US leads global commercial card market: report
Payments Dive
MAY 8, 2024
accounted for 58% of global commercial card spend last year, but also for 78% of total value lost to card fraud, according to a report by Euromonitor International.
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Accenture
OCTOBER 11, 2021
Credit Card Receivables & Purchase Volume YoY Growth: 2Q21 Earning call commentary Growth “We’ve ramped up our acquisition engine. We’re pleased to see overall acquisitions of proprietary cards, which include our co-brands, increased to 2.4 million new cards acquired in the quarter.”–
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Accenture
NOVEMBER 16, 2021
The post Q3 2021 US credit card issuer snapshot appeared first on Accenture Banking Blog. Purchase Volume growth continues to be quite strong, with all issuers reporting 15%+ YoY growth; AmEx and Chase, in particular, reported over 30% YoY growth.
Accenture
MARCH 11, 2021
The post Q4 2020: US credit card issuer snapshot appeared first on Accenture Banking Blog. Key themes Purchase volume continued to show signs of recovery as all issuers reported QoQ growth in spend and some had YoY growth; Alliance Data posted the strongest QoQ growth of ~25%, likely as a result of easing retail lockdown restrictions.
Accenture
SEPTEMBER 16, 2021
The post Q2 2021 US credit card issuer snapshot appeared first on Accenture Banking Blog. Key themes Purchase volume has continued to exhibit a strong rebound (up 20%+ QoQ for all issuers) and has largely returned to pre-pandemic levels; American Express, in particular, points to a healthy return of T&E spend as a growth driver.
Accenture
DECEMBER 1, 2020
The post Q3 2020: US credit card issuer snapshot appeared first on Accenture Banking Blog. Key themes Purchase volume experienced a significant rebound in Q3 relative to Q2, as pandemic lockdowns generally eased during the quarter; spend has not yet recovered to pre-pandemic levels – all issuers reported negative YoY growth.
Accenture
DECEMBER 10, 2019
Each quarter, Ryan Douglas from the Card Issuing group reports on recent developments for the US consumer credit card sector and compiles key metrics reported by the largest US banks (spend, receivables, loss rates and returns). The post Q3 2019: US credit card issuer snapshot appeared first on Accenture Banking Blog.
Accenture
AUGUST 31, 2020
The post Q2 2020: US credit card issuer snapshot appeared first on Accenture Banking Blog. Alliance Data and American Express, in particular, experienced a 30%+ decline in spend YoY, driven by the headwinds of store-based retail (ADS) and T&E sectors….
Accenture
JUNE 12, 2020
The post Q1 2020: US credit card issuer snapshot appeared first on Accenture Banking Blog. However, charge-off reserves spiked due to expected future losses, which caused negative returns for most issuers. YoY growth in receivables for Q1 2020 was modest at 1.9%, and below the 4% YoY….
Accenture
APRIL 7, 2020
The post Q4 2019: US credit card issuer snapshot appeared first on Accenture Banking Blog. Purchase volume YoY growth of 7% in Q4 is lower in comparison to Q3 YoY growth by ~100 bps, and lower than Q4 2018 YoY growth by ~130 bps. Chase and Capital One continued to lead YoY purchase….
Accenture
FEBRUARY 10, 2020
US commercial card spend grew an estimated 13 percent in 2019 and strong growth is expected to continue through 2024. Long-standing and emerging commercial card providers are developing innovative strategies to move more spend to card-based products, and broader B2B payment trends are anticipated to both blur the lines and buoy growth.
Bank Innovation
FEBRUARY 11, 2020
Its product offering is a physical and digital card that consolidates multiple bank accounts and cards into […]. -based payments consolidation startup Curve has officially opened its first North American office in Brooklyn, N.Y., aiming to extend its products to a select group of U.S. customers by the end of this year. ?
Accenture
AUGUST 20, 2019
Each quarter, Ryan Douglas from the Card Issuing group compiles key metrics on US consumer credit cards, tracking spend, receivables, loss rates and returns reported by the largest US banks. American Express and US Bank led all issuers in receivables growth with YoY increases of over 8.5 Key themes.
PYMNTS
AUGUST 20, 2019
The Apple Card, a credit card created in partnership by the technology company, was officially released in the U.S. The company said the credit card is meant to help customers have a “healthier financial life,” and that interested customers can sign up for the card through the Wallet app on an iPhone. . on Tuesday (Aug.
