Chase bank credit card profits were down sharply in the second quarter due to a higher provision for credit losses, higher noninterest expense and lower net revenue. However, card purchase volume was up sharply by 12%, delinquency dropped 28 basis points and charge-offs declined 43 basis points. Card Services net revenue as a percentage of average loans was 12.15%, compared with 12.59% in the prior year and 12.22% in the prior quarter.
Visa has made a strategic investment in DocuSign to enable customers to prepare, execute and manage digital transactions and integrated payments safely and securely. DocuSign Global Standard for Digital Transaction Management™, automates manual, paper-based processes with the only open, independent, standards-based DTM platform for managing all aspects of documented business transactions. DocuSign helps companies Keep Business Digital™ with industry-leading identity management, authentication, eSignature, forms/data collection, collaboration, workflow automation, payment collection, and document retention. DocuSign accelerates transactions on a secure global network for sending, signing, tracking, and storing documents in the cloud.
Chuck Harris has been named senior executive vice president of TSYS and will continue to serve as president of NetSpend. Harris joined NetSpend as president in July, 2010, with responsibility for the partner, direct and corporate paycard lines of business, as well as the company’s products, technology and operations. Harris joined NetSpend from Intuit where he had served as general manager of the company’s payment solutions division. Prior to Intuit, he served as chief executive officer, president and chief operating officer of Electronic Clearing House (ECHO), an electronic payment solutions provider that was acquired by Intuit in 2007. Earlier in his career, Harris also served with Paymentech and its Merchant Link subsidiary.
South Africans will now benefit from a more seamless, speedy and secure online shopping checkout with the launch of the innovative MasterCard digital service, MasterPass™. MasterPass enables consumers to make convenient, simple, fast and secure digital payments. Digital wallets accessible through the MasterPass acceptance network allow consumers to store all their MasterCard or other branded credit, debit or cheque card information, and shipping and billing address details securely in one place. This gives them the ability to make secure online payments without the repeated hassle of entering these details each time.
First Data has attracted an industry leading team of partners that will collaborate to bring ease and convenience to the complex and growing legalized online and offline gambling and gaming market in the U.S. and abroad. PayLucky Solutions offer an innovative package of comprehensive payment services, all in one place and all from one source. Proven solutions include check, debit and credit processing with emphasis on protecting operators by qualifying players and guaranteeing player funds through third party validation and analysis on individual spending habits. The Global Interactive Gaming Summit and Expo (GiGse), First Data and its partners are poised to deliver the much-needed solutions to the gambling and gaming industry. First Data partnered CAMS (Central Account Management Systems), CrossPay Services, FEXCO, Global Cash Access, NRT Technology and Secure Trading Inc.
French LCL payments cards can now offer PIN codes via SMS thanks to Gemalto. Gemalto’s solution for LCL is built on Gemalto’s Netsize platform, operating seamlessly with direct connections to more than 160 mobile operators globally. This new Allynis eService offer is part of Gemalto’s broader range of digital services associated with payment card issuance.
First Data Corporation today announced the commercial integration of its Perka™ Mobile Loyalty Solution. Its apps are now available through First Data distribution systems. Extending far beyond traditional couponing, newspaper and yellow page ads, or old-fashioned paper loyalty cards, Perka, the most recent offering from First Data Small Business Solutions, is a cloud-based customer loyalty solution that connects businesses to their customers using location-based apps and mobile phones. Acquired by First Data last October, Perka, now a wholly-owned subsidiary, was named one of 2013’s most innovative companies by Fast Company. It helps SMB owners maintain profitable and long-term relationships with their customers by providing a sustainable and highly personalized incentive program.
Chase Sapphire Preferred travel rewards card and Bravo Media announce public ticket sales for the “Top Chef Duels” Premiere Tasting Event being held in New York City on Monday, August 4. Fans will be able to purchase a limited number of tickets for this exclusive event for $100 per ticket beginning Monday, July 14 at 2 p.m.ET through the City Harvest website at www.cityharvest.org/events/topchefduels. All proceeds from public ticket sales will benefit City Harvest, the world’s first food rescue organization dedicated to helping feed the more than two million New Yorkers facing hunger each year. The Premiere Tasting Event celebrates the series premiere of “Top Chef Duels” on Wednesday, August 6 at 10pm ET/PT on Bravo. As part of the presenting partnership, Chase Sapphire offers cardmembers VIP tickets to the event on the Ultimate RewardsSM website. The unique VIP experience includes early entrance, an exclusive screening of a clip of Episode One and a meet-and-greet with “Top Chef Duels” judges and contestants.
J/Speedy cards and merchant acceptance set to go full steam in 2015. The new JCBI technology integrates NFC and EMV. J/Speedy can be issued for a wide variety of devices, including mobile and wearable devices, for a whole new range of JCB brand contactless payment possibilities.
Transaction Network Services (TNS) will deploy wireless ATMs for Malaysian Electronic Payment System Sdn Bhd (MEPS). MEPS launched Malaysia’s first non-bank ATM late last year and has ambitious growth plans to roll out the technology across the country, which will see 500 ATMs live by the end of this year and continuous steady growth year on year to 1,580 by 2018 as MEPS rolls out nationwide coverage. TNS will provide its TNSLink solution to handle secure, high-speed transaction transport and ATM communications utilizing advanced encryption algorithms and a PCI DSS certified backbone network.MEPS ATMs support the Malaysian government’s Economic Transformation Programme and Bank Negara Malaysia’s e-Payment Agenda by offering more than just cash withdrawals and balance enquiries. Customers can complete real-time interbank transfers, as well as make credit card and loan repayments.