CT-based CardFellow has inked payment processor Mercantile Processing as a certified-quote provider.
TX-based P97 Networks will integrate the P97 PetroZone Mobile Commerce Platform with SAP Vehicles Network running on SAP HANA Cloud Platform for the Internet of Things.
Chicago-based Arroweye Solutions has ankled Betty Mitchell as vice president of client engagement. She is responsible for leading a team of Arroweye client partners who implement, manage, and grow client programs.
In today’s CardFlash News Que: NAB (Poynt); BUZZ POINTS (INOVA);
MASTERCARD (Hemas); and MasterCard (Africa).
Again driven by Visa’s electric performance in the third quarter with net income rising 41%, payment card profits for the top four networks rose 7.2% in the third quarter, compared to one-year ago. Visa, MasterCard, American Express and Discover reported a combined 3Q/15 profit of $3883 million, compared to $3621 million for 3Q/14.
The average yield among the nations’s top six bank credit card issuers came in at 11.24% for the third quarter, compared to 11.27% for 3Q/14. Capital One (COF), the nation’s fastest growing major credit card issuer, again posted the highest yields, besting the average by 311 basis points (bps) in the third quarter, according to CardData.
MasterCard’s (MC) Asia Pacific – Middle East – Africa (APMEA) region Gross Dollar Volume (GDV) FX-adjusted inched down in the third quarter to a year-on-year (YOY) gain of 14.0%, compared to 15.2% in the prior quarter and 17.0% in the year ago quarter.
Visa’s profits are soaring and the deal to acquire Visa Europe looks like it will happen this week for US$22 billion. Third quarter net income jumped 41% year-on-year (YOY) to $1.5 billion.
Visa and Visa Europe have inked a definitive agreement for Visa to acquire Visa Europe, creating a single global company. The transaction consists of upfront consideration of €16.5 billion with the potential for an additional earn-out of up to €4.7 billion payable following the fourth anniversary of closing, for a total value of up to €21.2 billion.
Cubic Transportation Systems inked a $52 million, 5.5 year contract by the New Hampshire Department of Transportation (NHDOT) to deliver a new back office for the E-ZPass system supporting the state’s toll roads.
Dozens of U.S. cities had chargeback rates that exceeded the 1% threshold set by Visa and MasterCard. Within the Northeast region, there are 10 cities/ZIP codes with the highest chargeback statistics.
ShopSocially and FSAstore.com have teamed to launch its FSA rewards program. Powered by ShopSocially, the program aims at offering loyalty awards to customers not just for purchases, but for all-round engagement.