Bankrate has inked a deal to acquire the business of NextAdvisor, an online source of independent and in-depth research and reviews of credit cards, personal finance and internet services. The deal is expected to close this quarter. Bankrate says the acquisition provides proprietary intellectual property, technological capability, analytics, and optimization, particularly relating to the fast-growing…
Saks Fifth Avenue, Poshmark, and North American Bancard have all jumped on the MasterPass digital payments platform train. While Saks and Poshmark will offer MasterPass soon, NAB Velocity, the omnichannel payments platform from North American Bancard, will offer the digital payments platform to its customers starting later this year. MasterPass is a simple, convenient, trusted digital…
Shopgate merchants now have the capability to process customer payments on PayPal Plus, Beanstream, WorldPay, Payolution, and WireCard. With over 650 customers already in the U.S., Shopgate’s growth is driven by its mobile app innovations and technology partnerships The company already owns nearly 80% of the German mobile commerce market and thanks to an aggressive…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] WI-based Fiserv reported a huge year-on-year (YOY) jump in first quarter (1Q/16) net income thanks to an asset sale. Gross revenue posted a modest YOY gain driven by payments and industry products revenue. Fiserv posted gross revenue of $1331 million for the first quarter, a 4.4% YOY gain, compared to $1368…
SuiteRetail has rolled-out SuitePOS, natively supporting the standard for cloud CRM and business apps, Salesforce, to run storefronts and even a retailer’s entire business on a single platform. The SuitePOS for Salesforce solution empowers retailers to connect with and sell to customers in-store. Promotions, products and checkout processes are configured in Salesforce and can span…
In Other News: BANKRATE (acquisition); TIMETRIC (report); BLUEPOINT (client); and EATSTREET (app). BANKRATE – Bankrate has reached an agreement to acquire the business of NextAdvisor, an online source of independent and in-depth research and reviews of credit cards, personal finance and internet services. TIMETRIC – Timetric’s ‘The Cards and Payments Industry in Nigeria: Emerging Trends…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Wall Street ratings firms says stress in the U.S. energy sector should not materially impact the credit profiles of large consumer lenders with national footprints, says Fitch Ratings. Furthermore, the credit outlook for U.S. ABCP (Asset-Backed Commercial Paper) for the remainder of 2016 remains stable. Fitch Ratings says the recent evidence…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Square posted a stunning first quarter (1Q/16) with revenue up 50%+ year-on-year (YOY), gross payment volume (GPV) up more than 45% and Starbucks volume up more than 34%. Part of the growth is also driven by contactless (NFC) and chip reader (EMV) sales which have reached nearly half a million at…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] CA-based prepaid card specialist Green Dot reported flat revenues and a weak profit for the first quarter (1Q/16). However, 1Q/16 was the first quarterly sequential growth in active cards in a year. Additionally, gross dollar volume (GDV) was up year-on-year (YOY) and purchase dollar volume was steady YOY for 1Q/16. Gross…
A pair of brothers were crowdfunded on Kickstarter and now ready to bring their physical wallet solution to market. Trevor and Justin Johnston of Walnut Creek, CA, surpassed their crowdfunding goal of $20,000 raising more than $24,500 on Kickstarter. The new Wallet Buckle was seven years in development. With Wallet Buckle it’s all in the…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Western Union (WU) first quarter (1Q/16) GAAP revenues, on a currency adjusted basis (FX), declined 3.8% year-on-year (YOY), while GAAP net income slipped 8.9% YOY. WU consumer-to-consumer (C2C) GAAP revenues FX declined 4.8% YOY, while consumer-to-business (C2B) GAAP revenues FX declined 7.9% YOY WU reported total GAAP Revenues FX of $1355.1…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] GA-based FleetCor Technologies (FLT), a major provider of fuel cards and workforce payment products to businesses, reported first quarter (1Q/16) profits jumped 17% year-on-year (YOY) as domestic and international transactions also posted double-digit YOY gains in 1Q/16. FleetCor says its fundamentals were strong, organic revenue growth was approximately 9% in the…
