Discover bests the four top Visa and MasterCard issuers with solid growth in outstandings. However, Discover’s gross dollar volume (GDV) rose 6% to $31.7 billion, compared to $28.1 billion in Q1/14 and $29.7 billion in Q2/13. Volume growth was lackluster compared to the Big 4 Visa and MasterCard issuers.
TSYS racks up record revenues in the second quarter. In the North America segment, TSYS reported the largest quarter of transaction volume in history at 2.7 billion. In the NetSpend segment revenue rose 11.4% to $116.8 million.
Alliance Data Systems private label credit card loans soared double digits in the second quarter. The ADS Epsilon unit was up 8% year-on-year. The ADS LoyaltyOne segment now consists of the AIR MILES Reward Program in Canada, the recently acquired BrandLoyalty, which operates primarily in Europe and a new JV with dotz in Brazil.
Wells Fargo takes its Commercial Card Expenses Reporting service to a new level with a new app. The new Wells Fargo CEO Mobile app enables users to upload paper receipts for processing and reimbursement by simply snapping their photos.
Allied Wallet payment gateway, has been selected for the 2013 United States Excellence Award by the US Trade & Commerce Research Institute (USTCRI). This is because Allied Wallet LTD has consistently demonstrated a high regard for upholding business ethics and company values. This recognition by USTCRI marks a significant achievement as Allied Wallet continues to emerge as a leader in its industry. By setting new benchmarks and forming new standards for security and functionality, Allied Wallet is able to provide a better solution for its merchant base.As part of the industry research and business surveys, various sources of information were gathered and analyzed to choose the selected companies in each category. This research is part of an exhaustive process that encapsulates a year long immersion in the business climate of the United States economy.
Happy Belly Curbside Kitchen serves fresh, organic and local cuisine to Atlanta-area customers from its lime-green food trucks. They have implemented the NCR Silver mobile point-of-sale to help grow its “farm to street” business. The NCR solution is iPad based for small businesses. NCR Silver tablet POS runs in the cloud, uses consumer-friendly technology, and works on Apple devices running the latest iOS.
Heartland Payments Systems expands into the parking services industry with a major SP+ deal. Heartland is now the largest third party payment network provider in the parking industry. SP+ manages more than 4,200 parking facilities containing approximately 2.1 million parking spaces in hundreds of cities across the U.S. and Canada.
Cardtronics will acquire Welch ATM for $160 million. The combined company will support a global portfolio of 109,600 ATMs, including 92,500 conveniently located retail ATMs in the United States. The combination of Cardtronics and Welch ATM will bring together two top-performing retail ATM services providers, with complementary customer bases and sales capabilities. Cardtronics has demonstrated success placing ATMs with national chain retailers and forming ATM branding relationships with national and international financial institutions. Welch ATM has established its core strength around delivering ATM services to mid-market retailers and ATM branding to mid-tier banks and credit unions. The combined business will be positioned to accelerate revenue growth, achieve cost synergies, create additional value for its retailer and financial institution customers, and drive shareholder value. Welch ATM is a nationwide retail ATM and financial technology services provider, with more than 26,000 ATMs under its management.
Robert Selander joins the Western Union Board. Selander was CEO of MasterCard Incorporated and MasterCard International from April 1997 until July 2010. Before joining MasterCard in 1994, Mr. Selander spent two decades with Citicorp and Citibank.
Standard Chartered announced that it has expanded its African coverage of Straight2Bank Wallet, the Bank’s mobile wallet service platform, by launching mobile payment services in Nigeria and adding mobile collections capabilities in Kenya. The Bank launched mobile payment services in Kenya in September 2013.In Nigeria, the Bank has partnered with eTranzact International Plc. to provide mobile payment services through its Straight2Bank Mobile Wallet. This is in line with the Central Bank of Nigeria’s (CBN’s) Financial Inclusion strategy to the unbanked and semi-banked population.The new mobile payment service enables clients such as development organisations, international organisations, non-bank financial institutions, agricultural companies and fast-moving consumer goods (FMCG) companies to make payments to both banked and unbanked individuals such as aid workers, trainers, policy holders, farmers and other beneficiaries.
All of the top Visa and MasterCard issuers posted significant gains in purchase dollar volume in the second quarter, with Chase and Capital One leading the pack with double digit gains. However, as reported last week bank credit card outstandings were weak in Q2 and losing momentum as there is a discernible change in recent cardholder behavior.
ShopKeep announced Custom Email Receipts , a significant enhancement to its point-of-sale solution that hits the market just one week after a range of other upgrades targeted at bars and restaurants. Customized Email Receipts’ key capabilities include better branding, social media, allows users to collect feedback and use big data to boost profitability, special offers and an entirely ‘owned’ database: Enjoy complete ownership and access to your mailing list at all times.Unlike other point-of-sale providers, all customer information, including email addresses, collected through the ShopKeep POS belongs to the business owner. Other vendors claim that data as their own and sell it.