Again driven by Visa’s electric performance in the third quarter with net income rising 41%, payment card profits for the top four networks rose 7.2% in the third quarter, compared to one-year ago. Visa, MasterCard, American Express and Discover reported a combined 3Q/15 profit of $3883 million, compared to $3621 million for 3Q/14.
Visa’s profits are soaring and the deal to acquire Visa Europe looks like it will happen this week for US$22 billion. Third quarter net income jumped 41% year-on-year (YOY) to $1.5 billion.
Profits among the big four U.S. based payment networks are projected to rise 10.9% year-on-year (YOY) in the third quarter says RAM Research. Driven by Visa’s electric performance in the second quarter with net income rising 24.8%, payment card profits for the top four networks rose 10.7% in the second quarter, compared to one-year ago, according to CardData.
Payment card profits for the top four U.S networks are poised to rise 11% in the third quarter, despite the fuel price collapse, says CardData and RAM Research. Visa, MasterCard, American Express and Discover reported a combined 2Q/15 profit of $4103 million, compared to $3705 million for 2Q/14.
UnionPay International, BCEL and Lao Airlines to gearing up to launch the first aviation co-branded UnionPay credit card. The aviation co-branded UnionPay credit cards issued based on the partnership will cover classic cards, gold cards and platinum cards.
Driven by Visa’s electric performance in the second quarter with net income rising 24.8%, payment card profits for the top four networks rose 10.7% in the second quarter, compared to one-year ago. Visa, MasterCard, American Express and Discover reported a combined 2Q/15 profit of $4103 million, compared to $3705 million for 2Q/14.
Jacksonville-based The Transaction Group (TTG) is providing free EMV terminals and PIN pads. TTG intends to provide merchants with a hi-tech EMV terminal to handle chip card transactions, as well as a customer-facing PIN pad with an EMV port so that the customer has possession of their credit card through the transaction process.
The stoogey European Commission (EU) is giving MasterCard a lot of grief alleging its rules prevent banks from offering lower interchange fees to retailers based in another Member State of the European Economic Area (EEA), where interchange fees may be higher.
For the first time UK ‘non-cash’ payments have exceeded those made with cash, reflecting the steady trend to use automated payment methods and debit cards rather than pay by notes and coins. However, cash remains the most popular payment method by volume, followed by the debit card, which accounted for 24% of all payments last year.
Online and mobile payments worldwide may reach three trillion Euros by 2018, with m-payments outpacing e-payments and the total payments market. The Asia-Pacific region, particularly China, is expected to overtake North America to be the largest online retail market within a few years.
While payment products are quickly penetrating African consumer markets they are primarily used for income dispensing by not for payments. South Africa, Nigeria, Tanzania, Uganda and Egypt have advanced in enabling access to and driving usage of different financial products including payments, lending, long-term savings or investments, and insurance.
TX-based NUSPAY is introducing a new VAS ” not Value Added Services, rather Virtual Account Solution for cashless, cardless and contactless transactions. The new product will be unveiled on April 1, 2015.