Square Riding High - GPV 50%+ YOY & NFC/EMV Readers

Square Riding High – GPV 50%+ YOY & NFC/EMV Readers

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Square posted a stunning first quarter (1Q/16) with revenue up 50%+ year-on-year (YOY), gross payment volume (GPV) up more than 45% and Starbucks volume up more than 34%. Part of the growth is also driven by contactless (NFC) and chip reader (EMV) sales which have reached nearly half a million at…

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Green Dot Rebounds Nicely from 2015 MoneyPak Suspension

Green Dot Rebounds Nicely from 2015 MoneyPak Suspension

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] CA-based prepaid card specialist Green Dot reported flat revenues and a weak profit for the first quarter (1Q/16). However, 1Q/16 was the first quarterly sequential growth in active cards in a year. Additionally, gross dollar volume (GDV) was up year-on-year (YOY) and purchase dollar volume was steady YOY for 1Q/16. Gross…

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Western Union C2C Transactions +3% YOY; Mobile Hot

Western Union C2C Transactions +3% YOY; Mobile Hot

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Western Union (WU) first quarter (1Q/16) GAAP revenues, on a currency adjusted basis (FX), declined 3.8% year-on-year (YOY), while GAAP net income slipped 8.9% YOY. WU consumer-to-consumer (C2C) GAAP revenues FX declined 4.8% YOY, while consumer-to-business (C2B) GAAP revenues FX declined 7.9% YOY WU reported total GAAP Revenues FX of $1355.1…

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Despite Unfavorable Macro-Environment FLT 1Q Strong

Despite Unfavorable Macro-Environment FLT 1Q Strong

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] GA-based FleetCor Technologies (FLT), a major provider of fuel cards and workforce payment products to businesses, reported first quarter (1Q/16) profits jumped 17% year-on-year (YOY) as domestic and international transactions also posted double-digit YOY gains in 1Q/16. FleetCor says its fundamentals were strong, organic revenue growth was approximately 9% in the…

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GPN 1Q Steady Ahead of its Big 2Q Merger with HPS

GPN 1Q Steady Ahead of its Big 2Q Merger with HPS

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Atlanta-based Global Payments (GPN) reported first calendar quarter (1Q/16) [fiscal third quarter] gross revenues grew 2.2% year-on-year (YOY), while net income rose 10.4% YOY. Revenues for North America increased 1.1% YOY. GPN is gearing up for its merger with Heartland Payments Systems (HPS) in the second quarter. GPN will acquire HPS…

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DataCap TranCloud Engineered Specifically for mobile/browser POS

DataCap TranCloud Engineered Specifically for mobile/browser POS

Datacap Systems has unveiled a new EMV-enabled payments solution for mobile and browser-based Point of Sale (POS) providers. The new TranCloud is engineered specifically for mobile/browser POS. Datacap’s unique cloud approach with small footprint hardware allows POS systems to process transactions through a variety of payment processors while simultaneously driving a range of PIN pad…

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Mandatory Arbitration Credit Card Clauses Prohibited

Mandatory Arbitration Credit Card Clauses Prohibited

To the chagrin of U.S. credit card issuers, the Consumer Financial Protection Bureau (CFPB) has proposed rules prohibiting mandatory arbitration clauses. The CFPB says these widely used clauses leave consumers with no choice but to seek relief on their own – usually over small amounts. Through the Dodd-Frank Wall Street Reform and Consumer Protection Act,…

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AmEx Surviving Cobrand Losses as US CIF +6.4% YOY

AmEx Surviving Cobrand Losses as US CIF +6.4% YOY

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The impact of the loss of the U.S. Costco and JetBlue programs is manifesting itself in the American Express (AmEx) U.S. Card Services (USCS) unit during the first quarter (1Q/16). However, AmEx continues to open new accounts at a record clip. Revenue and income were up slightly year-on-year (YOY) as outstandings…

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Affirm Ankles eBay Executive as CMO

Affirm Ankles eBay Executive as CMO

San Francisco-based Affirm has ankled eBay Vice President Carl Gish to be its first Chief Marketing Officer (CMO). Gish will be responsible for enhancing and building Affirm’s global brand as the financial technology company begins expanding beyond point-of-sale payments. As Affirm’s first CMO, Gish brings over 25 years of marketing and general management experience, most…

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