Credit Cards

Working with Searchlight Capital Partners, payments provider Rev Worldwide closed on its $1-billion all-cash acquisition of the Netspend consumer business from Global Payments Inc. Netspend is a specialist in prepaid and debit cards for more than 100,000 retail locations. Payments provider Finix Payments Inc. said it is now a payment processor, having completed direct connections to …

Amazon.com Inc. has beefed up the rewards for its Visa-branded cards issued by Chase, in response to cardholder’s desire for travel-related perks and the ability to earn more rewards for day-to-day expenses, such as commuting. Additionally, Amazon is allowing cardholders to redeem rewards daily and has rebranded its cards. Prime …

The big processor Global Payments Inc. on Monday morning announced upbeat first-quarter results but also said its chief executive, Jeff Sloan, is departing after nine years in the role. Sloan, who will leave Global Payments June 1 and will be succeeded by long-time president and chief operating officer Cameron Bready, …

Amazon.com Inc.’s deal with Citibank N.A. to add Citi Flex Pay, the card issuer’s installment-loan program, to its Amazon Pay digital wallet is expected to pay big dividends for both parties. By adding Citi Flex Pay, Amazon Pay will gain access to one of the largest cardholder bases in the …

A sort of disequilibrium has set in in payments mergers and acquisitions, leading to fewer deals and stretched out times to conclude the deals that do close, according to M&A experts who spoke this week at the Electronic Transactions Association’s Transact conference in Atlanta. The new dispensation contrasts sharply with …

Amazon.com Inc. reported first-quarter revenue from “other sources” of $1.03 billion, up 55% year-over-year. The “other” category includes revenue from the massive online retailer’s cobranded credit cards. Total revenue from products and services for the quarter was $127.4 billion, up 9.5% year-over-year. Law firm BakerHostetler released its 2023 Data Security Incident Response …

The impending arrival of a commercial real-time payments service from no less an entity than the Federal Reserve will be a major event, but one Mastercard Inc.’s top brass says the card company will take in stride. “We’ll have to wait and see how it plays out, we’re well-positioned,” Michael …

Payment processor and core banking provider FIS Inc. posted first quarter revenue of $3.51 billion, a 0.6% increase from $3.49 billion in the same quarter in 2022. Its net income of $141 million was 17.5% greater than the $120 million profit a year ago. FIS’s merchant solutions segment had revenue of $1.1 …

Visa Inc.’s U.S. debit card payments volume of $767 billion in its fiscal second quarter increased 9.6% from $699 billion in the quarter ending March 31 a year ago. Its U.S. credit card payments volume of $704 billion was a 10.5% increase from $638 billion a year ago. For all regions, Visa’s …

White-label buy now, pay later provider Splitit Payments Ltd., introduced on Tuesday SplititExpress, a checkout experience that enables consumers to complete checkout in less than two seconds, compared to one-to-two minutes for other BNPL applications, Splitit says. The new feature also supports installment payments via Google Pay and Apple Pay. …