MasterCard (MC) third quarter profits declined 3.7% year-on-year (YOY), or discounting special items up 1%, or up 9% on a currency adjusted basis (FX) to $977 million.
PayPal racked up a 10.2% gain in year-on-year (YOY) accounts to 173 million. Gross transactions soared by 25.1% from 972 million in Q3/14 to 1216 million for 3Q/15.
Barclaycard US has launched the #IHAVEARRIVED Travel Community contest, hosted by its Arrival MasterCard. Cardmembers who enter, have the opportunity to win an exclusive grand prize trip for two to the 58th Annual GRAMMY Awards in February 2016.
The ATM channel has become the foundation for an increasing number of interactions with financial institutions and their customers and members. New research concludes ATMs are often filling many of the roles of traditional tellers, at least for day-to-day transactions.
New research finds if a bank offered a mobile wallet, 51% of the respondents are likely to use the bank-offered mobile wallet.
Also, 82.8% have a smartphone, but 12% of those with a smartphone do not plan on using a wallet of any kind just yet.
The inclusion of biometrics in mobile devices will generate approximately $9 billion worth of revenue by 2018 for the biometrics industry, not just through unlocking mobile devices through security applications, but also through multi-factor authentication services and the approval of instant electronic payments.
In today’s CardFlash News Que: AMERICAN EXPRESS (holiday); Q-CARD (KEOLABS); NXT-ID (StackCommerce); and VORMETRIC (breaches).
Houston-based P97 Networks says they will launch a program to enable mobile commerce with Chase Pay to pay at the pump and make in-store purchases with their smart phones.
In today’s CardFlash News Que: PIVOTAL (FlexPoint); TARZIN (Circle Plus); IWALLET (patents) and UBERRUSH (Clover).
After a biting poor third quarter with profits slipping 10.7% and the 2016 forecast dismal, American Express is shuffling executive suits to cut costs. Josh Silverman is out and other executives have greatly expanded responsibilities.
Wells Fargo is now the only major U.S. bank not charging a foreign transaction fee on all of its small business credit cards. The bank removed its foreign transaction fees on all business credit card and business line of credit access card transactions made outside the U.S,. effective October 1st.
GA-based acquirer TSYS reported a solid third quarter
with total revenues of $707.9 million, an increase of 14.8%.
Income from continuing operations attributable to TSYS’ shareholders was $120.6 million, an increase of 45.5%.