Synchrony Financial (f/k/a GE Capital Retail Finance) posted a 19.9% surge in fourth quarter (Q4/14) profits to $531 million, but slipped slightly from the prior quarter. Period-end loan receivables growth for the retail payment card giant remained strong at 7%, driven by purchase volume and average active account growth.
The first ever company in the world to manufacture and offer three kinds of product line up from Barcode and RFID reader devices, printer equipped payment terminals, and industrial tablets is gearing up to light up the payments arena.
The Supreme Court this week decided not to take up a merchant-filed appeal challenging the Federal Reserve’s 2011 rule-making on “reasonable and proportional” debit card fees.
San Francisco-based Xoom is incorporating Apple’s Touch ID technology into their mobile money transfers application. This gives customers the option to use their fingerprint data to sign in to the Xoom application on the iPhone 5s, 6 and 6 Plus.
Pentagon Federal Credit Union (PenFed), the second largest credit union credit card issuer, has named a new executive vice president of business development and government and community affairs.
Emerging Greenlight Planet unveils the Sun King Eco Easy Buy, a pay-as-you-go platform that enables customers to purchase Sun King Eco solar lamps in staggered 10-week installments. Greenlight Planet has sold over 3 million Sun King solar lamps, has 11 offices globally, over 700 full-time employees and 6,000 Sun King micro-entrepreneurs.
Discover continues to outpace the top Visa and MasterCard issuers with solid growth in fourth quarter outstandings. However, Discover’s gross dollar volume (GDV) rose 4.4% to $33.2 billion, below the average for the Big 4 Visa and MasterCard issuers.
American Express (AmEx) reported U.S. card service after-tax income declined 23.1% year-on-year (Y/Y) in the fourth quarter (Q4/14) to $665 million, compared to $864 million one-year ago.
eBay’s PayPal net total payment volume (TPV) for the fourth quarter grew 24% to $64.3 billion. PayPal gained 4.6 million new active registered accounts to end the quarter at 161.5 million, up 13%.
Sweden’s SEQR has forged a deal with MD-based FMS Solutions to offer retail grocery and independent supermarket clients a means for their customers to pay by smartphone.
Ingenico and Beamm, makers of cloud-connected POS and commerce technology for small businesses, launched the smart tabletPOS, combining powerful tablet POS software integrated with cloud-based tools to help merchants ring up sales, manage their business, engage customers and drive revenue.
TSYS and Ingenico have buddied to offer merchants a seamless and secure solution for accepting all payment types, including magnetic stripe, EMV, NFC and Apple Pay. TSYS is the first processor to Class A certify Ingenico Group’s new PCI 3.0-certified smart products ” the iCT 220 Contactless and iPP310 PIN pad.