Robert McKinley, Senior Analyst/Editor Robert McKinley is an analyst of the payments industry on a daily basis for 32 years covering payment cards and payment systems from both the business side and the consumer side. McKinley is the retired founder and chief executive of RAM Research, CardWeb and CardTrak. In his prior position, McKinley has participated in more than 10,000 documented news media interviews, testified as an expert witness in two separate $billion+ U.S. anti-trust trials, testified before the U.S. Congress, assisted the GAO with paymentsIMG_2006 (1).jpeg reports, chaired numerous business conferences and provided C-Suite opinion to a multitude of Fortune 500 companies. In retirement, he has continued developing and funding digital media assets as well as contributing payments related analysis/content to a broad list of online publishers, including CardFlash, CardTrak and CardData. McKinley is also a national certified mentor with the non-profit SCORE organization with a focus on assisting Fintech startups.

GE Exiting Retail Finance Business

GE announced that it has filed a registration statement with the Securities and Exchange Commission for the initial public offering (IPO) of its North American Retail Finance business. As previously announced, the IPO is the first step in a planned staged exit from that business. GE currently expects to complete the IPO later in 2014. After completion of the IPO, GE Capital Retail Finance will operate under its new name, “Synchrony Financial,” and the registration statement has been filed under that name.

TD Bank Offers Popmoney from Fiserv

Fiserv, announced that TD Bank has expanded its online money movement options through the addition of the Popmoney personal payment service* and TransferNow online funds transfer service. TD Bank online banking customers now have more ways to easily and securely send, receive and transfer money directly from their bank accounts. Popmoney enables customers to send money to almost anyone they know or owe using the recipient’s name and email address or mobile phone number, eliminating the hassles of cash or checks.

AmEx to Sell 50% of Travel Arm for $900m

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] American Express signed an agreement to create a JV for its Global Business Travel division. American Express will share ownership of the JV with an investor group led by Certares, by which American Express will separate its GBT operations into a dedicated holding structure, which will include certain assets and liabilities…

Up to 25,000 Card Present Transaction Data Compromised

As we previously stated on March 5th, our systems detected an unauthorized attempted intrusion into our Sally Beauty Supply LLC network. At the time of this discovery, we immediately engaged a top-tier forensics firm (Verizon) to investigate this security incident. As a result of this ongoing investigation, we have now discovered evidence that fewer than 25,000 records containing card-present (track 2) payment card data have been illegally accessed on our systems and we believe it may have been removed. As experience has shown in prior data security incidents at other companies, it is difficult to ascertain with certainty the scope of a data security breach/incident prior to the completion of a comprehensive forensic investigation. As a result, we will not speculate as to the scope or nature of the data security incident.

Ebates Acquires Extrabux

Ebates Inc. today announced the acquisition of Extrabux, a free, comparison shopping website where consumers discover the best prices, find coupons, and earn cash back on their online purchases. The two companies have a growing membership base in China and today announced the launch of to capitalize on this opportunity. will offer members cash back, coupons and special deals from over one thousand retailers including eBay,, Sierra Trading Post and Vitacost. During the month of March, shoppers will be able to earn up to eight percent cash back by shopping at their favorite retailers through

Oink Partners With European Games Group for Mobile Payments

Virtual Piggy, Inc., provider of Oink, today announced that it has partnered with the European Games Group to provide a safe, seamless payment technology for their games, including Hero Zero, across their 16 million user base. Oink is a mobile-first payment technology designed to allow retailers and game publishers to reach consumers in a safe, legal and effective manner compliant with the FTC and other international regulations. The award-winning technology serves as a digital family wallet that is available online or via mobile and allows safe, secure transactions -and can be enhanced with parental controls.

mopay Extends Partnership with Deutsche Telekom

mopay announced today a carrier billing partnership with Deutsche Telekom. The agreement will allow mopay to connect directly to Telekom’s international payment hub, Service Delivery Platform (SDP). Through this direct access, 14 markets and 142 million mobile customers will enjoy the frictionless mopay payment experience powered and connected by one of Europe’s largest carrier groups. The complementary capabilities of mopay and Deutsche Telekom provide the best possible user experience for their respective customers. While mopay enables digital merchants to integrate the mopay platform as a carrier billing option into their checkout process, Deutsche Telekom provides the backend billing capabilities.

Western Union Launches new Service In Nigeria with Paga

The Western Union Company today announced the launch of a new mobile money transfer service to Nigeria, which increases the reach of Western Union payout options in the country. The new service to Nigeria integrates directly with Paga, the leading mobile payment platform in Nigeria, with more than 1.2 million users. Paga users now have the option of receiving a Western Union Money Transfer® transaction directly into their Paga account.

Dataworks CEO Passes, Interim Named

It is with a collective heavy heart that US Dataworks, Inc. today announced the passing of its long-time Chairman and CEO, Charles E. Ramey, who died yesterday morning after suffering a severe heart attack from which he was unable to recover. The Company also announced that its Board of Directors has appointed John Penrod as its interim Chief Executive Officer. Mr. Penrod will continue in his role as the Company’s VP of Operations in addition to his new CEO duties. Joseph Saporito, an outside director of the Company, will take over the Chairman role with the Board seat left vacant by Mr. Ramey’s death to remain unfilled for the time being.

ZNAP Unveils NFC Payment App

ZNAP™ announced today that the New York Sound City conference and music festival on March 17th in Williamsburg, Brooklyn will be the first U.S. event to feature ZNAP™’s NFC (near field communication) payment technology. During the event, ZNAP™ will unveil its NFC features to attendees, who will be the first consumers to test its tap-and-pay capabilities. In addition to facilitating mobile transactions, the ZNAP™ app enables consumers to manage loyalty points, rewards programs, coupons and special offers using their mobile devices. Promoters can activate capabilities designed specifically for festivals and live events.

Fiserv to Advance Visa’s Common Debit EMV Solutiion

Fiserv, Inc. just announced an agreement to make Visa’s common debit EMV solution available for the Accel(TM) debit network. Under the agreement, Fiserv will adopt Visa’s common debit solution offering issuers, acquirers and merchants a simple, streamlined approach for debit EMV adoption. The agreement will help enable the development of regulation-compliant debit EMV solutions using a common Application Identifier (AID).

U.S. Bank Introduces FlexPerks Corporate Program

U.S. Bank is extending its award-winning FlexPerks® Travel Rewards program into the business-to-business space with the launch of FlexPerks Corporate Rewards for commercial card programs. The rewards program will be offered as an optional add-on for U.S. Bank’s most popular commercial cards: the U.S. Bank Corporate Travel Card, the U.S. Bank Executive and Executive Platinum Cards, and the U.S. Bank One Card. FlexPerks Corporate Rewards offers organizations and their employees a new way to benefit from spending on cards. Flex points can be pooled at the corporate level to be redeemed at the organization’s discretion, or employees can be enabled to earn the points.