The information you need to start your day, from PaymentsSource and around the Web:
Target's mobile AR move: Target is adding a feature to its mobile website that allows consumers to use their smartphone camera to see how furniture will look in their room.

Visa's strong quarter: Visa reported an 11% jump in net income to $2.14 billion in the fiscal fourth quarter, up from $1.93 billion from the prior year. Profits for the full fiscal year 2017 grew 12%, to $6.7 billion, from about $6 billion. Revenue for the quarter, which ended Sept. 30, was $4.86 billion, topping analysts' expectations of $4.62 billion, and profits per share were $0.90, also higher than analysts' expectations of $0.85 per share. CEO Alfred Kelly reported strong growth in payments volume, cross-border volume and processed transactions—which were bolstered by
Fitbit Pay steps into the U.K.: Startup bank
Monzo goes mobile: Fresh off the introduction of a new card account,
Quickbooks gets on the faster payments train:
From the Web
BBC News | Tue Oct 24, 2017 - Interest rates on credit cards are at their highest for at least 10 years, according to the website Moneyfacts, despite low base rates. The average rate on credit cards, including store cards and so-called "credit repair" cards, is 23% a year. Consumers are being warned not to rely on interest-free introductory periods, as eventually they may have to pay the full advertised rate. Among the most expensive cards is HSBC's, which charges 29.9% a year. By contrast Lloyds Bank charges 5.7%, and Tesco 5.9%. Moneyfacts said the 23% average figure was the highest since their records began in 2006. Lenders charge more for credit cards because it is unsecured lending, which makes it more risky for them than a mortgage or car loan.
TechCrunch | Tue Oct 24, 2017 - A lot of startups have been raising money for credit cards and other financing businesses lately. Now Jiko has debit card technology that has convinced Upfront Ventures, Radical Impact, Social Capital and others to invest $7.7 million in a Series A. The Oakland, Calif.-based business markets itself as a secure place to save your money, while also offering at least .5 percent cash back on debit transactions. Jiko calls itself a “personal bank,” although it operates differently than a traditional bank account. It’s not an FDIC-insured bank. Instead, money from Jiko accounts is invested into U.S. Treasuries, which co-founder and CEO Stephane Lintner hopes will result in the highest yield.
CNBC | Tue Oct 24, 2017 - The head of payment processing firm Mastercard has told an audience in Saudi Arabia that data could be as effective as oil as a means of generating wealth. Ajay Banga, president and CEO of MasterCard, was speaking at the Future Investment Initiative in Riyadh, on a panel debating how business and society is coping with an explosion of digital information. "I believe that data is the new oil. I am saying it in this country because I believe that the prosperity that oil brought in the last 50 years, data will bring in the next 50, 100 years if you use it the right way," Banga said. He added that data had the additional advantage of not being a finite resource. Banga told the audience that Mastercard was using data to inform its clients how they can improve top-line business.
More from PaymentsSource
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Being an immigrant, Kalpesh Kapadia understood what it was like to come into the U.S. with no access to credit and no financial history in this country.
If you’re an omnichannel merchant, it’s critical to analyze fraud separately across your brick and mortar, online and mobile channels, in order to focus your information security resources where they are most needed, writes Michael Lynch, chief strategy officer for InAuth.