In today’s CardFlash News Que: MASTERCARD (Italy); BLUESNAP (award); UNIONPAY (Taiwan); and PAIDEASY (payments).
A basket of patents are for sale in regard to fraud prevention for online (or telephonic) purchases. The patents come from Searchlite Advances and will be offered as part of the Internet of Things IP Auction, with a bidding deadline of July 30th.
MasterCard’s net income will likely top a record $1.2 billion in the first quarter of 2016. Forecaster RAM Research predicts MasterCard net income for the second quarter will be $1091 million, due to the continued strengthening of the U.S. dollar.
Visa’s quarterly net income is projected to slow for this year and hover at the $1.5 billion mark in the fourth quarter and the first quarter of 2016. Forecaster RAM Research predicts Visa net income for the first quarter will be $1504 million, due to the continued strengthening of the U.S. dollar.
NY-based Transfast has launched mobile and online money transfer services to nine banks in Pakistan. Pakistan attracted about US$17 billion in remittances in 2014, making it the seventh-largest remittance market in the world.
MasterCard has launched a new disruption to the payments ecosystem with the launch of MasterCard Send. MasterCard Send is the only personal payments service that can reach virtually all U.S. debit card accounts and enable funds to be sent and received typically within seconds.
Digital payments are coming of age as Visa Checkout increases consumer engagement and higher order values for online merchants. A new report from comScore found that Visa Checkout shoppers convert to online buyers at a rate of 69%.
Chicago-based Vibes’ Catapult Wallet Manager platform now supports Apple Watch. Vibes sends more branded content (coupons, loyalty cards, etc.) to Passbook than any other tech company.
NY-based HYPR is releasing its Biometric Security Integration Kit, an end-to-end biometric security suite intended for developers and manufacturers across the ever-expanding Internet of Things (IoT). The kits are expected to ship in July in the U.S., Canada, and Europe.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features John Perry, Chief Executive Officer of Bluefin.
CardWeb.com’s CardData database of Company Profiles today features BitPay.
Despite the growth of purchase volumes, consumer leverage, as estimated by the financial obligations ratio (FOR), which measures debt service payments on mortgage debt, auto debt, consumer debt and property taxes as a percentage of disposable personal income, continued to decline, amounting to 15.27% in fourth-quarter 2014. This compares with a peak FOR of 18.09% recorded in fourth-quarter 2007 and a 35-year average of 16.51%. As interest rates rise, and consumers experience higher debt service burdens.