Accenture
MAY 30, 2019
Each quarter, Ryan Douglas from the Card Issuing group compiles key metrics on US consumer credit cards, tracking spend, receivables, loss rates and returns reported by the largest US banks. Credit card profitability remains attractive for banks with our ROA proxies increasing 43 bps YoY?. New partnerships.
PYMNTS
DECEMBER 14, 2020
Chase Bank and Mastercard have partnered with Air Canada to introduce the airline’s Aeroplan credit card in the U.S. Chase’s many strengths, including digital innovation, customer service excellence, and a world-class brand, will help us deliver a best-in-class product for U.S.-based issuers at Mastercard. . and is the U.S.
PYMNTS
NOVEMBER 15, 2020
consumers have been paying down payments on credit cards with the pandemic continuing to hamper spending opportunities, which has led to dramatically falling bank card loans, The Financial Times (FT) reports. According to the report, the total amount of card loans in U.S. Revolving debt was down $9.4
PYMNTS
NOVEMBER 18, 2020
Americans paid off $10 billion in credit card debt in the third quarter (Q3) of 2020, but borrowed more for car and housing loans, according to a report in the Wall Street Journal (WSJ) citing the Federal Reserve Bank of New York. Non-housing balances — credit cards, auto loans, student debt — are up $15 billion. percent, but down 0.2
The Paypers
OCTOBER 12, 2023
Apple Wallet ’s new integration has enabled it to show the card’s details and transaction history for Discover US credit card customers.
PYMNTS
MAY 1, 2019
Credit card losses at the biggest banks are outpacing auto and home loans, with the biggest margin seen in the last 10 years, according to Bloomberg. Credit bureau Experian said some of the blame comes from banks giving cards to risky borrowers, and that there is a spike in late payments from elderly consumers. For us, the U.S.
PYMNTS
JANUARY 18, 2021
Infineon Technologies , which works as a semiconductor manufacturer, is doing away with employee identification cards at its Germany headquarters and instead implementing a new smart card solution that combines office building access and Mastercard contactless payments capabilities, according to a FinTech Intel report.
PYMNTS
NOVEMBER 18, 2020
consumers paid off $10 billion in credit card debt in the third quarter of 2020, and Amazon Pharmacy launched for consumers to order prescription medications. US Consumers Pay Down $10B in Credit Card Debt In Q3. In today’s top news, U.S. Plus, Walmart+ gets a closer look after the retail giant’s third-quarter earnings call.
BankBazaar
APRIL 13, 2023
B ig wad of cash or a sl eek Credit Card ? Let’s help you figure out the pros and cons of both when travelling abroad , along with a few pro tips on using Credit Card s overseas. You do not have to state the purpose of your visit to us, but we know for sure that you are going to spend when in a foreign country.
Bank Innovation
FEBRUARY 20, 2020
Rapyd, a startup that converts international payments, announced a partnership with Visa this week to grow its card issuing business. “A A major opportunity for us, and we’re seeing this around the world from a sheer use-case perspective, is card issuing,” said Marc Winitz, chief marketing officer at Rapyd.
FICO
FEBRUARY 16, 2023
For 2022, we saw a significant increase in compromised cards resulting from skimming activity. Total compromise cards were up 368% from 2021, with more than 161,000 impacted cards identified — nearly a 5x increase over 2021. Across the US, we saw clear geographic focal points for skimming activities.
Payments Dive
DECEMBER 17, 2019
Despite the plethora of payment choices we have today, many of us are still using our debit cards. Carol Specogna, Fiserv's VP of card services, gives an overview of the market and talks about new technologies that FIs can leverage to boost their debit card revenue.
PYMNTS
JANUARY 27, 2021
In " A Look Forward: What Executives Wish for America and the World in 2021 ," Nat Salvione, chief commercial officer of Tango Card , discusses the innovations that have emerged since the pandemic: specifically, the use of pay-ahead apps and remote team engagement. It took us several months before we hit our groove working remotely.
Payments Dive
APRIL 6, 2022
While overall Russian card payments volume is expected to decline as U.S. card companies exit the country, Russia's Mir payments system and related cards may benefit, according to new research. payments companies are expected to forgo about $2.4 billion in annual revenue.
