Fiserv launched CardValet mobile card management application allowing financial institutions to improve cardholder engagement and reduce fraud losses. In doing so it allows cardholders to monitor and control how, when and where their cards are used. CardValet from Fiserv is a turnkey mobile application that can be downloaded from the Apple App Store or Google Play Store. Using CardValet, cardholders can turn their card off when their card is not in use, establish spending limits to allow transactions up to a certain dollar value and decline transactions when amounts exceed predefined thresholds. Transactions can be monitored or controlled for specific merchant categories, such as travel, restaurants, or entertainment, and can be denied or reported for specific types of merchants. Alerts can also be established to inform cardholders of specific types of transactions and sent when a card is used, when a transaction is approved and exceeds any of the permitted use policies, or when a card transaction has been attempted.
Austin-based Buzz Points has named Dwayne Spradlin as Chief Executive Officer. Since its launch, Buzz Points has expanded to 32 markets in 24 states.
NY-based inLighten’s iGIVE Digital Donation Kiosks are now considered the “Hot Religious Product” of the year. iGIVE enables churches to accept donations via cash, check, credit/debit card and online payment services.
Blackhawk Network’s German subsidiary, Retailo has teamed with Deutsche Kreditbank to enable DKB’s customers to digitally purchase gift cards for Facebook, Nintendo eShop and Spotify using their online bank accounts.
Fiserv unveiled CardValet enabling cardholders to turn their card off when their card is not in use, establish spending limits to allow transactions up to a certain dollar value and decline transactions when amounts exceed predefined thresholds. In addition, transactions can be monitored or controlled for specific merchant categories.
There are conflicting forecasts regarding the outlook for the global m-commerce market between 2015 and 2019. On the low end is a compound annual growth rate (CAGR) of 22%, while the high end the CAGR is predicted to be 32%.
UK consumer spending trends confirms that household spending saw its strongest calendar year of growth since 2010. November was particularly strong as Black Friday sales at the end of the month tempted consumers to bring forward their Christmas spending.
Citibank’s U.S. bank credit card profits rose 22.4% year-on-year (Y/Y) and retail credit card profits rose 1.4% Y/Y in the fourth quarter of 2014 (Q4/14). End of Period (EOP) bank credit card outstandings declined 4.3% Y/Y, while purchase dollar volume (PDV) rose 3.9% Y/Y.
MasterCard is combining its payment technology with Masabi’s JustRide mobile ticketing platform to streamline mass transit payments. The first city to benefit from this alliance will be Athens.
The Smart Card Alliance Payments, Mobile and NFC, and Transportation Councils made significant headway in 2014, educating the industry on the security benefits of smart card technology for a wide variety of payment applications and use cases.The Payments Council focuses on facilitating the adoption of chip-enabled payments and payment applications in the U.S. and works closely with the EMV Migration Forum to educate stakeholders on the security benefits of EMV chip technology. The Mobile and NFC Council activities help to accelerate the practical use of NFC applications such as payments, loyalty and marketing. In 2014, the council put forward workshops, white papers and other educational industry resources to discuss and promote common mobile and NFC standards and best practices.
First Data and UL payment security and compliance partnered to help U.S. merchants expedite their EMV card acceptance. This partnership is focused on giving large and mid-size merchants with integrated POS systems a one-stop EMV migration and certification solution for all major payment networks. Combining UL’s accredited testing tools and centralized certification management platforms streamlines EMV migration by combining training, test tools and testing services, while eliminating the inefficiencies found in the current process of certifying to multiple end-points and certification authorities.
Panasonic unveiled the new modular “Stingray III” POS workstation. An enterprise-grade POS device compatible with a variety of Microsoft Windows operating systems, it features an all-in-one flexible, modular design for the retail, quick service restaurant (QSR) and hospitality industries. Flexibility and Modularity: The Stingray III’s versatile design features interchangeable touchscreens and allows easy customization to meet individual retailer requirements with unlimited mounting options. The increased modularity of the Stingray III also makes servicing and replacing parts a simpler process, allowing the workstation to be easily maintained, reducing total cost of ownership and increasing ROI.