Founded in Herzliya, Israel by veterans of the finance and retails industries, PayItSimple is gaining traction as it enters the U.S. marketplace. The new service enables consumers to simply and easily charge any purchase on their existing credit cards and pay it back in monthly in interest free installments.
Early research is showing this holiday season could be an excellent one for retail spending. More than eight out of ten employed Americans report that their jobs are more than or just as stable as one year ago, up significantly from 69% in 2011.
Western Union announced the inking of an agreement to provide, for the first time, money transfer services to consumers in Angola. The deal, with the Angola Post Office, will be facilitating connectivity across the country, keeping its services relevant for years to come.
Sweden’s Seamless, a/k/a SEQR, to acquire Micro Mobility Sweden and Ingram Micro Mobility Denmark’s non-core mobile prepaid airtime line of business. Combined with the mobile payment solution SEQR, the mobile refill and other eProducts creates a strong and profitable offer to the more than 2,000 retailers in the two countries. As a result of the acquisition Seamless will more than double its revenue.
The mobile payment market in China will explode between now and 2018, rising at a compound annual growth rate (CAGR) of 108% in volume. Leading the way is Alipay, Beijing LaKala Billing Services, TenPay and YeePay.
Brazil’s UOL BoaCompra is overtaking the online games payment territory in Turkey. As the fourth largest internet usage country in Europe with 70% of total game time spent on PCs, Turkey is dominated by free-to-play models and MMO’s. The company’s latest full-service payments launch into Turkey comes off the heels of the company’s expansion into Colombia, Peru and Mexico
Bank of America has expanded it Preferred Rewards program to Michigan, Illinois, Tennessee, North Carolina, Georgia and Florida. This is part of a four-wave national rollout of the program that began in June and will be completed by the end of September.
Citibank has launched a global initiative to inspire technology developers to reimagine mobile banking and payments and to stimulate digital progress in the industry. Citi Mobile Challenge will provide developers with a suite of tools they can use to build solutions to benefit consumers either through mobile applications or the Internet of Things. Selected participants will present their concepts at demonstration events in Miami, New York and Silicon Valley and finalists will have the chance to take their technologies into production with the support of Citi.
Small-business customers who have both a credit card and merchant processing relationship with U.S. Bank can “double dip” on rewards. The new rewards program, Encore, offers small-business customers extra rewards when they pair a U.S. Bank Business Edge Rewards Credit Card with a U.S. Bank Payment Solutions merchant account.
The Global NFC POS Terminals market is expected to grow at a Compound Annual Growth Rate (CAGR) of 57.9% between 2013 and 2018. One of the key factors contributing to this market growth is the increasing penetration of NFC-based mobile handsets. Terminals have also been witnessing the increasing penetration of NFC POS terminals in the transportation sector for ticketing transactions.
MasterCard is pushing its Simplify Commerce to merchants and developers in Ireland. The product enables any business to quickly and easily accept payments from major brands, online or in person, in a matter of minutes.
CardWeb’s CardExecs database today spotlights Rob Reeg, president, MasterCard Technologies & Operations (MTO). He oversees the strategic processing platform, global network and quality of technology operations at MasterCard Worldwide. Based at the MTO headquarters in St. Louis, Missouri, Reeg serves as a member of the company’s Executive Committee.