Mastercard Globally OK But U.S. Business Spirals Down for Another Quarter

Mastercard’s U.S. purchase dollar volume (PDV) quarterly year-on-year (YOY) growth has been spiraling down this year tumbling for the fourth consecutive quarter to 2.5% in the first quarter (1Q/17), compared to 2.7% for 4Q/16, and 10.3% for 1Q/16, according to CardData. While overall Mastercard is solid globally its U.S. business is sinking fast. Mastercard reported…

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FleetCor on Fire – Q1 Profits Solid & Major B2B Acquisition in the Wings

GA-based FleetCor Technologies (FLT), a major provider of fuel cards and workforce payment products to businesses, reported first quarter (1Q/17) profits jumped 11.3% year-on-year (YOY) as domestic and international transactions also posted double-digit YOY gains in 1Q/17, according to CardData. FleetCor says its fundamentals were strong, organic revenue growth was approximately 10% in the quarter,…

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Verifone Nails a Major Ukraine Payment-as-a-Service POS Deal

PrivatBank, the largest acquirer in Ukraine, has selected Verifone as its payment solution and service provider. As part of a three-year deal, Verifone will set up and manage PrivatBank merchants with point-of-sale (POS) solutions giving PrivatBank the freedom to focus on their more than 120,000 merchant clients of all sizes and verticals with financial services.…

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Mastercard on a Roll in Combining Financial Inclusion with Digital Payments

With more than two billion people still excluded from the mainstream of financial services, Mastercard is at the forefront, stepping up its efforts to increase financial access for citizens around the world by developing innovative payment solutions that enhance the adoption of cashless transactions and by stitching together strong public and private alliances that accelerate…

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Top U.S. Credit Card Issuer Charge-Offs Take-Off Bigly in Q1

Charge-offs among the nation’s top four U.S. issuers jumped 40 basis points (bps) year-on-year (YOY), and up 36 bps sequentially for the first quarter (1Q/17). All four issuers reported sharply higher credit card losses from the prior quarter, according to CardData. For the top four issuers (Chase, BofA, Capital One, Citibank), average charge-offs were 3.48%…

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U.S. Card Issuers Left with Bottom Fishing and Rewards Gamers

The number of new credit card accounts (those opened in the previous 24 months) rose to 88.1 million, driven in part by a 16% increase in new subprime accounts. Even with this increase, subprime accounts continue to comprise roughly one-fifth of total open accounts — equivalent to 2012 levels. According to the American Bankers Association’s…

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HACKATHONS + MEETUPS + PARTIES = Fintech Week & Summer in London

Fintech Week is a series of conferences, exhibitions, workshops, hackathons, meetups and parties. Each day focuses on a different topic. There is plenty of time for networking and meeting other innovators. The main conference/exhibition takes place at the Grange Tower Bridge Hotel, but other events take place across the City of London, Canary Wharf and…

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UnionPay Jazzes-Up Credit Card Perks at 100+ Airports Globally

China’s UnionPay is upgrading its perks at 100 airports worldwide, providing discounts and services at various types of merchants including duty free shops, catering stores, souvenir shops, VIP lounges, Wifi rental and airport shuttle buses. Until February 28, 2018, UnionPay cardholders can enjoy exclusive privileges and value-added services at more than 100 international airports across…

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Egypt’s Bee Mobile Wallet Integrates with the Mastercard Payments Ecosystem

Mastercard is adding Bee, the smart payment solutions provider in Egypt, as a key player to its interoperable mobile ecosystem. Bee is now fully integrated on Mastercard ecosystem to expand mobile wallets payments options. The relationship with Bee offers complete integrated solutions that allows mobile wallet users to pay directly through the application and avail…

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