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%.
MasterCard and Cardlytics inked an agreement to deliver targeted card-linked services to US banks of all sizes. The new partnership will match Cardlytics card-linked marketing solutions and advertising expertise with MasterCard’s bank partners and its offers and rewards platform to deliver a solution that is unsurpassed in the loyalty business.
CT-based CardFellow, a free web-based service helping businesses find their perfect credit card processor reports its client portfolio now exceeds $1 billion in transactions processed each year. The Company also inked an agreement with credit card processor Payment Depot.
First Data posted 3Q/15 revenue of $2.9 billion, up 5% year-on-year (YOY). Segment revenue, which modifies consolidated revenue for pass-through items and other impacts, was $1.8 billion for the quarter, up 4% YOY, or up 7% excluding currency impacts.
Chase injected new iife into MCX and CurrentC with the launch of
Chase Pay. MCX – which includes retailers such as Walmart, Target, Best Buy and Shell – will be Chase Pay’s premier partner.
MasterCard has launched a major push to bring MasterCard payments to a wide array of consumer products across the automotive, fashion, technology, and wearables.
Visa has integrated token technology into Visa Checkout, the company’s online check out service used by merchants and consumers globally. Additionally, Visa is working with merchants to apply token technology to “cards-on-file.”
USA Technologies (USAT) is expanding its proprietary MORE rewards and loyalty program to partners nationwide, providing access to custom rewards and discount programs for all 333,000 locations connected to the ePort Connect service.
Zebit has launched the first fully automated payment system providing zero-interest credit to the 68 million Americans underserved by traditional financial services but willing to pay up to MSRP prices for electronic products.
Just four weeks after its launch in the U.S., Samsung Pay is proving its biggest advantage is broad acceptance enabled by Samsung’s MST (Magnetic Secure Transmission) in combination with NFC. Blackhawk Network has teamed with Samsung Pay to enable the integration of gift cards into the Samsung Pay mobile payment solution.