Early stage delinquency (30+ days) edged down by 11 basis points (bps) sequentially down 10 bps year-on-year (YOY), on average, among the nation’s top six U.S. credit card issuers. Every one of the top six realized lower delinquency in the second quarter, compared to the prior quarter, according to CardData.
Driven by Visa’s electric performance in the second quarter with net income rising 24.8%, payment card profits for the top four networks rose 10.7% in the second quarter, compared to one-year ago. Visa, MasterCard, American Express and Discover reported a combined 2Q/15 profit of $4103 million, compared to $3705 million for 2Q/14.
Gzhou-based Alibaba reported second quarter GMV grew to US$109 billion, a year-on-year increase of US$28 billion or 34.6% year-on-year (YOY).
Mobile GMV reached US$60 billion, an increase of 125% year-over-year, and accounted for 55% of total GMV transacted in its China retail marketplaces.
Cubic Transportation Systems has been awarded the Tunnel Outstation Maintenance Services (TOMS) contract by Transport for London (TfL). The contract, delivering maintenance of critical Intelligent Transportation Systems (ITS) infrastructure within TfL’s 12 road tunnels and the associated 90 kilometers of road corridors, extends Cubic’s successful history in delivering this service for the next 10 years.
Moldova’s Moldindconbank has implemented OpenWay’s have WAY4 Cash By Code technology. The new ATM service allows bank customers to use an ATM to transfer funds from their card accounts to another individual who needs no card to receive the transferred cash at another ATM.
San Diego-based iWallet has inked a deal with NEXT Biometrics to incorporate NEXT Biometrics’ next generation, high-quality fingerprint imaging sensor modules into iWallet’s portfolio of products, which feature its patented BIO-BLU Biometric Bluetooth® smart locking technology.
MN-based Entrust Datacard unveiled the Datacard Artista VHD Retransfer Color Printing module GEN 2. Designed to work inline with the Datacard MX Series card issuance systems, this second generation inline printer module offers on-demand, 600 dpi full-color, edge-to-edge card printing for card and credential programs in the financial, government, retail, loyalty, and healthcare markets.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Sudheer Prem, Chief Technology Officer of ID Insight.
Prepaid specialist CashStar and Maritz Motivation Solutions have inked a strategic partnership to power Maritz Motivation Solutions’ digital gift card offerings. The CashStar Commerce platform now enables Maritz Motivation Solutions to offer personalized digital gift cards from leading retailers and restaurants to its program participants as a reward option.
CardWeb.com’s CardData database of Company Profiles today features First American Payment Systems.
NY-based PaidEasy announced a seed round of funding valued at $2 million from a private investor, Ivor Ichikowitz. PaidEasy just launched out of beta this week and plans to use the money to establish a footprint in New York City and its surrounding areas.
CardWeb.com’s CardPixes database of more than 7,000 images today features the J.G. Wentworth Cash Now Visa.