Thursday, August 2, 2012

45 Mobile Payment News Stories for August 2, 2012

ePaymentNews45 news results for "Mobile Payment"

LevelUp Pulls in Another $9M to Close $21M Round
BostInno (blog)
The money will go to helping expand the company's mobile payment network. "Having T-Venture on our side is tremendous affirmation of our Interchange Zero strategy," said LevelUp's Chief Ninja, Seth Priebatsch. "We're incredibly excited to have such ...
See all stories on this topic »
Google Revamps Pay-By-Phone Service
Fox Business
Google Revamps Pay-By-Phone Service. Published August 01, 2012. Dow Jones Newswires. Google Inc. (GOOG) unveiled changes to its mobile-payment system Wednesday in a bid to get the upper hand in the battle for control of consumers' "digital wallets.

See all stories on this topic »
Google Wallet App Takes Cloud Approach To Support All Cards
Hot Hardware
Google Wallet hasn't exactly taken over the mobile payment space. In fact, we'd argue that startups like Square are doing a better job of infiltrating the small biz market and grabbing mind share all the while. Why, you ask? Because Wallet was limited from the ...
See all stories on this topic »

Hot Hardware
LevelUp adds $9M to fuel mobile payments expansion
Upstart (blog)
Boston's SCVNGR said Thursday it's added $9 million to its Series D round of funding, bringing the round to $21 million in a bid to fuel national growth of the company's LevelUp mobile payment service. The funding comes from new investor T-Venture, the ...
See all stories on this topic »
Google Wallet accepts both debit and credit cards
Technology Bloom News
Google Wallet will now allow users to add any credit or debit card they own to the mobile payment application. The announcement came from a blog post on the Google Commerce blog and it says that users simply have to input the credit card information into ...
See all stories on this topic »

Technology Bloom News
Google Wallet Now Works With Multiple Credit Cards
New York Times (blog)
Square's Mobile Payment App Gets New Name and Look · With New Hardware, Square Begins Taxi Rollout · Considering a Successor for the TVs in New York Taxicabs · Vulnerability in Google Wallet Leaves Funds Wide Open. Previous Post Today's ...
See all stories on this topic »
You Can Now Use Any Credit or Debit Card with Google Wallet
Complex.com (blog)
Google today released a new version of its Google Wallet mobile payment platform that allows users to pay for goods with any of their credit or debit cards, the search giant announced today. When introduced in May 2011, Google Wallet allowed MasterCard ...
See all stories on this topic »
Google beefs up Wallet security, opens to any credit or debit card
GigaOM
Google added a much-needed feature to its mobile payment product Google Wallet on Wednesday: users can now use it to charge something to any credit or debit card they own. In addition, Google has beefed up payment security by storing card information ...
See all stories on this topic »

GigaOM
Google Wallet Now Supports All Major Credit, Debit Cards
InformationWeek
Apparently Google was working hand-in-hand with PayPal to create a mobile payment system, but according to the suit (read an online copy courtesy of TechCrunch) Google backed out at the last minute and recruited the former employees instead. Another ...
See all stories on this topic »
Google Wallet is reborn with support for all major credit cards
VentureBeat
One, clearly, is that of adoption: As Google knows, it's tough to get mobile users interested in a mobile payment system that only supports a single credit card, as Google Wallet did previously. Two, Google is also trying hard to bridge the gap between ...
See all stories on this topic »
Google expands Wallet payment platform
V3.co.uk
The company said that the expansion would give the mobile payment platform support for Visa, Mastercard, American Express and Discover cards. Additionally,the company is integrated with some 25 retail chains. Launched in the Fall of 2011, the Google ...
See all stories on this topic »

