MoneyGram may have turned the corner following the loss of the Walmart account as U.S.-to-U.S. transactions declined 37% in Q1, compared to a 40% decline in the fourth quarter. MoneyGram says lower pricing and self-service products in December was the primary driver.
Purchase dollar volume (PDV) for Visa, MasterCard, American Express and Discover cards (credit + debit) in the U.S. climbed 7.8% year-on-year (YOY) in Q1/15 reaching $1.1 trillion. Visa led the way in the first quarter posting a 9.0% YOY gain for U.S. PDV, according to CardData
NJ-based Heartland Payment Systems reported Small and Mid-Sized Enterprise (SME) quarterly transaction processing volume was $20.8 billion, up 15.6% from $18.0 billion in the first quarter of 2014. Also, quarterly net revenue was $190.3 million, up 22.4% from Q1/14.
MasterCard is taking an equity stake in First Performance to grow First Performance’s ability to offer payment card issuers and processors self-service tools for cardholders. The deal is a global extension of a license for the proprietary MasterCard In Control technology.
Voting from 3.2 million frequent travelers reveals the Southwest Airlines Rapid Rewards Premier Card is the top loyalty credit card in the Americas region. The annual Freddie Awards also voted American Airlines AAdvantage as the top frequent flyer program of the Year and Marriott Rewards as the top hotel loyalty programs in the Americas region.