Android has the largest worldwide market share because Google lets partners adapt and expand Android with hardware and software variations. The primary challenge is to establish a center of gravity that will pull the Android value chain toward a common payment implementation.
CT-based Choice Merchant Solutions has launched a new division designed to extend the benefits of international e- commerce business to domestic clients by offering affordable credit card processing services that enable U.S. businesses to compete on a global scale.
The payments cards industry profitability has been in the dumper since 2009, but is slowing crawling its way out over the past six years. Payment investment banker and guru R.K. Hammer says this year credit card ROA’s could top 4%.
U.S. Visa (VS) and MasterCard (MC) credit card U.S. Gross Dollar Volume (GDV) hit $507 billion in the fourth quarter. For the fourth quarter VS and MC domestic credit card GDV grew 15.5%, strongly driven by Visa.
After hunkering down, Millennials will make 2015 a year of major purchases and life experiences new research shows. The country’s 80 million Millennials say they will be wielding their wallets in the months to come a “swan song” for retailers.
Synchrony landed a multi-year renewal of its private label credit card program with Rooms To Go. The program was first launched in 2002.
A new survey shows 68% of participating firms offer residents the option to pay their rent or HOA dues online. An increasing preference among Americans to manage bills online, combined with more cost-effective, easier to implement payment solutions are believed to be fueling the growth.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Francisco D’Souza, Chief Executive Officer of Cognizant.
Visa profits for the fourth calendar quarter increased 11.5% year-on-year (Y/Y) to $1.57 billion and soared 46.0% sequentially. Visa took a $450 million pre-tax litigation provision, or $283 million on an after-tax basis, in the third quarter related to the interchange multi-district litigation case.
MasterCard (MC) fourth quarter profits rose 28.6% year-on-year (Y/Y) but down 21.0% from the prior quarter to $801 million. Over the prior five quarters MC has averaged $848 million in quarterly profits, according to CardData.
Visa Europe reports the amount spent at point-of-sale broke through €1.5 trillion for the first time last year, a rise of 9.4% from 2013, with a total of 37 billion transactions. This means Visa now accounts for €1 in every €6 spent in Europe.
Prepaid card specialist Green Dot reported a 10.4% year-on-year (Y/Y) gain in Gross Dollar Volume (GDV) and a 6.9% increase Purchase Dollar Volume (PDV), for the fourth quarter.