V3.co.uk
Digital Money, Mobile Wallets and Latin America
Huffington Post (blog)
In Latin America, to date we've seen the arrival of initiatives to improve mobile payment transactions and incorporate unbanked users such as Transfer in Mexico (Telmex with Citi/Banamex and Inbursa) and Wanda (MasterCard and Telefonica) in Argentina, ...
See all stories on this topic »
Your Smartphone as Your Wallet: 3 Companies That Will Cash In
DailyFinance
But mobile-payment upstart Square already processes $6 billion worth of transactions a year. Online-payment giants like eBay's (EBAY) Paypal and Google's (GOOG) Wallet are also seeing impressive growth. Credit card companies Visa (V), MasterCard (MA) ...
See all stories on this topic »
Google Wallet opens up to all credit, debit cards
Know Your Cell
Google Wallet just became a lot more useful, as Google has turned the mobile payment system into a cloud-based service that supports all major credit and debit cards from Visa, MasterCard, American Express and Discover. If you don't know, Google Wallet ...
See all stories on this topic »
Amazing: Google Wallet Now Supports Any Credit or Debit Card; New Security ...
TechnoBuffalo
Google announced on Wednesday that its Google Wallet mobile payment app — largely supported by Sprint in the United States — now supports any credit or debit card. I usually refill my Google prepaid card for purchases, but this update is amazing for me ...
See all stories on this topic »
Google Wallet Uses The Cloud To Support All Credit Cards
Fast Company
On Wednesday, Google announced the latest version of its NFC-enabled mobile payment platform would support all credit and debit cards from Visa, MasterCard, American Express, and Discover. To accomplish this flexibility, Google changed the way it ...
See all stories on this topic »
Amid the Nexus 7 tablet success, Google elevates Wallet service
PopHerald.com
With a revised Google Wallet and a successful tablet, the Nexus 7, it is safe to say that more businesses will take advantage of the mobile payment system, and soon — mass adoption? Tweet. | This news article is posted under Tags: Google Wallet, Nexus 7. | ...
See all stories on this topic »
Google Wallet moves to the cloud, opens up to all credit and debit cards
Engadget
Today that finally changes with the latest version of Big G's mobile payment system. Now you'll be able to use any credit or debit card you wish, and take them with you from one device to the next. Early versions of the digital wallet used the phones secure ...
See all stories on this topic »
Google Wallet 2.0: The easy way to pay with NFC?
NFC World
When a user conducts a mobile payment, this prepaid card draws on a credit or debit card which the user has previously linked to the card account to fund the purchase. "Since we released the first version of Google Wallet, the app that makes your phone your ...
See all stories on this topic »
Google Wallet now accepts all major credit cards, debit cards
AndroidGuys
Users will be able to remotely disable their mobile wallet app from the web, adding even more peace of mind for the mobile payment option. Of course, the Google Wallet app still uses a password and Google always suggests using a PIN or lock screen on ...
See all stories on this topic »
Gas pump-makers on board with Isis
Mobile Payments Today
The sign at the gas pump may warn you not to use your cellphone lest it spark a hellish conflagration, but Isis, the mobile payment joint venture between Verizon Wireless, T-Mobile USA and AT&T Mobility, will be encouraging that behavior soon — at least as ...
See all stories on this topic »
The Daily Start-Up: Deutsche Telekom Backs LevelUp, Start-Up With 0% Card ...
Wall Street Journal (blog)
dailystartup_D_20090806101628.jpg Art by Mike Lucas. Deutsche Telekom's venture arm T-Venture is investing in new mobile payment player LevelUp, VentureWire has learned. The $9 million infusion comes as the Boston-based start-up completes its third ...
See all stories on this topic »

Wall Street Journal (blog)
Rebooted Google Wallet now accepts any credit card
Mobile Payments Today
News. Gas pump-makers on board with Isis · Cashless Olympics score low at Wembley stadium · New mobile payment SDK announced by ROAM Data · » View More News. Blogs. Checking in on mobile banking · Triangulation: the three-legged stool of ...
See all stories on this topic »
Google Wallet Goes Cloud, Supports Multiple Credit and Debit Cards [VIDEO]
IBTimes.co.uk
Google Wallet, a popular mobile payment system, has been a handy app that turns the phone into a wallet allowing users to pay for goods through the device. Google has released a new Cloud-based version of Wallet that supports all major credit and debit ...
See all stories on this topic »
Social Mobile Payments: Americas, November 6 – 8 – Miami, FL
Ubergizmo
Social Mobile Payment's Global Appeal: Your input, viewpoint and experience will enhance and fuel solutions that will propel all participants to new heights. The Americas event will concentrate on the simultaneous rise of the three individual aspects; social, ...
See all stories on this topic »

