Visa’s (VS) AP Gross Dollar Volume (GDV) was up 9.3%, on a local currency basis, to U.S. $487 billion in Q2/14, compared to US$481 billion in Q1/14 and US$456 billion in Q2/13. VS has an estimated 740 million cards-in-force (CIF) currently in the AP region, compared to 692 million in Q2/13.
Visa’s Canadian region slows down with the overall global economy, gaining less than 8% year-on-year. Visa’s Canadian Cash Dollar Volume (CDV) decreased 1.5%, on a local currency basis in Q2/14 to US$5 billion. However, Visa now has a record 44 million cards-in-force (CIF) currently in the Canadian region.
Mobile social behavior is certainly no longer niche, and if Facebook’s success hasn’t already driven marketers to better understand the mobile social user, they should take note now. A new report shows time spent on social applications via smartphone is also significant for consumers who engage with brands on their mobile device.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] In today’s age of increased use of credit cards for global eCommerce transactions, merchants are choosing to expand their accepted methods of payment not only in domestic regions, but abroad, as well. Merchants wanting to sell internationally are subject to high levels of fraud, high fees and misguided information, but this…
Square commits to EMV for 2015 and launches a dedicated EMV destination. The CA firm is also going to release a Square Reader for EMV chip cards.
The first Bitcoin ATM “Bitcoin Bodega” opens on the Las Vegas strip by Coin Cloud. The Bitcoin Bodega highlights a recent trend in bitcoin tourism, providing digital currency enthusiasts with a quick, easy and safe means to buy or sell bitcoin. Coin Cloud provides consumers convenient access to bitcoin, allowing customers to store money on the blockchain and access it with ease.
American Express posts a 9% year-on-year growth in the second quarter cardholder volume, but profits rise in the U.S. by only 4% due to higher marketing and promotion costs along with rising cardholder rewards expenses. Overall, AmEx net income rose 9% to $1.529 billion, compared to $1.405 billion one-year ago.
The bank credit card business is back, now humming on all cylinders after going through a terrible 2009 and 2010 with massive losses. Chase Card Services, the biggest U.S. player, posted Q2 net revenue as a percentage of average loans of 12.15%, compared with 12.59% in the prior year and 12.22% in the prior quarter.
American Express Global Business Travel (“GBT”) today announced new servicing and technology tools and platforms that foster stronger connections and enable smarter communications with travelers and travel managers. Central to these solutions is GBT’s focus on interacting with business travelers when and how they want to be reached, and ensuring a seamless experience from trip planning and booking to traveler care in the case of a disruption. The solutions announced today include the launch of First from American Express Global Business Travel and major enhancements to GBT’s existing A X CONNECT product and TripCase integration. Firstfrom American Express Global Business Travel is a new solution for road warriors and executive travelers that provides them the end-to-end experience they deserve – from personalized business trip planning, to continuous monitoring and anticipation of traveler needs, to proactive care while on the road.
The bedrock of First is the elite team of expert travel counselors and the next-generation technology behind them. These travel experts go above and beyond simply selecting the right airline seat or meal preference. They are virtually alongside the traveler, 24/7. First travel counselors are empowered to advocate and immediately resolve issues on the traveler’s behalf, utilizing strong supplier relationships and the latest travel disruption notification technology to help ensure a comfortable, productive, and safe trip. They are committed to finding solutions that remove travel obstacles and ensure a traveler can maximize productivity while on the road.
A comprehensive report of 12,000 consumers and profiles of several campus prepaid cards including BlackboardPay, Fifth Third Mastercard Prepaid Campus Card, Heartland ECSI Acceluraid Prepaid Discover Card and U.S. Bank Contour Card all show prepaid is emerging big time on campus as opposed to easy credit cards.
ACI Worldwide announced that Ohio-based Franklin University has selected ACI to power its online payments. Franklin University wanted a proven payment provider with technology that required no additional programming to integrate with the University’s ERP system. It also wanted technology that provided a low total cost of ownership. ACI’s electronic payment solutions and integrated strategic partnerships with wide-ranging ERP providers made it the ideal payment partner for the University.ACI is a market leader in providing electronic payment solutions to colleges and universities with more than 300 higher education institutions in the United States and Puerto Rico utilizing its payment processing solutions.
Monitise inks a deal to move its production hosting and cloud requirements to IBM, including SoftLayer. The news comes admidst revenues from consumer-originated payments predicted to increase from $249 billion worldwide in 2012 to $460 billion in 20221, there are multiple opportunities for banks to capitalize on this growth via mobile money services.