Driven by MasterCard, payment card profits for the top four networks rose a mere 2.9% in the first quarter, compared to one-year ago. Visa, MasterCard, American Express and Discover reported a combined 1Q/15 profit of $4090 million, compared to $3975 million for 1Q/14.
American consumers are back in the buying mode after ratcheting up revolving credit by $4.3 billion or 5.9% year-on-year (YOY) in March. Total revolving credit for March preliminarily posted $889.4 billion, compared to a revised $885.1 billion for the prior month and $887.5 billion for January.
MasterCard’s (MC) Europe region Q1/15 Gross Dollar Volume (GDV) rose year-on-year (YOY) by 15.1%, and solid compared to Q1/14’s 14.7% YOY gain. The figure is more than twice the growth rate in the US and bests the global MC Q1/15 GDV gain of 12.1%.
International cryptocurrency and Bitcoin exchange platform 247exchange, managed by InterMoney Exchange, and its partner MoneyPolo payment system have devised a system of buying and selling Bitcoin instantly via money transfers.
Hong Kong-based Tranwall has extended its card control interfaces to the smart watch. Previously available for smart phones and legacy phones, the functionality is now also available on the Apple Watch and Android Wear platforms.
FICO says its FICO Score 9 for U.S. auto lenders and credit card issuers is now available. The new consumer score is also available to all three major U.S. credit reporting agencies.
Prepaid card king Green Dot reported Q1/15 of 43% year-on-year (YOY) to $227 million. The Company was negatively impacted by approximately $12 million resulting from fewer reload transactions. Greendot also shuffled its CFO.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Greg Baker, Lead Data Engineer at Bankrate’s Wallaby Financial.
Gemalto unveiled Coesys mGov, a new mobile strong digital authentication solution that enables citizens to access online government services using a combination of their contactless national eID card and NFC phone.
CardWeb.com’s CardData database of Company Profiles today features mobile iOS for enterprise-commerce specialist Infinite Peripherals.
CardWeb.com’s CardWatch database of more than 57,000 marketing items today features the Visa Debit “Super Freak” TV commercial.
U.S. Bank’s Elavon has promoted Wally Mlynarski to senior vice president of global product and innovation. Mlynarski previously served as vice president of Elavon’s “The Grove” global innovation center, which launched in 2013 to harvest customer-centered innovation in payments and establish key partnerships with third party innovators.