Ubergizmo
Google Wallet now works with all major debit and credit cards
ByteNow
Many devices and carries still struggle with Google Wallet availability, but one of mobile payment's biggest concerns has finally been answered. Now, if only Apple will tell us the real truth for the use of Passbook. We may have some mobile payment ...
See all stories on this topic »

ByteNow
Google Wallet Now Available For All Major Credit Cards
The Inquisitr
My favorite mobile payment platform? The often used Starbucks app on my iPhone 4. Category: Mobile Tags : american express, Discover Card, google, google wallet, Mastercard, Mobile Payments, Smartphone Payments, Visa Posted: August 1, 2012 ...
See all stories on this topic »

The Inquisitr
CreditCall, EMV Academy teams on US EMV migration
Contactless News
The new Chip and PIN-based mobile payment technology offers firms a speedy, secure, and cost effective way to complete financial transactions via smart phones and tablets, boosting cash flow for business both large and small. [end]. Related Articles ...
See all stories on this topic »
Mobile Payments: Can Banks Seize the Moment to Transform Consumer Finance?
Banktech (blog)
... from the 2012 Consumer Payments Survey," IDC Financial Insights found that mobile payments have more than doubled in popularity in the past year, with more than 33 percent of survey respondents reporting that they have made a mobile payment.
See all stories on this topic »
Google Wallet now works with any and all cards
Geek
... next vacation? Not quite yet, but Google is making that more and more possible with updates like this to Google Wallet. Read more about Google Wallet on the Google Commerce Blog. Tags: Android, credit cards, Google, mobile payment, nfc, update, wallet ...
See all stories on this topic »
QuickPay Corp. Brings Mobile Payments to Gated Parking Facilities and ...
MarketWatch (press release)
... a cloud-based mobile parking access and revenue control system that integrates with any legacy parking infrastructure, enabling parking and transit owners and operators to unify their assets under a single low-cost, fast-deploy mobile payment platform.
See all stories on this topic »
Google revamps Wallet with virtual card
iT News
All rights reserved. Google revamps Wallet with virtual card. Tags. google, payments, nfc, banks, banking, visa, mastercard, american express. Related Articles. Security breach hits US card processors, banks · NAB no clearer on mobile payment strategy ...
See all stories on this topic »
Seattle residents will soon be able to pay for parking using their mobile phones
IntoMobile
According to a report in the Puget Sound Business Journal, the city is contracting with Canadian company PayByPhone to offer the new mobile payment service for its residents. Instead of fishing for coins to drop into a meter, residents who sign up for the ...
See all stories on this topic »

