New research finds two-thirds of survey respondents (66%) anticipate that their company’s trade with the U.S. will increase over the next five years and more than four-in-ten (43%) expect an increase of more than 10%. The survey shows that a number of the challenges to international trade are within the span of a company’s control,…
HomeSend has expanded its global framework agreement with Vodafone Group for M-Pesa, including the launch of remittance services into five new markets during 2016. The two companies will work together to enable the real-time, mobile receipt of remittances by M-Pesa users in the Democratic Republic of Congo, Ghana, Lesotho, Mozambique and Albania. In addition to…
CardFlash News Briefs: TSYS – (Atlanticus); MAGICPAY (Nova); SHIFT4 (Chase); and USBSI (awards).
Visa and Visa Europe have inked a definitive agreement for Visa to acquire Visa Europe, creating a single global company. The transaction consists of upfront consideration of €16.5 billion with the potential for an additional earn-out of up to €4.7 billion payable following the fourth anniversary of closing, for a total value of up to €21.2 billion.
ME-based WEX has entered into a definitive agreement to acquire Electronic Funds Source for $1.1 billion in cash and 4.0 million shares of common stock to be issued to investment funds affiliated with Warburg Pincus, EFS’ current owner. The acquisition is expected to be immediately accretive to adjusted net income.
Discover ranked highest for credit card customer satisfaction among U.S. credit card companies, according to the J.D. Power 2015 U.S. Credit Card Satisfaction Study. Discover received its highest ever overall score in the nine years that J.D. Power has recognized credit card companies’ customer satisfaction, with 828 out of a possible 1,000 points.
The Consumer Financial Protection Bureau (CFPB) rampage on credit card “add-on” products continues with Citi being forced to pony up more than $700 million for sins related to credit card add-on products and services.
PayPal is now valued at $46 billion and the future is very bright. Analysts expect strong total processing value (TPV) growth to drive solid mid-teens FX neutral organic revenue growth through the intermediate-term, despite lower take-rates associated with rapidly growing mobile payments.
Middle market companies’ optimism about the national economy exceeds the outlook for their local economy and industry performance. About two-thirds (68%) of middle market companies are optimistic about the U.S. economy, compared with 54% in 2014.
The new Code of Conduct for the Credit and Debit Card Industry in Canada says merchants cannot be forced to accept credit card companies’ debit products, often with higher acceptance costs, if they accept the credit offerings. Also, merchants have the ability to steer customers to lower costs options, like Interac Debit, through discounting.
Five of the top consumer finance companies made the Stable Rating Outlooks for this year. FitchRatings says the key ingredients are strong franchises and leading market positions, continued strong credit performance, appropriate risk-adjusted capital levels and increasingly diverse funding profiles.
CardWeb.com’s CardData Reports today features “2015 AFP Payments Fraud & Control Survey” from the Association for Financial Professionals.