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November 02, 2011

MasterCard Announces 3Q2011 Financial Results

MasterCard logo 140pxMasterCard has announced financial results for the third quarter 2011.

  • Net revenue for the third quarter of 2011 was $1.8 billion, a 27.3% increase versus the same period in 2010. On a constant currency basis, net revenue increased 23.8%.

  • Worldwide purchase volume during the quarter was up 17.2% on a local currency basis versus the third quarter of 2010, to $628 billion. As of September 30, 2011, the company’s customers had issued 1.7 billion MasterCard and Maestro-branded cards.

  • Cross-border volume was up 19.3%.

Press release, supplemental operating results, and an accompanying investor presentation are available on the MasterCard website.

First Data Reports 3Q2011 Financial Results

First data logo 140x60pxFirst Data has reported its financial results for 3Q2011. Consolidated revenue for the third quarter increased $99 million to $2.7 billion, up 4% compared to $2.6 billion a year ago. "Revenue growth was primarily attributable to increases in debit network fees and favorable impacts of changes in foreign currency. Adjusted revenue, which excludes certain items including reimbursables, increased $37 million, or 2%, year-over-year to $1.7 billion."

Visa Expands SavingsEdge Program for Small Businesses

Visa logo 60pxhVisa has announced the expansion of Visa SavingsEdge, a program that provides automatic discounts on qualifying small business expenses. "The program now includes more than 1,600 financial institutions and 39 participating merchants and is now available to 24 million eligible small business account holders in the U.S. Participation in the program is free for Visa small business account holders."

American Express Launches First Prepaid Campus ID Card

Amex logo 140pxAmerican Express has announced the launch of the University of North Florida’s (UNF) Osprey 1Card, the company’s first prepaid campus ID Card. "Starting today, all current and new UNF students can obtain an Osprey 1Card with American Express prepaid functionality embedded in the card, allowing students the ability to use their ID Card for on campus dining meal purchases and off campus at the millions of locations around the world that accept American Express Cards."

TapBuy Brings Simplified Mobile Checkout for Remote Purchases

Tapbuy iconSeveral media outlets are reporting on a new mobile checkout technology from Kima Labs called TapBuy Deals. The app stores the buyers card details and shipping information and then uses that data to emulate the checkout process on supported merchant sites. Internet Retailer has a quick overview; TechCrunch has a bit more detail. More details about TapBuy Deals is available on the Kima Labs site.

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