MasterCard posted 2Q/11 net income of $608 million, up 32.8% from the the year-ago period, and net revenue of $1.7 billion, up 22.1% from 2Q/10. With this, cross-border volumes were up 19.3% while processed transactions increased 17.4%. Total operating expenses increased 20.8%, to $782 million, during the second quarter of 2011 compared to the same…
Fundtech posted 2Q/11 revenues of $40.5 million for a 16% increase from the year ago figure of $34.8 million and a 9% increase from 1Q/11 revenues of $37.2 million. Thanks to its merger with S1 Corporation, the Company’s 2Q/11 net income totaled $4.2 million, compared to the year ago figure of $3.5 million and $3.6…
First Data Corporation posted its 2Q/11 revenue up $135 million to $2.7 billion, up 5% from the year ago figure of $2.6 billion thanks mostly to increases in debit network fees and favorable impacts of changes in foreign currency. Net loss attributable to First Data, meanwhile, was $176 million, compared to $171 million a year…
U.S. Bank and SkoreIt! Internet penny auction have introduced their co-branded “SkoreIt! U.S. Bank Visa Gift Card” for SkoreIt website members. Serviced and fulfilled by U.S. Bank, the “SkoreIt! U.S. Bank Visa Gift Card” is welcomed everywhere Visa debit cards are accepted in the United States. Gift cards in denominations ranging from $25 to $500 are available for bidding and are personalized with either the bidder’s name or “A Gift for You” if the card is intended to be a gift. The dollar amount can also be embossed on the card.
ACI Worldwide payment systems officially launched its “ACI Financial Crime Consultancy Services” structured consultancy packages designed to improve the results achieved through the use of “ACI Proactive Risk Manager.” This gives financial institutions various programs of strategic, expert-services support from ACI’s technical, analytical and business consultants as part of their initiatives against fraud and financial crime. The consultancy packages offer a broad spectrum of services including setting up, staffing and operating a new fraud management practice; reviewing fraud operations; identifying areas for improvement; and optimizing the performance of automated fraud monitoring systems.
Cardtronics announced has acquired LocatorSearch location search technology, deployed by financial institutions to help customers and members find the nearest, most appropriate and convenient location. This development, under non-disclosed financial terms, brings in-house a technology deployed by Cardtronics and Allpoint Network since 2006 to power both their Web-based and smartphone app “ATM locators.” Included in its LocatorSearch transaction, Cardtronics has acquired more than 400 contractual relationships with banks, credit unions and financial services channel partners, as well as LocatorSearch’s proprietary location search technology, capable of delivering results across Web, mobile Web, smartphone app, and automated customer service platforms. A common deployment of LocatorSearch services aggregates location information for brick-and-mortar branch locations, as well as all the surcharge-free ATMs (regardless of ownership or network) that a bank or credit union makes available to its customers and members.
eWise payments and online financial management solutions provider added Renasant Bank to its growing customer base in the U.S. market to provide Renasant customers access to Secure Vault Payments secure alternative payments. Secure Vault Payments (SVP) secure online payment network developed by NACHA and eWise online payment. SVP is the only online payment system designed specifically for the unique security and convenience requirements of online payments and ecommerce. SVP is ultimately a secure way to make payments or shop online by leveraging their current online banking accounts to make immediate payments without enrolling, registering or sharing any account information.
2Checkout.com (2CO) global ecommerce payments integrated its new advanced recurring billing features with WHMCS client management, billing and support. To further empower businesses utilizing subscription management to run their online businesses, 2Checkout also announced the introduction of “Pass-Through-Products” (PTP) to process recurring orders directly through any third party shopping cart software that supports this new feature. With the addition of recurring billing support from WHMCS, and the introduction of Pass-Through-Products, sellers may now dynamically create recurring products, services and sales. 2Checkout.com (2CO) is a worldwide leader in payment and ecommerce services and provides PCI compliant online credit card processing services as well as fraud protection, customer care, shopping cart solutions, data security services, conversion-driving payment methods, currencies and languages, and the online marketplace 2CO Shopping.
ChargeSmart payments technology provider is now offering an instant rebate for consumers paying their utility bills with a Discover card through the ChargeSmart Bill Payments website. With this program, all utility payments made via ChargeSmart using Discover cards will receive an instant rebate that will offset service fees, and will be added to any other applicable rewards programs that are associated with the card. ChargeSmart payments technology provider serves consumers through its ChargeSmart Bill Payments solution and businesses with its ChargeSmart Direct program.
The Credit Union 24 credit union-owned ATM and POS network Board of Directors has re-elected Mansel Guerry for an unprecedented fourth consecutive term as Chairman of the Board. Under his most recent term, Credit Union 24 has grown to become the nation’s largest credit union-owned POS network, as well as provide the nation’s largest surcharge-free ATM access available to financial institutions, and has developed robust EFT products and services to help credit unions navigate the many challenges they’ve been facing in recent years. Credit Union 24 also developed Debit Edge POS program to help credit unions protect their interchange income while facing the implementation of the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act.
FICO analytics and decision management technology made available its analytic solution designed to spur profitable growth in lenders’ bankcard portfolios. The FICO™ Bankcard Growth Solution is an integrated solution to help lenders improve decisions based on deeper analytic insight and accelerated learning across all stages of bankcard acquisitions and originations. Specifically, the FICO Bankcard Growth Solution links a lender’s prospecting and offer generation decisions, providing information on responses and new account performance metrics that help the issuer adjust strategies with unprecedented speed. The unique underlying technology is an Analytic Learning Hub, which enables banks to accelerate the feedback cycle and use that information to offer the right card products to the right consumers at the right times.
Square is now processing $4 million in mobile payments per day, a figure projected to double by October. Square passed the $3 million milestone in May, then reached $1 billion following the wildly successful round of funding. Usage amongst customers is distributed to iPad (21%), iPhone (45%), iPod (3%) and Android (31%) while Square has shipped more than 500,000 credit card readersover the past year, which are now available in Apple Stores, and is processing more than a million transactions per month.