[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Synchrony Financial’s retail credit card business revenues posted a huge 14.7% year-on-year (YOY) gain for the first quarter (1Q/16) to $2.03 billion. During the quarter Synchrony renewed the Stein Mart and La-Z-Boy programs; signed a partnership with Marvel to offer Marvel MasterCard and co-promote Synchrony Bank’s deposit products; launched the Citgo…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] ME-based fuel card kingpin, WEX, reported first quarter (1Q/16) total revenue inched up 1.8% year-on-year (YOY), however net income rose 3.6% YOY in 1Q/16. Total revenue was $205.9 million for 1Q/16, compared to $212.6 million in 4Q/15, and $202.3 million for 1Q/15. WEX notes adjusting for constant currency (FX), fuel prices,…
In Other News: BLUEFIN (DSP); 3DCART (Vantiv); SYNCHRONY (Suzuki); and SHOPIFY (1Q). BLUEFIN -Bluefin Payment Systems will provide the Visa Data Secure Platform (DSP) through their Decryption as a Service P2PE Solution. 3DCART -Shopping cart software provider 3dcart has partnered with Vantiv, a provider of payment processing services and related technology solutions for merchants and…
Entrust Datacard confirms it has produced over 10.6 million EMV chip cards in the U.S. in the past 12 months utilizing the Company’s instant issuance solutions. Fraud is also a driving factor for increased instant EMV card issuance as more and more consumers need an emergency card replacement if their card information has been compromised.…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] PayPal continues to rock ’n roll as profits soared 43% year-on-year (YOY) in the first quarter (1Q/16) driven by total payment volume (TPV) up 29% YOY. However, the transaction margin declined 380 basis points (bps) in the quarter, compared to 1Q/15. Transaction revenues for 1Q/16 increased 17% YOY to $2.24 billion,…
Questions have been emerging from merchants and acquirers regarding the requirements for testing and certifying contact and contactless chip-enabled terminals. The EMV Migration Forum released a revised version of the white paper, “EMV Testing and Certification White Paper: Current Global Payment Network Requirements for the U.S. Acquiring Community,” to provide the most up-to-date requirements and…
After testing in its home market, Phoenix-based Bravo Tip or Pay will introduce the first and only patent-filed GPS Payment gateway next week. Bravo allows anyone, at any time, to pay or tip right from their smartphone in seconds. The mobile app has eliminated the need for swiping cards, paying for expensive terminals, or exchanging…
Twice as many agencies plan to adopt Virtual Debt Negotiation in 2016 – 17.8% in 2015 to 35.6% in 2016 – and there was a significant increase in the planned adoption of Interactive Voice Response (IVR) – rising from 25.6% to 47.8%. BillingTree’s 4th annual ARM Industry Operations, Technology & Payments report shows technology integration…
A new report projects mobile operators could be handling US$142 billion in m-commerce revenue by 2020 if the barriers currently facing carrier-driven payments are overcome. The report, which was independently conducted by Ovum Research on behalf of DOCOMO Digital, claims if operators, vendors and regulators don’t work together to clear these barriers, carrier-driven payments as…
American Express has ankled Ralph de la Vega for its board of directors. He is vice chairman of AT&T and CEO of Business Solutions and International. Mr. de la Vega leads AT&T’s integrated Business Solutions group (both mobile and IP services), which serves more than 3.5 million business customers in 200 countries and territories, and…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa’s U.S. payment card (credit+debit) purchase dollar volume (PDV), for the first quarter (1Q/16), logged its highest year-on-year (YOY) gain since mid-year 2013. However, there was slight erosion in the average purchase transaction YOY. Even though the big Visa issuers struggle with stagnant growth in accounts (GAC) and cards-in-force (CIF), Visa…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] An annual study has found small businesses were fraud victims and had an average of $12,139 stolen in back office fraud in 2015. Javelin’s “2016 Small Business Fraud Report: Small Businesses are Big Targets for Fraudsters” reports finds small businesses are slow to adopt anti-fraud tools, indicating either the tools are…
