All articles tagged with #payment technology
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Visa reported better-than-expected quarterly results and forecasted low-double-digit revenue growth for the new fiscal year, exceeding some investors' fears. However, analysts had mixed opinions on the outlook, with some seeing it as a relief and others concerned that the company set the bar too high. Visa's shares dipped about 1% in after-hours trading. The company's CFO described the outlook as "balanced" and highlighted the healthy and stable fundamentals of Visa's business. Visa saw increases in payment volume and processed transactions, but experienced a sequential drop in US debit and credit volumes in October due to factors like a "days-mix" impact and falling gas prices. Visa's net income for the fiscal fourth quarter rose to $4.7 billion, with adjusted earnings per share of $2.33.
Block Inc. raised its profit forecast for the year and reported positive adjusted operating income for the full year, but its stock fell in after-hours trading due to a July slowdown in a key metric. The company's net income for the June quarter was $123 million, compared to a loss of $208 million in the same period last year. Block also exceeded expectations on gross profit, but indicated a deceleration in July. The company highlighted the strength of its Cash App business, which had 54 million monthly transacting actives in June.
Amazon is expanding its Amazon One palm recognition service to over 400 Whole Foods locations in the US, with plans to offer the service at all 500-plus Whole Foods Market locations by the end of the year. Customers can link their palm print with a stored credit card and simply hover their palm over an Amazon One device to pay, eliminating the need for a wallet or phone. The service is already available in select states and offers convenience for shoppers.