MasterCard and Worldline partnered to offer the digital wallet platform with open interfaces available for card-issuing institutes. The digital ‘Wallet’ solution will be available to Sparda bank customers via internet. The technology was developed for the Sparda Banks Group by Worldline which meet MasterCard’s specification. MasterPass is a truly global, interoperable solution that makes payment processes quicker, safer and simpler. This clears the path for a more comfortable shopping experience, while also helping consumers and retailers alike take an important step forward in the digital economy. MasterPass eliminates the need for consumers to register with the individual retailer, an in particular the need to re-enter payment data and shipping data with each new transaction. These are instead stored in the system and are revealed to the retailer automatically when the transaction goes through. The payment process is thus shortened to just a few clicks ” a significant time savings.
Fime has been qualified by Visa to perform testing for its ‘contactless EMV analogue and digital’ specifications. This latest qualification supports handset manufacturers by enabling the leading payments consultancy and advanced testing provider to confirm compliance of near field communication (NFC) enabled mobile devices to the functional requirements laid out by the payment system. This after Visa accredited FIME EMEA laboratory to deliver Visa Mobile Payment Application (VMPA) testing to validate Visa payment applications on secure elements.
The NBPCA names a new president. Doug Bower. He held executive positions with Advanta, a multi-product financial services company, MBNA, a large bank issuer of credit cards now part of Bank of America, and CIGNA, a major insurance company.
While retail sales are soft the National Retail Federation says all is good and things will get better by year’s end. The NRF says no retailer was immune to the doldrums witnessed during the first quarter, and as a result, the year’s growth trajectory was impacted.
Monitise inks a deal to move its production hosting and cloud requirements to IBM, including SoftLayer. The news comes admidst revenues from consumer-originated payments predicted to increase from $249 billion worldwide in 2012 to $460 billion in 20221, there are multiple opportunities for banks to capitalize on this growth via mobile money services.
ACI Worldwide announced that Ohio-based Franklin University has selected ACI to power its online payments. Franklin University wanted a proven payment provider with technology that required no additional programming to integrate with the University’s ERP system. It also wanted technology that provided a low total cost of ownership. ACI’s electronic payment solutions and integrated strategic partnerships with wide-ranging ERP providers made it the ideal payment partner for the University.ACI is a market leader in providing electronic payment solutions to colleges and universities with more than 300 higher education institutions in the United States and Puerto Rico utilizing its payment processing solutions.
A comprehensive report of 12,000 consumers and profiles of several campus prepaid cards including BlackboardPay, Fifth Third Mastercard Prepaid Campus Card, Heartland ECSI Acceluraid Prepaid Discover Card and U.S. Bank Contour Card all show prepaid is emerging big time on campus as opposed to easy credit cards.
American Express Global Business Travel (“GBT”) today announced new servicing and technology tools and platforms that foster stronger connections and enable smarter communications with travelers and travel managers. Central to these solutions is GBT’s focus on interacting with business travelers when and how they want to be reached, and ensuring a seamless experience from trip planning and booking to traveler care in the case of a disruption. The solutions announced today include the launch of First from American Express Global Business Travel and major enhancements to GBT’s existing A X CONNECT product and TripCase integration. Firstfrom American Express Global Business Travel is a new solution for road warriors and executive travelers that provides them the end-to-end experience they deserve – from personalized business trip planning, to continuous monitoring and anticipation of traveler needs, to proactive care while on the road.
The bedrock of First is the elite team of expert travel counselors and the next-generation technology behind them. These travel experts go above and beyond simply selecting the right airline seat or meal preference. They are virtually alongside the traveler, 24/7. First travel counselors are empowered to advocate and immediately resolve issues on the traveler’s behalf, utilizing strong supplier relationships and the latest travel disruption notification technology to help ensure a comfortable, productive, and safe trip. They are committed to finding solutions that remove travel obstacles and ensure a traveler can maximize productivity while on the road.
The bank credit card business is back, now humming on all cylinders after going through a terrible 2009 and 2010 with massive losses. Chase Card Services, the biggest U.S. player, posted Q2 net revenue as a percentage of average loans of 12.15%, compared with 12.59% in the prior year and 12.22% in the prior quarter.
American Express posts a 9% year-on-year growth in the second quarter cardholder volume, but profits rise in the U.S. by only 4% due to higher marketing and promotion costs along with rising cardholder rewards expenses. Overall, AmEx net income rose 9% to $1.529 billion, compared to $1.405 billion one-year ago.
KBC is joining MyBank and will offer this Europe-wide payment method to their retail and corporate customers from spring 2015 on.The MyBank button redirects internet shoppers to their online or mobile banking platform, where they can pay by confirming a SEPA Credit Transfer order that already has all the details filled in. KBC will also roll out MyBank Mandates, a solution that will allow customers to authorise electronic mandates for the payment of recurrent bills or online purchases via SEPA Direct Debits. Merchants and public authorities across Europe will be able to replace paper mandates with this efficient new solution. Moving to an electronic process that informs the bank of the debtor about the signing of a mandate in real-time reduces costs and the time required to collect funds.MyBank is currently available to over 12 million retail customers in Italy, France and Luxembourg and supports the initiation of SEPA Credit Transfers via online or mobile banking. From October 2014 on, the solution will also enable customers to create, modify and cancel electronic mandates for direct debits.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Wincor Nixdorf AG has revised its forecast issued for fiscal 2013/2014 as a whole. The Company and now expects net sales to reach a level comparable to that recorded in the previous year instead of rising by the 4% it had originally projected. The forecast for operating profit remains unchanged, with…