MasterCard continues to outpace Visa in the second quarter as profits near $1 billion. In the U.S., gross dollar volume (GDV) rose 9.2% to $339 billion, compared to $319 billion in the prior quarter, and $310 billion in the year ago quarter. At the end of the second quarter MasterCard had 344 million cards-in-force in the among 308 million accounts.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] ACI Worldwide announced 2Q/14 revenue of $255 million, up $47 million by 23% from the year ago figure while organic revenue was up 4%. Meanwhile, the 12-month backlog increased by $2 million from last quarter to $885 million, while our 60-month backlog increased by $14 million from last quarter to $3.92…
Preferred Rewards is now available for clients in California, Oregon, Arizona and Idaho. Clients with a Bank of America personal checking account and a three-month average combined balance of $20,000 or more across their checking, savings and/or Merrill Edge® investment accounts can enroll. And, as clients’ combined balances grow, so do their benefits and rewards. With a three-tier structure – Gold, Platinum and Platinum Honors – clients have additional opportunities to earn, save and get more back based on their tier. There is no fee to enroll in the Preferred Rewards program for qualified Bank of America clients. Onca clients. Clients’ three-month average balance will be reviewed monthly for the opportunity to achieve additional benefits.
PayByPhone announced its mobile parking payment app is available in the Amazon Appstore for Amazon’s new Fire phone, as well as Kindle Fire devices. PayByPhone’s parking meter stickers feature a passive electronic chip that stores information such as the meter number. Users simply wave or tap their NFC-enabled phones over the sticker on the meter to automatically launch the PayByPhone app. The mobile payment system recognizes the user and identifies the exact parking location. The PayByPhone app is the simple, secure, and convenient way to pay for your parking in cities such as Seattle, San Francisco, Miami, Vancouver, London, Paris and more. PayByPhone allows drivers to charge their parking to a credit card, eliminating the need for cash at the parking meter. Features such as text message reminders before time expires, and adding more parking time from the app (within the allowable restrictions) greatly reduce the chance of a parking violation.
Bill Me Later Is Now PayPal Credit, PayPal Working Capital Exceeds $150 Million and Both are Going Global – Gary Marino, SVP, Global Financial Services & North America. Since the pilot program launched last September, more than 20,000 businesses have collectively borrowed more than $150 million in PayPal Working Capital business loans through our lending partner, WebBank. The program is also expanding to the UK and Australia to fuel business growth. Businesses in these countries will have access to capital in minutes once they apply and are approved through a simple online interface. PayPal Working Capital allows these businesses to repay with a share of their sales they choose, and don’t repay on days they don’t have sales. Because the program uses a business’s sales history, there iis no credit check or extensive documentation required. The loan charges a single, affordable fixed fee instead of periodic interest so businesses know the cost of the loan up front. It’s that simple.
Evolving Credit Landscape
Offering these products more broadly is a sign of the power that credit brings to both merchants and consumers. Merchants can leverage credit as a tool to secure capital and grow their businesses. Additionally, they can offer credit with flexible payments options for their customers and immediate sales, while consumers experience freedom of choice when buying what they want – when they want it. We recognize this value isn’t limited to our US customers, so we are going global.
First Data Merchant Solutions up 2% in Q2/14 while Financial Services jumps 6% and the International segment gains 5%. During Q2/14 First Data introduced two new solutions for small to medium businesses (SMB), PerkaT and Insightics.
Heartland Payment Systems announced today that it has entered into an agreement to acquire TouchNet Information Systems, Inc., an integrated commerce solutions provider to higher-education institutions. TouchNet adds over 600 higher education clients serving over six million students – nearly one-third of the higher-education enrollment in the United States – to Heartland’s Campus Solutions business. Heartland Payment Systems, Inc., the fifth largest payments processor in the United States, delivers credit/debit/prepaid card processing, mobile commerce, e-commerce, marketing solutions, security technology, payroll solutions, and related business solutions and services to more than 275,000 business and educational locations nationwide.
Mobile social behavior is certainly no longer niche, and if Facebook’s success hasn’t already driven marketers to better understand the mobile social user, they should take note now. A new report shows time spent on social applications via smartphone is also significant for consumers who engage with brands on their mobile device.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] In today’s age of increased use of credit cards for global eCommerce transactions, merchants are choosing to expand their accepted methods of payment not only in domestic regions, but abroad, as well. Merchants wanting to sell internationally are subject to high levels of fraud, high fees and misguided information, but this…
Square commits to EMV for 2015 and launches a dedicated EMV destination. The CA firm is also going to release a Square Reader for EMV chip cards.
The first Bitcoin ATM “Bitcoin Bodega” opens on the Las Vegas strip by Coin Cloud. The Bitcoin Bodega highlights a recent trend in bitcoin tourism, providing digital currency enthusiasts with a quick, easy and safe means to buy or sell bitcoin. Coin Cloud provides consumers convenient access to bitcoin, allowing customers to store money on the blockchain and access it with ease.
ACI Worldwide announced that Ohio-based Franklin University has selected ACI to power its online payments. Franklin University wanted a proven payment provider with technology that required no additional programming to integrate with the University’s ERP system. It also wanted technology that provided a low total cost of ownership. ACI’s electronic payment solutions and integrated strategic partnerships with wide-ranging ERP providers made it the ideal payment partner for the University.ACI is a market leader in providing electronic payment solutions to colleges and universities with more than 300 higher education institutions in the United States and Puerto Rico utilizing its payment processing solutions.