Visa Research Labs is expanding its research and development capabilities globally. Visa Research Labs will focus on applied science and deep research.
MasterCard (MC) first quarter profits rose 17.2% year-on-year (YOY) or 24.0% on a currency adjusted basis (FX) to a record $1020 million. Global purchase volume rose 12% (FX) to $783 billion and end-of-period (EOP) global cards-in-force (CIF) hit 2.2 billion.
New research on customer retention surprisingly reveals that companies encouraging their customers to switch products can increase rather than decrease customer turnover. Therefore, proactive retention campaigns may backfire producing higher attrition.