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Fintech earnings round-up: 31 July 2017

money

Several major payments companies have released Q2 earnings, including The Bancorp, Discover, Mastercard and PayPal. Overall, payments volume is on the rise and partnerships are proving particularly important for PayPal, which has been on tear with recent strategic announcements.

US credit cards gain ground on debit, prepaid – Nilson report

Credit cards

The US purchase volume of credit, debit and prepaid cards increased 7% in 2016 compared to the previous year, according to The Nilson Report. That purchase volume hit $5.648 trillion, with the volume from American Express, Discover, Mastercard and Visa credit cards increasing 8% year-on-year to reach a combined $3.059 trillion – the first time that figure has topped $3 trillion.

More banks get mobile with Android Pay

android-pay-logo-970-80

Like an astute player of the Risk board game, Android Pay’s global expansion plans continue apace as it is working with several banks to let their customers add cards to its service from a mobile banking app. The latest banks include Bank of America, Bank of New Zealand, Discover, mBank and USAA. They follow on […]

Top ten lending sites in the US – July 2016

Banking Tech 2

Who is leading the digital way among the lending companies in the US? We have put together some nifty stats for the US top ten online lending sites for the past month (data courtesy of SimilarWeb). We’ll be publishing regular updates on a monthly basis, to track the changes, developments and trends – to bring you a fuller […]

Elo and Discover mark “first” transaction for global network boost

Elo Global Card

Elo, the “first” 100% Brazilian card brand, conducted its first international transaction in the US on the Discover Global Network. This transaction marks the official acceptance of the Elo Global Card in the US. The cards are issued by Banco do Brasil, Bradesco and Caixa Econômica Federal, and will be used for international purchases and […]

Should banks consider domestic payments schemes?

John Chaplin 2014

Domestic card schemes have traditionally partnered with MasterCard and/or Visa in an arrangement that leaves the domestic player handling the local transactions and their international partner facilitating and controlling the international business. Should banks work with both or just partner with one of the international schemes?

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