Blogs8 new results for "Mobile Payment"
Mobile Top-up and M-payment Adoption in China | Market Research ...
By admin
This twelve-page follow-up report to Mobile Payment in China: Bricks and Clicks Go Mobile? takes a closer look at mobile top-up, a service which allows users to pay their phone bills through the phone itself. We identify several factors ...
Healthcare Store Online
Partnerships need to be part of successful mobile payment strategy ...
By Jeremy Cowan
London, UK. August 1, 2012 – Near field communication (NFC), the promising mobile (m)-payment technology, has not created the revenue-generating opportunities the telecom industry expected. So says, a new report from analysts Frost ...
M2M Now
Do We Lead the Way In Mobile Payments? | CIOPakistan.com ...
By anoosha
GoPago.com, is an example of such a mobile payment platform, that has partnered with various retailers to offer them an online order placement and check-out extension. By logging into the mobile storefront of the business, orders can be ...
CIOPakistan.com - Business Technology...
iPhone 5 Rumoured To Offer NFC Chip Support | Mobile Phone Finder
By Todd
... on the new iPhone, and it will collate all your boarding passes, tickets, and other pertinent information into the smartphone, but if they put NFC in there as well, then it could really open up a whole new window for mobile payment technology.
Mobile Phone Finder
MBTA to expand pay-by-phone to commuter boats
By Susan
The MBTA will test the mobile payment application with about 300 commuter rail customers starting in September. "Before we do the roll out to every line, we will test it on a small set of lines – the Greenbush and Old Colony Line," said Joshua ...
TheTransitWire.com
Google Wallet Gets Some Big Changes; What's Being Impacted ...
By Stephen Schenck
With support for the mobile payment system coming from Sprint (for now, at least, though the situation could take a 180 if Sprint ever gets its own rumored payment system together) with popular phones like the Galaxy S III, more and more ...
Pocketnow
Google launches Google+ page and an exclusive blog for Android
By Swati
Google launches its Mobile Payment Platform 'Google Wallet' Google launches its Mobile Payment Platform 'Goo... Google launches Chrome for Android OS... Google sued by PayPal for the Mobile Wallet... Google Earth for Android 1.1 Offers ...
Buzzom
Timbuktu Chronicles: Zelalem Injera | Bread Factory
By Emeka Okafor
Web Trends Nigeria · Round-up of July Edition of #DevParapo - This month's edition of #DevParapo was about electronic and mobile payment systems with Nigeria Inter-Bank Settlement System Plc. Have a nice time reading ... 4 days ago ...
Timbuktu Chronicles

Web4 new results for "Mobile Payment"
The Freedom of Mobile Payment Processing
This are details the benefits of processing payments by mobile phone. These perks include retaining more customers, the affordability, and the convenience.
www.switchpay.com/freedom-of-mobile-payment-processing/
Creative Start-Ups Drive Mobile Payment Revolution | Globe Innovator
Payvision's recent Report explored the different m-payment methods, the great challenges stakeholders face to mitigate risk and to overcome regional ...
www.globeinnovator.com/2012/creative-start-ups.../4040/
ViVOtech denies shutdown rumors, confirms restructuring plans ...
NFC Mobile Payment Industry News ... News, 5 new results for NFC Mobile Payment ... T-Mobile Rumored to Launch Mobile Payment Service on August 20 ...
epaymentnews.blogspot.com/.../vivotech-denies-shutdown-ru...
Google making changes to mobile-payment ... - Theflyonthewall.com
l▻▻ Designed by market professionals, theflyonthewall.com has been reporting unbiased market intelligence to both professional and individual investors for ...
www.theflyonthewall.com/permalinks/entry.php/GOOG



ISIS reported to launch tests Aug. 20; Google Wallet goes to the cloud

News2 new results for NFC Mobile Payment
ISIS reported to launch tests Aug. 20; Google Wallet goes to the cloud
Google Wallet Logo
Google Wallet Logo (Photo credit: Wikipedia)
Computerworld

12, is expected to use Bluetooth 4.0 for making mobile payments instead of NFC, according to a number of analysts. The ISIS mobile payment system would be an alternative to Google Wallet, which first appeared 11 months ago and runs on six phones from ...


See all stories on this topic »
Apple Set to Buy AuthenTec - Analyst Blog
NASDAQ
Under the terms of the agreement, Apple will pay another $20.0 million to acquire certain non-exclusive licenses of AuthenTec. The iPhone maker also has the option to pay around $115.0 ... We believe that the acquisition will provide Apple a ...

See all stories on this topic »



Wednesday, August 1, 2012

Analyst: Biometrics Will Become a "Must Have" on All Mobile Devices

Blogs3 new results for NFC Mobile Payment
Mobile Commerce Market and Forecast 2012 – 2017 | Market ...
By admin
The question is: will the NFC market respond to these alternatives and get organized, or will it continue on its own path? Demand for these services and related mobile money services, such as banking, domestic person-to-person payments, ...
Healthcare Store Online
In Flex We Trust » (Video) Tech Talk Rumor: What Does Siri Know ...
By Shotta Dru
And will it have new hardware, like an LTE radio for connecting to high-speed networks and an NFC chip for mobile payments? Or those cases that are supposedly made for the iPhone 5? Apple, of course, has remained mum on any and all ...
In Flex We Trust
Analyst: Biometrics Will Become a "Must Have" on All Mobile Devices
By Jose Ricardo
Whether it is for protecting the physical device or for providing strong authentication and identity verification for a remote service, such as NFC-based mobile payments, mobile phone-based biometrics can offer a wide variety of solutions – the ...
Tech 4 Business



