Visa, Inc profits for the third calendar quarter slipped to $1.07 billion, a 10% decline over the year ago quarter. Payments volume growth, on a constant dollar basis, for the three months ended September 30th, was 11% over the prior year at $1.2 trillion.
MasterCard (MC) posted a stunning 15.5% year-on-year (Y/Y) profit growth to $1015 million for the third quarter. Worldwide purchase volume during the quarter was up 11% on a local currency basis versus the third quarter of 2013, to $843 billion.
Google, PayPal, Amazon, Apple, Hypercom and Verifone alums have created the world’s first “smart” payment terminal. CA-based Poynt’s new terminal combines a mobile device to a future-proof payment terminal at a resonable price.
San Francisco-based Revel Systems has taken iPad POS to a new level. Revel becomes the first iPad POS system to accept commissions, even allowing for splitting commissions between two employees.
Financial services attorneys Morrison & Foerster have introduced an app offering regulatory overviews, alerts, articles, and a weekly digest of market developments.
GA-based TSYS reported a solid third quarter as total revenues for hit $616.9 million, an increase of 8.1% over the prior year. Income from continuing operations attributable to TSYS shareholders was $82.9 million, an annual increase of 27.9%.
Jacksonville, FL-based FIS reported third quarter revenue increased 6.9% to $1.605 billion from $1.502 billion a year earlier. GAAP net earnings from continuing operations was $152 million down 13.1%,compared to $175 million in the prior year quarter.
UL launched its Collis Visa Cloud-based Functional Test Suite. Implementing the Visa Cloud-based Payments Contactless Specification (VCPCS v1.4) through Visa’s relatedVCPCS test plan, it helps Visa card issuers in testing and precertification of their Visa payWave mobile payment applications implemented as a Host-based Card Emulation (HCE) compatible mobile application.
Naples-based ACI reported new sales bookings, net of term extensions (SNET), increased 6% in the third quarter, compared to the prior year quarter. Overall sales bookings including term extensions increased 18% compared to the prior year.
Google’s announced a new way to add money to its Wallet Balance by automatica recurring bank transfers for faster access and no Google Wallet fees. There are no fees or minimum balance requirements for the Wallet Balance.
Cambodia’s largest banking institution has inked a deal to grow Discover and Diners Club card acceptance in Cambodia. The agreement enables Discover and Diners Club customers and cardholders payment acceptance in Cambodia provided via ACLEDA Bank ATMs and merchants.
A new study finds banks across the globe, especially from more mature economies, are increasing their innovation investments in 2014 compared to 2013 to keep pace with increasing customer expectations and respond to new market entrants.