AFEX non-bank providers of global payment and risk management solutions and Efic will offer Australia’s export businesses better protection against adverse currency movements. Efic will guarantee foreign exchange facilities offered by AFEX to exporters, enabling the foreign exchange specialist to increase the trading limit for clients. With increased limits, those clients will be able to protect more of their export contracts and better secure profit margins.AFEX continues to grow rapidly in Australia, roughly doubling its client base to 8,000 businesses in the last two years alone. It opened the first of three offices in Sydney in 2005, with Perth and Melbourne following in 2009 and 2011 respectively. Recent currency volatility demonstrates the need for the sophisticated payment and tailored risk management expertise AFEX is renowned for.
Rhodes 101 Stops Convenience Stores have deployed NCR’s ConvenienceGo (C-Go) mobile shopping app. Rhodes 101 Stops operates 30 convenience stores across Southeast Missouri and Southern Illinois and is a subsidiary of PAJCO.
ControlScan and TSYS’ ProPay team to provide PCI compliance solutions for small- and medium-sized merchants. TSYS says complying with PCI DSS can be a daunting task for any merchant ” especially for small- to medium-sized merchants. While utilizing products such as ProPay’s ProtectPay encryption and tokenization solution can significantly reduce merchant’s PCI DSS burden, all merchants must still comply with the Standard.
The 2013 Federal Reserve Payments Study Detailed Report provides new information on the payments landscape including updated results on the intensity of card use by consumers and businesses; further discussion of previously released information on third-party payments fraud; new estimates of over-the-counter cash withdrawals and deposits at bank branches and wire transfers made by businesses and consumers; and discussion of emerging and alternative payments likely to replace traditional payments such as cash and checks.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Payments volume for Diners Club International declined 1.8% year-on-year and 3.2% sequentially in the second quarter. After peaking at $7.2 billion in Q4/2012, the international card issued by Discover Financial Services, has experienced a substantial softening in quarterly purchase volume. Acquired by Discover Financial Services in July 2008, the international payment…
Square launched an integration with IFTTT (If This Then That). Sellers can now seamlessly integrate their Square data with IFTTT to trigger customized automated actions that streamline business operations and help their day run more smoothly. The IFTTT service lets sellers link their Square account to IFTTT and create custom “recipes” that integrate their Square payment, refund, and settlement data with other products and services like SMS, Google Drive, Twitter, or email. Square launched its software partner platform, opening the door for software partners to develop tools that work seamlessly with Square’s Register service. Square’s software partner platform, which currently includes Intuit QuickBooks, Xero, and Stitch Labs, gives all sellers the ability to save time and reduce errors with customized tools.
Prepaid cards are a tricky emerging market. A new report suggests that Blackhawk Network, epay, and InComm rule the prepaid market. Mercator says many companies are at risk of displacement if they do not respond accordingly to the mobile, online, and virtual technologies threat.
Visa Europe sets big plans to expand V.me and announces a €200 million investment to support the development of its European digital payment services. Recently, Visa Inc. announced Visa Checkout thar replaces V.me by Visa and is being offered in the United States, Canada and Australia.
Square launched an integration with IFTTT (If This Then That). Sellers can now seamlessly integrate their Square data with IFTTT to trigger customized automated actions that streamline business operations and help their day run more smoothly.The IFTTT service enables anyone to create powerful connections with one simple statement: if this then that. Sellers can link their Square account to IFTTT and create custom “recipes” that integrate their Square payment, refund, and settlement data with other products and services like SMS, Google Drive, Twitter, or email. For example, if a Square business makes a big sale then a congratulatory email could be sent to employees automatically via IFTTT. Likewise, if a large refund occurs at a store, the manager can use IFTTT to set up a text alert to follow up with the customer.
RBC introduces Express Mobile for business customers to view balances and/or transactions for their business deposit accounts; transfer funds between accounts; approve payments and transfers made by other users; and find an RBC Royal Bank branch or ATM.
MoneyGram announces its appointment of execs in two strategic growth areas. Yogesh Sangle has joined MoneyGram as senior regional director for Asia, and Andrew Typrin joins as the company’s vice president of the global MoneyGram Online business.Sangle has more than 15 years of experience in banking and payments solutions in online payments, digital marketing, and sales and product management. Typrin previously supported Amazon’s global expansion and led strategy development and execution for payments acceptance. He formerly founded a consumer payments company, National Payment Network, gaining extensive experience in building and executing new business ventures. Typrin will lead the expansion of MoneyGram Online, focused on building an exceptional and innovative online customer experience.
LoopPay announced that it has received an investment from Visa, part of a larger strategic funding round for LoopPay. LoopPay invented Magnetic Secure Transmission™ (MST) technology which leverages existing point-of-sale infrastructure to receive contactless payments from mobile devices of all kinds with no hardware changes required by merchants. MST aims to reduce reliance on magnetic stripes to store and transmit cardholder data, and instead uses a secure chip to store and transmit data to existing POS terminals via a small low-cost inductive loop that could be embedded in a variety of devices, including smartphones.LoopPay will also work with card issuers and app developers through its SDK to leverage its platform to enhance consumer commerce experiences via mobile. It also has its own LoopPay app, LoopWallet, to help users store and organize all their payment cards, membership cards, ID cards and rewards cards, helping users carry fewer plastic cards with more convenience and better security than traditional physical wallets.