28.02.2024 - EVERTEC, Inc. (NYSE: EVTC) (“Evertec” or the “Company”) today announced results for the fourth quarter and full year ended December 31, 2023. Fourth Quarter 2023 Highlights and Recent Highlights Revenue increased 20% to $194.6 million GAAP Net .
According to banks, the value of transactions in these cards is high, but since they do not attract the same level of fees (merchant discount rate) as retail sales, their card earnings will not be significantly hit.
Macquarie Capital stated in a report that the Reserve Bank of India s (RBI) directive to prohibit card networks from facilitating non-bank intermediaries in issuing business cards could reduce card spending volume. However, it won t significantly impact profits in the card business. The RBI cited violations including payments to unregistered entities on card networks.
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