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.
The average yield among the nations’s top six bank credit card issuers came in at 11.24% for the third quarter, compared to 11.27% for 3Q/14. Capital One (COF), the nation’s fastest growing major credit card issuer, again posted the highest yields, besting the average by 311 basis points (bps) in the third quarter, according to CardData.
Visa’s (VS) Central Europe – Middle East – Africa (CEMEA) region Gross Dollar Volume (GDV) FX-adjusted picked up in the third quarter to a year-on-year (YOY) gain of 9.3%, compared to 7.3% in the prior quarter and 11.0% in the year ago quarter.
MasterCard’s (MC) Asia Pacific – Middle East – Africa (APMEA) region Gross Dollar Volume (GDV) FX-adjusted inched down in the third quarter to a year-on-year (YOY) gain of 14.0%, compared to 15.2% in the prior quarter and 17.0% in the year ago quarter.
American Express and Airbnb announce a first-of-its-kind tech integration that enables U.S. Card Members to quickly and seamlessly sign up for Airbnb and book stays at close to 2 million listings around the globe.
Fiserv and Early Warning have partnered to expand the availability of real-time capabilities in the U.S. The partnership will initially facilitate real-time bill payment and deposit capabilities for users of the NOW Network from Fiserv or the good funds network from Early Warning.
New research shows the majority of U.S. consumers support newer methods of calculating credit scores and that most Americans also support competition among developers of credit scoring models.
NCR released the latest version of its Fractals enterprise fraud detection solution, which delivers new eBanking fraud detection, powerful new fraud management features and an enhanced user interface. This new release incorporates many additions built in response to requests from the Fractals customer base.
CT-based CardFellow has inked payment processor Mercantile Processing as a certified-quote provider.
TX-based P97 Networks will integrate the P97 PetroZone Mobile Commerce Platform with SAP Vehicles Network running on SAP HANA Cloud Platform for the Internet of Things.
Chicago-based Arroweye Solutions has ankled Betty Mitchell as vice president of client engagement. She is responsible for leading a team of Arroweye client partners who implement, manage, and grow client programs.
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.