i2c, Inc., a provider of payment processing and emerging commerce solutions, announced that it is continuing to experience strong worldwide sales momentum in Fiscal Year (FY) 2014, which ends June 30. i2c is also seeing substantial growth from its existing client base, as both prepaid platform transactions and total accounts supported are up more than 50% from a year ago. The i2c platform’s ability to monetize customer relationships and build loyalty is resonating with organizations in all regions of the globe. The diversity of specific program solutions being implemented is a result of the flexibility inherent in i2c’s next-generation processing platform. Programs implemented or in development include general purpose reloadable (GPR) programs in Japan, a mobile wallet companion card in South Africa, a digital gifting app in the United States, debit card programs in Latin America and various prepaid programs in China, Australasia and the Middle East. A full spectrum of prepaid programs, including GPR, payroll, incentives, gift, travel, loyalty and remittance solutions, have been rolled out by i2c during the fiscal year.
MasterCard announced its participation the Macquarie Extreme Services Conference in New York. Mastercard will also present at the JPMorgan Global Technology, Media & Telecom Conference in Boston. There will be a listen-only live webcast of each discussion and replays will be archived for 7 days on the investor relations section of www.mastercard.com .
Capital One’s (COF) international credit card business profits have been weak over the past year, falling by 1.5% from first quarter 2013 and 1.1% since the fourth quarter of last year. However, the net revenue margin for international cards has increased by 37 basis points since the first quarter of 2013.
Today Target Corp. announced the company has hired a new technology leader to help guide the company’s information technology transformation. Target also provided details on additional security enhancements the company has made following its 2013 data breach, and shared plans to incorporate MasterCard chip-and-PIN technology across its REDcard portfolio.
VeriFone Systems, Inc. and First Data Corporation announced today the launch of the VeriFone edition of the First Data® TransArmor™ solution for U.S. multi-lane and petroleum merchants. The TransArmor, VeriFone edition, is an end-to-end encryption and tokenization solution that is a result of a partnership between VeriFone and First Data to address retailers’ need for enhanced payment security.
Discover and American Express retain the overwhelming lead for return on assets (ROA) among the nation’s top credit card portfolios, according to CardData. During the first quarter, the American Express ROA rose more than 10 basis points to 6.83%. The ROA for Chase, Citibank and Capital One hovered in the 4% to 5% range last year. For 2013, Discover posted a 6.8% ROA and American Express a 6.7% ROA. Discover will be releasing its first quarter report next week. Capital One’s U.S. ROA for 2013 was 4.4%. The Chase U.S. ROA was 4.3%. Citibank’s U.S. ROA was 3.9%.
Fiserv, Inc. today announced that U.S. Bank has enhanced its existing person-to-person (P2P) payment service with an Instant Payment option, as well as the ability to request money and send personalized digital greeting cards along with payments. These new features are available via U.S. Bank online and mobile banking, giving U.S. Bank customers more ways to send, request or receive money using another person’s name and account number, email address or mobile phone number. U.S. Bank is the first large bank in the country to offer real-time P2P payments online and through mobile devices using the Popmoney(R) Instant Payments feature.
MoneyGram is teaming up with PicomoPay to allow its consumers in the U.S. to send money transfers via PicomoPay’s Facebook application to more than 336,000 MoneyGram agent locations in more than 200 countries. The social media service will be available to consumers in May. PicomoPay is a social and mobile payments platform integrated within Facebook. Its primary business is to allow consumers to conduct person-to-person payments funded by their PicomoPay Digital Wallet, and to buy and send virtual gift cards on Facebook.
EyeVerify, San Jose, California, Finovate start-up and TSWG (The System Works Group) from Brisbane, Australia announces that TSWG NetTeller Mobile Money will integrate with EyeVerify’s Eyeprint Verification across iOS and Android devices.
TSWG is a leading provider of secure and agile digital banking technology, and will integrate the patented Eyeprint Verification technology; which is available only from EyeVerify and provides a highly accurate, user friendly biometric authentication stack.
Payments volume for Diners Club International declined 2% year-on-year and 4% sequentially in the first quarter. After peaking at $7.2 billion in Q4/2012, the international card issued by Discover Financial Services, has experienced a softening in quarterly purchase volume by 9%. Acquired by Discover Financial Services in July 2008, the international payment card has consistently hovered between $6.5 billion and $7.0 billion in quarterly payments volume.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa announced financial results for the Company’s fiscal second quarter 2014. Net income for the quarter was $1.6 billion, an increase of 26% over the prior year, or $2.52 per share, an increase of 31% over the prior year. These results include a tax benefit of $218 million of which $201…
WEX Inc. today announced that WEX Europe Limited has entered into an international agreement with Conferma, an expert provider of Virtual Card Number (VCN) technology for corporate travel and expense. The agreement builds on the virtual card technology and expertise of WEX Europe and will provide Conferma and its clients with business benefits internationally, building on WEX’s strengths in Virtual Credit, Debit and Prepaid payment solutions. The relationship brings a unique prepaid virtual product into Conferma’s suite of payment options for the first time, enabling Conferma’s partners to optimize payments by selecting the payment method that is most appropriate for each transaction type.