Personal Debt
New research reveals the average indebted household owes $15,355 in credit card debt alone. Credit card debt costs consumers an average of $2,630 per year in interest.
Credit Unions Q2/15
U.S. credit unions outpaced banks across all consumer lending and asset quality categories, according to research conducted by Callahan & Associates on second quarter data released by the National Credit Union Association (NCUA) and Federal Deposit Insurance Corporation (FDIC).
Card Fraud 2015
Fraud losses incurred by banks and merchants on all credit, debit, and prepaid general purpose and private label payment cards issued worldwide reached $16.31 billion last year when global card volume totaled $28.844 trillion. This means that for every $100 in volume, 5.65¢ was fraudulent.
INTL CC GDV Q4/14
International (excluding the USA) Gross Dollar Volume (GDV) for Visa (VS) and MasterCard (MC) credit cards rose 2.0% year-on-year (Y/Y) in the fourth quarter (Q4/14), on a dollar basis. On a local currency basis VS’s growth in Q4/14 international credit cards GDV growth slightly outpaced MC by 50 basis points (bps), according to CardData.
MasterCard Canada Q4/14
MasterCard (MC) Canada’s Gross Dollar Volume (GDV) rose year-on-year (Y/Y) 10.5%, on a local currency basis, in the fourth quarter (Q4/14). Growth exploded in the fourth quarter despite surveys showing Canadians reined in their wallets for the holiday season.
V+M INTL Debit
International (excluding the USA) Gross Dollar Volume (GDV) for Visa (VS) and MasterCard (MC) debit cards rose 2.3% year-on-year (Y/Y) in the fourth quarter (Q4/14), on a dollar basis. On a local currency basis MC’s growth in Q4/14 international debit cards GDV growth outpaced VS by 11 percentage points, according to CardData.
Consumer Debt Outlook
Consumer credit outstandings are ratcheting up as delinquency heads strongly upward in conjunction with an improving economy. However, 2015 could be a reversal of the current trends. It’s a deja vu all over again for the payments industry.
International Debit Q3/14
International (excluding the USA) Gross Dollar Volume (GDV) for Visa (VS) and MasterCard (MC) debit cards rose 10.1% year-on-year (Y/Y) in the third quarter (Q3/14), on a U.S. dollar basis.
International GDV Q3
CardWeb.com’s CardData financial database projects the four major networks will report $1948 million in international Purchase Dollar Volume (PDV) for the third quarter, a 6.9% year-on-year gain. American Express will report Q3 on Oct 15 and MasterCard will report on Oct 30. It is expected Discover will report Q3 on Oct 22 and Visa on Oct 24.
International Q2 GDV
MasterCard takes the lead in the second quarter for International gross dollar volume with a 12.3% year-on-year gain, compared to Visa’s 3.7%, American Express’ 6.3% gain and Discover with no gain.
International Q1 Credit Card GDV
International (excluding the USA) Gross Dollar Volume (GDV) for Visa (VS) and MasterCard (MC) credit cards rose 6.3% year-on-year (Y/Y) in the first quarter (Q1/14). MC’s growth in international credit cards GDV outpaced VS by 280 basis points (bps), according to CardData. During Q1/14 VS and MC produced $892 billion in international credit card GDV, compared to $968 billion in the prior quarter and $839 billion one-year ago.
VS + MC INTL CC PDV
International (excluding the USA) Purchase Dollar Volume (PDV) for Visa (VS) and MasterCard (MC) credit cards rose 7.4% year-on-year (Y/Y) in the first quarter (Q1/14). MC’s growth in Q1/14 international credit cards PDV growth outpaced VS by 280 basis points (bps), according to CardData. During Q1/14 VS and MC produced $799 billion in international credit…