American Express (AXP) international gross dollar volume (GDV) for the third quarter (3Q/15) rose 5.0% year-on-year (YOY) on a currency adjusted basis (FX). The gain was primarily driven by the Japan, Asia Pacific & Australia (JAPA) region which soared 14.0% YOY.
Global payment cards-in force (CIF) [credit + debit] grew by 7.3% year-on-year (YOY) in the third quarter (3Q/15) to 4168 million. The growth has been largely driven by Visa and MasterCard’s international “inclusion” drive with debit (& prepaid) cards.
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.
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.
Yoyo Wallet has been ranked by KPMG as one of the top 50 emerging companies in the global financial technology space. Yoyo’s U.S. expansion comes after a successful $10 million A round that has boosted Yoyo to become the fastest growing mobile wallet in the UK, processing up to 65% of checkouts across participating locations.
Tokyo-based Sumitomo Mitsui Trust Club is now the exclusive issuer and acquirer of Diners Club cards in Japan for Discover Financial Services’ Diners Club International.
Chase implied plans of collaboration with peer-to-peer (P2P) lenders are in the making as crowdfunding takes shape and legitimacy. New data shows the market in the U.S. is HUGE.
On again, off again, but now UnionPay has buddied up to bring Apple Pay into China. In a few months China UnionPay cardholders will be able to add their bank cards to Apple Pay on iPhone, Apple Watch and iPad.
Gross or open accounts (GAC) for U.S. credit cards among the Big 6 U.S issuers climbed 2.4% year-on-year (YOY) in the third quarter (3Q/15) to 272.0 million, compared to 269.1 million in the prior quarter, and 265.7 million one-year ago.
London-based Powa Technologies has inked a 10-year strategic alliance with China UnionPay to create a ubiquitous new standard in mobile commerce for CUP’s 1.3 billion credit and debit card users.
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.
U.S. credit card outstandings end-of-period (EOP) among the Top 4 U.S. issuers gained a mere 1.7% in the third quarter year-on-year (YOY) to $361.6 billion. Capital One continues to defy gravity among the peer group with a 12% YOY gain.