mPOS (mobile point of sale) in Europe will take off dramatically in 2014, driven by changing perceptions towards card acceptance usage by small businesses (SMEs) and micro-merchants. The number of European merchants signing up for Chip and PIN mPOS increased by more than 60% in the last quarter of 2013.
Citi launched its Mobile Snapshot, allowing customers to view deposit and credit card balances and recent transactions without having to log into their accounts. This follows a successful beta test conducted with customers over the past three months. Citi banking and credit card customers who choose to enroll in Citi Mobile Snapshot will have instant access to their basic account information. The new feature will help enrolled banking and credit card customers monitor their accounts on-the-go by displaying balances and the 15 most recent transactions without requiring a log-in every time. The introduction of Citi Mobile Snapshot feature is part of the complete redesign of the Citi Mobile app launched earlier this year. The new app, enabled for iPhone® and Android™ devices, provides U.S. banking and credit card customers with new and enhanced mobile account management capabilities.
The four major U.S. payment card networks, Visa (VS), MasterCard (MC), American Express (AX) and Discover (DS), produced a 3.2% year-on-year (Y/Y) gain in Spending Per Card (SPC) during the first quarter of 2014 (Q1/14), according to CardData.
Nordea has selected iZettle to be its provider of mobile point of sale (mPOS) solutions in Sweden, Norway, Denmark and Finland. Under the cooperation agreement Nordea will promote iZettle mPOS solutions to the bank’s small business customers on its website nordea.com and in its 800 branch offices throughout the Nordic region. iZettle started in 2011 offering an easy way to take card payments. Now small businesses also come to iZettle for tools to grow their business: from a complete point of sale solution, to free sales overview tools like reports and graphs to spot sales opportunities and identify loyal customers.
Euronet Worldwide has completed the acquisition of U.K.-based HiFX. The acquisition complements Ria, Euronet’s existing money transfer business, by expanding its offerings to include online-initiated, account-to-account international payment and foreign exchange services to high-income individuals and small-to-medium sized businesses. Under the terms of the purchase agreement announced on March 10, 2014, Euronet acquired HiFX for approximately [Pounds]145 million or $242 million. The purchase consideration was comprised of approximately 1.3 million shares of Euronet stock and approximately $185 million in cash, including approximately $78 million of cash on hand and approximately $107 million funded using Euronet’s revolving line of credit. HiFX, now a wholly owned subsidiary of Euronet, will present its financial results with Euronet’s existing money transfer segment.
CyberArk has released a new white paper demonstrating how retailers can comply with the latest PCI DSS regulations, Securing Privileged Accounts: Meeting the Payment Card Industry Data Security Standard 3.0. The paper outlines how organizations can navigate increasingly stringent compliance regulations by locking down the most targeted attack vector – privileged accounts. Securing privileged accounts is not only one of the most important aspects of protecting cardholder data, it is critical to maintaining control over the IT infrastructure itself. The newly released regulations outlined in version 3.0 underscore the importance of shared responsibility when working with third-parties and requires all entities to align with its regulations by December 31, 2014. CyberArk provides a comprehensive approach to help organizations comply with PCI DSS and protect cardholder data. With CyberArk, organizations can implement effective security to:
FIS banking and payments technology won “Best Mobile Banking Technology” at the 2014 World Finance Technology Awards.The World Finance Technology Awards, produced by international financial magazine World Finance, were created to celebrate “achievement, innovation and brilliance” in technological advancements. Nominations are based on reader insight, and are judged by a panel with more than 230 years of financial and business journalism experience. In addition, each award winner is carefully reviewed by a research team to make sure its work is of the highest caliber. This is the fourth major award FIS’ mobile business has received in the last six months, including: 2014 Frost & Sullivan Customer Value Enhancement Award for FIS Mobile Wallet, 2013 Best in Class Mobile Banking Vendor Overall by Javelin Strategy & Research No. 1 in Top 3 Mobile Banking Vendor Standards and Customized Solutions and No. 1 in Top 3 Mobile Banking Standard Solutions by Javelin Strategy & Research.
The FIDO Alliance, an industry consortium revolutionizing online authentication with standards for strong authentication, announced that Visa, the global payments technology company, has joined. With this, Visa been appointed to the Board of Directors. Also, Visa Europe will join the alliance as a sponsor member and will be represented on the board by Visa Inc. FIDO Alliance members commit to share technology and collaborate to deliver open specifications for universal strong authentication that enables FIDO-compliant authentication methods to be interoperable, more secure and private, and easier-to-use. FIDO specifications will support a full range of authentication technologies, including biometrics such as fingerprint, eye and iris scanners, voice and facial recognition, as well as further enabling existing solutions and communications standards, such as Trusted Platform Modules (TPM), USB Security Tokens, embedded Secure Elements (eSE), Smart Cards, Bluetooth Low Energy (BLE), and NFC.
American Eagle Credit Union is the first credit union in Missouri to deploy NCR’s new interactive, remote video technology to deliver personal teller services to its members. This offers members live video interaction. The NCR Interactive Teller lets the credit union offer members the benefits of the personal service experience of a branch via a drive-up unit. Interactive Teller acts as a “virtual teller window”, giving members the ability to make transactions as they would inside the branch such as withdrawals, deposits and payments, transfers, and check cashing. The new technology will lower processing costs and provide faster transactions. One service representative can attend to as many four machines at multiple branch locations, enabling the employees at those locations to focus on in-branch member connections.
Fiserv and the University of Connecticut School of Business announced that Fiserv is participating in the university’s Financial Accelerator Program to help educate students and foster innovation. UConn MBA students are now collaborating with area business leaders from Fiserv and two of its clients, the Savings Bank of Danbury and Greylock Federal Credit Union, to explore how financial institutions can attract and serve Gen Y consumers using state-of-the-art banking technology. This also introduces UConn MBA students to the DNA™ account processing platform from Fiserv. DNA is a modern, enterprise-wide software platform that is relied upon by hundreds of banks and credit unions, including Savings Bank of Danbury and Greylock FCU, for transaction processing, data management and customer relationship management. DNA offers a unique development toolkit – DNAcreator™ – that allows users to create seamlessly integrated applications called DNAapps™ that extend the platform in new and powerful ways. At the conclusion of the Financial Accelerator Program, UConn students will present a business case for creating a new DNAapp that DNA users like Savings Bank of Danbury and Greylock FCU can use to enhance the millennial banking experience.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Target first quarter net earnings of $418 million, with adjusted earnings per share down 13.9%. To improve performance, Target has made changes to the management team and are investing additional resources to drive U.S. traffic and sales, improve Canadian operations and advance ongoing digital transformation. The Company is projecting a 2Q/14…
GoDaddy announced Suvidhaa, a Suvidhaa Infoserve Pvt. Ltd. (SIPL) franchise, has purchased Suvidhaa.com as a key part of its global expansion. The payment company allows customers to pay cash for necessary bills and services such as travel, utilities and entertainment at convenient locations including grocery stores, pharmacies and cyber cafes. More than 18 million customers have used Suvidhaa to pay bills at these locations often without even realizing it was Suvidhaa that made it possible. The company’s objective is to empower consumers to pay bills and manage transactions online. With its well-established market presence in India, the top-level domain Suvidhaa.com and GoDaddy’s commitment to quick and collaborative customer care is helping to facilitate the company’s international expansion. After experiencing GoDaddy’s remarkable support, customer care and efficient premium domain purchasing process, SIPL has registered 80 other domains with GoDaddy.