Visa Celebrates Michael Phelps as Most Decorated Olympian of All-Time with Real-Time Congratulatory Commercial

Advertisement
IMI creates and builds "breaking news" websites around industry specific keywords.  Our proprietary "NewsBots" scour the web for specific keywords and once a breaking news story surrounding the keyword is found, it is sent to our server and edited into a news posting containing a Title, Photo, author credit, 25 word blurb and a direct link to the original content provider. The process is well served by the search engines and works as a traffic magnet.  We will provide "targeted traffic" to any vertical, any niche, any subject.  Click here to request more info

Live Site Examples: Near Field Communication News or take a look at the "Breaking News Site" we built for the NBA's Miami Heat. NBANewsHeat.com   Visit  Breaking News = Traffic to learn how your industry related breaking news website can be a "targeted" traffic magnet.

Visa Celebrates Michael Phelps as Most Decorated Olympian of All-Time with Real-Time Congratulatory Commercial

Select U.S. Fans Who Joined “Global Cheer” Appear in Special Edition Go World Commercial on NBC During Olympic Games Programming


SAN FRANCISCO--()--Visa, a Worldwide Olympic Games Sponsor for 26 years, introduced a new congratulatory advertisement celebrating 19-time Olympic medalist Michael Phelps as the most decorated Olympian of all-time. With last night’s gold medal win in the 4 x 200m freestyle relay, Phelps upped his Olympic medal total to 19, besting the record of 18 career medals set by Russian gymnast Larissa Latynina in 1964. During the London 2012 Olympic Games, Phelps also captured a silver medal in the 4x100m freestyle relay and a silver medal in the 200m butterfly. To view the commercial, click here.
“We’ve collected tens of millions of cheers from fans around the world for Team Visa athletes, including Michael, and are thrilled to feature some of these expressions of support to underscore the impact that cheering has on inspiring athletes to achieve unforgettable performances at the Olympic Games.”
For the first time, Visa used actual video and photo cheers from fans in the U.S. that were submitted via Visa’s Cheer application on Facebook to star alongside Michael Phelps. The spot, entitled “Congratulations Michael,” aired on NBC following his win in the 4 x 200m freestyle relay. Leading up to the London 2012 Olympic Games, Phelps appeared in a number of Go World commercials including The Difference and 100th of a Second and was featured in more than 40 countries as part of Visa’s global marketing campaign.
“We’re honored to celebrate Michael Phelps as the most decorated Olympian of all-time and his memorable and historic Olympic Games performance through our real-time Go World congratulatory commercial,” said Kevin Burke, global CMO of core products for Visa, Inc. “We’ve collected tens of millions of cheers from fans around the world for Team Visa athletes, including Michael, and are thrilled to feature some of these expressions of support to underscore the impact that cheering has on inspiring athletes to achieve unforgettable performances at the Olympic Games.”
Visa’s first congratulatory commercial featuring Michael Phelps aired on NBC following his win in the 200 meter butterfly at the Beijing 2008 Olympic Games. Visa continued this tradition during the Vancouver 2010 Olympic Winter Games, releasing special-edition ads in the U.S. for Julia Mancuso (skiing), Johnny Spillane (skiing), Angela Ruggiero (ice hockey) and Seth Wescott (snowboarding) and in Canada, celebrating the country’s first gold medal on home soil (“First Gold”).
Visa’s Olympic Games-themed integrated marketing campaign for the London 2012 Olympic and Paralympic Games – Go World – is the largest global and most social initiative in company history. The campaign, activated in more than 70 countries, utilizes popular social media platforms, along with television and digital advertising and usage promotions, to turn the passion of fans into online cheers that will help inspire athletes worldwide as they compete at the Games.
The campaign has generated more than 38 million cheers leading up to the London 2012 Olympic Games. Visa reports that the top seven most-active “cheering” countries are the United States, Brazil, Russia, Canada, Mexico, Japan, and Australia.
Fans can continue to voice their support for Phelps, as well as other Team Visa athletes still competing at the London 2012 Olympic Games in the form of cheers by submitting photos, videos and text cheers, performing one-click cheers, and viewing content through Visa’s Cheer application on Facebook and by viewing and sharing video content on YouTube.
Michael Phelps is a longstanding member of Visa’s global athlete support program, Team Visa. For the London 2012 Olympic Games, Visa is supporting 69 Olympic and Paralympic hopefuls (Team Visa London) along with national teams from more than 30 countries, providing financial support and valuable marketing exposure to assist them in pursuit of their Olympic and Paralympic goals.
To learn more about Go World or to view and download images, videos and other assets, visit www.visa.com/olympicmediakit.
About Visa Inc.
Visa (NYSE:V) is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks--VisaNet--that is capable of handling more than 20,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

