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Orders for Europay-MasterCard-Visa (EMV) smart cards rolled in for bank and payment processor Fidelity National Information Services Inc. (FIS) in the fourth quarter while rival Fiserv Inc. saw increases in its multi-faceted payments business. Jacksonville, Fla.-based FIS on Thursday reported $647.2 million in fourth-quarter revenues from its Payment Solutions Group …
Read More »Braintree’s Mobile Transactions Grew 400% in Fourth Quarter
Online-payments provider Braintree says 2014 was a banner year for the Chicago-based unit of PayPal Inc., with total transactions growing to 2.8 times the 2013 tally. In a blog post, chief executive Bill Ready also said that Braintree’s mobile transactions in the fourth quarter increased to four times the number …
Read More »Mobile Now Controls More than One-Fourth of Online Transactions, Key Report Says
More evidence emerged in recent days to document the surging rise of mobile payments worldwide. For the first time, mobile transactions account for more than 25% of all global online traffic on the Adyen platform, the company said while releasing its quarterly Mobile Payments Index last week with statistics on the …
Read More »No Argument Here: Younger Consumers More Likely To Use Mobile Wallets
Twice as many 18-to-34 years old consumers, 32%, are likely to use mobile wallets like Apple Pay or Google Wallet as those 35 and older (16%), according to a survey of more than 900 adults by Fair Isaac Corp. That divide is even more pronounced among respondents 50 years or …
Read More »Higher Transaction Volumes Help Boost MasterCard’s Quarterly Profit by 21%
Boosted by higher transaction volumes both in the United States and abroad, MasterCard Inc. on Friday reported a 21% increase, adjusted for foreign-currency effects, in net income for 2014’s fourth quarter. The No. 2 payment network posted an $801 million profit versus $684 million a year earlier on net revenues …
Read More »As M-Commerce Increases, So Too Does Fraud, But Disproportionately: Study
As mobile commerce becomes ever more important to merchants, so too does the number of mobile payments made via apps and Web sites viewed on smart phones and tablets. Along with this growth, however, is a disproportionate increase in fraud as a percent of m-commerce revenue, finds the “2014 LexisNexis …
Read More »Observers Applaud Fed’s Payments Plan, But Lament Slow Pace of Progress
Now that the Federal Reserve has released its plan for faster payments in the United States, observers are applauding the effort while expressing some impatience with what they see as the central bank’s overly deliberate approach. “The Fed is indeed headed in the right direction, but it is a slow …
Read More »C-Store Chain Wawa Debuts a Mobile Payments And Rewards App
Starbucks Corp. has proven that consumer apps for buying coffee are becoming more popular, and now convenience stores have joined in with c-store chain Wawa Inc. launching its mobile-payments and rewards app. To use the payment function of the Wawa app, which is available for iOS and Android smart …
Read More »The Fed Releases Strategies, Plans for Faster Payments, Looks for Industry Participation
In a blueprint released Monday for a faster and more secure U.S. payments system, the Federal Reserve called for industry task forces to form early this year and for a “framework” to emerge by 2016 to set rules for near real-time payments. The banking regulator also set out five broad, …
Read More »Eye on Earnings: Card Volume Up for AmEx And Discover, But AmEx To Cut Jobs
American Express Co. reported $182.5 billion in U.S. card-billed business in the fourth quarter, up 7.9% from $169.1 billion a year earlier, and discount-fee revenues increased 1.8% to $4.99 billion from $4.90 billion. The average worldwide discount rate, however, decreased three basis points to 2.45% of the sale. American Express …
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