EBay's fourth quarter results gives retail stores a thrashing

Hot on the heels of the news that HMV and Jessops are disappearing from the high street and with Marks & Spencer still reeling from their disastrous performance in the run up to the Christmas period, EBay has announced its fourth quarter results which beat analysts' forecasts, boosted by a dramatic rise in the use of mobile phones to access its online auction house and PayPal service.

 

Revenue for the fourth quarter was up 18% to $4 billion, and for the full year increased 21% to $14.1 billion. Net income on a Gaap basis was $751 million for the quarter and $2.6 billion for the year.

John Donahoe, CEO, eBay, says the results are down in large part to the rise of mobile, which "continues to rewrite the commerce playbook".

PayPal is using mobile as a way of bridging the gap between its traditional online domain and the high-street. The company has signed up 23 large US retailers to its technology, meaning that they can accept payment by PayPal at the check-out. The company also affirms that its deal with Discover to issue PayPal cards over the card processor's seven-million strong retailer network is firmly on track.

The unit smashed predictions to process $14 billion in mobile payments for customers last year, 250% more than in 2011. EBay's mobile service saw $13 billion in volume, more than double the previous year. For 2013, both businesses are forecasting volumes of $20 billion.

The figures are in accordance with the results of the IMRG Capgemini e-Retail Sales Index, which show that UK sales through mobile devices (including tablets) were up 304% on 2011. Overall, the online retail market grew by 14% in 2012 to £78 billion and is expected to increase another 12% this year, to £87 billion.

 

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Movers and Shakers in card and payment industry w/c Jamuary 14th 2013

 

• Diderik Bruggink is appointed BD Northern Europe SafetyPay Europe

• Edward Ho COO named COO of Fundtech

Transaction banking vendor Fundtech has appointed Misys veteran Edward Ho as president and COO.

 

Ho is replacing Michael Sgroe who is leaving after twelve years. Ho will also join the board and be responsible for global operations and will report to CEO Reuven BenMenachem.

Ho had previously been at Misys for nine years , where he acted as EVP and general manager of the capital markets division.

BenMenachem commented: "His proven leadership building global technology companies, and driving operational excellence, will be a welcome addition to our leadership team as we position ourselves to achieve Fundtech's strategic business and growth objectives over both the short- and long-term."

• Jacob Koch becomes Treasury Manager, Corporate Finance, for Nets Denmark A/S

• Rani Gu will lead HSBC's payments business in China

 

HSBC's Global Payments and Cash Management (PCM) business will be lead by Rani Gu.

Based in Shanghai, Rani will report locally to Kee Joo Wong, Head of PCM in China.

In her role, Rani will have responsibility for the delivery of Cash Management solutions and services to international financial institutions in China, thereby driving an integral part of HSBC's growth strategy.

John Laurens, Head of Global Payments and Cash Management, Asia Pacific, stated, "China is a major and strategically important market for HSBC. Our business with Bank and Non-Bank Financial Institutions sectors has grown particularly strongly over the last few years, with overseas institutional clients entering the Chinese market, and Chinese clients expanding internationally. In leading our institutional cash management business in China, Rani will her bring extensive local market knowledge and experience in structuring domestic and cross-border RMB solutions for clients. We are therefore delighted to have Rani rejoin HSBC and reinforce our position as the leading international bank in China."

Citi CEO appoints new management team 

Citi Chief Executive Officer Michael Corbat announced the roles and responsibilities of the members of his management team and appointed Jamie Forese and Manuel Medina-Mora as Co-Presidents of Citi.

 

Mr. Forese will be responsible for all of Citi's Institutional businesses, and Mr. Medina-Mora will continue to oversee Global Consumer Banking and Citi's franchise in Mexico. The Operations & Technology functions supporting the Institutional and Consumer businesses will now directly report to Mr. Forese and Mr. Medina-Mora, respectively, to align the functions better with the priorities of ach business and improve efficiency.

