Dallas-based Alliance Data Systems reported third quarter revenue increased 20.5% year-on-year (YOY) to $1589 million. However, net income for 3Q/15 declined 20.9%to $130.4 million.
The first US-issued bitcoin debit card has been unveiled. The Shift Card is a VISA debit card currently allowing Coinbase users in twenty-four states in the U.S. to spend bitcoin online and offline worldwide.
More than six billion VantageScore credit scores were used in the 12-month period running from 3Q/14 to 2Q/15. The Company says it is a 100% increase over the previous 12-month period.
China’s UnionPay has become the only international bankcard association offering Chinese Visa application VIP express service. UnionPay cardholders can apply at the Chinese Visa Application Service Centers in five cities in Australia, namely Sidney, Melbourne, Canberra, Brisbane and Perth. This service will substantially shorten the processing time, and will soon be rolled out in some of the other countries where UnionPay cards have been issued.
Telekom Germany is launching Deutsche Telekom AG’s (DTAG) MyWallet 2.0 with the help pf US-based Mozido. The new version includes mobile payments, advertising and loyalty.
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.
Gemalto posted revenue at €769 million, up +23% at historical exchange rates and +13% at constant exchange rates. Platforms & Services revenue soared +74% at constant exchange rates and +13% pro forma.
Sequent Software has launched the first Token Service Platform (TSP) to support all types of cards including credit, debit, prepaid and access control credentials. Compatible with all major credit and debit card networks, Sequent Token Service Platform allows banks to deploy a single solution to support their entire credit and debit card portfolio plus profitable private label and prepaid cards.
Cardholders are 22% more likely to be very-to-extremely satisfied with their bank if they have received an instantly issued debit card instead of a card sent by mail. A new study also found that cardholders who receive their card instantly in a branch often start using it immediately, accruing between $0.50 to $0.77 in additional interchange revenue for their bank during the first month.
MA-based Virtusa has released vToken, a solution accelerator. The solution was developed for enterprises, issuing banks and issuer processors that are considering providing Token Service Provider (TSP) functionality and building in-house EMVCo based tokenization system.
Dai Nippon Printing (DNP), a NFC technology supplier and solution provider for financial institutions in Japan, has inked Gemalto to provide its mobile payment solutions to DNP.
The nation’s second largest Visa and MasterCard issuer continues to struggle with sluggish outstandings and purchase dollar volume (PDV) growth, but credit card quality continues to improve in the third quarter.. However, Bank of America (BofA) continues to sign up 1.3 million accounts each quarter.