MasterCard has announced financial results for the fourth quarter of 2012. The company reported net income of USD605 million, up 18%, and earnings per diluted share of USD4.86, up 21%, in each case versus the year-ago period. Worldwide purchase volume during the quarter was up 13% on a local currency basis versus the fourth quarter of 2011, to USD727 billion.
As of December 31, 2012, the company’s customers had issued 1.9 billion MasterCard and Maestro-branded cards. Net revenue for the fourth quarter of 2012 was USD1.9 billion, a 10% increase versus the same period in 2011. Adjusted for currency, net revenue increased 12%.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.