 

Mr. Corbat also announced that Jim Cowles will become Chief Executive Officer of Citi's Europe, Middle East and Africa (EMEA) region. Brian Leach has been appointed Head of Franchise Risk and Strategy and will be responsible for Citi's Audit, Compliance, Corporate Policy and Strategy functions in addition to Risk Management. Brad Hu, currently Head of Risk for the Asia Pacific region, will become Citi's Chief Risk Officer and will report to Mr. Leach.

 

Mr. Corbat said: "Citi is fortunate to have very strong leaders with the skills and experience I will rely on as we navigate the challenges and opportunities ahead. While the responsibilities of some members of my team are changing, this leadership team and management structure will ensure continuity as we carry out our goals of achieving operational excellence and delivering results to our clients and stakeholders.

 

"Jamie and Manuel have both spent their entire careers at Citi and its predecessor companies, and they exemplify the best of Citi. Since joining Citi five years ago, Brian has demonstrated his superior risk management abilities during one of the most challenging environments this company has encountered. And Jim is a Citi veteran who has spent much of his career in the region and has demonstrated his leadership abilities in a variety of senior positions," Mr. Corbat concluded.

 

www.cardandpaymentjobs.com would like to wish all the new jobholders every success in their new roles. If you are interested in jobs in the Card and Payment Industry, go to www.cardandpaymentjobs.com

 

 

Latest hot jobs include:

• Sales Director
• Solutions Delivery Director 
• Head of European Partner Relationship Management
• Infrastructure Security Engineer
• Partnerships Manager 

Just click on the job to view and apply.

 

 

www.cardandpaymentjobs.com for the latest card and payment industry jobs. 

 

Amex cuts 5400 jobs globally

American Express has detailed plans to cut over 5000 jobs, predominantly within the giant's travel business. This is mainly as a result of cost cutting and restructuring in order to deal with a "digital revolution".

 

Amex says that some of the losses will be offset, meaning that staffing levels will be between four per cent and six per cent down on the current total of 63,500 at the end of the year .

The global business travel unit will take the brunt of the losses as Amex seeks to respond to an environment in which customers increasingly use online channels and automated servicing tools.

The digitisation of services is also cited as a reason to continue the "reconfiguration of cardmember servicing and collections as we drive efficiency through our global scale and as more customers use online and mobile channels instead of paper and telephone".

Job losses will cut across all levels of seniority, businesses and staff groups and be spread proportionally between the US and international markets.

Amex stated that the move will cost around $287 million after tax in a fourth quarter restructuring charge.

 

In addition, the firm will take another $307 million after tax hit thanks to US cardholders redeeming rewards and various customer reimbursements.

After these charges, net income for the quarter was $637 million, or $0.56 per share, compared to $1.2 billion, or $1.01 per share the previous year, Fourth quarter consolidated total revenues net of interest expense were $8.1 billion, up five per cent from $7.7 billion a year ago.

Kenneth Chenault, chairman and CEO, Amex, says: "Against the backdrop of an uneven economic recovery, these restructuring initiatives are designed to make American Express more nimble, more efficient and more effective in using our resources to drive growth."

 

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Enterprising companies resort to video for recruitment egde

An increasing number of companies are using video to engage and attract top candidates to their talent pool. Barclays produced this video as a way of enticing top talent

 

What do you think ?

 

For the latest jobs in the card and payment industry, go to http://www.cardandpaymentjobs.com

Networking Evening - Banking Fraud Conference 2013

www.cardandpaymentjobs.com is pleased to be able to inform our followers of a Networking Evening - Banking Fraud Conference 2013 taking place in London on March 26th. For more details on the event and how to register, read on:                         

Grange Hotel - Tower Bridge, 45 Prescot Street London E1 8GP

6pm to 9pm Tuesday 26th March 2013 - £36 per head

Join us for the networking evening at the Fraud Conference - banking and payments.

This offers a great chance to meet up with industry contacts, delegates, speakers, sponsors and exhibitors at this year's conference.

