U.S. bank credit card profits for the top U.S. Visa and MasterCard (V/M) issuers declined 3.5% year-on-year (Y/Y) and 5.4% quarter-on-quarter (Q/Q) in the first quarter (Q1). According to CardData, Q1 revenue dropped 12.1% Y/Y and 8.9% Q/Q.
The Conference Board Consumer Confidence Index was down to 82.3 in April from 83.9 in March. Meanwhile the Present Situation Index was also down to 78.3 from 82.5. These findings coincide with consumers took a less than favorable stance on the current business and labor market conditions. Meanwhile, those claiming business conditions are “good” dropped…
TSYS announced the appointment of Paul M. Todd as Senior Executive Vice President and Chief Financial Officer effective July 1, 2014. Paul Todd has served as executive vice president for strategy, mergers and acquisitions, product and marketing since 2008. Over the past four years, Todd directed TSYS’ diversification strategy that included four acquisitions in the direct merchant acquiring business and TSYS’ largest acquisition, NetSpend, which occurred last year. He has been the key driver in developing strategies to lead TSYS into new and faster growing sectors and markets. Prior to 2008, Todd was President and Chief Executive Officer of Synovus Financial Management, a unit of Synovus Financial Corp.
MyCheck collaborated with PayPal to enable consumers to pay at table through the PayPal app. The app itself enables users to select a restaurant from a list, check-in to the venue, and once there, view ordered items and prices on the mobile device, split the bill (if desired), add a tip, redeem an offer, accrue loyalty card stamps, quickly check out by hitting the pay button without waiting for a check, and receive an email receipt. The MyCheck capability has been operating in the UK version of the PayPal app for approximately nine months, where successful joint advertising campaigns with the Prezzo and Busaba Eathai restaurant chain drove significant adoption and usage of the app. Merchants benefit from offering the pay at table option in multiple ways, with faster turnarounds, fewer chargeback’s, the ability to spend time on customer service that would have otherwise been spent preparing checks, and developing more targeted marketing based on consumption.
Comexposium named the finalists for the first American SESAMES Awards. Based on the 19 year heritage of the SESAMES Awards held each year at the CARTES SECURE CONNEXIONS Exposition in France, recognize technology innovation for smart cards, digital security, identification, secure transactions and contactless technology developed for the U.S. market. The finalists include Emerging Payments, Oberthur Technologies for Omni-channel Wallet, ROAM for RP750x, Sequoia Retails Systems, Inc. for the QuadPoint Compact Register, Card Manufacturing, Oberthur Technologies for Lasink, SKIMPROT Ltd. for SkimProt, SmartDisplayer Technology Co., Ltd. for iCARD4, Identification, Brigham Scully Public Relations for Zwipe Biometric Card, DigitalPersona, Inc. for DigitalPersona Altus and GOTrust Technology Inc. for SDencrypter Lite.
The Electronic Funds Transfer Association in conjunction with the ATM Industry Association, has announced the release of a commissioned research report into the digital currency Bitcoin. The intensive report, written by Value Partners Management Consulting, authors of the industry’s bi-annual Global ATM Benchmarking studies, is called “Bitcoin: Virtual Currency with Real Opportunities”. ATMIA and EFTA are keen to develop industry positions on the current and future significance of Bitcoin. It presents a history and comprehensive international analysis of Bitcoin. Bitcoin digital currency allows people to send and receive payments within an entirely decentralized peer-to-peer network.
ChannelAdvisor Corporation (ECOM), a leading provider of cloud-based e-commerce solutions that enable retailers and manufacturers to increase global sales, announced its financial results for the quarter ended March 31, 2014. Total revenue of $19.3 million for the first quarter of 2014 increased 30 percent compared with total revenue of $14.9 million for the first quarter…
Mark Graf, executive vice president and chief financial officer of Discover, will present at the Barclays Capital Americas Select Franchise Conference in London. Presentation slides and a link to the live audio webcast will be posted on the day of the conference to Discover’s corporate website at http://investorrelations.discoverfinancial.com/.
EVERTEC announced it that will be presenting at the J.P. Morgan 42nd Annual Global Technology, Media and Telecom Conference to be held at The Westin Copley Place. EVERTEC full-service transaction processing business offers a broad range of merchant acquiring, payment processing and business solutions services. EVERTEC serves 19 countries in the region from its base in Puerto Rico and manages a system of electronic payment networks that process more than 2.1 billion transactions annually, and offers a comprehensive suite of services for core bank processing, cash processing and technology outsourcing.
Ukash has announced that Betfair has signed up to their popular service which enables customers to use cash to transact online with Betfair. Betfair customers who pass strict verification processes will be able to make cash deposits into their account through Ukash vouchers, which are available from over 50,000 sale points in the UK, with a reverse process being available to make cash withdrawals. The service is available on both desktop and mobile. Ukash enables players to spend cash securely online. Ukash codes are purchased with cash in retail outlets such as shops and petrol stations. The unique 19 digit codes can then be used to pay directly on thousands of websites that accept Ukash transactions worldwide.
MasterCard QkR payment app follows the recent successful pilot. The mobile payment app allows parents to pay for school meals, contribute to fundraising initiatives as well as purchase school uniforms and other items via their mobile device or tablet. The Qkr payment app promises to significantly decrease the administrative burden of cash transactions for schools, and give parents greater control of their spending. And by allowing parents to pay for these items remotely, primary school children are no longer having to carry significant sums of money to and from school – a growing headache for parents everywhere. This technology marks an important step forward for schools everywhere and that the project should act as a template for the kind of mutually-beneficial partnerships that schools can make with private enterprises.
Worldpay Group acquired Cobre Bem Tecnologia, giving its customers access to a wide range of payment products. Cobre Bem is a payment service provider that offers single point access to popular local payment methods in Latin America, including eight different credit/debit card types and more than 20 banks for direct online transfers, direct debit and Boleto Bancario. Cobre Bem will continue to operate its current business model, and the existing Cobre Bem management team will join the senior leadership of Worldpay’s eCommerce business unit.