On again, off again, but now UnionPay has buddied up to bring Apple Pay into China. In a few months China UnionPay cardholders will be able to add their bank cards to Apple Pay on iPhone, Apple Watch and iPad.
Discover Financial Services (DFS) has landed on Barron’s “Top Ten Stock Picks for 2016.” A “steady grower,” DFS replaces “sprawling” Bank of America (BAC).
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.
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.
American Express is committed to make Apple Pay to be available in key global markets allowing its cardholders to pay on the go with an iPhone, Apple Watch or iPad. Apple Pay is expected to be available for Card Members in Canada and Australia this year and in Spain, Singapore and Hong Kong in 2016.
In today’s CardFlash News Que: CASHSTAR (gift cards); PAYANYWHERE (NFC); AFFIRM (e-commerce); and TCH (FIS).
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.
MasterCard Identity Check, a suite of technology solutions that leverage advanced technologies to prove a consumer’s identity and further simplify the online shopping experience is here.
AutoManager has integrated with TSYS’ ProPay to deliver fully integrated electronic auto loan payments for auto dealers. DeskManager, AutoManager’s DMS software, will now allow borrowers to pay auto loans by debit card, credit card or bank account.
In today’s CardFlash News Que: AMERICAN EXPRESS (Sam’s Club); VISA CANADA (Foundation); SYNCHRONY (Graber); and EPC (Phoenix).
North American Bancard says the newest version of its PayAnywhere Mobile credit card reader is now available for purchase in all U.S. Apple Stores and Apple.com.