American Express (AmEx) third quarter profits slipped year-on-year (YOY) by 10.7% to $794 million. AmEx says revenue and billed business levels were suppressed by a stronger U.S. dollar, plus renewals and changes it made earlier this year to some co-brand relationships also entailed some significant incremental expenses in Q3.
Capital One (COF) is beta testing a super cool app enabling cardholders to set a personalized spend cap to manage what they borrow on their card. Capital One Inform also tracks and visualizes what the cardholder spent.
Chinese tourists are flocking to the Czech Republic and the transaction volume of UnionPay cards in the Czech Republic has achieved a year-on-year growth of over 100% in the first three quarters of this year. Over 90% of duty-free shops at Prague Airport, the biggest international airport in the Czech Republic, accept UnionPay cards.
Until now, SEQR customers have been able to use their phones to make payments in stores where SEQR have an integration to the merchants’ cash register. SEQR customers will be able to shop with SEQR in any store that has NFC enabled card terminals, whether or not a merchant has a direct agreement with SEQR.
Verifone Engage has become the next generation family of payment devices that globally redefines what’s expected of point-of-sale (POS) hardware and software. Verifone Engage is the company’s first-ever, fully-integrated, Linux-based product family, encompassing a complete range of payment solutions for merchants, acquirers, and service providers.
NCR Power Picking has hit the market,a new store-based order fulfillment software that expands the omni-commerce portfolio of solutions and enhances the “order online, pick up in store” or “click-and-collect” experience.
FL-based MagicPay Merchant Services has launched a multiple currency credit card processing service. Prices for MagicPay’s new service begin at less than $20 per month plus discount rates and transaction fees, allowing even businesses that do a small volume of transactions to afford to process credit cards for foreign customers.
Elan Financial Services launches a new credit card partnership with People’s United Bank. The deal provides a full suite of MasterCard-branded products with valuable reward options to the bank’s customers as well as access to enhanced payment technologies, such as digital wallets and real-time activity alerts.
SwaziBank has launched the MasterCard Festive Campaign in Swaziland to reward the banks customers for purchases made on weekends only during the months of October to December 2015, when they use their MasterCard debit card for purchases at selected malls.
Start-up PaySwag, the first white-labeled mobile app to bring a new approach to collections for underbanked consumers, businesses and governments, is making its pitch at Money20/20’s Las Vegas inaugural StartupPitch180 competition.
MA-based Virtusa has released vToken, a solution accelerator. The solution was developed for enterprises, issuing banks and issuer processors that are considering providing Token Service Provider (TSP) functionality and building in-house EMVCo based tokenization system.
In today’s CardFlash News Que: PAYITSIMPLE (Splitit); TIMETRIC (Germany); GOODE (Biometrics); and NXT-ID (Fatone).