Post Tagged with: "earnings"

Banks Return to Buying As Lending Club Records More Loss

Banks Return to Buying As Lending Club Records More Loss

by February 15, 2017 at 10:29 am 0 comments

Lending Club may be back on track with banks, but not soon enough to help its fourth quarter results. 2016 was a tumultuous year for the online lender. The company set high goals for the fourth quarter, including its determination to generate $2 billion in loans. The lender’s very narrow miss ofRead More

Even Visa Thinks There Are Too Many Mobile Wallets

Even Visa Thinks There Are Too Many Mobile Wallets

by February 3, 2017 at 11:05 am 1 comment

PayPal, Venmo, Google Wallet, Apple Pay, IBM Pay, Walmart Pay, Samsung Pay—the mobile wallet market just keeps on going and going, but according to Visa’s new CEO, that’s not necessarily what consumers want. Alfred F. Kelly, Visa’s new CEO, said on the company’s earnings call on Feb. 2: My personal viewRead More

For use in creating image-based Title and Divider slides within the official MasterCard Worldwide presentation template. For Corporate or B2B presentations.

Masterpass Enabled 80 Million Accounts, 10,000 SME Merchants in 2016

by February 1, 2017 at 12:16 pm 1 comment

When Mastercard fully rolled out its digital wallet last year – into the overcrowded market – it was unclear whether the company would be able reach the adoption goals set out by CEO Ajay Banga. But it did. The payment network enabled 80 million accounts at yearend 2016, and added five newRead More

Wells Shows Largest Mobile User Growth Among 3 Largest Banks

Wells Shows Largest Mobile User Growth Among 3 Largest Banks

by January 13, 2017 at 11:28 am 1 comment

Three of the nation’s largest banks released their digital user stats this morning, and yes, the banking world is still racing to mobile. Wells Fargo, in particular, demonstrated strong growth both on yearly and quarterly basis, delivering on the CEO’s promise of “continued focus” on tech and digital, despite theRead More

Square Capital Drives Company Revenue

Square Capital Drives Company Revenue

by November 4, 2016 at 11:19 am 2 comments

Square reported its third quarter 2016 earnings this week, and it’s not a particular surprise that the company exceeded all expectations: for the third consecutive quarter Square surpassed its expected metrics with a GPV of $13.2 billion, up 39% year over year. As was the case last quarter, CEO Jack Dorsey attributedRead More

Payments Down, While Ad Revenue Soars for Facebook

Payments Down, While Ad Revenue Soars for Facebook

by April 28, 2016 at 2:33 pm 0 comments

Facebook expects its payments revenue for 2016 to come in lower than 2015. The company couldn’t be more clear: ads are “the big focus.” The company’s ad revenue this quarter soared 57% year over year, hitting $5.4 billion, of which $4.2 billion – 82% – was mobile. In comparison, totalRead More

PayPal’s ‘Best Quarter Ever’ Credited to Venmo

PayPal’s ‘Best Quarter Ever’ Credited to Venmo

by April 28, 2016 at 10:51 am 6 comments

PayPal Holdings Inc. reported total payments volume of $81 billion for the quarter, up 29% from a year ago. Its newer services – Venmo and Xoom – were at the center of it all. Venmo processed nearly $3.2 billion in payments this quarter, up 150% YoY, proving once again thatRead More

In Spending Mode, Discover’s Direct Bank Expenses Climb 18%

In Spending Mode, Discover’s Direct Bank Expenses Climb 18%

by July 24, 2015 at 11:19 am 0 comments

Discover Financial Services might be the major FI most engaged in spending on information technology today. Which is why it is worth noting that the company claims it is already “seeing good returns associated with those” spending efforts, according to R. Mark Graf, the credit card issuer’s chief executive officer andRead More

Share of Digital Sales at Bank of America Hits 60%

Share of Digital Sales at Bank of America Hits 60%

by July 16, 2015 at 11:42 am 2 comments

Bank of America might want to change its name to Digital Bank of America. The Charlotte, N.C., megabank is more digital bank than conventional financial institution today. That’s because 60% of the bank’s “sales” are “all digital now,” Brian T. Moynihan, Chairman and CEO of Bank of America, told investorsRead More

Wells Fargo Goes AWOL With Its Mobile Performance Data

Wells Fargo Goes AWOL With Its Mobile Performance Data

by July 15, 2015 at 10:45 am 1 comment

Transparency took a left hook to chin yesterday when Wells Fargo & Co. chose to withhold a crucial piece of its financial data. Specifically, Wells Fargo for the first time in at least two years refused to disclose the exact number of its active mobile banking users. Instead, Wells FargoRead More