CFPB Fines Dwolla for Deceiving Consumers

CFPB Fines Dwolla for Deceiving Consumers

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Consumer Financial Protection Bureau has taken on online payment platform Dwolla for deceiving consumers about its data security practices and the safety of its online payment system. The CFPB ordered Dwolla to pay a $100,000 penalty and fix its security practices.  Des Moines-based Dwolla operates an online payment system. Since…

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Visa 4Q/15 Profits Soar 24%; Global PDV Up 9% YOY

Visa 4Q/15 Profits Soar 24%; Global PDV Up 9% YOY

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa’s fourth quarter net income jumped 24% year-on-year (YOY) to $1.9 billion. Excluding the Visa Europe put option, 4Q/15 profits rose 7% to $1.7 billion. Global purchase volume rose 9.0% (FX) to $1.89 trillion and total processed transactions, which represent transactions processed by VisaNet, for the third quarter, were 19.0 billion,…

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MasterCard Fourth Quarter Profits Rise 18% YOY FX

MasterCard Fourth Quarter Profits Rise 18% YOY FX

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MasterCard (MC) fourth quarter (4Q/15) profits rose 11.0% year-on-year (YOY), or up 18% on a currency adjusted basis (FX) to $977 million.  Cross-border volume rose 12% and gross dollar volume (GDV) rose 13%, on a local currency basis, to $1.2 trillion; and processed transactions increased 12% to 13.0 billion and end-of-period…

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Nexonia and Abila Integrate Solutions for Nonprofits

Nexonia and Abila Integrate Solutions for Nonprofits

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Nexonia and Abila ink a new partnership and integration deal. Nexonia helps nonprofit organizations manage their payments. Nexonia will integrate with Abila’s fund accounting solutions. With this new partnership, Nexonia Expenses integrates seamlessly in both directions with Abila MIP Advance and Abila MIP Fund Accounting, providing nonprofit organizations with an all-encompassing…

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AmEx 4Q/15 U.S. Card Profits Climb 20% YOY

AmEx 4Q/15 U.S. Card Profits Climb 20% YOY

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] American Express (AmEx) fourth quarter (4Q/15) profits rose year-on-year (YOY) by 20.0% to $799 million. U.S. credit card outstandings declined 18.0% YOY to $51.4 billion, compared to $62.1 billion in the prior quarter and $62.6 billion in year ago quarter.  U.S. credit card Purchase Dollar Volume (PDV) rose 5.0% YOY to…

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Major Study Reveals Merchants Are Not Optimizing Sites

Major Study Reveals Merchants Are Not Optimizing Sites

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] A new study of 39,000 data points, across 657 sites and 14 merchant categories shows that merchants are not optimizing their sites for mobile checkout. BlueSnap and PYMNTS say merchants are leaving as much as $152 billion dollars on the table. That is the key finding from the latest Checkout Conversion…

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Discover Fourth Quarter 4Q/14 Metrics Stable

Discover Fourth Quarter 4Q/14 Metrics Stable

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Discover’s credit card outstandings continued growth in the fourth quarter (4Q/15) rising 3.2% as Purchase Dollar Volume (PDV) rose 1.8%, year-on-year (YOY). While all other credit card metrics remained stable, overall net income for 4Q/15 soared 24.0% YOY to $500 million. Discover reported credit card end-of-period (EOP) outstandings rose 3.2% YOY…

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Breaking News: FITCH; PAYPORT; LENDINGTREE; and METLIFE

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] FITCH – Fitch Ratings has published its monthly ‘U.S. Credit Card ABS Tear Sheet’. This report shows Fitch’s break-even stress scenarios for the largest credit card issuers using February 2016 performance data. The break-even runs are based on the 12- and three-month average performance for each trust, using the current one-month…

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Capital One U.S. Cards Continue to Kick Butt in 4Q

Capital One U.S. Cards Continue to Kick Butt in 4Q

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Capital One (COF) continues to lead the U.S. credit card industry in outstandings and volume growth, posting a strong 13% year-on-year (YOY) gain in end-of-period (EOP) outstandings and a whopping 18% surge in Purchase Dollar Volume (PDV) for the fourth quarter. As the most U.S. inclusive issuer, COF U.S. cards reported…

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MasterPass is Now Available at South Africa’s iKhokha

MasterPass is Now Available at South Africa’s iKhokha

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Shoppers can now use MasterPass, the digital commerce platform from MasterCard, to safely and seamlessly pay for in-store or face-to-face purchases at over 2,000 iKhokha retailers and service providers in South Africa using their smartphones or tablets. This follows a collaboration announced today by MasterCard and mobile commerce provider, iKhokha, which…

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TD APP Adopts Visa’s HCE Tokenization for Android

TD APP Adopts Visa’s HCE Tokenization for Android

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] TD Bank Group is the first Canadian financial institution to adopt Visa’s global standard tokenization technology for its TD app for the Android operating system. Powered by Host Card Emulation (HCE), this tokenization technology provides TD customers with enhanced security by substituting sensitive account information with encrypted “tokens” during mobile payment…

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PDQ Signature Systems and Datacap Team for EMV

PDQ Signature Systems and Datacap Team for EMV

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] PDQ Signature Systems, a Pennsylvania-based restaurant and QSR Point of Sale provider, now supports US EMV through virtually all US processors via Datacap’s integrated payments solutions. As one of the first POS providers in the country to install EMV-enabled payments in August 2015, PDQ Signature Systems now has thousands of EMV-enabled…

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