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.

Major V/M Q1 Outstandings

First quarter End-of-Period (EOP) outstandings for the big four U.S. Visa and MasterCard credit card issuers declined 2.0% Year-on-Year (Y/Y) and 5.3% Quarter-on-Quarter (Q/Q). The sequential decline reflects the seasonality of the U.S. bank credit card business, but the Y/Y decline is noteworthy. All of the top issuers: Chase, Bank of America, Capital One and Citibank, posted Y/Y and Q/Q declines in Q1 EOP outstandings.

2Checkout Attracts $60Million

2Checkout announced today they have closed on the final tranche of a $60 million investment round, led by Chicago Growth Partners and Trident Capital with participation by management and strategic individuals. Having bootstrapped its way to profitable growth, 2Checkout has become one of the world’s leading e-commerce payment providers. 2Checkout, founded in 1999, serves more than 22,000 merchants worldwide. 2Checkout’s payment processing service is used by merchants to sell to every visitor to their website, regardless of the visitor’s country of origin.

IndiSoft and Bluefin Partner

IndiSoft and Bluefin Payment Systems have partnered to offer a fully integrated payment and security solution for IndiSoft clients. Through the integrated partnership, IndiSoft clients using the company’s RxOffice® platform will have access to Bluefin’s PayConex™ payment processing platform which includes tokenization and transparent redirect security features, as well as Bluefin’s PayConex™ point-to-point encryption (P2PE) solution.

USAePay Integrates Zuza POS

USAePay is proud to announce the integration of Zuza POS, a customizable point of sale solution, with the company’s secure payment gateway. Ensuring end-to-end security by integrating with the USAePay payment gateway, Zuza also takes pride in setting merchants apart from competitors with added features on their POS software. Along with white-label options, Zuza offers loyalty programs, an informative backend filled with tutorials, and award-winning customer support.

AllianceData Signs UK’s Largest Home Shopping Retailer

Alliance Data Systems Corporation today announced its Retail Services business, which manages more than 130 private label and co-brand credit programs, has signed a multi-year agreement to provide private label credit card services in the U.S. for three brands of JD Williams (, the U.K’s largest multi-channel home shopping retailer. The brands include women’s apparel brands Marisota (, Simply Be ( and men’s apparel brand Jacamo (

PAAY Partners with USAePay

PAAY and USAePAY today announce a partnership to deliver a safe, fast, and simple online payment service to hundreds of thousands of merchants. PAAY will streamline merchants’ online transactions, allowing consumers to use the wallet to bypass the often lengthy online checkout process. Consumers simply enter their number into the PAAY widget at checkout and the transaction is pushed to their phone where they will review the order and accept by inputting their personal pin.

Net Element Raises Capital

Net Element, Inc. is pleased to announce that the Company completed the first closing of $11.2 million from a new investor, Cayman Invest, SA (“Cayman Invest”). Cayman Invest has agreed to fund $11.2 million and in return the Company has issued to Cayman Invest, SA a note that is convertible at or before a maturity date of March 31, 2015 into 15% of the outstanding shares of Net Element. This investment by Cayman Invest is structured as a convertible debenture that does not accrue interest before the maturity date. The $11.2 million raise is part of a larger financing round totaling $30 million that the Company plans to complete this year.

Discover Posts Net Income Down $40 Million Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Discover reported net income of $631 million for 1Q/14, as compared to $673 million in 1Q/13. The company’s return on equity for the first quarter of 2014 was 23%. Revenue net of interest expense was up $86 million, or 4%, from the prior year to $2.1 billion. Total loans grew $3.5…