PYMNTS
JANUARY 20, 2021
Other than small things like a pen or providing staff with free coffee, anything given to employees that has a clear cash value attached to it is considered taxable by the IRS, said Nat Salvione , chief commercial officer of Tango Card. He cited the National Retail Federation , which found gift cards have been a top gift for over a decade. “If
PYMNTS
JULY 9, 2020
Accrualify , which works in cloud-based solutions for mid- and enterprise-level companies, is launching a new corporate card in partnership with Visa , according to a press release. The intent of the card is to boost options for spend control for corporate finance teams.
Accenture
OCTOBER 4, 2021
The post Q2 2021 US retailer payments commentary appeared first on Accenture Banking Blog. Customers can interact via chat and screen sharing to see physical products.” – Best Buy “Piloting a new holistic market approach … to leverage all our assets across….
PYMNTS
AUGUST 12, 2020
Nium , the global FinTech platform, announced in a press release emailed to PYMNTS that users will be able to make payments through Google Pay with its company Visa cards. The Google Pay partnership lets those cards work through many more payment terminals and options.
BankBazaar
OCTOBER 13, 2023
Do you know everything about Credit Card rewards? Do you know everything about your Credit Card? There are quite a few myths around Credit Cards that stop people from getting the best out of their cards. Let’s debunk some of the most common myths related to Credit Cards and their reward points now. Let’s find out.
PYMNTS
DECEMBER 14, 2020
Molnar said Afterpay is not only benefiting from its easy-to-use platform, but also from the fact that consumer preference has shifted toward using debit over credit. Ninety percent of our transactions are paid with a debit card, not a credit card,” Molnar said. million U.S. Lower Loss Rates.
PYMNTS
APRIL 12, 2018
Bank is mobilizing Mastercard commercial card products, the financial institution (FI) announced on Wednesday (April 11). Bank Corporate Travel Card said it will now support mobile payments for corporate customers using business travel cards that run on the Mastercard network. In a press release , U.S.
PYMNTS
DECEMBER 11, 2020
I don’t foresee us reverting to the way it used to be even after the pandemic is over and we are able to walk around without masks on.”. Mao, whose company provides solutions for payments, prepaid cards and gift cards, said the only way for merchants to go is forward, because going back isn’t an option.
BankBazaar
DECEMBER 18, 2023
The joy of spending and saving simultaneously is assured with a Cashback Credit Card. Learn more about the most popular Credit Card category in India right here! Did you know that there is an indisputable MVP when it comes to the top-selling Credit Card type in India? But is that all? Not permissible. Balance transfers?
PYMNTS
OCTOBER 6, 2020
Credit card launches happen a lot, and tend to blend together after a while, particularly for payments peeps who keep a close eye on such things. But Venmo – which dropped its first credit card for consumers on Monday (Oct. Splittable Card Payments . Instead, Venmo’s entire DNA is digital. Designing In Choice.
PYMNTS
OCTOBER 7, 2020
Smaller companies were the focus of innovation in the commercial card space this week thanks to new cards designed for small and medium-sized businesses (SMBs). American Express, Amazon Rollout Card For UK SMBs. American Express rolled out co-branded cards with Amazon for British SMBs.
PYMNTS
AUGUST 15, 2019
An increasing number of Americans are struggling to keep up with their student loan and credit card debt, Reuters reported on Tuesday (Aug. Credit card debt has reached $868 billion and balances seriously past due are on the rise, according to Federal Reserve Bank of New York data released on Tuesday, the report said. “We
PYMNTS
NOVEMBER 16, 2020
This method involves bad actors impersonating customers and convincing mobile service providers to transfer the victims’ phone numbers to their own SIM cards, allowing these fraudsters to seize control of any accounts linked to that phone number. Why Fraudsters Swap SIM Cards. It's that easy.”. How Digital Identity Curbs The Threat.
PYMNTS
NOVEMBER 23, 2020
23) that they have entered a strategic partnership to launch Visa Commercial Pay, billed as a suite of B2B payment solutions for enterprises making the shift to digital transactions, and, specifically, virtual cards — and away from paper-based manual processes. Visa and Conferma Pay said Monday (Nov. Three Components .
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