MasterCard 4Q/13 Net Revenue Up 12% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MasterCard Incorporated announced 4Q/13 financial results with a net income of $684 million, up 13%. A $61 million after-tax charge related to the opt-outs in the U.S. merchant litigations, the company reported net income of $623 million. Net revenue for 4Q/13 was $2.1 billion, a 12% increase versus the same period…

Details

Fiserv, MasterCard Advance Debit EMV Adoption

Fiserv and MasterCard agreed to make MasterCard’s U.S. common debit EMV solution available for the Accel debit network. MasterCard issuers receive flexibility to select and implement network relationships, while merchants and acquirers will continue to route transactions as they prefer, without introducing multiple applications and complicated technology upgrades. MasterCard was the first network to offer its proprietary technology to other U.S. debit networks in an effort to support the migration to EMV and enable the routing of PIN debit transactions over multiple, unaffiliated networks. This decision allows acquirers to brand transactions originating from the Maestro AID (application identifier) for all debit networks that elect to participate. The MasterCard U.S. common debit EMV solution is consistent with the EMV Migration Forum’s recommendations, including a single common debit application identifier (AID) and single application on each card, as well as multiple ways to verify the cardholder’s identity.

Details

ACI Worldwide Makes Real-Time, Any-to-Any Payments

ACI Worldwide unveiled the next generation of its consumer payments solution, enabling real-time, any-to-any payments. ACI is empowering financial institutions, retailers and billers to reduce payment processing costs, increase customer loyalty and drive new revenues by giving consumers more control over their money and the payment services they value. The company made the announcement at its Disruption in Payments events in New York and London. With the latest version of ACI’s market-leading consumer payments solution, UP BASE24-eps, as the enabling technology, real-time payments facilitate quick, secure, cost-effective and regulated transactions between consumers and retailers, financial institutions and billers. Industry experts believe that real-time payments will accelerate the global economy by eliminating billions of dollars in costs and generating billions of dollars in new revenues each year.

Details

PayPal Appoints Director of Strategy

Rakesh “Rocky” Agrawal is joining PayPal. In 2013, PayPal processed more than $180 billion in transactions; that’s roughly equivalent to the GDP of New Zealand. Just as important is the response from close friends who work at PayPal as well as VCs. Rockey will help small businesses and entrepreneurs understand online commerce and payments. There is a lot of nuance in commerce that goes beyond just APIs and technical implementation. If you can show a customer how to reduce chargebacks or mitigate fraud and as a result that business is more successful, you become more successful. If you can teach a customer to market better and they sell more, you will be more successful. The best APIs and the prettiest interfaces don’t mean much if your customers are still struggling with the rapidly changing retail environment.

Details

U.S. Bank Offers Visa Payment Controls

U.S. Bank is the first bank in the nation to offer Visa Payment Controls, which gives small business owners control over how, when and where their employees’ business credit cards are used. Visa Payment Controls lets small business owners manage how employees can use their cards based on Time of day or day of week, Geographical area, merchant type, and dollar amount. Controls can be applied or removed in real-time, giving business owners complete flexibility over managing their employee card usage.

Details

Fiserv Announces Latest Digital Banking and Payments Client

Fiserv financial services technology announced that Finger Lakes Federal Credit Union (Finger Lakes FCU) enhanced its digital banking and payment capabilities through the addition of multiple solutions from Fiserv. These include Corillian Online® and Mobiliti™ for online and mobile banking, AllData® PFM for personal financial management, and CheckFree® RXP® and Popmoney® for bill payment and person-to-person (P2P) payments. Finger Lakes FCU, which is seeing increased use of its electronic channels, is using the new technology to position the credit union to grow in a competitive market. By offering both Corillian Online and Mobiliti, Finger Lakes FCU delivers a convenient, consistent experience across the online and mobile channels.

Details

Ingenico Annouces Latest Payment Terminal Client

Ingenico announced the deployment of an innovative fiscal solution, along with its local partner Etranet Group, for Hrvatski Telekom telecommunication services. Further to the implementation of a fiscal law in Croatia, Ingenico in partnership with Etranet group (Croatian specialist in electronic payment transaction systems) and Hrvatski Telekom developed an innovative all-in-one cash register solution combining Ingenico latest generation of payment terminals with fiscal application developed by Etranet Group to equip Hrvatski Telekom customers. The solution is based on Ingenico’s range of wireless and countertop terminals (IWL220 GSM & GPRS and ICT220 GPRS). Thanks to Ingenico’s secure software application, tax information is easily transmitted to Croatian tax administration.

Details

Paysafecard claims strong full year revenue growth

paysafecard.com Wertkarten AG continued the success of previous years by achieving record results in 2013. This further establishes the company’s position as the European market leader for prepaid solutions for online payments, and showcases paysafecard as one of Austria’s globally successful companies. Last year’s total turnover of €116.4 million is the highest in the history of paysafecard, and represents an increase of 13% on the previous year’s turnover. paysafecard products were used for 68 million payment transactions around the world in 2013 – a year on year increase of 23%. A significant step taken in 2013 was the launch of the online payment account my paysafecard in 22 countries. With my paysafecard, paysafecard allows users to manage their purchased PINs via a single account. This gives users the best possible overview of their current balance and past transactions, as well as allowing them to pay online simply and easily with only a username and password.

Details

Money Dashboard goes mobile

Money Dashboard announced the availability of the mobile edition of its popular free service smart account aggregation service that automatically analyses spending across accounts to help people better understand their finances and manage their money. The mobile edition of Money Dashboard has been specifically designed to provide users with a streamlined interface, which makes accessing your personal financial information ‘on-the-go’ easier and clearer than ever before. The launch of the mobile site is a key part of a larger growth strategy from a £2.7 million investment round in November 2013. This is the first phase in Money Dashboard’s wider mobile strategy that will see native Android and iOS apps launched over the coming months. Additional features will also be launched in the near future, building an even more powerful tool for smart account management, yet retaining its core easy to use and understand philosophy.

Details

USA Technologies 4Q/13 Revenue Up 23% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] USA Technologies reported results for the fourth quarter and full fiscal year ended June 30, 2013. Fourth quarter highlights include a 23% increase in total revenues to $9.7 million and a 28% increase in license and transaction fee revenues to $8.2 million, representing 84% of total revenues for the quarter. Revenues…

Details

VeriFone Posts Revenue Exceeds Guidance

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] VeriFone Systems posted fiscal 1Q/14 net revenues of $436 million and operating cash flow of $32 million. This exceeds guidance thanks in great part to operational initiatives launched in the year ago period and innovative payment as a service and commerce enablement solutions. Additional disclosure indicated service businesses achieved net revenues…

Details