The networking evening will feature:

* Canapés and drinks
* Networking with international audience, fraud, cards and payments experts
* Conference speakers, exhibitors and sponsors
* High quality venue in City of London

If you can't make the full two days for the conference or three including the training seminar, you can meet the attendees and make useful contacts in this networking evening. Tickets cost just £36 inc VAT and booking is via the organiser at:  www.dtconferences.co.uk/events/networking

 

 “Strategic decisions for fraud and risk management.”

The Fraud Conference 2013 takes place in London on Tuesday 26^th and Wednesday 27^th March 2013.

Over the last few years, this conference has grown as an event and its agenda has examined the key trends and fraud and risk issues influencing card fraud and mobile commerce. It’s looked at the new channels and products and we’ve challenged the orthodox ways of measuring and managing fraud risk. Conference attendees have heard about new challenges, opportunities and new solutions.

For full details of the conference and the training workshop on the preceding Monday, the agenda and speaker profiles go to: www.fraudconference.co.uk

 

Conference organised by: DT Conferences & Events Ltd

 

 

Movers and Shakers in the Card and Payment industry w/c 10/12/12

Citi consumer marketing and Internet chief joins e-commerce site

Citigroup's global consumer chief marketing and Internet officer Michelle Peluso has left Citi to become CEO of online retailer Gilt.

Peluso has overseen Citi’s global consumer bank's marketing and digital activities, including all of its online and mobile banking channels. She has also led all social media initiatives.

Peluso had spent six years as CEO of Travelocity prior to joining Citi in 2009. She will be replacing Gilt founder Kevin Ryan as Gilt CEO from February 2013. Ryan moves on to take on the role of chairman.

Glen Mahatlani appointed VP, acceptance development, South Africa

MasterCard Worldwide has appointed Glen Mahatlani as vice president of Acceptance Development for South Africa.

Based in Johannesburg, Mahatlani is responsible for growing acceptance of MasterCard products in South Africa, specifically enabling acceptance at point of sale and ATMs. He is also tasked with driving the adoption and acceptance of new technologies and payment innovations such as mobile and contactless payment platforms.

"We are thrilled to welcome Glen to MasterCard South Africa as we follow through on our commitment to invest in expertise, resources and know-how in the South African market," says Philip Panaino, divisional president for South Africa, MasterCard Worldwide.

"Glen's understanding of the market and his passion for the solutions we provide are substantial assets for MasterCard's business in South Africa. We are excited that he has joined MasterCard."

Mahatlani commented "I see this as an opportunity to positively influence and impact financial empowerment in South Africa, and even Africa as a whole. I believe that MasterCard's vision of creating a world beyond cash and the payment solutions we provide enable financial inclusion and bring people into the formal economy, and I am very excited about being a part of that." 

 

Angelo Bertini becomes MD of new BPC Banking Technologies based in UAE

BPC Banking Technologies, the provider of Open System e-payment solutions for the global financial industry, has announced the appointment of Angelo Bertini as Managing Director of BPC's operations in the Middle East and North Africa, where he will be responsible for developing and strengthening the company's growing business.

"BPC's SmartVista solution, with its unique combination of comprehensive functionality, innovative use of the latest technology and rock-solid reliability is ideally suited to the needs of the local banking community. I am excited to be joining the team and I am certain that SmartVista can help leading organizations in the region transform their payments businesses.. Across the world BPC has a proven track record in supporting organizations of all sizes, helping them to bring new products to market in days, while dramatically lowering total cost of ownership. Here in the Middle East I see great potential for our market-leading solution - SmartVista as a scalable, secure and proven solution. I look forward to working with the region's leading financial institutions." added Angelo Bertini, MD BPC Banking Technologies Middle East and North Africa.

"We are delighted to welcome Angelo Bertini to our BPC team. His deep knowledge and vast experience in the region's payment market will be an important and invaluable input to our continued growth in the region. His relentless focus on customer success and his visionary approach to the use of technology to solve complex business issues are a perfect match with BPC's culture and values." said Anatoly Loginov, Chairman, BPC Group.

Global Platform announces board of directors for 2013

GlobalPlatform, the organization which standardizes the management of applications on secure chip technology, has announced its Board of Directors for fiscal year 2013, following annual elections for six of the eleven Board seats.

