American Express has qualified Galitt KaNest-ICC test tool as conforming to its AEIPS 6.0 specification. AmEx is now including Galitt KaNest-ICC AEIPS TTS 2.00.00 test tool in its Approved Product List for the AEIPS 6.0 specification.
In today’s CardFlash News Que: WESTERN UNION (USB); CUBIC (awards); SHIFT4 (employees); and SYSTEMS EAST (Dinerware).
MasterCard (MC) first quarter profits rose 17.2% year-on-year (YOY) or 24.0% on a currency adjusted basis (FX) to a record $1020 million. Global purchase volume rose 12% (FX) to $783 billion and end-of-period (EOP) global cards-in-force (CIF) hit 2.2 billion.
GA-based acquirer TSYS reported a solid first quarter as total revenues for hit $662.2 million, an increase of 11.7% over the prior year.Income from continuing operations was $77.8 million, a whopping year-on-year (YOY) increase of 57.7%.
The average charge-off ratio among the nation’s four largest issuers increased 12 basis points (bps) quarter-to-quarter (QOQ) to 3.09% in the first quarter (Q1/15). The top 100 U.S. banks posted a 10 bps increase QOQ to 3.07%, according to CardData.
Purchase Dollar Volume (PDV) for Visa, MasterCard, Discover and American Express U.S. credit cards is expected to reach $4.2 trillion annually by year-end 2019. According to forecaster RAM Research, the U.S. PDV for the U.S. credit card industry is growing at a CAGR of 9.99%.
MasterCard is gobbling up a top cloud-based analytics provider for $600 million. The acquisition of Applied Predictive Technologies (APT) follows the recent acquisition of 5One, a London-based retail consulting and analytics firm.
A NH-based t-shirt manufacturing company has signed-up to accept credit cards and multiple cryptocurrencies. The Mountain, with $40 million to $50 million in annual sales, will now accept credit cards and multiple cryptocurrencies.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Jennifer Miles, President, Verifone Americas.
A portfolio of 15 U.S. granted patents and 9 applications, disclosing a comprehensive set of systems for improving and securing the existing payment card system is going up for sale. It contains the work of inventor Moon J. Kim, a former IBM Master Inventor and named inventor on over 120 patents.
PA-based USA Technologies (USAT) has inked a multi-year agreement strategic deal with Chase Commerce Solutions (CCS). The agreement will give USAT a bigger reach for products and services domestically as well as outside the U.S and CCS will gain access to a new customer base via the unattended self-service retail market space.
CardWeb.com’s CardData database of Company Profiles today features Vormittag Associates, Inc (VAI), a specialist in ERP software.