Since 2008, the top five general purpose credit card issuers in the U.S. have logged more than $1 trillion in aggregate annual credit card payments volume. While actual credit card debt or revolving balances took a beating after the Lehman-inspired credit meltdown of late 2008, credit card usage has consistently been growing. Since 2009, credit card charge volume has skyrocketed by 32.5%. During 2013, credit card volume jumped 8.3% compared to 2012. RAM Research predicts credit card volume will likely gain at least 9% this year over 2013.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] ChannelAdvisor Corporation cloud-based e-commerce solutions posted 4Q/13 financial results, featuring a record total revenue of $20.5 million for a 30% year-over-year increase in core revenue. Full-year 2013 total revenue was $68.0 million with a 29% year-over-year increase in core revenue. This illustrates that retailers are partnering with ChannelAdvisor as their strategic…
Pay.On web-based payment infrastructure systems and arvato infoscore have jointly developed active payment method management with dedicated risk protection during the checkout process. This allows retailers to automatically incorporate payment methods that comply with country-specific requirements into their payment pages. The checkout solution also includes direct access to more than 130 international payment methods. It also ensures that only risk-adequate payment methods are dynamically shown to different predefined customer risk groups. An intelligent and adaptive customer rating continuously reduces the risk of payment defaults to a minimum for PSPs and their merchants. The joint venture solution comprises the core areas of expertise of both PAY.ON and arvato infoscore. PAY.ON provides the active payment method solution, including direct access to its global payment network. Incoming cash flows are then rated in terms of risk by arvato infoscore on the basis of the risk management fulfilment solution ‘risk solution services’.
CardLinx, which facilitates the interoperability and growth of card-linked offers and Deem cloud commerce announced a new draft protocol. The CardLinx Chameleon Standard, for pro-actively combating fraud resulting from returns of CLO purchases is designed to strengthen the card-linked industry by protecting merchants from offer misuse. The new standard addresses when a rebate reversal should occur and capabilities for automatic reversals. It also establishes data reporting requirements that will enable detection of fraud patterns and fraudsters in real time. The CardLinx™ Chameleon Standard will play a critical role in card-linked commerce at a time when transaction security has become increasingly important.
International bank credit cards issued by U.S.-based issuers was in a funk in 2013. International bank credit card outstandings (EOP) are down 3.8% YOY and purchase sales volume has been flat, based on Q4 reports from Citibank and Capital One, both active international Visa and MasterCard issuers. At year-end 2013, Citibank had $33.6 billion in international credit card outstandings, down 3.2% from year-end 2012, after adjusting for the sale of Brazil Creditcard in 2013. Capital One with $8.05 billion in international credit card outstandings edged down 6.5%.
Weve is partnering with MasterCard, to accelerate the development of the UK’s most comprehensive contactless mobile payments system. The partnership will provide consumers with a fast, safe and convenient way to pay via their mobile phones at point of purchase and receive the offers they love. The partnership will allow consumers to take the next step in the contactless journey by tapping their mobile phone to make a payment.
First Data and The Members Group (TMG) are now offering an expedited EMV implementation to qualifying TMG clients. First Data is a global leader in payments processing and electronic commerce solutions. TMG, a leading payments processor, provides innovative, end-to-end payment solutions and proprietary, web-based card servicing and reporting tools to credit unions and community banks. First Data has qualified with both Visa and MasterCard to offer an expedited EMV credit card issuance program to financial institutions. The streamlined program, using standardized processes, supports TMG’s brand promise of “making life easier” for its clients by enabling them to launch their EMV programs quickly, efficiently and with reduced complexity. First Data has completed the steps necessary to offer the expedited EMV implementation process to qualifying financial institutions.
ICP Group POS specialists partnered payworks to provide mPOS services to its clients. ICP operates more than 120.000 POS terminals in 7 European countries and serves merchants such as Aldi Nord, Burger King and BVG-Berliner Verkehrsbetriebe. Under the agreement, payworks will support ICP in launching an own payment acceptance solution, enabling small- and medium-sized enterprises (SMEs) to take card payments with their smartphone. Merchants will use a mobile application together with a Chip & PIN device to accept card payments. They can view their historic transactions on their mobile device as well as on a separate, web-based merchant dashboard. In addition to the mPOS solution for SMEs, ICP will use payworks’ mobile POS SDKs and APIs to enable their existing customer base of retailers and merchant service providers to easily integrate both Card Present and Card Not Present functionality into their customized applications.
Jack Henry & Associates is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Symitar division announced that $140 million, Pennsylvania-based New Cumberland Federal Credit Union has selected Episys as its in-house core processing solution. The FCU management team participated in the evaluation of core systems and both in-house and outsourced operating environments and decided on the Symitar core system; a contemporary eServices solution for home and mobile banking; superior and consistent customer service; and a solid, reputable, financially stable company. After detailed system demonstrations, multiple existing customer site visits, and numerous existing customer reference calls the entire management team unanimously elected to partner with Symitar and install Episys in-house.
mPOS Tracker research highlights mPOS continues to expand internationally, particularly in emerging markets; is the number one priority for merchants ranking even higher than security; and receipts have the potential to become an important marketing channel for merchants. Conclusions show for the first time, mPOS and mobile solutions are viewed by merchants as their number one key priority. Also mPOS merchants have had their silver bullet all along. Sales artifacts were once thought of as only a required part of the transaction, but have now become important communication “canvases” to be used by merchants as important channels to the customer. And mPOS land grab focused on bringing customers to merchants. Amazon’s acquisition of GoPago could ignite SMB mPOS by handing small merchants not only a POS solution but one that supports its Pay with Amazon plug in, allowing them to serve 230 million+ consumers right from the start.
American Express reported fourth-quarter net income rose 8% to $103 million for its International Card Services unit while the Global Network and Merchant Services division posted a 13% rise in net income to $399 million. AmEx’s Global Commercial Services net Q4 income more than doubled to $182 million. AmEx says the increase in International Card Services total Q4 revenue of $1.4 billion was driven by higher cardholder spending and higher net card fees. Total Q4 revenue, net of interest expense, for Global Network and Merchant Services, also rose to $1.4 billion, reflecting higher merchant-related revenues driven by an increase in global cardholder spending. Global Commercial Services total revenues increased 2% to $1.2 billion, primarily due to higher cardholder spending.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] NCR Corporation 4Q/13 revenue of $1.67 billion is a 2% increase from the year ago figure. NCR reported fourth quarter income from operations of $297 million and diluted EPS of $1.21 compared to $411 million and $1.45 in the fourth quarter of 2012. Please refer to the tables and footnotes at…