In today’s CardFlash News Que: SYNCHRONY (FRB); PIVOTAL (Breeders); CSI (IOFM); and TECHNAVIO (india).
SYNCHRONY – Synchrony Financial has received approval from the Federal Reserve Board to become a standalone savings and loan holding company following the completion of General Electric Company’s proposed exchange offer. This approval represents a major step forward in Synchrony Financial becoming a fully independent company. The next step is for GE to announce the proposed exchange offer in which GE will offer its shares of Synchrony Financial common stock in exchange for shares of GE common stock.
PIVOTAL – Pivotal Payments, a provider of merchant services and global payment processing solutions, announces its second annual participation at the Breeders’ Cup World Championships being held at Keeneland Race Course in Lexington, Kentucky on October 30 to 31. The World Championships, billed as Thoroughbred racing’s most prestigious international event, regularly draws over 100,000 attendees. Pivotal Payments is the Official Credit Card Processor of the Breeders’ Cup, providing electronic payment processing solutions for all online and in-person ticketing and nomination fees.
CSI – CSI globalVCard, a provider of electronic payment solutions, will be sharing its expertise in accounts payable automation with attendees of the 2015 Accounts Payable and Procure-to-Pay Fall Conference & Expo (AP & P2P). Hosted by the Institute of Financial Management (IOFM), AP & P2P is recognized as the must-attend event for accounts payable professionals, bringing together AP experts and practitioners to provide relevant information on critical topics such as compliance, operational improvements and automation strategies.
TECHNAVIO – POS terminals are a combination of hardware and software, which allows users to accept card payments directly without updating the cash registers. The cost of installing a terminal vary with the size of the business unit and selling terms with the channel partners and suppliers. POS terminals are now combined with union pay, which had resulted in increased market growth and shipment in 2014. This can be attributed to growing payment services and usage of debit/credit cards for transactions. Technavio’s analysts forecast the revenue of the POS terminal market in India to grow at a CAGR of 23.30% in terms of revenue during 2014-2019.