Profits (after tax) among the nation’s top four bank credit card issuers declined 9.0% in the fourth quarter (Q4/14), compared to one year ago (Y/Y) and down 4.3% sequentially (Q-Q). However, after adjusting for abnormal loan loss provisions in Q4/13, profits were up an estimated 8.4% Y/Y.
Visa (VS) Canada’s Gross Dollar Volume (GDV) rose year-on-year (Y/Y) 8.0%, on a local currency basis, in the fourth quarter (Q4/14). Growth in the region has been picking up in the past three quarters and will likely remain so through 2015.
China UnionPay (CUP), Cathay United Bank (CUB) and other institutions are going full throttle to expand EMV card acceptance at ATMS throughout Taiwan. POS terminal upgrades to EMV will likely reach 80% of merchants by the end of this year.
The jury is still out on the implications of the PayPal Paydiant acquisition and how it could affect its relationship with the Merchant Customer Exchange (MCX) and its CurrentC Network. However, a credit union service organization sees itself a clear winner from the deal.
Africa’s largest remittance market is about to get bigger with the new partnership between eTranzact International and MasterCard. The deal has the potential to open up new remittance corridors, expand the scope of cashless money transfers, extend financial inclusion and support the growth of the economy in Nigeria.
The nation’s leading credit union service organization (CUSO), was honored as a finalist for the Stevie Award for Contact Center of the Year in the ninth annual Stevie Awards for Sales & Customer Service. PSCU claimed the bronze Stevie Award in the Financial Services Industries category for contact centers with over 100 seats.
Citibank inked a 10-year agreement to align its consumer proprietary credit and debit portfolios to the MasterCard network this year. However, Citi says it will continue to work with other networks, including on consumer co-brands and commercial cards.
Card payments acquirer, Merchants’ Choice Payment Solutions’ (MCPS) has buddied up with Powa Technologies to integrate platforms, providing a robust, fully integrated and secure tablet-based POS solution for retail and restaurant industries.
Florida remains the top state for per-capita fraud and identity theft complaints. The Panhandle State also accounted for nine of the top 20 metropolitan areas in per capita identity theft complaints.
TouchSuite has teamed with Frederick, to offer the company’s automated marketing platform as an integrated solution within its Firefly Salon point of sale system.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Carolyn Homberger, Group President, Customer Management & Maintenance of ACI Worldwide.
Boston-based Abine is launching a new beta service designed to help Bitcoin users more fully participate in online commerce. The invite-only beta will enable Bitcoin to Abine Masked Card purchases at any merchant.