The average charge-off ratio among the nation’s four largest issuers increased 12 basis points (bps) quarter-to-quarter (QOQ) to 3.09% in the first quarter (Q1/15). The top 100 U.S. banks posted a 10 bps increase QOQ to 3.07%, according to CardData.Details
Purchase Dollar Volume (PDV) for Visa, MasterCard, Discover and American Express U.S. credit cards is expected to reach $4.2 trillion annually by year-end 2019. According to forecaster RAM Research, the U.S. PDV for the U.S. credit card industry is growing at a CAGR of 9.99%.Details
The number of Japanese merchants accepting the China UnionPay card has soared 20% over the past year to nearly 400,000.
The weak Yen and easing of the Japanese visa policy is attracting more Chinese tourists this year as UnionPay adds special incentives.
A recent survey found global financial services industry executives are increasingly required to do more instant decision making. Three out of four respondents said they process immediate payments of one kind or another, and this number will grow as projects underway in countries such as Australia are implemented and planning progresses within Europe’s SEPA framework and the U.S. Federal Reserve.Details
A portfolio of 15 U.S. granted patents and 9 applications, disclosing a comprehensive set of systems for improving and securing the existing payment card system is going up for sale. It contains the work of inventor Moon J. Kim, a former IBM Master Inventor and named inventor on over 120 patents.Details
PA-based USA Technologies (USAT) has inked a multi-year agreement strategic deal with Chase Commerce Solutions (CCS). The agreement will give USAT a bigger reach for products and services domestically as well as outside the U.S and CCS will gain access to a new customer base via the unattended self-service retail market space.Details