An automated teller machine (ATM) with no card reader. Pre-staged withdrawals on smartphones. Cardless transactions. And everything managed via the cloud. A new era of banking, inspired by the Millennial generation, is dawning at Diebold Federal Credit Union (DFCU), where an innovative ATM from Diebold, Incorporated and a mobile wallet solution are allowing members to complete self-service transactions and make retail purchases without using physical debit or credit cards. DFCU is piloting the world’s first ATM without a card reader or PIN pad that relies solely on mobile authentication. When a consumer scans a unique QR code at the ATM using a smartphone, the ATM authenticates the user via cloud-hosted services to enable secure, cardless transactions.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Conference Board Leading Economic Index® (LEI) for the U.S. was up 0.5% in February to 99.8 after a 0.1% increase in January and a 0.1% drop in December. The LEI increased sharply in February, compared to recent monthly figures, suggesting weather-related stifling is over and consumer spending in 2H/14 will…
Banco del Tesoro will be installing 200 new CINEO ATMs from Wincor Nixdorf by July of this year, doubling the number of systems in its ATM network and supporting its growth strategy. The order placed by Banco del Tesoro with Wincor Nixdorf also includes software to enhance security and manage the systems. At many of the systems, the bank’s customers will be able to do far more than simply withdraw cash. For instance, they will be able to use the multifunction systems to deposit cash and checks and process passbooks. They will also be able to use them to pay bills quickly and easily by scanning in all invoice information via a barcode reader and acknowledging the credit transfer with a tap on the touchscreen. Wincor Nixdorf will integrate the software for these services by the fall of this year.
NCR announced that Cumberland Building Society will be migrating its NCR ATMs to Windows 7. Cumberland Building Society is achieving this by deploying NCR Financial Services solutions, thereby improving the overall customer experience and maintaining its position as one of the U.K.’s most innovative financial institutions. Cumberland Building Society continues to expand its network of NCR SelfServ 25 ATMs in additional branches across the region. The provision of these advanced ATMs aims to improve customer service with better availability and access to services for their members. Issuing contactless EMV payment cards, rather than traditional EMV cards requires an upgrade to the chip to handle contactless transactions. There are other benefits that migration to Windows 7 can afford financial institutions such increased operational efficiency, as installation and maintenance take less time, and the ability to support the most innovative, up-to-date hardware.
Barclaycard Business Solutions launched a new product, Fuel+, which could help companies cut an average of a quarter off their business fuel costs1 by improving the way they manage fleet fuel expenses. Fuel+ is designed to help both drivers and fleet managers and combines a fuel expenses Barclaycard with a mileage capture and audit system, developed by TMC. The Fuel+ Barclaycard, with global Visa acceptance, allows drivers to refuel at almost all petrol forecourts in the UK2 while the TMC mileage system gives fleet managers complete visibility of their staff’s fuel spend and reduces costs by streamlining and automating processes.
Payleven mobile card payment launched its NFC mobile Chip & PIN card reader to the European market for the second half of 2014. While the major mobile phone manufacturers and card providers have already started to implement NFC to enable consumers, the merchant side NFC-terminals have to date been costly and uncommon in everyday use for most UK smaller business owners. With the launch of the new device, payleven will remove this barrier through a competitively priced unit, aimed specifically at SMEs. NFC transactions in the UK are becoming increasingly common, with over 35.9 million contactless cards in circulation in the UK, used to make 8.5 million contactless transactions each month, according to the UK Cards Association. The new card reader combines mobile CHIP & PIN technology for debit and credit card payments with NFC, allowing payleven customers to accept contactless payments wherever they are. It will be offered for a much lower price than other NFC card readers currently on the market and will significantly broaden the potential for smaller businesses in the UK to accept NFC card payments.
IZettle and Santander UK announced that iZettle’s Chip & PIN reader will be offered to Santander business current account customers for £59 inc VAT. The price drop will also be combined with a 100 per cent cashback offer after a user completes their first iZettle transaction.iZettle’s card reader is compatible with all major credit and debit cards including MasterCard, Visa and American Express. There are no set up fees or contracts. Customers pay only when they use iZettle. Transaction fees start at 2.75% and reduce to 1.5% for those with a high sales volume. iZettle is currently live in nine markets across Europe and South America. It also provides free analytics tools to help small businesses spot sales opportunities and identify loyal customers.
Dovetail, a leading provider of next generation enterprise banking solutions, announces the appointment of Sean Conboy, Head of Sales and Account Management for the UK and Africa. Sean joins Dovetail after seven years at Pegasystems, where he was responsible for selling complex software solutions to Financial Institutions. With over 20 years’ experience working with leading Financial Institutions, Sean will be responsible for leading the expansion of Dovetail in the UK and new markets in Africa.
Cardlytics announced the release of its latest white paper: “Understanding True Loyalty – Gaining Insight into Customer Loyalty Based on Whole-Wallet Spend.” This white paper goes into detail on what makes a customer truly loyal and how marketers can more accurately communicate with this important group using Whole-Wallet Analytics. This white paper compares consumer spending within categories to test the predominant theory that a retailer’s most frequent customers are their most loyal customers. Through relationships with nearly 400 banks in the US and the UK, Cardlytics utilizes their patented Cardlytics Automated Transaction System (CATS) to analyze the purchase behavior of consumers within and across categories and geographies. The analysis demonstrated that frequency should not be the only determining factor when identifying an organization’s most loyal patrons.
Alcinéo and ASK are pleased to announce their partnership to provide contactless payment solutions for fare collection systems. Alcinéo will provide its contactless payment suite that covers the main payment scheme such as PayWave of Visa, PayPass 3.0 released by MasterCard or ExpressPay 3.0 for American Express. Additionnally, this payment suite comes with en Entry Point layer fully compliant with the modular architecture requested by EMVCo. Alcinéo payment suite has already gone through several certifications process successfully.
Payoneer global payments announced Google has selected Payoneer as a payments provider for Google Trusted Stores. Payoneer will power the program’s customer payouts, providing bank transfer services that enable Google Trusted Stores to send payments to people in many countries where it currently operates. The Google Trusted Stores program helps customers identify merchants they can trust online. Google stands behind the merchants that have earned the Trusted Store badge with a $1,000 lifetime purchase protection for shoppers. Payoneer was selected to deliver purchase protection consumer payouts in select countries where Google Trusted Stores operates.
TSYS Merchant Solutions announced its partnership with Navy Federal Credit Union designed to provide Navy Federal’s merchant members with the ability to accept credit and debit cards as payments for their goods and services. TSYS Merchant Solutions, a wholly owned affiliate of TSYS (TSS), is ranked as the seventh largest merchant acquirer in the U.S. by number of active merchant outlets according to The Nilson Report. Navy Federal members will now have access to world-class payment acceptance and marketing solutions, including competitive comparison dashboards, mobile, tablet, e-commerce and retail point-of- sale solutions, along with 24/7 customer and technical support.