Thursday , July 29, 2021

Credit Cards

Mastercard Outlines a Strong Quarter As It Pursues Strategies in Crypto, 5G, And Open Banking

As they have for rival Visa Inc., transaction volumes are continuing to improve for Mastercard Inc. as world commerce stages its recovery from the impact of the pandemic. “The strong momentum we started the year with accelerated this quarter,” chief executive Michael Miebach said Thursday morning during a session with …

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Zelle Volume up 68% and other Digital Transactions News briefs from 7/29/21

The Zelle peer-to-peer payment network processed $120 billion on 436 million transactions in the second quarter, up 58% and 68%, respectively, year-over-year, according to network operator Early Warning Services LLC.Card-present transactions at small businesses are up 83% over the pre-Covid baseline of March 2020, according to the latest CardFlight Small Business Report. The …

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Volumes Soar for Visa As the Payments Network Looks to Its Next Move in Open Banking

The big network executives aren’t quite ready to come right out and say it, but they’re certainly coming close to declaring their systems are just about at pre-pandemic performance levels. The latest example came Tuesday afternoon, when Visa Inc.’s results for the quarter ended June 30 prompted chairman and chief …

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Fiserv’s Acquiring Unit Rides to New Heights on the Back of Tech Like Clover and Carat

If there are lingering doubts about a big comeback for the big merchant processors, Fiserv Inc. may well have dispelled them early Tuesday with results showing 43% second-quarter growth in revenue year-over-year for the company’s merchant-acceptance unit. That performance comes on top of a near-doubling in payment volume for the …

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Consumer Adoption of Contactless Payments Continues to Surge, Says Latest CardFlight Report

Nearly 18 months into the Covid-19 pandemic, consumer usage of contactless payments continues to grow, according to the most recent CardFlight Small Business Report. During the week ending July 18, contactless transactions increased 597.7% from the March 2020 baseline period. Contactless usage has been steadily increasing on a weekly basis …

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How the Pandemic Has Forced Changes in the Way Acquirers Approach—And Sell to—Merchants

Ever since the Covid pandemic set in more than a year ago, the payments industry has been abuzz with talk about its various impacts on merchant acceptance. What hasn’t received as much attention is how the pandemic has affected merchant acquiring. It turns out processors and independent sales organizations have …

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Australia Peeks Into Apple Pay and other Digital Transactions News briefs from 726/21

An Australian Parliament committee held a hearing investigating Apple Inc.’s policies regarding access to the secure element for payment services on its smart phones, according to a ZDNet.com report. Apple argued its hardware-based interface is more secure than a software-focused one. Google, which uses host card emulation software for Google Pay, said …

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Consumer Spending Helps Put AmEx Within a Whisker of Pre-Pandemic Times

American Express Co. posted second-quarter numbers Friday indicating the card giant is very nearly back to its pre-pandemic performance and reflecting a steady recovery from the travel restrictions that hampered the company for most of 2020. Driving the improved results was steady improvement in the company’s vital travel-and-entertainment business and …

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Discover’s Payment Volume Increased 22% and other Digital Transactions News briefs from 7/22/21

Discover Financial Services reports its payment services volume of $78.4 billion for the second quarter of 2021 increased 22% from $64.5 billion in the same period a year ago. Its Pulse network dollar volume of $62.9 billion increased 18% from $52.9 billion year-over-year. Discover card sale volume of $45.6 billion increased …

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Most Consumers Want To Decrease Credit Card Use As BNPL And Debit Gain Favor, a Survey Finds

A majority of U.S. consumers in all age groups—76%—would like to decrease their use of credit cards as they seek to avoid debt, are wary of their ability to pay off their balances each month, and have concerns about making the minimum payments, according to a survey from GoCardless Ltd., …

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