Ingo Money announced the addition of Dickson Chu as executive vice president, Corporate Development and chief product officer. In this role, he will lead the company’s strategic corporate development efforts and oversee the evolution and development of Ingo Money’s product roadmap and user experience. Chu brings over 25 years of leadership experience in financial services technology, digital payments and marketplace innovation. An accomplished general manager and innovator, Chu most recently served as investor and active advisor to a number of emerging companies. Previously, Chu served as senior vice president, Merchant Solutions at LivingSocial, evolving the company’s strategy to create a new merchant-focused business line. He also spent nearly two years at Citi as managing director, Digital Networks in the Global Enterprise Payments business unit, where he was responsible for the development of global e-commerce and m-commerce capabilities, as well as the development and launch of Citi’s Google Wallet platform. Before joining Citi, Chu spent six years at PayPal, most recently serving as vice president and head of Global Products and Experience. In this role he led product strategy, development and user experience design for millions of consumers and merchant customers, having previously served as global general manager for PayPal’s Global Merchant Services business, which he helped grow from $60 million to more than $1 billion.
Citi, American Airlines and MasterCard partnered to deliver a special performance by Grammy and Emmy Award-winner Justin Timberlake for their cardmembers. Timberlake will bring cardmembers a truly priceless experience through the Citi® / AAdvantage® & MasterCard Priceless Access with a Justin Timberlake™ performance that is reflective of the exclusivity, benefits and access cardmembers are provided. Cardmembers also have an opportunity to enter a social sweepstakes by using #PricelessAccess for a chance to win a flyaway package to attend the NYC show. Click here for the rules and how to enter. In addition, beginning today, Citi® / AAdvantage® members can visit www.aadvantageauction.com to bid on a flyaway package to the event using miles. The Citi® / AAdvantage® MasterCard also provides cardmembers special access to over 10,000 events annually through Citi Private Pass.
Sam’s Club today announced a credit card cash back program that gives members the opportunity to earn 5 percent cash back on fuel, 3 percent cash back on dining and travel, and 1 percent cash back on all other purchases, up to $5,000 annually. The new Sam’s Club MasterCard comes with enhanced credit card safety, a top concern for today’s shoppers. Sam’s Club is the first mass retailer to actively implement chip-enabled technology. Each credit card has an embedded chip that makes the card more difficult to duplicate, which provides enhanced security from fraudulent activity.
Ingenico’s easyCash business has launched JCB merchant acquiring operations in Germany. easyCash holds acquiring licenses for all common debit and credit cards throughout Europe. JCB and easyCash are also planning to begin acquiring in several additional European countries this year.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa announced a new designation for consumer reloadable prepaid products in the US, aimed at simplifying fees, improving consumer protections and creating opportunities for cardholders to improve their financial health. The designation was developed in conjunction with industry thought leaders the Center for Financial Services Innovation (CFSI) and The Pew Charitable…
The four major global payment card networks: Visa (VS), MasterCard (MC), American Express (AX) and Discover (DS), (excluding Visa Europe, CUP and JCB), were flat year-on-year (Y/Y) in Spending Per Card (SPC) during the first quarter of 2014 (Q1/14), according to CardData.
Eurasian Bank announced its new mobile banking service through Monitise Create. The full-service, multi-language mobile banking app is available on iOS (iPhone) and Android to the Bank’s customer base that will exceed one million this year, with iPad and Windows Phone versions to follow. Monitise Create was approached by Eurasian Bank to define, create, develop and launch a mobile banking proposition to reflect the bank’s position as a key financial services innovator in Central Asia. The app, available in Russian, Kazakh and English, will provide all Eurasian Bank’s retail banking customers with access to transaction history for multiple accounts, intra-account transfers, bill payments, the option to apply for credit, block transactions and an ATM, branch and POS finder.
Paycorp payment services acquired 100% of the issued share capital of Saicom Group, the holding company of Kazang Prepaid and Saicom Payphones. Kazang provides prepaid voice, mobile data and electricity through proprietary mobile vending terminals that handle thousands of micro-payments every minute. Other services include DSTV subscription payments and RICA registration. Saicom Payphones, powered by Kazang, offers GSM-based community payphone services that run off the Vodacom network.The acquisition of Kazang is Paycorp’s first major transaction since private equity firm Actis acquired a majority stake in the group in November last year. This acquisition complements Paycorp’s existing suite of payment products and services and, with an established footprint across Africa, Kazang provides valuable new channels, expertise and insights to facilitate the business’s expansion further into the continent.Financial inclusion is a key strategic thrust fo for Paycorp which supplies a range of payment services to underserved rural and peri-urban areas.
MasterPass, now present in Singapore, eliminates the need for consumers to enter detailed shipping and card information to complete their online shopping at MasterPass merchant sites. Consumers can securely store MasterCard and other branded credit, debit and prepaid card information address books and more. This simplifies the process of completing a transaction from any connected device, particularly those with smaller screens. MasterCard is continuing to lead the transition to digital payments and deliver solutions that are better, safer and faster. Shoppers in Singapore will be the first in Southeast Asia to experience the offering which promises a simplified payment experience while protecting the user’s card and personal details. By selecting “Buy With MasterPass” as the checkout option, customers reduce the risk of exposing their personal information over potentially unsafe networks and can look forward to more privacy as their details are not shared directly with merchants.
Ukash announced its latest expansion with its partnership with the Touch network, available at 10,000 chain and independent merchants. Touch has developed a range of transaction systems to support the banking, retail, telecommunications and government sectors across Europe and in Asia Pacific. It has established a strong network of outlets for its point of sale terminals in Australia, enabling consumers to purchase a wide range of electronic products. By adding the availability of Ukash voucher codes from its terminals, Touch founder, Keith Cleeve, believes merchants will see an increase in footfall throughout their stores. Ukash enables consumers to use cash to pay safely and conveniently online by exchanging notes and coins for a unique 19 digit code. Available for use across a variety of sectors, including shopping, gift cards, games, poker and bingo, Ukash is used to pay directly on thousands of websites worldwide.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Roger Hochschild, president and chief operating officer of Discover, will present at the William Blair Growth Stock Conference in Chicago on Tuesday, June 10, 2014, at 4:10 p.m. Central time. About Discover Discover Financial Services DFS +0.77% is a direct banking and payment services company with one of the most recognized…
ROAM, an Ingenico company and the leading mobile commerce platform provider, will provide a mPOS solution for the non-profit Direct Selling Education Foundation’s (DSEF) fundraising effort during the upcoming DSA 2014 Annual Meeting, taking place June 1-3, 2014 at the Hyatt Regency Orlando in Orlando, Florida. ROAM’s participation in the event is the latest example of the company’s growth within the non-profit fundraising segment. ROAM has partnered with key non-profit service providers such as Blackbaud, to help provide its clients with a secure, efficient way to accept card payments at events and through peer-to-peer solicitation. According to Blackbaud, non-profits are projected to double their investment in mobile technologies this year.