Major U.S-Based Card Network Global Q2 GDV Rises 10% YOY – Propelled by MasterCard

Gross dollar volume (GDV) for Visa, Mastercard, American Express and Discover cards (credit + debit) globally increased 10.9% year-on-year (YOY) on a nominal dollars basis, for the second quarter (2Q/18). However, on a currency adjusted basis (FX) global GDV for 2Q/18 increased an estimated 10.3% YOY.  The major four networks posted $4648 billion in global…

U.S. Credit Card Q2 PDV Tops Double-Digits YOY

U.S. Purchase Dollar Volume (PDV), for credit cards, among the Big 6 U.S. card issuers, rose 10.6% year-on-year (YOY) for the second quarter (2Q/18). Capital One scorched the Big 6 with a 17.3%+ YOY gain. 
The Big 6 U.S. issuers racked up $640.7 billon in PDV for 2Q/18, compared to $584.1 billion in 1Q/18 and…

Verifone Gives Up on 2017 as Profits Sour in Q2 — Building for Fiscal 2018

The slowdown in EMV for the second fiscal quarter, (ended 4/30/17), (2Q/17) continues to drag on Verifone’s (VF) performance, as year-on-year (YOY) net income plummeted by more than 500%. The Company notes it continues divesting non-strategic businesses and allocating resources and capital to ensure the timely delivery of our new products, with a bright 2018…

AXP Enhanced BTA Sets a New Standard in Business Travel Management Tools

The beefed-up American Express Business Travel Account (BTA), now gives companies greater control and more visibility into their business travel expenses. The addition of Virtual Account Numbers in the refreshed product centralizes more types of business travel spending into a single account. The virtual account feature works with the existing booking processes of Travel Management…

Risks of Same Day ACH Debit Payments to Faster Payments Ecosystem Significant

A new report finds same day ACH debits create new opportunities for fraudsters to use the shortened settlement windows to bypass existing fraud prevention tools and defraud financial institutions, payment processors, and their customers. Also, legacy account validation processes — including prenotes and trial deposits — will be ineffective at identifying and preventing fraudulent debits,…

Monetha DTRS Mirrors Paypal and Trustpilot Running on Ethereum Blockchain

A combination of PayPal and Trustpilot, run on the Ethereum blockchain will commence on the August 22nd. Ethereum blockchain based mobile payment processing company Monetha, is powered by smart contracts with a decentralized trust and reputation system. Monetha’s decentralized trust and reputation system (DTRS) uses smart contracts integrating flawlessly with the payment processor. It is…

Share&Charge Delivers P2P EV Charging Network w/Blockchain Payments

California residential and commercial owners of electric vehicle charging stations enabled with eMotorWerks’ JuiceNet smart-grid charging technology will have the opportunity to rent out charging time on their stations to EV drivers participating in a new peer to peer (P2P) network powered by MotionWerk’s Share&Charge open platform. Share&Charge was founded by the innogy Innovation Hub…

Futuristic Payment Technologies and Currencies Well Supported

Electronic payments have become commonplace today, with nearly 51% of people reporting that they are paid electronically via direct deposit, and an increasing comfort level with these paperless transactions appears significant in driving consumers’ interest in even more sophisticated forms of electronic payment. Consumers are unenthusiastic about traditional paper checks, as one-third of them think…

Q2 Earnings Week Gets Underway Friday for the Payments Industry

Second quarter earnings reports for the nation’s top credit card issuers, global payments networks and supporting businesses gets underway before the market opens on July 14th. First out of the shoot, will Chase (JPM) and Wells Fargo (WFS) reporting Friday morning, according to PYRPTS.com and CardData. Citibank (C), Bank of America (BAC) and Capital One…