MasterCard Incorporated Reports Q2 2012 Financial Results

Advertisement
IMI creates and builds "breaking news" websites around industry specific keywords.  Our proprietary "NewsBots" scour the web for specific keywords and once a breaking news story surrounding the keyword is found, it is sent to our server and edited into a news posting containing a Title, Photo, author credit, 25 word blurb and a direct link to the original content provider. The process is well served by the search engines and works as a traffic magnet.  We will provide "targeted traffic" to any vertical, any niche, any subject.  Click here to request more info

Live Site Examples: Near Field Communication News or take a look at the "Breaking News Site" we built for the NBA's Miami Heat. NBANewsHeat.com   Visit  Breaking News = Traffic to learn how your industry related breaking news website can be a "targeted" traffic magnet.

MasterCard Incorporated Reports Second-Quarter 2012 Financial Results

  • Net income of $713 million, or $5.65 per diluted share, excluding a special item
  • Net income of $700 million, or $5.55 per diluted share, including a special item
  • Net revenue increase of 9%, to $1.8 billion
  • Gross dollar volume up 15% and purchase volume up 13%
PURCHASE, N.Y.--()--MasterCard Incorporated (NYSE: MA) today announced financial results for the second quarter of 2012. Excluding a special item, the company reported net income of $713 million, up 17%, and earnings per diluted share of $5.65, up 19%, in each case versus the year-ago period. Including the special item, an incremental $13 million after-tax charge related to the U.S. merchant litigations, the company reported net income of $700 million, or $5.55 per diluted share. The company’s total operating expenses, operating income, net income and earnings per share, excluding the special item, are non-GAAP financial measures that are reconciled to their most directly comparable GAAP measures in the accompanying financial tables.
“Though economic uncertainties continued to persist, we experienced solid volume and processed transaction growth in all regions as we are focused on driving our global business to expand the reach of electronic payments”
Net revenue for the second quarter of 2012 was $1.8 billion, a 9% increase versus the same period in 2011. On a constant currency basis, net revenue increased 13% compared to the same period in 2011. Net revenue growth was driven by the impact of the following:
  • A 15% increase in gross dollar volume on a local currency basis, to $890 billion;
  • An increase in processed transactions of 29%, to 8.5 billion; and
  • An increase in cross-border volumes of 17%.
These factors were partially offset by an increase in rebates and incentives, primarily due to new and renewed agreements and increased volumes.
Worldwide purchase volume during the quarter was up 13% on a local currency basis versus the second quarter of 2011, to $661 billion. As of June 30, 2012, the company’s customers had issued 1.8 billion MasterCard and Maestro-branded cards.
“Though economic uncertainties continued to persist, we experienced solid volume and processed transaction growth in all regions as we are focused on driving our global business to expand the reach of electronic payments,” said Ajay Banga, MasterCard president and CEO. “We are executing on strategic partnerships as demonstrated by our recent announcement with Deutsche Telekom and the completion of AliPay’s integration with the DataCash payment platform, which will expand AliPay’s reach to online retailers outside of China. We also continue to work with government entities around the world, like the South African Social Security Agency, to help them implement more efficient and secure ways to deliver social benefits and to increase transparency and financial inclusion.”
Based on the company’s decision to enter into settlement agreements in the U.S. merchant litigations, the company recorded a $20 million pre-tax charge, or $13 million on an after-tax basis, in the second quarter of 2012. This special item is incremental to the charge taken in the fourth quarter of 2011 to reflect the company’s total financial portion of $790 million in the settlement of these cases.
