New mobile, portable and reader devices from POS terminal manufacturer Verifone were designed to serve multiple use cases and a variety of merchant sectors. These devices will be sold under the Verifone Victa brand to independent software vendors (ISVs), independent sales organizations (ISOs) and acquirers, as well as directly to merchants, in all world regions.
In 2024, the value of 67 investment transactions for which the monetary value was announced amounted to $5.51 billion. This compares to 85 deals with announced values totaling $8.90 billion in 2023.
Mastercard and Visa credit card purchase volume worldwide through the first nine months of 2024 grew 8.0% to $8.124 trillion. Credit cards issued outside the US accounted for 57.07% of that amount, up from 56.15% in 2023.
Every month we publish a snapshot of the stock market performances of more than 130 companies that earn revenue from customers in the payment card industry. This issue features the four publicly traded card payment networks and the 20 publicly traded issuers of payment cards. Combined, the card networks held a market capitalization of more […]
Total credit card volume (purchases and cash advances) was $224.58 billion for Discover Financial Services (DFS) in 2024, a decline of 3.5%. Cash advances were 5.49% of total volume, down from 6.39% in 2023. Outstanding credit card receivables at year-end 2024 were up 0.5% to $102.79 billion.
CardWorks, a consumer finance lender and servicing organization specializing in the near-prime consumer sector, has entered into a definitive agreement to purchase the $2.29-billion credit card portfolio of Ally Financial. When the transaction closes, the buyer of record will be Merrick Bank, a subsidiary of CardWorks.
General purpose and private label credit, debit and prepaid cards in circulation worldwide are projected to reach 31.13 billion by December 31, 2029. At year-end 2024 that figure was 27.76 billion.
The plaintiffs allege that by regulating their services, the CFPB creates a cooling effect on innovation. They state that “CFPB supervision thus places enormous burdens on a supervised company, diverts financial and personnel resources, and inhibits innovation and the roll-out of new products and features.”
Tuzo’s rewards platform assigns points based on the purchase volume of every credit card payment merchants accept. Points can be redeemed for travel, prepaid cards, electronic devices, vacation destinations and luxury goods.
PDX Beam, which charges merchants 2% of the value of a transaction for its service depending on volume, says that settlement has been occurring in as soon as 20 seconds, including merchant payment confirmation.
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