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October 17, 2012

Payments Views - Mobile Payments and QR Codes

GP Logo Horizontal 140pxOver on Payments Views, Glenbrook's Elizabeth McQuerry has posted an article entitled, "From Sweden with Love: Mobile Payments and QR Codes". Elizabeth explores the SEQR mobile payment solution from Swedish startup Seamless and compares and contrasts it with some similar systems in the U.S. market.

A Look at PayPal's 3Q2012 Financial Results

PayPal logo 140x60pxPayPal's parent eBay announced financial results for 3Q2012.

PayPal delivered a strong third quarter performance. It ended the quarter with 117.4 million active registered accounts, a 14% increase over the third quarter of 2011. Revenue increased 23% year over year and net total payment volume (TPV) grew 20% year over year to $35.2 billion.

eBay reported that the PayPal 'take rate' was 3.89% in 3Q2012, down from the prior quarter, but up 11 basis points from a year earlier. Transaction expenses were 1.07%, down 7 basis points from a year earlier. The loss rate was 0.30%, up from the prior quarter, but down one basis point from a year earlier.

Visa Estimates $109.1 Trillion in Global Commercial Spend in 2011

Visa logo 60pxhVisa has released its annual global Commercial Consumption Expenditure (CCE) index, which estimates that global commercial spending reached $109.1 trillion in 2011. This represents 12% growth from the $97.4 trillion spent in 2010 and marks the first time since Visa created the CCE in 2004 that this spending surpassed $100 trillion.

“Despite a slow, but sustained economic recovery, we continue to see healthy expansion in commercial spending,” said Tad Fordyce, head of global Commercial Solutions, Visa Inc. “Underneath this growth lies a clear opportunity for financial institutions to optimize their commercial card programs to capture more spend with electronic payments and ultimately better meet the needs of their commercial and government clients.”

TSYS Releases 2012 Research Results On Consumer Payment Preferences

Tsys logo 140pxTSYS has announced the results of its second annual nationwide primary consumer research study. More than 1,000 consumers who owned a debit card were surveyed on payment choice, perceptions of value, and what might influence them to change how they pay. Key findings include:

  • Debit cards continue to be the preferred payment type for everyday purchases, driven in part by the desire of many to manage their money on a near-daily basis.

  • Merchant discounts and offers are the most effective way to influence consumers to use a payment type more often.

  • Awareness of alternative payment accounts and methods is high, and consumers’ overall understanding of and interest in mobile payments has advanced considerably since last year.

  • Consumers continue to be focused on the security, ease of use, control and speed at check-out, and incorporating these features into new or expanded offerings will result in greater consumer adoption.

You can request a copy of the research results at www.tsys.com/debit.

Bank of America Reports 3Q2012 Financial Results

BankofAmerica logo 140pxBank of America has reported financial results for the third quarter 2012. In Consumer and Business Banking, the Card Services segment reported net income of $994 million for the quarter. The number of new U.S. credit card accounts opened year-to-date grew 8% from 2011. During the third quarter of 2012, the number of BankAmericard Cash Rewards cards increased by nearly 400,000 to a total of 1.7 million cards since the product launched in the third quarter of 2011.

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