Excluding the special item, total operating expenses increased 6%, to $826 million in the second quarter of 2012. On a constant currency basis, operating expenses increased 9%. The increase in total operating expenses was primarily driven by higher personnel costs related to strategic initiatives. Including the special item, total operating expenses for the second quarter of 2012 increased 8% versus the year-ago period, to $846 million.
Excluding the special item, operating income for the second quarter of 2012 increased 12% over the year-ago period and the company delivered an operating margin of 54.6%.
MasterCard reported other expense of $1 million in the second quarter of 2012 versus other income of $7 million in the second quarter of 2011. The change was primarily driven by increased expenses from investments in joint ventures.
Including the special item, the effective tax rate was 28.0% in the second quarter of 2012, versus a rate of 31.8% in the comparable period in 2011. The decrease was primarily due to discrete benefits relating to additional export incentives and the conclusion of tax examinations in certain jurisdictions. A more favorable geographic mix of earnings also contributed to the decrease.
During the second quarter of 2012, MasterCard repurchased approximately 1.6 million shares of Class A common stock at a cost of $671 million. Quarter-to-date through July 26, the company repurchased an additional 132,250 shares at a cost of approximately $57 million, with $1.4 billion remaining under the most recent $1.5 billion repurchase program authorization.
Year-to-Date 2012 Results
For the six months ended June 30, 2012, MasterCard reported net income of $1.4 billion, or $11.01 per diluted share, excluding the special item from the second quarter of 2012. Including the special item, diluted earnings per share was $10.91.
Net revenue for the six months ended June 30, 2012 was $3.6 billion, an increase of 13% versus the same period in 2011, or 16% on a constant currency basis. Gross dollar volume growth of 17%, transaction processing growth of 29% and cross-border volume growth of 18% contributed to the net revenue growth in the year-to-date period. These factors were partially offset by an increase in rebates and incentives, primarily due to new and renewed customer agreements and increased volumes.
Excluding the special item, total operating expenses increased 9%, to $1.6 billion, for the six months ended June 30, 2012, primarily due to higher personnel costs related to strategic initiatives. Excluding currency fluctuations, total operating expenses increased 12%. Including the special item, total operating expenses increased 11%.
Excluding the special item, operating income increased 16% for the first half of 2012 versus the first half of 2011, delivering an operating margin of 55.7%.
MasterCard reported total other expense of $2 million for the six months ended June 30, 2012, versus other income of $7 million in the same period last year. This change was primarily driven by increased expenses from investments in joint ventures.
MasterCard’s effective tax rate was 30.0% in the six months ended June 30, 2012, including and excluding the special item, versus a rate of 32.3% in the comparable period in 2011. The decrease was primarily due to discrete benefits relating to additional export incentives and the conclusion of tax examinations in certain jurisdictions. A more favorable geographic mix of earnings also contributed to the decrease.
Second-Quarter Financial Results Conference Call Details
At 9:00 a.m. ET today, the company will host a conference call to discuss its second-quarter results. The dial-in information for this call is 866-383-8008 (within the U.S.) and 617-597-5341 (outside the U.S.) and the passcode is 96010404. A replay of the call will be available for one week following the meeting. The replay can be accessed by dialing 888-286-8010 (within the U.S.) and 617-801-6888 (outside the U.S.) and using passcode 11595402.
The live call and the replay, along with supporting materials, can also be accessed through the Investor Relations section of the company’s website at mastercard.com.
About MasterCard Incorporated
MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNewsjoin the discussion on the Cashless Conversations Blog and subscribe for the latest news.

Disqus for ePayment News