Target Project $148mm in Losses Thanks to Infamous Breach

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Target announced 2Q/14 expectations are projected to include gross expenses of $148 million, partially offset by a $38 million insurance receivable, related to the December 2013 data breach. The Company provided an estimate of costs related to its recently-completed early debt retirement and updated expectations for second-quarter Adjusted1 and GAAP earnings…

Global Payments signs referral agreement with BitPay

Global Payments payment solutions has signed a referral agreement with BitPay bitcoin digital currency. This allows Global Payments to incorporate the cryptocurrency into its product suite and to offer bitcoin payment acceptance to its worldwide merchants. The cross-border demands of global merchants all bitcoin acceptance to reach more customers in more markets, particularly in fledgling economies.

ADS & BJ’s

Big changes in the works for the BJ’s MasterCard as Alliance Data Systems takes the helm by the end of this year. The BJ’s card portfolio will transition to MasterCard and can be used anywhere MasterCard is accepted across the globe. In the spring of 2015, the entire BJ’s credit portfolio will be converted to chip-enabled MasterCard credit cards.

MasterCard to Power Event Platform

MasterCard and SFX Entertainment announced a multi-year global partnership to further strengthen MasterCard’s commitment to being an experiential brand in music and entertainment. MasterCard will simplify the way hundreds of millions of electronic dance music (EDM) fans worldwide can access SFX events, engage with content and connect with their community. Through its Priceless platform, MasterCard will also create surprise and delight experiences for fans, starting this fall. SFX will leverage MasterCard’s innovative technologies for its digital and physical platforms including ticketing, retail, live events and social networking, pioneering a new model for enterprise-wide partnerships. MasterCard becomes the exclusive financial services sponsor for all of SFX’s platforms.

U.S. Q2 GDV

MasterCard takes the lead in the second quarter for U.S. gross dollar volume with a 9.2% year-on-year gain, compared to Visa’s 9.1%, American Express’ 6.0% gain and Discover 6.0% gain. Based on U.S. GDV, VS and MC tied the four networks in Y/Y gains in market share for the U.S., gaining 10 basis points (bps) Y/Y. AX was flat Y/Y and DS decreased by 10 bps.

Diebold Appoints EVP, Software

Diebold announced Alan Kerr has been named executive vice president, software. An experienced software and field operations leader, Kerr will build the strategy for the company’s global software organization. With more than 25 years of senior-level experience, he has held senior leadership positions with several IT software and services leaders. An experienced change management leader, he successfully restructured the sales operations and helped deliver revenue in excess of $3 billion.

Sphonic Appoints go to Exec to Assume Reigns

Sphonic announced Tom Sullivan has joined the company launch their products into the “Americas” market. Tom Sullivan comes with a wealth of experience within the digital payments & fraud prevention industry, having spent the last twelve years at Expedia Inc. as Senior Director, Global Risk & Payments. In parrallel, Tom has been the Chairman of Merchant Risk Council, driving the organisation’s impressive growth over the last 10 years. Tom joins Sphonic Americas, to replicate Sphonic’s successes in Europe in providing innovative solutions for risk management and customer acceptance to a range of digital clients.