MasterCard Worldwide announced its partnership with Rugby World Cup 2015 in central London. MasterCard will be the Preferred Card and Official Payment System of the highly anticipated Tournament, which takes place in England and Wales between September 18th and October 31st. The announcement continues a highly successful partnership between MasterCard and Rugby World Cup Limited, which began ahead of Rugby World Cup 2011 in New Zealand.
TNS Announces Winners of 2014 TNS Choice Awards Award Recognizes Outstanding Performance in the Financial Services Marketplace
TNS, announced the winners of the 2014 TNS Choice Awards to recognize financial services organizations that have achieved superior performance in the competitive marketplace. Winners of the award have shown themselves to be the preferred choice by their strong performance in attracting new customers, satisfying and retaining customers, and winning a larger share of their customers’ total banking business. The program is developed to identify strong achievement on both the National and Regional level. Winners include JP Morgan Chase, U.S. Bancorp, Ally Bank and BB&T Corporation. These research programs also diagnose what is driving marketplace momentum through an assessment of each firm’s customer experience, brand health, and marketing effectiveness.
JetPay has fully satisfied the arbitration award granted to EarlyBirdCapital Inc. As previously disclosed, the International Centre for Dispute Resolution (the “ICDR”), pursuant to an arbitration claim filed against the Company by EBC, rendered its decision on March 3, 2014 and ordered the Company to pay damages of $2,070,000 plus interest, attorney’s fees and expenses of approximately $740,000 within 30 days of the decision. The Company entered into a Securities Purchase Agreement (the “Common Stock SPA”) with Bipin C. Shah, its Chairman and Chief Executive Officer, and C. Nicholas Antich, the President of JetPay Payroll Services (aka AD Computer Corporation), a wholly owned subsidiary of the Company. Mr. Shah and Mr. Antich agreed to purchase an aggregate of 333,333 shares of the Company’s common stock at a purchase price of $3.00 per share, for an aggregate of $1.0 million. Additionally, on April 14, 2014, the Company issued 4,667 shares of Series A Convertible Preferred Stock to Flexpoint for an aggregate of $1.4 million.
MasterCard today announced that it has entered into an agreement to acquire Pinpoint Pty. Ltd. This acquisition is expected to close in the second quarter of 2014. This acquisition, in combination with MasterCard’s capabilities, will benefit issuers, providing them more effective and efficient rewards programs to offer their customers. It will also help merchants target new customers while retaining their existing client base, allowing them to grow their businesses and raise profitability.
Fico announced The Fair Isaac Advisors P&L Insight Service, giving financial services organizations an analysis of their portfolio trends and profit drivers, along with portfolio-level profitability forecasts and what-if scenarios for strategic planning purposes.Unlike traditional P&L assessments, the P&L Insight Service examines potential impacts across the credit lifecycle, including marketing, originations, customer management and collections. FICO’s advisors can rapidly generate actionable insights using a proprietary FICO tool with built-in forecasting models that can be tuned to the particular dynamics of a bank’s portfolio. Advisors convert 12 to 24 months of portfolio-level data into coherent business intelligence, provide automated trend analysis of profit drivers, deliver actionable and quantifiable recommendations, and assist with strategic planning activities for short-, medium-, and long-range objective-setting.
First Data will continue to provide debit processing, ATM driving and network services through its card processing platform and Star Network to Bank of the West, an FDIC-insured bank serving customers for more than 135 years. This renewed five-year agreement will also expand the relationship. First Data has provided debit processing and network services to the bank since 1996, and has driven its ATMs since 2008. With this expanded agreement, First Data will also provide credit processing.
First Data Chairman announced Heidi G. Miller has joined its Board of Directors. Miller was president of JPMorgan International, a division of JPMorgan Chase & Co. Before that she served as CEO of JPMorgan Chase’s Treasury and Security Services, leading 35,000 people in 50 countries. Miller also served as executive vice president and chief financial officer for Bank One Corporation. She has held other CFO positions including at the Travelers Group and later at Citigroup. She graduated from Princeton University with a bachelor’s degree in history and completed her doctorate in history at Yale University in 1979.
American Express posted a 1Q/14 net income of $1.4 billion, up from the year ago figure of $1.3 billion. Meanwhile consolidated total revenues totaled $8.2 billion, up 4% from the year ago figure of $7.9 billion, due in great part to more Card Member spending.
Walmart and Ria are launching the Walmart-2-Walmart Money Transfer Service allowing users to transfer money to and from more than 4,000 Walmart stores nationwide. Walmart-2-Walmart offers a clear fee structure with just two pricing tiers: customers can transfer up to $50 for $4.50 and up to $900 for $9.50. Competitive offerings often include 10 or more fee tiers and charge up to $70 for transferring less than $1,000. Money transfers above $50 make up the majority of transactions in the U.S. Walmart-2-Walmart will bring dramatic savings to these customers. Walmart also offers other everyday money services such as check cashing, bill pay, money orders and tax preparation services, as well as industry-leading pre-paid card programs though the Walmart MoneyCard, and Bluebird, a checking and debit alternative.
Millions of customers transfer money domestically each year, many of them struggling to navigate the complex and costly fees that come with each transaction. Today, Walmart and Ria are launching a retail industry first – Walmart-2-Walmart Money Transfer Service. Available April 24, the new low-cost service allows customers to transfer money to and from more than 4,000 Walmart stores nationwide for up to 50 percent less than similar offerings on the market.
Fujitsu and Ingenico upgraded 63 Merseyrail stations offer contactless payment in terminals and manned ticket outlets. Merseyrail has benefitted from Fujitsu’s STAR point-of-sale ticketing system for the past nine years, after it was implemented in 2005. Reducing paperwork, the system makes it easy for staff to offer a full range of products without having to refer to paper-based manuals. The Merseyside-based rail operator will retain this system, and in conjunction with Ingenico, will provide 92 iPP320 contactless PINPads and Axis, its proprietary centralised payment process solution. These contactless PINPads are fully PCI DSS compliant and were rolled-out across all Merseyrail’s manned kiosk and payment terminals at the end of last year.
Rogers is launching the suretap wallet, a new application that lets customers use their smartphones to make payments at tens of thousands of retailers across the country. Customers can safely store eligible payment cards on their smartphone and make purchases by simply holding it up to contactless payment terminals, just like they do today with plastic credit and debit cards. Customers can add multiple cards to their suretap wallet including a Rogers Prepaid MasterCard that can be topped up with funds for mobile payments. Also available for purchase are gift cards from leading Canadian food and beverage merchants and retailers including Swiss Chalet, Milestones Grill and Bar, Montana’s Cookhouse, Harvey’s, Kelsey’s, Indigo, Earls Restaurants, Ardene, and Spafinder Wellness 365. In the future, the suretap wallet application will offer more retailer gift cards, as well as store loyalty cards, coupons and ID cards.