Payment card issuer Retail Decisions has reported first half results were "encouraging" as it delivered business trading just ahead of industry expectations.
In the card issuing arena, the company’s Australian fuel card business has benefited from high fuel prices experienced in the first half of the year, which are around 20% up on the corresponding period last year. In addition, the card base in Australia has continued to grow and is around 4% up on the same period last year.
Furthermore, the two card issuing acquisitions that were made at the end of 2005 have performed well, the company said in a statement. Both are slightly ahead of the internal expectations, and both are demonstrating double digit profit growth compared with the same period last year, before they were acquired by RD.
The fraud prevention & payment processing businesses have also done well overall in the first half of the year, with profit expected to be slightly up on the same period last year.
The European business has had a very strong first half, with particular success in the mobile telephony sector where new contracts and contract extensions have been signed with 3, O2 and Virgin Mobile.
Meanwhile, card-not-present transaction levels processed by RD are up 27% on the same period last year.