In today’s CardFlash News Que: BANKRATE (gift cards); GEMALTO (report); CSI (award); and UPROMISE (survey).
Bankrate reported third quarter revenue of $140.8 million but delivered a GAAP net loss of $23.4 million. The investment to redesign o CreditCards.com site, which went live in April, is bearing fruit as it has helped drive a record number of unique visitors to the site.
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.
Performance Horizon added two executives to meet the company’s growing global IT and communications needs. Alistair Wyse was appointed Chief Information Officer and Erik Mikisch was named Vice President of Marketing.
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.
eBay’s PayPal racked up an 11.1% gain in year-on-year (YOY) accounts to 169 million. PayPal, a force to be reckoned with as it jettisons from eBay this year, is going to be a wrecking ball to the payments industry.
eBay’s PayPal net total payment volume (TPV) for the first quarter grew 18% year-on-year (YOY) to $61.4 billion. PayPal gained 3.7 million new active registered accounts to end the quarter at 165.2 million, up 11%
Culver City, CA-based Lootsie, a startup loyalty and rewards platform for mobile apps, has snagged $3.5 million in seed funding. Since launching in 2012, the company has partnered with major retailers, brands and developers including SOL REPUBLIC, Manduka, Sevenlogics and All Shook Apps.
TX-based Mozido, a cloud platform mobile payments and retail engagement solutions provider, has acquired the majority ownership in SK C&C USA dba CorFire, a U.S.-based mobile commerce company previously wholly-owned by South Korean IT services provider SK C&C.
Mobile phone and tablet users will make 195 billion mobile commerce transactions annually by 2019, up from 72 billion this year. The highest net increase in transaction volumes will occur in the digital goods sector, fueled by a surge in micro-payments for in-app purchases, notably within arenas such as social gaming.
BitPay has integrated with Xsolla, a well-known billing platform that helps game developers monetize and improve conversion. Big gaming companies like Twitch and Nexon have already started accepting bitcoin as a reliable in-game payment method.
Gemalto has signed a definitive agreement to acquire 100% of the share capital of SafeNet from Vector Capital for US$890 million on a debt free/cash free basis.SafeNet technology protects over 80% of world’s intra-bank fund transfers and its 1,500+ employees, including 550 cryptographic engineers, serve more than 25,000 customers, both corporations and government agencies, in over 100 countries. In 2013, SafeNet recorded revenues of US$337 million and profit from operations of US$35 million and expects revenues of US$370 million and profit from operations of US$51 million for 2014. The purchase price of US$890 million is self-funded with US$440 million from available cash, and US$450 million drawn from existing long-term credit facilities. The closing of the transaction is expected to occur in Q4 2014, after approval from the relevant regulatory and antitrust authorities.