The appointment of a new Mobile Task Force Chair and Strategic Director has also been announced as well as confirming individual members to serve as Board Officers for a one-year term.

 

·         The following appointments have been announced:
Marc Kekicheff - Senior Business Leader of Chip Innovation at Visa Inc. retains his position as Chairman for the third consecutive year.

·         GlobalPlatform Vice-Chairman, Uwe Wittig - Group Vice President, Head of Business Line Payment, Transit and Authentication at Giesecke & Devrient, and

·         GlobalPlatform's Secretary / Treasurer, Yves Moulart - Director of Development and Innovation within STMicroelectronics' Secure MCUs Division, Secure Software Solutions

Six Board seats were open for election. In addition to Marc Kekicheff and Uwe Witting, each of the following individuals were elected to serve a two year term:
• Janne Uusilehto - Director / Head of Product Security - Nokia
• Eikazu Niwano - Producer in the R&D Planning Department - NTT Corporation
• Andreas Muehlberger - Senior Director Engineering - NXP Semiconductors Business Unit Identification
• Jeppe Dorff - Head of Transaction Services - Rogers Communication

Jeppe Dorff was also appointed as the new Chair of GlobalPlatform's Mobile Task Force, following the announcement that Marc Kekicheff is stepping down after successfully leading the task force for the previous six years. As Chair of the task force, Jeppe will oversee the group's efforts to understand the business and technical requirements of the secure mobile services ecosystem to ensure an agreed and workable application management infrastructure is established. This includes work to advance the secure element, trusted execution environment and mobile messaging framework.

The GlobalPlatform Board of Directors also appoints Strategic Directors from the membership to provide it with additional advice and expertise on issues within particular markets. Jerome Becquart, Vice President & General Manaanager Identity Assurance at HID Global, which is a Full Member of GlobalPlatform, has taken up the voluntary consultative position with immediate effect, to provide guidance on the identity market and lead the activities of the Government Task Force.

Congratulations to all the new starters and all the best in their new roles from all at www.cardandpaymentjobs.com.

To view the latest jobs in the card andpayment industry, go to www.cardandpaymentjobs.com

 

 

 

 

 

MasterCard’s King says Cash is not….

Marion King, MasterCard’s president for the UK and Ireland spoke to Marketing Week recently about the possibility of a cashless society. She stated that the emergence of innovative payments technologies will eventually replace cash.  “There are different levels of take-up across the globe but I think that cash will increasingly be replaced, largely because of technological innovations and digital currencies via the smartphone.”, she said. She argued that, despite a global economic crisis, there is a steady rise in MasterCard’s volume of transactions, offline and online which she sees as a true indicator of a move away from cash.

She underlined MasterCard’s confidence in mobile payments, emphasising the number of investments made in this payment method. MasterCard’s partnership with EE to launch iZettle in the UK marks the shift to cashless payments for small retailers, KIng explained, “Where historically it has been costly and prohibitive for these retailers to accept cards, this innovation allows them to accept card payment wherever they are by plugging in a dongle into their smartphone.”

Security is evoked as one of the many benefits of the change towards cashless payment, but data seems to be a key advantage of the move away from cash. “Card transactions provide data, and we are able to use that to help merchants and organisations plan and understand buying patterns, and whether customers are moving more towards e-commerce and if so under what circumstances. If a customer uses cash, there isn’t that data.”, Marion King said.

The MasterCard president added the important role of the ease of use in the spread of card and mobile payments and urges small retailers who have taken a cash-only approach in the past to consider the new option to boost their business.

It looks though, yet again, that reports of cash’s death have been greatly exaggerated as for the foreseeable future at least, cash remains the favoured means of payment particularly  for lower value transaction. Added to this is the fact that, consumers prefer the anonymity conferred by cash and there will always be a sector of the population who remain resentful of  the data crunching retailers that follow purchasing behaviour.

From a retailer perspective, particularly, the smaller ones, they struggle with the higher transaction fees (sometimes passed onto the consumer).

For the latest jobs in the card and payment industry, go to http://www.cardandpaymentjobs.com