First Data and eWAY eCommerce announced a partnership to expand into Asia’s rapidly growing eCommerce markets. This alliance establishes First Data Merchant Solutions (FDMS), First Data’s direct-to-market merchant acquiring business, as a trusted payments provider to eWAY’s merchant network.
CardWeb.com’s CardData financial database projects Capital One’s (COF) after-tax profits will likely remain flat in the third quarter. COF reported a 5% year-on-year (Y/Y) decline in second quarter (Q2/14) after-tax U.S. bank credit card profits to $607 million. The decline was primarily driven by a 14% Y/Y decline in net interest income.
CardWeb.com’s CardData financial database projects Chase credit card Purchase Dollar Volume (PDV) to remain strong in the third quarter and will likely top $122 billion. Chase will also likely top 66 million accounts at the end of the third quarter. Chase will release third quarter results on October 14 at 8am EDT.
Prepaid card specialist, Blackhawk Network, has inked a deal to acquire Parago for about $290 million. Parago is a provider of end-to-end engagement management programs for consumers, sales channels and employees has more than 250 customers, including Fortune 100 companies, multi-national corporations and global consumer brands.
WA-based BioTrackTHC is aiming to remove the banking roadblocks for states with active marijuana businesses. The new BioTrackTHC STS Multi-Point verification banking program is intended to solve all of these issues within one module for banking, credit cards, and debit solutions.
CardWeb.com’s CardExecs database today features Frank Martien,
Partner, Commercial Payments, First Annapolis Consulting. First Annapolis advises credit and debit card issuers, transaction processors, payment networks, retailers, and other industry stakeholders in payment-based sectors of the financial services industry.
Big data is full of hype and it’s hard for IT leaders, especially payments companies, to know how to exploit its potential. A new report dispels five myths and concludes IT leaders need to cut through the hype and confusion, and base their actions on known facts and business-driven outcomes.
San Francisco-based Affirm says its installment financing service for online shoppers and merchants is going gangbusters. Affirm lets shoppers pay for purchases across multiple months with transparent, fairly-priced fees built into every payment, and boosts conversion and basket size for eTailers at less than the cost of credit cards.
Wallaby Financial and CreditCards.com announced the launch of the WalletUp Mobile App. The new App will enable consumers access a comprehensive set of financial resources including a personalized recommendation on which credit card to use at the point of purchase to maximize their rewards.
CardWeb.com’s CardPixes database of more than 7,000 card images today features the BECU Visa card. The BECU Visa card is issued by the Boeing Employees’ Credit Union.
CA-based Kofax says a mobile money management and remote deposit capture (RDC) solutions provider recently switched to Kofax Mobile Capture Platform. The undisclosed, but rapidly growing customer, serves medium sized banks with under $20 billion in assets.
Capital One (COF) has nailed the title sponsorship of the Orange Bowl for this year. The multi-year ESPN deal builds on Capital One’s substantial support of college athletics by becoming the official credit card and bank of the new College Football Playoff.