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.

WAVE NFC Receives Visa Certification

On Track Innovations Ltd. announced this morning its OTI WAVE technology has been certified for inclusion in Visa’s Compliant Products List. The OTI WAVE is an NFC add-on for smartphones, tablets and PCs. The OTI WAVE is the industry’s first audio jack plug-in NFC payment solution and the only one to receive certification from major payment companies including Visa and MasterCard. Based on OTI’s patented NFC technology, the compact OTI WAVE is device agnostic, easily plugging into any smartphone, tablet or PC. Users pay with their device while enjoying real-time benefits from loyalty programs and other incentives as delivered by the corresponding application. It opens up a whole new world of mobile device applications, while alleviating the burden of a wallet full of credit cards.

MasterCard Asia Pacific 2013

MasterCard’s Asia-Pacific-Middle East-Africa region (APMEA) is expanding rapidly with gross dollar volume rising more than 21% year-on-year and the number of cards issued growing nearly 15% year-on-year in 2013. Quarterly gross dollar volume runs about $300 billion and the number of cards issued is over 400 million. MasterCard will release fourth quarter and annual results on January 31 before the market opens.

PAYe unveils pay-in pay-out ATM network

PAYe Network is introducing the PAYe USA Network at the ATMIA U.S. Conference 2014: Reinventing the ATM, Loews Royal Pacific Resort at Universal Studios, Orlando, FL February 11th through the 13th. The ground-breaking patent pending PAYeCASH solution bridges the gap in the digital divide between online and mobile payment channels, and bricks-and-mortar payment systems. Historically ATM and POS network operators have been locked into card based payments acquiring relationships that offer few options for generating additional revenue streams. And emerging new payment methods (NPM) have for the most part evolved as alternative payment closed-loop systems with little or no interoperability with traditional legacy payment channels. PAYe Network provides ATM and POS network operators with a universal Omni-channel payments solution that is simple, safe, and convenient and provides ATM and POS network operators with a complete compliance program.

MasterCard Names General Counsel, Chief Franchise Officer

MasterCard appointed Tim Murphy to general counsel and chief franchise officer and will sit on the Executive Committee. Murphy, 46, joined MasterCard’s Law department in 2000 and became senior vice president and associate general counsel in 2003. In 2006, Murphy was named group executive, Customer Business Planning and Analysis, and was president of MasterCard’s U.S. Region from 2007 to 2009. Murphy then became chief product officer, responsible for leading the management, development and commercialization of MasterCard’s core payment solutions. Also, Craig Vosburg will assume the role of chief product officer after holding the role of group executive, U.S. Market Development. Mike Cyr, group executive, U.S. Markets Customer Delivery, will now become responsible for U.S. Market Development; and Jennifer Rademaker, group head, Core Products, Europe, will become group executive, U.S. Markets Customer Delivery, and now joins the company’s Operating Committee.

Heartland Payment Systems Posts 4Q/13 Up 22%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Heartland Payment announced Adjusted Net Income and Adjusted Earnings per share from continuing operations of $20.5 million for the quarter ended December 31, 2013. Adjusted Net Income from continuing operations were $17.7 million while GAAP net income was $17.4 million for the three months ended December 31, 2013. Adjusted Net Income…

Bank of America 2013

Purchase volume, per average active account, for Bank of America’s U.S and international consumer credit cards increased 6% year-on-year in the fourth quarter. Charge-offs for U.S. cards fell to its lowest level in eight years. However, for the full-year 2013 BofA’s U.S. consumer credit card portfolio average yield fell 29 basis points to 9.73%. On a quarterly basis the U.S. card yield fell 65 basis points. The international consumer credit card portfolio average yield rose 10 basis points to 11.70% on a full-year basis. Comparing Q4/2013 to Q4/2012, the international card yield also fell 65 basis points. Overall card yield was down sharply from the third quarter. The risk adjusted margin for the U.S. card portfolio rose 114 basis points on a full-year basis to 8.68%.

Xoom Acquires BlueKite

Xoom Corporation announced it has acquired BlueKite for approximately $15 million in cash and equity. BlueKite has built a robust technology platform for cross-border bill payments and mobile phone top ups. This acquisition will allow Xoom to offer adjacent services to their burgeoning money transfer offerings, with the ability to pay bills for their loved ones, as well as top-up mobile phones.

Dominican Republic’s First Mobile Wallet

The first mobile wallet was launched in the Dominican Republic by the leading prepaid telco operator (Orange) and the largest bank (Banco Popular Dominicano). M-peso is a mobile money initiative created to cater financial services to the bottom of the pyramid, which represent 72% of the Dominican population (9.4 million, 2010 census). The product was launched after 6 months of preparation and roughly 8 months after the regulators published the framework for virtual prepaid cards and branchless banking. The design, development and implementation of the turn-key solution was handled by GCS International, the same company that has created and commercialized great success the acclaimed regional products tPago® and Citi® Mobile Collect.

EMVCo Qualifies Clear2Pay

Clear2Pay today announces that EMVCo, the EMV standards body has qualified the Clear2Pay EMV Contactless Card and Device Type Approval Level 1 Test Suites. The update of the EMV Contactless Card Test Suite is particularly interesting since it now incorporates EMVCo enhanced scenarios for card emulation in mobile devices testing. Dedicated test scenarios are fundamental because a mobile device that emulates a contactless payment card typically has a more dynamic behavior than a “traditional” chip-based contactless payment card. The enhanced test scenarios simulate ‘real life’ mobile payment behavior (including the UICC) and allow for more extensive testing.


China UnionPay, the national bankcard association in China, reached a number of milestones in 2013 and is now accepted in more than 140 countries and regions and covering more than 10 million POS terminals and 1.1 million ATMs outside of China. Over 24 million UnionPay cards have been issued in about 30 overseas markets. Among major developments last year: The first UnionPay card was issued in Africa; the first time UnionPay has come into cooperation with an international tourism retail group; the first UnionPay credit card is issued in North America; the first time that CUP has cooperated with a local institution in Nigeria to expand the acceptance of UnionPay cards on a large scale; the first UnionPay debit card issued in Australia; and the first UnionPay travel card outside China is issued in Singapore.

SD Association and NFC Forum Sign Agreement

The SD Association (SDA), a global ecosystem of companies setting industry-leading memory card standards, and the NFC Forum, a non-profit industry association that advances the use of Near Field Communication (NFC) technology, today announced a formal Memorandum of Understanding that will enable the two organizations to jointly educate the market and help build the ecosystem for NFC among users of smartSD memory cards. The SDA will work with NFC Forum Special Interest Groups to educate and promote adoption of NFC in conjunction with smartSD memory cards to target vertical markets including consumer electronics, mobile payment, retail, transport and health care. Some of the joint activities under consideration include workshops for target vertical markets, white papers, case studies, consumer research, webcasts, and hosted events or trade shows that demonstrate the business and consumer benefits of using NFC and smartSD memory cards together.

Thales Showcasing Crypographic Solutions

Thales will be showcasing its high assurance cryptographic solutions for protecting big data, public key infrastructures (PKIs), cloud and mobile payments at this year’s RSA Conference, San Francisco, February 24 – 28, 2014. As organizations increasingly rely on cryptography as part of their data protection strategy and to protect their critical systems, the trustworthiness of these crypto systems becomes paramount. This is particularly relevant in light of recent concerns over back doors, poorly implemented crypto systems, out of date algorithms, weak key management systems and the increasing burdens arising from privacy mandates. Thales can help organizations re-assess and re-evaluate their crypto security and key management infrastructure and deliver solutions that ensure their integrity and trustworthiness.