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Financial Stocks Updates! Visa Inc (V), U.S. Bancorp (NYSE:USB)

Shares of Visa Inc (NYSE:V) ended Tuesday session in red amid volatile trading. The shares closed down -0.03 points or -0.04% at $82.48 with 6.47 million shares getting traded. Post opening the session at $82.97, the shares hit an intraday low of $82.32 and an intraday high of $83.23 and the price vacillated in this range throughout the day. The company has a market cap of $195.76 billion and the numbers of outstanding shares have been calculated to be 1.89 billion shares.

Visa Inc (V) on Aug. 23, 2016 CyberSource, a Visa Inc. company (NYSE:V), and one of the world’s largest providers of eCommerce payment management services, announced its partnership with Tiket.com, one of Indonesia’s largest Online Travel Agents (OTA). Through the use of CyberSource’s payment and fraud management solutions, Tiket.com has managed to maintain a fraud rate below the industry average, even as it doubled its revenue in the past year.

Hotel bookings made through OTAs in Indonesia are projected to grow by IDR2 trillion (USD 149 million) annually, due to a consistent 200-300 percent increase in online travel bookings[1]. Taking advantage of the burgeoning eCommerce activity, Tiket.com plans to expand into new territories, both locally and internationally, in 2016. CyberSource’s solutions enable Tiket.com to process web and mobile payments securely, allowing Tiket.com to manage multiple customer channels via a single platform.

The travel industry typically involves cross-border transactions which face more exposure to potential fraudulent transactions. Tiket.com leverages CyberSource Decision Manager to keep fraud in check even as it grows. In fact, Tiket.com has been able to retain customer loyalty and grow its customer base without a significant increase in customer complaints. CyberSource Decision Manager leverages the World’s Largest Fraud Detection Radar to automatically screen more inbound orders faster, more accurately, and with less manual intervention. As a result, Tiket.com has been able to elevate customer experience with a secure and frictionless payment process, which in turn expands the company’s reach. This is clearly demonstrated in the company’s annual revenues doubling year-on-year since 2011.

With the company more than doubling in revenue annually, Tiket.com is the most extensive online booking platform in Indonesia, covering both the OTA and entertainment industries. Currently, Tiket.com employs more than 250 people across three offices in Indonesia, and partners 30 regional and domestic airlines, as well as more than 180,000 hotels around the world.

“With customer retention a critical part of our business growth, ensuring a frictionless payment journey enables us to elevate our customers’ booking experience, reducing the chance of chargebacks. Even as we grow our customer base, we are heartened that our fraud rates remain among the lowest within Indonesia’s OTA industry. As a globally trusted brand, CyberSource’s fraud management and payment solutions have undoubtedly been critical to our company’s success as they afford our customers with peace of mind,” said Gaery Undarsa, Chief Communication Officer, Tiket.com.

Shares of U.S. Bancorp (NYSE:USB) ended Tuesday session in green amid volatile trading. The shares closed up +0.16 points or 0.37% at $43.02 with 7.09 million shares getting traded. Post opening the session at $43.18, the shares hit an intraday low of $42.82 and an intraday high of $43.25 and the price vacillated in this range throughout the day. The company has a 1.72 billion shares.

On September 19, 2016 The Board of Directors of U.S. Bancorp (USB) has approved a 9.8 percent increase in the dividend rate on U.S. Bancorp common stock to $1.12 on an annualized basis, or $0.28 on a quarterly basis, payable October 17, 2016, to stockholders of record at the close of business on September 30, 2016.


About Mary Jones

Mary Jones has been a columnist on financial. Because of having financial background, Mary Jones has been well known in his community regarding writing blogs on financial for many financial news sites and now it is our honor that Mary Jones started writing financial news for us recently.

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