 million loans funded announced its monthly loan Market Survey report for April 2011, indicating its compound monthly growth rate of more than 14.5% over the last eight months. The strongest month-over-month growth continues to be in the small business loan category, with a 19% increase in April 2011 and an 85% increase from six months ago. Prosper delivers a new asset class with annual returns averaging 10.4%.