UK Credit Card Lending Marching North in March

UK Credit Card Lending Marching North in March

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.K. consumer credit continues to expand at a brisk pace, hovering around 10% year-on-year YOY. In March total consumer credit grew at a 9.7% annual rate, seasonally adjusted (SA) to £182.4 billion. The three-month annualized and twelve-month growth rates were 11.6% and 9.7% respectively. The Bank of England (BOE) reports consumer…

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India’s Accept Express Payment Gateway Best X-Border

India’s Accept Express Payment Gateway Best X-Border

India’s Accept Express startup says it has developed a first-of-its-kind solution where the approval rate on card transactions is 99.9%. The payment platform offers payment acceptance solutions including Card Payment Acceptance, Online Bank Payments, E-Commerce, POS and Mobile POS Solutions. Accept Express received its first step funding of $12 million from White & Brooks Private…

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Seamless Cuts SEQR Loss by 32%; Verge of Explosive Growth

Seamless Cuts SEQR Loss by 32%; Verge of Explosive Growth

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Sweden-based Seamless posted first quarter (1Q/16) net revenue of SEK 61.1 million, an increase of 7.8% year-on-year (YOY).  Net revenues for SEQR business division declined 10.6% YOY to SEK 1.68 million. The Seamless operating loss declined 23.7% YOY from SEK 56.7 million in 1Q/15 to SEK 24.1 million for 1Q/16. The…

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Discover Stays the Course Limited to Single Digit Growth

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] While not exploding, Discover’s (DFS) credit card portfolio continues to stay in positive territory. Year-on-year (YOY) growth in the first quarter (1Q/16) was limited to single digits, but charge-offs (CO) headed higher due to the historical seasonal impact of a first quarter. Discover’s total revenue rose 2.4% YOY to $2224 million,…

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AmEx Global: US Card +5% YOY; International +8% FX YOY

AmEx Global: US Card +5% YOY; International +8% FX YOY

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] AmEx reported 1Q/16 gross revenue for its U.S. card business (USCS) rose 3.0% YOY to $3280 million, while net income increased 5.0% YOY to $694 million. Gross revenue for the AmEx international card business (ICNS) declined slightly (-1.0%) YOY, or +8.0% currency adjusted (FX), to $1313 million and net income slipped…

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Digital PC Gaming Market Revenue Develops to $26B

Digital PC Gaming Market Revenue Develops to $26B

A webinar and a new report, set for May 4 will explore how games publishers can improve monetization techniques and ultimately drive additional revenue. The new report provides insights into checkout best practices, gamer payment preferences and payment security sensitivities, among other topics. According to Digital River’s “Best Practices: User Conversion, Payment Flows & In-Game…

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BRIEFS – JDPOWER; PERK; SCORECEO; and FCFS

In Other News: JDPOWER (survey); PERK (apps); SCORECEO (dashboard); and FCFS (merger). JDPOWER – Big banks have significantly improved in overall customer satisfaction, while Midsize banks have declined and Regional banks have plateaued, according to the J.D. Power 2016 U.S. Retail Banking Satisfaction Study. Satisfaction with Big banks rises for the sixth consecutive year, driven by…

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Canada’s Peoples Trust Lands 3 Awards for Prepaid

Canada’s Peoples Trust Lands 3 Awards for Prepaid

Payments eXchange has picked Peoples Trust as the ‘Leading Prepaid Organization’ in Canada, and honored Peoples Card Services’ president, Peter Read, as ‘Industry Person of the Year’. The Company, along with InComm and National Money Mart Company, was also recognized at the annual awards event, for the Titanium+ Prepaid MasterCard®, which took the ‘Best Consumer-Funded…

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Bank Tellers Are Only Preferred for Big Check ($1K+) Deposits

Bank Tellers Are Only Preferred for Big Check ($1K+) Deposits

A new study finds U.S. consumers’ preference for depositing checks by teller continues to decline even for higher-value checks. Mercator Advisory Group’s most recent Insight Report, Self-Service, ATM, and Other Channel Banking: Expand My Options, reveals even though tellers remain the preferred method for a $1,000 check deposit, this preference has declined steadily from a…

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Wells Fargo Delivers Above Peer Group PDV Gains; Outstandings Remain Strong

Wells Fargo Delivers Above Peer Group PDV Gains; Outstandings Remain Strong

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Wells Fargo first quarter (1Q/16) consumer credit card purchase dollar volume (PDV) soared 13.6% year-on-year (YOY) as purchase transactions (PTX) rose by 11.2%. Active mobile users of Wells Fargo surged 18.8% YOY. Average consumer credit card 1Q/16 outstandings grew 9.6% YOY to $33.1 billion, compared to $34.0 billion for 4Q/15 and $30.1…

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