Digital Transactions Authoritative, insightful and timely information for payments professionals
• Lengthy negotiations for some large contract renewals caused payments software and processing provider ACI Worldwide Inc. to reduce its 2016 financial guidance; the company posted third-quarter revenues of $217 million, down 9% from a year earlier, and a loss of $9.83 million compared with net income of $14.8 million in 2015’s third quarter.
• Mobile imaging software developer Mitek Systems Inc. said revenues in its fourth quarter of fiscal 2016 ended Sept. 30 rose 23% to $9.67 million from $7.87 million a year earlier, and net income increased half a percentage point to $960,000.
• Subscription-management platform provider Recurly Inc. introduced Recurly Fraud Management, an automated service for minimizing chargebacks, preventing e-commerce fraud, and detecting the creation of unauthorized accounts.
• Visa Inc. has cut anywhere from 800 to 1,500 jobs worldwide recently with the company’s facility in Foster City, Calif., especially hard hit, the San Francisco Business Times reported. Visa did not confirm numbers but told the newspaper it is making a “variety” of job cuts. Visa is digesting its $20-billion-plus acquisition of Visa Europe and adjusting its operations in a changing payments environment.
• Cross-border payments processor Planet Payment Inc. reported that its total settled transaction count fell 27% year-over-year in the third quarter to 45.5 million while total settled dollar volume processed decreased 2% to $2 billion, but net income jumped to $2.2 million from $0.1 million on an 8% increase in revenues.
• Puerto Rico-based payment processor Evertec Inc. said its third-quarter merchant-acquiring revenue rose 6% to $22 million.
