Capital One second quarter earnings of $830 million were significantly impacted by a $147 million restructuring charge, earnings were further offset by a $41 million build of litigation reserves relative to the company’s U.K. Payment Protection Insurance reserve.
Visa’s profits are soaring and the deal to acquire Visa Europe looks like it will happen by the end of the year. Second quarter adjusted net income jumped 33% year-on-year (YOY) to $1.8 billion. Visa says it is targeting to resolve these Visa Europe discussions by the end of October.
Discover’s credit card outstandings continued strong in the second quarter rising 4.2% as Purchase Dollar Volume (PDV) rose 2.4%, year-on-year (YOY). While all other credit card metrics remained stable, overall net income for Q2/15 declined 7.0% YOY to $699 million.
Toronto-based TransferTo and PayPal have teamed to offer mobile airtime top-up in Canada. Without any transfer fees, Canadians can now use their PayPal account to instantly top-up prepaid mobile phones of their relatives and friends that are registered with over 400 carriers in more than 100 countries.
MasterCard has opened its digital security facility to its customers. Located in England, the MasterCard DigiSec Lab is focused on proactively testing threats to all forms of digital payments in coordination with government security agencies and leading academics.
Capital One (COF) continues to lead the U.S. credit card industry in outstandings and volume growth, posting a strong 11% year-on-year (YOY) gain in end-of-period (EOP) outstandings and a whopping 18% surge in Purchase Dollar Volume (PDV) for the second quarter.
Dallas-based Alliance Data Systems reported second quarter revenue increased 19% year-on-year (YOY). Card Services rose 27%, Epsilon revenue increased 39%, while LoyaltyOne revenue decreased 15%.
A new study has found many brands are playing ‘catch-up’ to their increasingly mobile consumers when it comes to online customer service. The fast growing number of smartphone users has already created a seismic shift in the way customers choose to engage with brands and the majority of brands are struggling to adapt.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Stephen Pair, Co-Founder, Chief Executive Officer of BitPay.
A super Brilliant Card has entered the marketplace as South Korea-based BrilliantTS has harnessed the power of UK-based CSR’s CSR1013 technology. This enables simple and secure credit and debit card payments by connecting to a smartphone using Bluetooth.
International Bancard has ankled Steve Ventura as its Senior Vice President of Partner Development. Ventura brings 20 years of business, sales and partnership experience to International Bancard at its corporate headquarters just outside Detroit.
Credomatic’s credit card businesses and banking operations in the Central American countries, with the exception of Panama, CIC is positioned to have one of the strongest financial franchises in the region. The group is a leader in the credit card business, while having a dominant market share in the acquiring and issuing businesses.