While Visa Inc. (VS) generally spends more than 50% in marketing than MasterCard, Inc. (MC) historically, the figure is extremely skewed by the absence of creditable figures from Visa Europe. However, during the fourth quarter MC way outspent VS to the tune of $321 million, compared to the VS figure of $186 million.
GlobalCollect payments service provider has signed a partnership agreement with QIWI plc payment services. As part of the deal, GlobalCollect has integrated QIWI into its portfolio of payment products. By adding QIWI to their payment mix, GlobalCollect merchants gain access to over 70 million consumers in Russia and the CIS. The company is already seeing strong demand across all industries, with gaming and digital media companies among the first to start accepting QIWI payments through GlobalCollect.
Xendpay have introduced services for sending money to mobile wallets, allowing customers to transfer money directly to mobile wallets of family and friends. With the intention of making international money transfers easier, safer and cheaper, the new service is available for remittance to Ghana, Kenya, Nepal, Nigeria and Philippines but the team at Xendpay is working on expanding this list with further new partnership announcements due in the coming weeks.
Xoom digital money transfer provider partnered with Punjab National Bank (PNB), to roll out instant bank deposit services to bank accounts in India using the revolutionary IMPS (Immediate Payment Service) platform. IMPS is a unique remittance processing platform for account-to-account remittance offered by the National Payment Corporation of India (NPCI). Xoom’s technology and IMPS’ technology will let Xoom customers send money from the United States instantly to many prominent banks in India via the IMPS system in the coming weeks. Currently, IMPS has 63 banks as part of its ecosystem. Xoom offers deposits to bank accounts in India including NRE and NRO accounts.
The Avaloq group has successfully migrated Ticino Cantonal Bank (BancaStato) to the B-Source Master, the Swiss Business Process Outsourcing (BPO) platform based on the Avaloq Banking Suite.BancaStato has successfully been migrated to Avaloq’s Swiss BPO platform, the B-Source Master based on the Avaloq Banking Suite. The going live was on 1 April, 2014 after a project time of 18 months. The bank decided for the Avaloq group due to its many years of experience in back office operations, the state-of-the-art platform and the innovative web and mobile banking solutions. The Avaloq group also provides BancaStato with new solutions in the area of credit business and fully automated processes for the cashier desk. The solution excels through its high usability designed for easy and comprehensive interaction between the bank and its clients.
ANZ is expanding payment options for its customers by accepting UnionPay cards at 120,000 merchant terminals and ATMs throughout Asia Pacific. Under the agreement, UnionPay cards will be accepted at ANZ merchant terminals and ATMs by 2015. ANZ has had a presence in China since 1986 and was locally incorporated in 2010.
Worldpay US payments processing has entered into a referral agreement with 5Linx Enterprises. The agreement will allow 5LINX to promote Worldpay payments processing products and services to merchants. The expansion of its relationship will give 5LINX and its Independent Marketing Representatives a concentrated approach to Worldpay markets. Our Representatives and customers will benefit from offers tailored to our 95,000 members.”
Intuit has completed its acquisition of Check mobile bill pay tfor $360 million. This will accelerate Intuit’s ability to offer bill pay across small business and personal finance products and create opportunities to retain, attract and serve additional customers. Check’s highly-rated mobile app automates and consolidates the bill pay process all in one place, reducing the complexity for its 10 million registered consumers. Check customers can monitor bills and accounts, receive alerts when bills are due or funds are low, and pay bills automatically.
The National Retail Federation and the Retail Industry Leaders Association asked an appeals court to overturn a federal judge’s approval of a controversial lawsuit settlement over Visa and MasterCard’s credit card swipe fees, saying it was negotiated by only a handful of merchants and would do nothing to bring the fees under control. Both organizations filed notices of appeal with the 2nd U.S. Circuit Court of Appeals in New York earlier this year, and followed up today with a joint brief asking the court to overturn a December 13, 2013, ruling by U.S. District Court Judge John Gleeson. The district court approved the antitrust settlement even though NRF, RILA and other opponents argued for more than a year that it failed to reform the price-fixing system under which Visa and MasterCard set fees for credit cards issued by thousand of banks. Rather than lower the fees, the card companies proposed in the settlement that they be passed along to consumers as a surcharge. Major retailers rejected the surcharge proposal, saying it was the opposite of what they had sought.
VeriFone Systems, Inc. announced today that taxi passengers in Philadelphia can now use Way2ride to quickly, easily and securely pay for taxi rides with a tap of their smartphones. Way2ride makes the taxi experience faster and easier for passengers in Philadelphia by enabling them to tap and pay for cab fares in 1,400 of the 1,600 taxi cabs currently operating in the city. VeriFone Systems, Inc. is the global leader in secure electronic payment solutions providing expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets.
PayPal, a leading global payments provider, announced plans to introduce services into 10 new markets including Belarus, Cameroon, Côte d’Ivoire, Macedonia, Moldova, Monaco, Montenegro, Nigeria, Paraguay, and Zimbabwe. These 10 new markets will be able to register for a PayPal account and start making payments on millions of websites around the world without the worry of entering their credit or debit card details online. PayPal gives people simpler ways to send money without sharing financial information, and with the flexibility to pay using their account balances, bank accounts or credit cards.
Flint Mobile today announced the integration of its no-card-reader mobile payment app with Intuit’s QuickBooks Online. Flint is the only mobile phone-based payment app that automatically syncs all transactions, line item information and customer information with the user’s QuickBooks Online account, eliminating manual data entry while also providing detailed reporting and customer history tracking not available with other platform integrations.