MasterCard and Samsung are extending their global partnership leveraging the MasterCard Digital Enablement Service (MDES) to deliver Samsung Pay in Europe. Samsung Pay is a mobile payment service that will enable consumers to use their Samsung flagship mobile devices to make every day in-store purchases at contactless and magnetic stripe terminals leveraging NFC and MST technologies.
TD Bank inked a deal with MasterCard to route debit and prepaid card transactions over MasterCard’s Maestro network. Through the agreement, MasterCard will process TD Bank’s debit card and prepaid card PIN transactions.
MasterCard (MC) second quarter profits rose 4.7% year-on-year (YOY), or 12% on a currency adjusted basis (FX) to $965 million.
Cross-border volume soared 17% YOY. Global purchase volume rose 12.8% (FX) to $1141 billion and end-of-period (EOP) global cards-in-force (CIF) nearly hit 1.5 billion.
GA-based acquirer TSYS reported a solid second quarter as total revenues for hit $692.6 million, an increase of 15.1% over the prior year. Income from continuing operations attributable to TSYS’ shareholders was $82.8 million, a whopping increase of 38.6%.
Bank of Mongolia (BOM) and JCB have inked a system network agreement for T-Card JCB credit and debit card issuing. Mongolia’s economy is growing fast and the country is seeing an increase in overseas travel for both business and leisure. In 2013 about 1.35 million Mongolian people traveled to nearby Japan, China, Korea and Russia, where JCB has a strong presence.
China’s UnionPay cards now enables cardholders to shop for merchandise made in Korea without actually being in the country. About 60,000 online merchants in Korea now offer exclusive 5% cash rebate upon purchases made with UnionPay cards.
APG Cash Drawer is going big time on showcasing its Cashlogy POS1000 cash recycler technology, mobile cash drawer solutions, and the Stratis Integration System.
Visa and Stripe have inked a strategic partnership to support new technologies and online payment experiences for merchants, developers and consumers worldwide. Through this relationship, Stripe will accelerate its international expansion, particularly in emerging markets, accessing Visa’s global footprint through its acquiring and issuing partners. To support this growth and joint long-term initiatives, Visa has also made a strategic investment in Stripe.
Transact24, a Hong Kong-based payment services provider, has opened a new US office in Frederick, MD. Transact24’s focus on the US market has increased in recent years as a direct result of the growth of their ACH payment processing and credit/debit card acquiring business lines.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Melisa Miller – Executive VP & President, Retail Credit Services of Alliance Data.
Americans’ debt has increased over the past three decades, due particularly to home mortgages and student loans, with important implications for long-term economic mobility. A full 80% of Americans hold at least some form of debt, and nearly 7 in 10 say debt is a necessity in their lives, even though they would prefer not to have it.
MasterCard announced that more travelers around the world will be able to check out quickly and securely now that several new transit and travel retailers are offering MasterPass. Accepted in 24 countries, MasterPass enables consumers to pay for the things they want with the security they demand, anywhere online or in-app, using any device.