Issuing/Originating

The big processor Global Payments Inc. on Monday morning announced upbeat first-quarter results but also said its chief executive, Jeff Sloan, is departing after nine years in the role. Sloan, who will leave Global Payments June 1 and will be succeeded by long-time president and chief operating officer Cameron Bready, …

Amazon.com Inc.’s deal with Citibank N.A. to add Citi Flex Pay, the card issuer’s installment-loan program, to its Amazon Pay digital wallet is expected to pay big dividends for both parties. By adding Citi Flex Pay, Amazon Pay will gain access to one of the largest cardholder bases in the …

Amazon.com Inc. reported first-quarter revenue from “other sources” of $1.03 billion, up 55% year-over-year. The “other” category includes revenue from the massive online retailer’s cobranded credit cards. Total revenue from products and services for the quarter was $127.4 billion, up 9.5% year-over-year. Law firm BakerHostetler released its 2023 Data Security Incident Response …

The impending arrival of a commercial real-time payments service from no less an entity than the Federal Reserve will be a major event, but one Mastercard Inc.’s top brass says the card company will take in stride. “We’ll have to wait and see how it plays out, we’re well-positioned,” Michael …

Visa Inc.’s U.S. debit card payments volume of $767 billion in its fiscal second quarter increased 9.6% from $699 billion in the quarter ending March 31 a year ago. Its U.S. credit card payments volume of $704 billion was a 10.5% increase from $638 billion a year ago. For all regions, Visa’s …

Giant processor Fiserv Inc. said its revenue from its merchant business increased to $1.85 billion in the first quarter, a 12.1% increase from $1.65 billion a year ago. Brookfield, Wis.-based Fiserv said its two other segments—financial technology and payments and networks—also had revenue increases. Revenue for the financial technology business …

Payments analysts looking for where the growth is can find it in the automated clearing house network and in debit cards. With respect to transaction volume, no U.S. payment system grew faster over the three years from 2018 to 2021 than the ACH, which posted a compound annual growth rate …

As a new phase of real-time payments in the United States draws near, don’t expect payment cards to go away any time soon. That’s the consensus from several speakers at the Smarter Faster Payments 2023 conference sponsored by Nacha this week in Las Vegas. Each time a new payment rail …

Observers of the payments landscape who are wondering when the business will get its momentum back may have had their question answered early Thursday by the top executives of American Express Co. Travel and entertainment spending, a key category for AmEx historically and one that was hammered hard by the …

Discover Network reported $54.1 billion in Discover Card volume for the first quarter, up 9.5% over the same period last year. Discover’s Pulse debit network processed $65.3 billion in volume, a 9% increase year-over-year. Revenue net of interest expense rose 29% to $3.75 billion, but net income dropped 21% year-over-year owing …