International CDV Continues to Spiral Downward

International CDV Continues to Spiral Downward

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa and MasterCard international card cash dollar volume (CDV) for the fourth quarter (4Q/15) posted $720 billion, compared to $709 billion in 3Q/15 and $798 billion one-year ago. However, the nominal year-on-year (YOY) change is meaningless. On a currency adjusted (FX) basis, for 4Q/15, CDV for Visa international credit cards have…

Details
Perk Profits +51% & Rev +151%; Rolling Up Acquisitions

Perk Profits +51% & Rev +151%; Rolling Up Acquisitions

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] TX-based Perk.com reported total revenue increased by 155% year-on-year (YOY) to $17.7 million for the fourth quarter (4Q/15). Gross profit was $9.1 million, rising 51% YOY. The Perk.com fourth quarter was incredibly busy period. The Company partnered with NBC Universal to promote the launch of the Esquire Network’s first scripted series, which…

Details
GPN 1Q/16 Profits Up 10%+; HPS Merger This Quarter

GPN 1Q/16 Profits Up 10%+; HPS Merger This Quarter

[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 on track to close its merger with Heartland Payment Systems (HPS) during the second quarter. GPN will acquire…

Details
Apriva and iPayment to Tackle SMB Mobile POS EMV Market

Apriva and iPayment to Tackle SMB Mobile POS EMV Market

Apriva and iPayment have inked a deal to extend their partnership to provide EMV capable solutions to small and mid-sized businesses (SMB) using mobile points of sale. This extension of iPayment’s point of sale (POS) solutions brings EMV functionality to customers using their mobile payment application, iPayment MobilePay. iPayment MobilePay is a unique white-labeled version…

Details
Accion Invests in Aire to Accelerate Thin File Lending

Accion Invests in Aire to Accelerate Thin File Lending

UK-based financial inclusion specialist Accion has inked an investment deal with Aire, a UK-based credit scoring startup. Aire uses a proprietary artificial intelligence process to ultimately help banks lend to new, qualified borrowers. During an online interview, the company’s collects and validates applicant-provided data to evaluate profession, education, and financial knowledge. Accion made the investment…

Details
MC Intros First m-Wallet Service in Japan with JACCS Card

MC Intros First m-Wallet Service in Japan with JACCS Card

MasterCard now has its first mobile wallet service in Japan. The new JACCS Card is powered by MasterCard contactless technology. MasterCard is enabling secure, convenient mobile payments for Japanese cardholders with NFC-equipped smartphones issued by NTT DOCOMO, KDDI and SoftBank. Starting this month, cardholders can sign up with JACCS MasterCard Contactless Mobile at the JACCS…

Details
Citi’s Retail Credit Card Metrics Wobble in 4Q/15

Citi’s Retail Credit Card Metrics Wobble in 4Q/15

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Citibank’s average yield for its U.S. retail credit card portfolio dropped 45 basis points (bps) in the fourth quarter (4Q/15), compared to the prior quarter, and down 31 bps year-on-year (YOY) to 16.49%. The net interest revenue (NIR) ratio, which includes some fees, also declined by 28 bps sequentially for 4Q/15,…

Details
COF’s Whopping 18% PDV Gain Pushes Top 4 +8.7%

COF’s Whopping 18% PDV Gain Pushes Top 4 +8.7%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. Purchase Dollar Volume (PDV) among the top four bank card issuers, rose 8.7% year-on-year (YOY) and 4.7% sequentially in the fourth quarter (4Q/15). Capital One grew more than twice YOY than the peer group total. The top four U.S. issuers racked up $307.3 billon in PDV for 4Q/15, compared to…

Details