• Ryan Douglas
• 11 Mar, 2021

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. Receivables growth was modest over last quarter but still down significantly YoY; many issuers point to high payment rates as a factor for the low receivables growth vs. high sales volume growth.
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