Robert McKinley, Senior Analyst/Editor Robert McKinley is an analyst of the payments industry on a daily basis for 32 years covering payment cards and payment systems from both the business side and the consumer side. McKinley is the retired founder and chief executive of RAM Research, CardWeb and CardTrak. In his prior position, McKinley has participated in more than 10,000 documented news media interviews, testified as an expert witness in two separate $billion+ U.S. anti-trust trials, testified before the U.S. Congress, assisted the GAO with paymentsIMG_2006 (1).jpeg reports, chaired numerous business conferences and provided C-Suite opinion to a multitude of Fortune 500 companies. In retirement, he has continued developing and funding digital media assets as well as contributing payments related analysis/content to a broad list of online publishers, including CardFlash, CardTrak and CardData. McKinley is also a national certified mentor with the non-profit SCORE organization with a focus on assisting Fintech startups. www.robert-mckinley.com

SuperCom Acquires Data Security Firm Safend

SuperCom Acquires Data Security Firm Safend

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] SuperCom has acquired Safend, a global data security company with a broad range of competitive and well-known encryption and data protection solutions. The acquisition is in line with SuperCom’s stated strategy to offer complementary security products and solutions to its growing customer base. Safend is an international provider of cutting edge…

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Debt Collection Tops the FTC Complaint Report

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Debt collection, identity theft and imposter scams were the most common categories of consumer complaints received by the Federal Trade Commission’s Consumer Sentinel Network in 2015, according to the agency’s new data book. While debt collection complaints rose to the top spot among complaint categories, the report notes that this was…

X-Border Survey Finds Merchants Not Up to Snuff

X-Border Survey Finds Merchants Not Up to Snuff

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] New research shows cross-border commerce is still in its nascent stages and merchants remain unprepared to welcome international shoppers. Cross-border sales are expected to account for about 15% of total global e-commerce sales by 2018. According to the latest PYMNTS.com X-Border Index powered by Digital River, the average merchant scored 57…

Higher Card Rates and Fees Drive US Bank in 4Q/15

Higher Card Rates and Fees Drive US Bank in 4Q/15

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. Bank (USB) reports net interest income for Payment Services rose 10.4% year-on-year (YOY) in the fourth quarter (4Q/15) driven by improved loan rates and higher average loan balances and fees. Net income for Payment Services rose 7.2% YOY to $326 million for 4Q/15, compared to $320 million in the prior…

CFPB Fines Dwolla for Deceiving Consumers

CFPB Fines Dwolla for Deceiving Consumers

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Consumer Financial Protection Bureau has taken on online payment platform Dwolla for deceiving consumers about its data security practices and the safety of its online payment system. The CFPB ordered Dwolla to pay a $100,000 penalty and fix its security practices.  Des Moines-based Dwolla operates an online payment system. Since…

Visa 4Q/15 Profits Soar 24%; Global PDV Up 9% YOY

Visa 4Q/15 Profits Soar 24%; Global PDV Up 9% YOY

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa’s fourth quarter net income jumped 24% year-on-year (YOY) to $1.9 billion. Excluding the Visa Europe put option, 4Q/15 profits rose 7% to $1.7 billion. Global purchase volume rose 9.0% (FX) to $1.89 trillion and total processed transactions, which represent transactions processed by VisaNet, for the third quarter, were 19.0 billion,…

MasterCard Fourth Quarter Profits Rise 18% YOY FX

MasterCard Fourth Quarter Profits Rise 18% YOY FX

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MasterCard (MC) fourth quarter (4Q/15) profits rose 11.0% year-on-year (YOY), or up 18% on a currency adjusted basis (FX) to $977 million.  Cross-border volume rose 12% and gross dollar volume (GDV) rose 13%, on a local currency basis, to $1.2 trillion; and processed transactions increased 12% to 13.0 billion and end-of-period…

Nexonia and Abila Integrate Solutions for Nonprofits

Nexonia and Abila Integrate Solutions for Nonprofits

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Nexonia and Abila ink a new partnership and integration deal. Nexonia helps nonprofit organizations manage their payments. Nexonia will integrate with Abila’s fund accounting solutions. With this new partnership, Nexonia Expenses integrates seamlessly in both directions with Abila MIP Advance and Abila MIP Fund Accounting, providing nonprofit organizations with an all-encompassing…

AmEx 4Q/15 U.S. Card Profits Climb 20% YOY

AmEx 4Q/15 U.S. Card Profits Climb 20% YOY

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] American Express (AmEx) fourth quarter (4Q/15) profits rose year-on-year (YOY) by 20.0% to $799 million. U.S. credit card outstandings declined 18.0% YOY to $51.4 billion, compared to $62.1 billion in the prior quarter and $62.6 billion in year ago quarter.  U.S. credit card Purchase Dollar Volume (PDV) rose 5.0% YOY to…

Major Study Reveals Merchants Are Not Optimizing Sites

Major Study Reveals Merchants Are Not Optimizing Sites

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] A new study of 39,000 data points, across 657 sites and 14 merchant categories shows that merchants are not optimizing their sites for mobile checkout. BlueSnap and PYMNTS say merchants are leaving as much as $152 billion dollars on the table. That is the key finding from the latest Checkout Conversion…

Discover Fourth Quarter 4Q/14 Metrics Stable

Discover Fourth Quarter 4Q/14 Metrics Stable

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Discover’s credit card outstandings continued growth in the fourth quarter (4Q/15) rising 3.2% as Purchase Dollar Volume (PDV) rose 1.8%, year-on-year (YOY). While all other credit card metrics remained stable, overall net income for 4Q/15 soared 24.0% YOY to $500 million. Discover reported credit card end-of-period (EOP) outstandings rose 3.2% YOY…