Germany’s Wincor Nixdorf reports fiscal year net sales totaled €2,427 million, down 2% on the prior-year figure. Talks of a merger with U.S.-based Diebold also continue on track.
TX-based Perk.com reported total revenue increased by 156% to $13.3 million for the third quarter 2015. Gross profit was $6.3 million, or 47% of total revenue.
Fraud losses incurred by banks and merchants on all credit, debit, and prepaid general purpose and private label payment cards issued worldwide reached $16.31 billion last year when global card volume totaled $28.844 trillion. This means that for every $100 in volume, 5.65¢ was fraudulent.
Wells Fargo Bank’s implementation of rigid sales quotas drove employees to open unauthorized accounts for customers, resulting in bogus fees and damage to their credit so says a major lawsuit.
The PCI Security Standards Council (PCI SSC) announced it will convene acquirers and processors to collaborate on payment security solutions for the merchant community. The Acquirer Forum will take place on 2 April alongside TRANSACT15, the Electronic Transaction Association’s marquee global payment technology event in San Francisco.
Visa’s (VS) Latin America Caribbean (LAC) region Gross Dollar Volume (GDV) rose year-on-year (Y/Y) 13.7%, on a local currency basis, in the fourth quarter (Q4/14). Growth in the region has been growing steadily in the second half of 2014, and will likely remain so through 2015.
PSCU credit unions have saved more than $100 million in declined fraud transactions over the past 12 months. Industry-wide, credit unions have incurred expenses from card reissuance and fraud totaling $87.4 million between the Target and Home Depot breaches.
Credit Unions say The Home Depot data breach cost them dearly, to the tune of $57.4 million. About 7.2 million credit union debit and credit cards were affected by the breach.
Target announced 2Q/14 expectations are projected to include gross expenses of $148 million, partially offset by a $38 million insurance receivable, related to the December 2013 data breach. The Company provided an estimate of costs related to its recently-completed early debt retirement and updated expectations for second-quarter Adjusted1 and GAAP earnings per share.All earnings per…
Target first quarter net earnings of $418 million, with adjusted earnings per share down 13.9%. To improve performance, Target has made changes to the management team and are investing additional resources to drive U.S. traffic and sales, improve Canadian operations and advance ongoing digital transformation. The Company is projecting a 2Q/14 adjusted EPS of 85…
JPMorgan Chase & Co reported net income for the 4th Quarter 2013 at $5.3 billion. This was a slight increase from 4th Q 2012 which was reported at $5.2 billion. Revenue for the quarter was down 1% to $24 billion compared to the same period in 2012. Legal costs associated with a number of issues was noted as a reason for the drop in profits. Adjusted for the significant items disclosed in our earnings press releases this quarter and in the fourth quarter of 2012, EPS would have been $1.40 this year compared with $1.35 in the prior year and ROTCE would have been 15% this year, flat compared with the prior year.
TawiPay is addressing decisive excessive fees incurred by remittance users, who pay an average 12% in fees. A fair transfer fee of 5%, proposed by independent organizations would save $3 billion inflow of money in the Sub-Saharan African countries by increasing competition in the transfer services market, and by making the already operating service providers more cost transparent. Four European entrepreneurs founded TawiPay with the objective of closing this unfair cost gap, having launched a clear, transparent and easy to use money transfer comparison website, showing users a reliable list of options to send money abroad. This is to decrease remittance fees dramatically and therefore allow more money to arrive abroad. Users can see all established money transfer services, their respective fees and money reception channels on a single page.