Wednesday , October 16, 2019

Discover Reports 4Q Results and other Digital Transactions News briefs from 1/25/19

  • Discover Financial Services said its payments services operation, which includes network partners, Diners Club International, and the Pulse electronic-funds transfer network, processed $60.5 billion in total volume in the fourth quarter, a 12% increase year-over-year. Volume on Pulse jumped 11% to $47.1 billion owing to new issuers as well as growth by existing issuers, Discover said. Total network volume, including proprietary Discover network processing, reached $99 billion, a 9.6% jump. Total Discover card volume reached $40.7 billion, up 5.4%.
  • WEX Inc. completed the acquisition of bill-pay and virtual card specialist Noventis Inc.
  • Apple Pay is coming to the LA Metro, the transit system serving Los Angeles, reported A rollout is scheduled for this fall.
  • London-based developer myPOS launched a new version of its Mobile Checkout product, which offers easier integration with merchant apps.
  • The Bancorp Inc., a major issuer of prepaid cards, said its prepaid division incurred expenses of $672,000 in the quarter in connection with “the exit of one relationship.”

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