Visa posted better-than-expected quarterly earnings Wednesday as the credit card network increased prices and cut expenses. The company also benefited as consumers used debit cards more. Net income rose 70 percent, to $536 million, or 71 cents a share, for the second quarter ended March 31, compared with $314 million, or 39 cents a share, for the period a year earlier. On an adjusted basis, quarterly net income rose 38 percent, to $553 million, or 73 cents a share. Analysts had expected earnings of 64 cents a share, according to Reuters Estimates. Net operating revenue rose 13 percent, to $1.6 billion, while total processed transactions — which represent transactions processed by VisaNet — increased 6 … more
Contents tagged with Credit Card News
Effective July 1, 2010, acquirers must ensure their merchants use only compliant applications.
This Payment Card Industry Data Security Standards (PCI DSS) compliance mandate is just around the corner and impacts the entire payment industry. As a result, terminal equipment vendors are discontinuing production of hardware and replacement parts. Payment applications previously supported are being fully retired.
Some merchants using late model terminals will need to upgrade within the next 14 months. We highly recommend that merchants avoid purchasing used or refurbished terminals. Also, please be aware of a rise in proprietary terminals … more
The tool groups together the requirements of PCI DSS v1.2 into six key milestones for merchants to consider in achieving their PCI DSS compliance. It also offers guidance on how to focus PCI DSS implementation efforts in a way that expedites the security of cardholder data.
Additional benefits of the Prioritized Approach are:
An increased awareness of cardholder data security
Assistance for businesses to identify highest risk targets
The creation of a common … more
For many companies, accepting credit cards is essential. Because of this, businesses and merchants can benefit greatly by having a resource to learn more about the specific cost of opening and operating a merchant credit card processing account. Making this decision without the proper knowledge and research … more
moreBeginning May 5, Google Checkout's fees will transition to a new tiered fee structure based upon a merchant's monthly sales processed through Checkout. While this new fee schedule appears to be similar to PayPal, Google's transaction processing rate will vary each month based on your prior months sales volume. The new pricing plan will also eliminate the credit for Google AdWords advertising, discontinuing the processing promotion that was part of the original fee structure for Google Checkout. Fees apply the same for Visa, MasterCard, American Express, and Discover payments. There are no monthly, setup, or gateway fees. However, for cross-border transactions, there will be an additional 1% fee assessed per transaction. To learn more about …
moreIn a new global ad campaign, Visa changes focus to the advantages of plastic over paper cash and checks. Consumer perceptions of credit card brands has been trending negatively because credit limits have been reduced and cards are being canceled. The new campaign is designed to play up the security, control and convenience of using a Visa cards. Visa launched Visa.com/go and Visa.com/goresponsibly as part of the campaing.
States Requiring Full (Cardholder and Merchant) Receipt Truncation:
Colorado - as of 01/01/2006
Tennessee - as of 01/01/2007
California - as of 01/01/2009
Under the current legislation in Colorado, Tennessee and California, a merchant is required to truncate both the cardholder and merchant copy of the receipt by masking the card number and the expiration date as follows:
Card number truncation is defined as masking all but … more
The continuing adoption of credit and debit cards worldwide has cushioned the effects of a U.S. slowdown. Visa and MasterCard, which collect fees to shuttle payments between financial institutions, are insulated from rising credit-card defaults because the networks process transactions and don’t make loans to cardholders. Banks that issued Visa and MasterCard to cardholders … more
However the resilience of Visa can be seen in the contribution of debit products in the US as consumers continue to more frequently use debit as a method of payment. In fact, 95% of the volume in the Visa system comes from people that use debit cards which don’t have a credit limit or a credit card from people that either pay their bill in full every month or occasionally revolve and never revolve at more than 50% of their line. Visa is … more
Read more about April 2009 Interchange adjustments...