Robert McKinley, Senior Analyst/Editor Robert McKinley is an analyst of the payments industry on a daily basis for 32 years covering payment cards and payment systems from both the business side and the consumer side. McKinley is the retired founder and chief executive of RAM Research, CardWeb and CardTrak. In his prior position, McKinley has participated in more than 10,000 documented news media interviews, testified as an expert witness in two separate $billion+ U.S. anti-trust trials, testified before the U.S. Congress, assisted the GAO with paymentsIMG_2006 (1).jpeg reports, chaired numerous business conferences and provided C-Suite opinion to a multitude of Fortune 500 companies. In retirement, he has continued developing and funding digital media assets as well as contributing payments related analysis/content to a broad list of online publishers, including CardFlash, CardTrak and CardData. McKinley is also a national certified mentor with the non-profit SCORE organization with a focus on assisting Fintech startups. www.robert-mckinley.com

Gross Dollar Volume 3Q/18

Gross Dollar Volume for U.S. Credit Cards Growth Nears Double-Digits in 3Q

Gross dollar volume (GDV) for Visa, Mastercard, American Express and Discover credit cards in the U.S. climbed 9.9% year-on-year (YOY) in 3Q/18, compared to 9.4% YOY for 2Q/18, reaching $959 billion. American Express led the way in the third quarter posting a 10.8% YOY gain for U.S. GDV, while all the other networks posted high…

Credit Card Debt

U.S. Credit Card Debt Heads North a Tad in August – Total Consumer Debt to Top $4T

U.S. consumer credit card debt (revolving) for August, mostly credit card debt (95%), remained above the $1 trillion level for the sixth consecutive quarter. The year-on-year (YOY) change edged slightly upward in August. Consumer revolving credit increased at an 5.6% annual rate of growth in August, compared to a revised 1.6% annual rate in July…

Credit Card Losses Slip Upward a Skosh in Q2 — Broadly Across the Board

Credit card losses among the nation’s top 6 issuers rose 18 basis points (bps) year-on-year (YOY) to 3.47% for the second quarter (2Q/18), but down 4 bps sequentially. The Big 6 (Chase, Bank of America, Capital One, Citibank, American, Express, Discover) reported an aggregate charge-off ratio of 3.47% for 2Q/18, compared to 3.51% for 1Q/18…

Credit Card Marketshare U.S. 2Q/18

Credit Card Marketshare Holds Steady for Top Four U.S. Payment Networks

Credit card marketshare, among the nation’s four major payment card networks, produced $1747 billion in U.S. gross dollar volume (GDV) in the second quarter (2Q/18) for a 9.3% year-on-year (YOY) gain. Visa continues to rule the market, growing its U.S. GDV marketshare from 61.1% in 2Q/17 to 61.4% in 1Q/18. VISA Visa posted a 9.3%…

Cross-Border Transactions

Cross-Border Volume (FX) for Visa & Mastercard Transactions Slipped a Tad in Q2

Mastercard’s cross-border volume, on a currency adjusted basis (FX), soared in the second quarter (2Q/18) outpacing Visa by 158 basis points (bps) year-on-year (YOY). Sequentially, quarter-to-quarter (QTQ), Mastercard slipped a 121 bps, compared to Visa’s flat performance YOY. Cross-border transaction volume refers to payments and cash volume where the issuing country is different from the…

Big 6 Credit Card GDV

Credit Card Gross Dollar Volume Tracks with the U.S. Economy Entering Double-Digit Growth YOY

Credit card gross dollar volume (GDV) among the big U.S. six U.S. bank card issuers, rose an estimated 10.7% year-on-year (YOY) in the second quarter (2Q/18). Capital One led the peer group with a high double-digit growth YOY in 2Q/18, followed by Chase and American Express, respectively. Chase, Bank of America (BofA), Capital One and Citibank…

Credit Card Rates Rise Nationally

Credit Card Rates Rise Nearly 150 bps YOY or 2X Prime Rate Increase

Nominal credit card rates among banks and credit unions nationally increased 137 basis points (bps) in the second quarter (2Q/18) year-on-year (YOY) while rates assessed on accounts with balances rose 154 bps over the same period. Sequentially, nominal interest rates rose 51 bps as accessed credit card rates increased 22 bps. Nominal credit card interest…

Credit & Debit Cards Globally

Circulation of Payment Cards Worldwide Rises 6% YOY in Q2 & to Top 5.5 billion EOY

Payment cards worldwide or cards-in force (CIF) [credit + debit] grew by 6.4% year-on-year (YOY) in the second quarter (2Q/18) to 5412 million, compared to 5323 million for 1Q/18 and 5088 million, one-year ago. All the four major U.S. based payments networks posted gains in 2Q/18, according to CardData. Visa and MasterCard Rule the Planet…