US BANK; D&B; FTC; and CFPB

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] In Other News: US BANK (app); D&B (survey); FTC (Chicago); and CFPB (loan scam). US BANK – Securely logging in to mobile banking just got easier for U.S. Bank customers with the release of an updated version of the U.S. Bank Mobile app for iPhone. The new app gives customers an…

Details
Green Dot Continues MasterCard PTS Migration in March

Green Dot Continues MasterCard PTS Migration in March

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Green Dot confirms it has migrated an additional 15 million account files to the MasterCard Payment Transaction Services (PTS) processing platform during the second planned conversion wave which was completed in March. Including the first wave of account migrations, this brings the total number of account files successfully migrated to approximately…

Details
MasterCard U.S. EMV Card Penetration Tops Two-Thirds

MasterCard U.S. EMV Card Penetration Tops Two-Thirds

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The latest figures reveal 67% of U.S.-issued MasterCard-branded consumer credit cards now feature chips. This represents a 51% increase in the number of consumer credit cards with chips in market since the October 1, 2015 liability shift. Consumers can use their chip cards in more places, as 1.2 million U.S. merchant…

Details
Walmart Rewards on Credit, Store and Prepaid Cards

Walmart Rewards on Credit, Store and Prepaid Cards

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Walmart is now offering rewards for purchases made with either the Walmart Credit Card, the Walmart MasterCard or the Walmart MoneyCards. The new, simplified rewards value proposition – 3-2-1 Save – add mpre value to the Walmart family of credit and prepaid cards, issued and administered by Synchrony Bank and Green…

Details

UK Credit Card Lending Maintains 6%+ YOY Growth

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.K. consumer credit in February grew at a 9.3% annual rate to £180.7 billion. Within consumer credit, credit card lending increased by 6.7% year-on-year (YOY) to £63.8 billion and other loans/ advances increased by 10.9% YOY to £116.9 billion. All figures are seasonally adjusted. Credit card lending increased by £0.2 billion…

Details
January consumer revolving credit card debt increased at an annual rate of -1.3%, compared to +7.0% in December and +8.4% in November. Overall consumer credit increased at a seasonally adjusted annual rate of +3.6%. Non-revolving credit increased at an annual rate of +5.4%. Total revolving credit for January posted at $935.3 billion, compared to a revised $936.4 billion in December, and a revised $930.9 billion in November, according to the Federal Reserve. Total consumer credit, at the end of January, stood at $3543.6 billion. U.S. credit card outstandings end-of-period (EOP) among the Big 6 issuers decreased 0.3% in the fourth quarter year-on-year (YOY) to $485.5 billion. U.S. CONSUMER REVOLVING CREDIT 4Q/14: $890.0 billion 1Q/15: $890.8 billion 2Q/15: $910.2 billion 3Q/15: $923.4 billion 4Q/15: $936.4 billion Source: Federal Reserve BIG 6 U.S ISSUERS OUTSTANDINGS 4Q/14: $486.8 billion 1Q/15: $461.6 billion
 2Q/15: $474.5 billion
 3Q/15: $479.4 billion
 4Q/15: $485.5 billion AMERICAN EXPRESS U.S. CREDIT OUTSTANDINGS 
4Q/14: $62.6 billion 1Q/15: $59.9 billion 2Q/15: $61.7 billion 3Q/15: $62.1 billion
 4Q/15: $51.4 billion DISCOVER U.S. CREDIT OUTSTANDINGS 
4Q/14: $56.1 billion 1Q/15: $53.5 billion 2Q/15: $54.9 billion
 3Q/15: $55.7 billion
 4Q/15: $57.9 billion CHASE U.S. CREDIT OUTSTANDINGS 
4Q/14: $131.0 billion 1Q/15: $123.3 billion 2Q/15: $126.0 billion 3Q/15: $127.0 billion 
4Q/15: $131.5 billion BANK OF AMERICA U.S. CREDIT OUTSTANDINGS 
4Q/14: $91.9 billion 1Q/15: $87.3 billion 2Q/15: $88.4 billion 
3Q/15: $88.3 billion 
4Q/15: $89.6 billion CAPITAL ONE U.S. CREDIT OUTSTANDINGS 4Q/14: $77.7 billion 1Q/15: $74.1 billion 
2Q/15: $79.0 billion
 3Q/15: $82.2 billion 
4Q/15: $87.9 billion CITIBANK U.S. CREDIT OUTSTANDINGS 4Q/14: $67.5 billion 1Q/15: $63.5 billion 2Q/15: $64.5 billion
 3Q/15: $64.8 billion
 4Q/15: $67.2 billion Source: Federal Reserve; American Express; Discover; Chase; Bank of America; Capital One; Discover For a complete archive of more than 60,000 articles published since 1995 search the CardFlash.com library.

Consumer Credit Hits the Brakes In Jan After a Solid 2015

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] January consumer revolving credit card debt increased at an annual rate of -1.3%, compared to +7.0% in December and +8.4% in November. Overall consumer credit increased at a seasonally adjusted annual rate of +3.6%. Non-revolving credit increased at an annual rate of +5.4%. Total revolving credit for January posted at $935.3…

Details

Credit Card Delinquency Edges Up Across the Board

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The 30+ day delinquency rate (not seasonally adjusted) for the top 100 U.S. banks increased 2 basis points (bps) sequentially, and up 1 bps from one-year ago for the fourth quarter (4Q/15). Among the nation’s top four card issuers, delinquency edged up by 5 bps from the prior quarter, but dropped…

Details

PAYEASE; GOLDMONEY; UPHOLD; and K-RISE

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] In Other News: PAYEASE (Apple Pay); GOLDMONEY (G2G); UPHOLD (India); and K-RISE (OPN). PAYEASE – China’s first electronic payment enterprise, PayEase now supports payment through Apple Pay on Apple Store APP, providing more flexibility to consumers on mobile terminal transactions. With immediate effect, mobile terminals on Apple Store APP officially support payments…

Details
Street Invoice Beefs Up App as Open Source for All ISOs

Street Invoice Beefs Up App as Open Source for All ISOs

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Street Invoice app is revolutionizing the payment acceptance method with a new technology that is an open source for every ISO in the credit card processing business. All ISOs (Independent Selling Organizations) in the merchant services business were working hard to build a book-of-business until their merchants decided to move…

Details
e-Commerce Fraud Soars with New US EMV & NFC Cards

e-Commerce Fraud Soars with New US EMV & NFC Cards

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] New research reveals the implementation EMV and NFC cards in the U.S. has driven online fraud upward by 80-100%. The March edition of the Digital Identity Tracker, a forum for framing and addressing key issues and trends in fraud and identity protection, also found total revenues lost from eCommerce transactions due to…

Details
AmEx Japa Region Continues Strongest GDV Growth

AmEx Japa Region Continues Strongest GDV Growth

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] American Express (AXP) international gross dollar volume (GDV) for the fourth quarter (4Q/15) rose 8.0% 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 15.0% YOY. 

The YOY GDV FX growth rate for the three AXP…

Details