FleetCor on Fire – Q1 Profits Solid & Major B2B Acquisition in the Wings

GA-based FleetCor Technologies (FLT), a major provider of fuel cards and workforce payment products to businesses, reported first quarter (1Q/17) profits jumped 11.3% year-on-year (YOY) as domestic and international transactions also posted double-digit YOY gains in 1Q/17, according to CardData. FleetCor says its fundamentals were strong, organic revenue growth was approximately 10% in the quarter,…

Verifone Nails a Major Ukraine Payment-as-a-Service POS Deal

PrivatBank, the largest acquirer in Ukraine, has selected Verifone as its payment solution and service provider. As part of a three-year deal, Verifone will set up and manage PrivatBank merchants with point-of-sale (POS) solutions giving PrivatBank the freedom to focus on their more than 120,000 merchant clients of all sizes and verticals with financial services.…

Mastercard on a Roll in Combining Financial Inclusion with Digital Payments

With more than two billion people still excluded from the mainstream of financial services, Mastercard is at the forefront, stepping up its efforts to increase financial access for citizens around the world by developing innovative payment solutions that enhance the adoption of cashless transactions and by stitching together strong public and private alliances that accelerate…

Egypt’s Bee Mobile Wallet Integrates with the Mastercard Payments Ecosystem

Mastercard is adding Bee, the smart payment solutions provider in Egypt, as a key player to its interoperable mobile ecosystem. Bee is now fully integrated on Mastercard ecosystem to expand mobile wallets payments options. The relationship with Bee offers complete integrated solutions that allows mobile wallet users to pay directly through the application and avail…

WEX Q1 Numbers are Astounding as U.S. Fleet Cards Take-Off

ME-based fuel card kingpin, WEX, reported first quarter (1Q/17) total revenue soared 41.5% year-on-year (YOY), and net income rose 25.4% YOY in 1Q/17. WEX says return on 2016 investments is paying-off handsomely, according to CardData. Total revenue was $291.4 million for 1Q/17, compared to $290.8 million in 4Q/16, and $205.9 million for 1Q/16. Net income…

PayPal Stays Hot Despite Q1 Seasonal TPV – Margins Slide Again

PayPal continues to gain market share as total payment volume (TPV) and total payment transactions (PTX) soared 22% year-on-year (YOY) in the first quarter (1Q/17). However, the transaction margin continues to slide for the fifth consecutive quarter, down 370 basis points (bps) YOY and down 100 bps from 4Q/16, according to CardData. PayPal crossed the…

Discover Card Q1 Profits Slip w/Rising Charge-Offs – Yields Solid

Discover’s (DFS) credit card portfolio stayed in positive territory in the first quarter (1Q/17), while profits decreased reflecting a rising charge-offs. Discover’s total revenue rose 2.4% YOY to $2278 million for 1Q/17, compared to $2358 million in the prior quarter and $2224 million for the year ago quarter. For 2016, DFS averaged $2275 million per…

TSYS Posts Decent Q1 Profit While Trimming Jobs and Diversifying

GA-based acquirer TSYS reported a solid first quarter (1Q/17) as total revenues hit $1185 million, a jump of 60.4% year-on-year (YOY). Net income increased 16.9% YOY from $90.6 million in 1Q/16 to $105.9 million in 1Q/17, according to CardData. The Company says the strategy of diversification has been paying-off for the first quarter. TSYS also…

Customer Engagement – Mobilizing Your Business Set for Late August

The Mobile Payments Conference (MPC), slated for August, is more than mobile payments, it is an invitation into a growing elite group of professionals who are holding a conversation that never ends. The conference is the pivotal intersection between end users, operations, marketing, finance and technology where it will be discussed and answer many questions.…