MasterCard Incorporated posted 1Q/12 net income up 21% from the year ago figure to $682 million while net revenue was up 17% to $1.8 billion. This was thanks to an increase in cross-border volumes of 18%; an 18% increase in gross dollar volume on a local currency basis to $849 billion; and an increase in…
Consumer confidence was flat in April as more people saw their personal finances improving in correspondence with higher gas prices. These findings, according to the Discover U.S. Spending Monitor, concludes 39% rated their personal finances as good or excellent, a 3-point increase from the month before, while over 50% said high gas prices are forcing…
First Data posted a 1Q/12 consolidated revenue of $2.6 billion, up $20 million by 1% from the year ago figure, while djusted revenue was up $78 million by 5% year-over-year to $1.6 billion. For the first quarter, the net loss attributable to First Data was $153 million, compared to a loss of $217 million a…
USA Technologies cashless payment and M2M telemetry solutions appointed Albin F. Moschner to its board of directors, making him the ninth member of the USA Technologies board. Moschner comes to USA Technologies most recently as chief operating officer of Leap Wireless International, responsible for all operating activities of the company. He grew this company’s customer count from 1.5 million to 5.5 million. Prior to this, he was president, Verizon Card Services for Verizon Communications, where he managed the company’s prepaid card business- growing it over $100 million- as its credit card business”a $4 billion portfolio. Moschner holds a Bachelor of Engineering degree from the City College of New York, as well as a Master of Science degree from Syracuse University.
PayAnywhere mobile POS solutions added two payments industry professionals to its leadership team, including Carl Williams and Ed Myers, as managing directors, advising the company on new acquisitions, partner development, domestic and international market expansion. Carl Williams’ career in financial services spans 30 years and includes his role as president of worldwide payment processing at Global Payments (GPN). Ed Myers also brings more than 30 years of financial services experience to PayAnywhere, most recently serving as president of U.S. operations at Global Payments.
Jack Henry & Associates’ Jack Henry Banking(TM) division announced Peach State Bank & Trust has selected its “SilverLake” core processing system to provide enterprise-wide automation. This Georgia-based bank, which has more than $146 million in assets, will implement SilverLake through Jack Henry Banking’s outsourced offering.
Fiserv financial services technology solutions partnered Earthport cross-border payments services to provide a solution for international payments processed through the automated clearing house (ACH). This partnership will enable Fiserv clients to seamlessly process low value, cross-border payments through “PEP+” online, real-time solution for originating and receiving ACH payments. This will allow Fiserv clients that process low value, cross-border payments to improve efficiency, enhance customer satisfaction, lower costs to serve customers and increase growth and reach by creating one solution for both domestic and international cross-border payments processing.
Numbers released by the Federal Reserve show debit card swipe fees collected by the nation’s largest banks have dropped an average of 24 cents in 4Q/11 since reform regulations took effect last fall. The National Retail Federation, however, expressed disappointment that the fees did not fall further. Swipe fees having fallen from an average 43 cents in 2009, NRF and other merchant groups filed a lawsuit against the Fed in federal court in November arguing that the agency set the cap nearly twice as high as what was allowed under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Under Dodd-Frank guidelines, the Fed initially determined that it costs banks an average 4 cents to process a debit transaction, and proposed that the fees be capped at between 7 and 12 cents per transaction. After intense lobbying by banks and the card industry, however, final regulations adopted in July 2011 set the cap at more than five times the actual cost – 21 cents plus 0.05 percent of the transaction and, in most cases, an additional 1 cent for fraud prevention.
4Creative is excited to announce their revised and massively enhanced mobile application GoDutch™. GoDutch is a free mobile event publishing application that gives consumers the ability to publish events and happenings to their friends and community through the touch of a few buttons on an iPhone or Android Phone. GoDutch™ provides instant massive publishing power…
Wright Express Corporation, a leading provider of value-based business payment processing and information management solutions, today reported financial results for the three months ended March 31, 2012. First Quarter Financial Results Total revenue for the first quarter of 2012 increased 17% to $140.1 million from $120.1 million for the first quarter of 2011. Net income…
Catbird®, a Gartner Cool Vendor in Infrastructure Protection, today announced that Catbird vSecurity® protection and continuous compliance supports automated security for static and dynamically provisioned virtual desktops. This integration gives Catbird vSecurity customers best-in-class network security at a greatly reduced cost. Catbird vSecurity enforces virtual desktop segmentation, auditing, and control. Catbird vSecurity includes Catbird vCompliance™…
CO-OP Financial Services is partnering with Diebold, Incorporated, to provide greater personalized service and convenience to credit union members by testing two-way video member service on CO-OP Network at Diebold automated teller machines (ATMs). “As ATMs continue to provide more capabilities to the user, two-way video support is the next step in ensuring the member…