Chase bank credit card profits were down sharply in the second quarter due to a higher provision for credit losses, higher noninterest expense and lower net revenue. However, card purchase volume was up sharply by 12%, delinquency dropped 28 basis points and charge-offs declined 43 basis points. Card Services net revenue as a percentage of average loans was 12.15%, compared with 12.59% in the prior year and 12.22% in the prior quarter.
MasterCard launched MasterPass global digital service in Poland. MasterPass eliminates the need for consumers to enter detailed shipping and card information to complete their online shopping at MasterPass merchant sites. uPaid will be the first partner to leverage the MasterPass platform to enable its digital uPaid wallet. MasterPass will replace and enhance the MasterCard® Mobile platform, which has been present in Poland for three years. uPaid will automatically switch its current users of MasterCard Mobile over to the uPaid wallet. Consumers will continue to access mobile applications that enable them to purchase city transport tickets in approx. 90 towns and cities across Poland, movie theater tickets, order groceries or have flowers delivered in a fast and easy way, wherever they see the MasterCard Mobile acceptance mark today, until it transitions to the MasterPass acceptance mark.
Visa announced a partnership with Borderfree international cross-border ecommerce solutions. Borderfree operates a technology and services platform that allows US retailers to transact with customers in more than 100 countries and territories and more than 60 currencies worldwide. Borderfree’s customer portfolio includes some of the world’s most iconic brands, including Bloomingdale’s, Sears, Macy’s, Gilt, Elie Tahari and Neiman Marcus, among others. Visa’s partnership with Borderfree will commence with an exciting Neiman Marcus promotion which will be rolled out in select markets in the Middle East, including the UAE, Saudi Arabia, Kuwait, Qatar and Bahrain. Visa has partnered with almost 40 banks in the region to exclusively offer cardholders of participating banks duty-free and free international express shipping of goods purchased in excess of US $100 through August 20, 2014.
Bradesco (BBDO) will begin piloting new technology from NCR Corporation to give customers immediate account credit for cash deposits made at the ATM. The global leader in consumer transaction technologies, will eliminate the use of envelopes for cash deposits, making Bradesco one of the first financial institutions in Brazil to incorporate intelligent deposit into its ATM channel. Both account holders and non-account holders of the bank will benefit from this new technology. Account holders will have the deposit amount instantly credited into their accounts, even on weekends. Non-account holders no longer need to go to a teller to deposit cash. Bradesco and NCR also are working to extend real-time deposits to checks, as well. This new model will help to reduce the waste of envelopes used in ATM deposits, give customers dramatically improved access to their funds, and decrease costs.
Sr. Pago (Señor Pago) mPOS services closed a seed round of $1 million in funding after last month’s launch of the Sr. Pago Card System. This service combines a smartphone credit card reader with a debit card that can be reloaded with payments accepted through the card reader. Provided in conjunction with MasterCard and Te Creemos, the Sr. Pago Card System is offered to individuals and small businesses in Mexico that have been underserved by existing banking services. The Sr. Pago Card System provides a secure, chip-based debit card, a chip card reader that connects to any smartphone or tablet, and an app for managing transactions. This enables individuals and small businesses to accept credit card payment for the services they provide, transfer that money to a MasterCard debit card, and then make purchases with the card at MasterCard’s worldwide acceptance.
Customers Bank announced the release of version 4.0 of their mobile app, CB Access. This keeps Customers Bank at the forefront of mobile banking, said Warren Taylor, Executive Vice President and President of Community Banking at Customers Bank. Upgrades include Trusteer Mobile Security, P2P Money Transfer Service, and Spanish Content options. Trusteer is an IBM company which will provide a significant layer of mobile security free of charge for customers to protect them while they bank, surf or shop using their mobile device.
MasterCard today announced the launch of MasterPass™, its global digital service in Poland. uPaid will be the first partner to leverage the MasterPass platform to enable its digital uPaid wallet. MasterPass will replace and enhance the MasterCard® Mobile platform, which has been present in Poland for three years. uPaid will automatically switch its current users of MasterCard Mobile over to the uPaid wallet. MasterCard www.mastercard.com,is a technology company in the global payments industry.
ACI announced Webster Bank, a leading regional bank in the Northeast, has selected the company to host its online banking platform. With $21 billion in assets, Webster Bank provides a variety of business, institutional and consumer financial services through its 166 banking centers and 311 ATMs, as well as via phone, mobile and online banking. In order to serve clients’ online banking needs more effectively, improve usability and bring new features to market faster, Webster is moving to ACI’s hosted platform from an in-house system. Webster selected ACI’s industry-leading online banking platform, Universal Online Banker. Webster’s application will run in ACI’s secure and fully compliant data center, which hosts banking and payment solutions for more than 4,000 financial institutions, retailers, and billers.
Tablet banking is predicted to rise to 138 million users in five years. A new Javelin reports says tablets are becoming the primary device used for a variety of mobile banking tasks. In fact, about 1 in 3 consumers point to tablets as the mobile device he or she primarily uses to email the financial institution. While FIs have worked diligently to finesse mobile banking for smartphone users, but they are less prepared for tablet bankers.
Powa Technolgies completed its Alpha program and rollout of its advanced PowaPOS Software Developer Program to independent software vendors (ISVs) globally. The PowaPOS Software Developer Program features the PowaPOS SDK and online Developer Portal that, together, simplify app integration with PowaPOS point-of-sale hardware and services, including PowaTag, the company’s fast-growing mobile commerce solution that has more than 500 brand partners around the world. PowaTag’s global expansion was recently enhanced with the acquisition of Hong Kong-based MPayMe. The PowaPOS SDK works seamlessly with existing smartphone and tablet applications. A consistent set of APIs work across iOS, Android and Windows operating systems and drives the PowaPOS T-Series hardware and the PowaPIN EMV-enabled card reader. Standard interfaces are provided for the T-Series’ unique integration of tilting/swiveling tablet mount, high-speed printer, 2D barcode scanner, encrypting magnetic stripe reader, EMV-compliant smartcard reader, secure PIN-entry keypad, and cash drawer.
NCR inks a deal with Metcash to deploy self-checkout solutions and POS systems in Australia. NCR will integrate existing POS technology and Profit-Track POS software with NCR POS technology for Metcash’s Independent Solutions (IS) business unit. IS is a point-of-sale technology solution provider with over 1,100 customers.
Diebold has named Sal Mahbouba VP, global services. To lead the company’s global services portfolio, infrastructure and service technology teams, Mahbouba has held various leadership positions at several global high-tech and service-oriented companies where he has been responsible for all aspects of a global services business including supply chain management, forward and reverse logistics, and break-fix repair. During his more than 10 year career with Oracle, Mahbouba was responsible for the conceptualization, development and implementation of consistent business practice, process optimization and solution architecture. More recently, he spent five years at Avaya, Inc. during which time he drove profitable growth and market expansion.