The traditional place of the credit card as the dominant player in peoples’ credit affairs may be at risk. The latest ‘Precious Plastic’ report from PricewaterhouseCoopers (PwC) says that, as consumers find it more difficult to get credit via the normal routes, they are more likely to opt for the less mainstream but growing market of such things [...]
A recent survey conducted by Wincor Nixdorf shows that a strong majority of French consumers are interested in using fingerprint scanning technology to secure transactions. Out of 1,008 French consumers surveyed, a healthy 69% said they were in favor of scanning their fingerprint at the point of sale to secure electronic payments rather than punch [...]
Several payments industry companies released earnings reports Jan. 31, 2012 and Feb. 1, 2012. Here are some of the highlights: First Data First Data Corp.’s fourth quarter revenue was $2.69 billion, down $43 million or 2 percent, compared to the same period a year ago. The company said it lost $115 million in debit network [...]
What is the downside of applying for a credit card with a great sign up bonus? Not much. In fact, opening a single new account will actually improve your credit score in most cases. This is one of several popular misunderstandings about how credit cards work. I Pay My Balance in Full, So I [...]
Facebook Inc. made $557 million from its payments business in 2011, up from $106 million in 2010, the company disclosed Feb. 1, 2012, in a much anticipated initial public offering (IPO) filing in advance of the social networking site becoming a publically traded company. The Securities and Exchange Commission document gave potential investors insight into [...]
MasterCard Inc., the world’s second- biggest payments network, said fourth-quarter profit climbed 24 percent as spending with credit and debit cards increased. The shares rose the most in three months. Net income increased to $514 million, or $4.03 a share, from $415 million, or $3.17, a year earlier, the Purchase, New York-based company said today [...]
Fourth quarter net loss attributable to First Data improved $110 million; adjusted EBITDA up 16% –Generated $1.1 billion in operating cash flow for 2011 and ended the quarter with $1.7 billion in unrestricted liquidity First Data Corporation today reported its financial results for the fourth quarter ended Dec. 31, 2011. Consolidated revenue for the fourth [...]
Just like “the cloud” of 2009 and 2010, this year’s red-hot buzz term bandied about by executives who may or may not have clue what it means is ‘big data.’ But just as 2011 saw the world wrap its head around the cloud, the time is coming when technology around big data will gain traction, [...]
Consumers are making retail purchases through more platforms today than ever before, causing many merchants to implement new technologies to keep up with society’s evolving habits. However, security experts warn that as businesses change to improve their PCI compliance efforts, they should be sure not to trip into common pitfalls, according to a Dark Reading report. Some [...]
MasterCard today introduced a comprehensive roadmap focused on advancing the U.S. electronic payments system. The roadmap, which includes the path for migration from magnetic stripe to EMV technology currently available on “chip” cards, will serve as the foundation for the next generation of products and services developed to enhance the way consumers pay. As payments [...]