Before the end of 2016, perhaps while loading their minivans and Malibus
with Christmas presents, Americans are expected to blow past a major
milestone. For the first time since the financial crisis, they’ll be
carrying more than $1 trillion in credit card debt.
--
Since the Great Recession, Visa, MasterCard, American Express,
and Discover have become increasingly efficient profit machines. In
2016 they’re on track to post $20 billion in earnings on $70 billion in
revenue, according to S&P Global.
--
And while many Silicon Valley seers thought mobile-payment platforms like PayPal
PYPL
and Apple Pay
would threaten the card oligopoly, the old guard has largely
co-opted the upstarts, making their own services compatible with the new
generation of apps. Fintech “used to be seen as the great threat,” says
Jim Sinegal, equity analyst at Morningstar, but for now digital
innovators are “just incorporating the existing ecosystem.”
http://fortune.com/2016/11/09/credit-card-stocks/
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