[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] UL is pleased to announce that the Collis Brand Test Tool is confirmed by Visa to simulate the newest test cards included in the Contactless Device Evaluation Toolkit (CDET). The newest Visa CDET test cards (version 2.1) are now simulated by the Collis Brand Test Tool (version 4.6.2). Also the associated…
BPC Banking Technologies today announced the launch of a new, innovative solution designed to improve the profitability of ATM networks in the U.S. marketplace. With its new cash management and forecasting solution, deployed as part of the Company’s SmartATM offering, operators can dramatically reduce ATM network costs. SmartATM provides all the capabilities needed to monitor, automate and manage ATM networks of all sizes, including ATM driving, marketing tools, EMV migration and complete support for a sophisticated set of products and services. With SmartATM, clients have achieved savings of $2,000 per ATM annually which translates into $2 million in savings each year for an ATM network of 1,000 machines.
IHS announced Eric J. Boyer joined the company as Vice President of Investor Relations. Boyer comes to IHS from Wells Fargo Securities in Baltimore, MD, where he most recently served as vice president and senior equity analyst within their Equity Research Division responsible for the information and business services sector, which includes IHS. His decade-plus experience has also involved work within the Equity Research Division of Deutsche Bank and as a management consultant with PricewaterhouseCoopers.
Ingo Money announced the addition of Lisa McFarland as executive vice president and chief marketing officer. In this role, she will lead product strategy and marketing for the company’s Ingo Money Network and Ingo Enterprise Solutions business lines. McFarland brings nearly two decades of expertise in product development, marketing and strategic sales support for B2B and B2C payment card programs. Most recently at Visa, McFarland served as head of Consumer Prepaid Products, where she conceived and executed the company’s product, channel and network development strategies for its consumer prepaid group.
Citi this morning launched its redesigned Citi Mobile® app for iPhone® and Android™ devices to provide U.S. banking and credit card customers with new and enhanced mobile account management capabilities. New features, a cleaner, sleeker design, intuitive navigation and alerts on-the-go have been added to make it faster and simpler for customers to check balances, transfer money and make deposits and payments. Over time, the new application will go live to Citi customers around the world. The U.S. launch includes a limited beta test of Citi Mobile® Snapshot, a new opt-in feature that enables customers to check deposit and credit card balances and recent transactions without having to log into their accounts.
In this year-end card industry trend report, R.K. Hammer cites the current card industry Pre-tax ROA, compared to prior periods. Company Founder and Chairman Bob Hammer notes, “It has been a difficult past five years since 2008, when average ROA was calculated at 4.25% pre-tax. Since then changes have occurred, from the dramatic drop to 1.50% ROA in 2009 (the lowest card ROA return in over three decades), then up to 2.10% ROA in 2010, to 3.00% in 2011, 3.30% for 2012, and now 3.50% for 2013.”
BNY Mellon appointed John Gannon head of business development for Banking Transaction Services (BTS). He will focus on growing BTS in North America and expanding its scope to support clients on a global basis. BTS is a comprehensive suite of payment outsourcing services that enable brokerage firms and other providers of wealth and asset management services to offer banking solutions, including debit cards, bill-pay, rewards programs, and other value added solutions. Gannon joined BNY Mellon in 1998, serving since then in a series of increasingly responsible management positions in operations, product management and sales & relationship management.
To describe Visa Europe in three words is contactless, mobile payments, and digital wallets. Visa Europe struck so many such deals in 2013. For example, banks representing 80% of all consumers are already committed to digital wallets and by 2020 Visa Europe predicts one-third of all European consumers will be using V.me by Visa. European consumers have made 211 million contactless purchases in 2013, as the monthly contactless spend has also increased six fold to €285 million. Visa Europe processes more than 32 billion transactions per year with purchase sales exceeding €1.3 trillion on 483 million cards. In October 2007, Visa Europe became independent of the new global Visa Inc., with an exclusive license in Europe.
Guaranty Bank selected FIS banking and payments technology to deploy an integrated suite of solutions, including core banking, and the full digital suite of FIS online, mobile and tablet solutions. Innovation was one of the key reasons Guaranty Bank chose FIS for this multi-year agreement, which replaces a decades-long relationship with another provider. FIS will deploy a new core platform for the bank and streamline many of Guaranty Bank’s processes by integrating the bank’s third-party systems, resulting in improved operational efficiency and cost effectiveness. Greater servicing efficiency will give the bank the ability to focus on creating a sales culture that aligns with current and future market trends.
Payzur, Acculynk’s real time P2P platform, is now offering businesses the ability to transfer payments directly to an individual’s or small business’ debit card instantly. Payzur’s direct-to-debit payment platform aids businesses, such as online marketplaces, that regularly make payments to individuals or small businesses by offering a frictionless “payout” process that doesn’t require account verification, enrollment with a third party or parking the funds in a third-party account. The funds are transferred and available in near real time. Both debit and prepaid cards can be used with the service which speeds payments to individuals or small businesses, eliminating the typical two to three day delay.
Visa plans to provide companies a simplified way to pay by Visa through their Visa Commercial issuer using the SAP Financial Services Network. The new payment solution is expected to help corporations more easily automate and process their invoice payments without the need for significant investment in custom software, and is planned to be available summer 2014. The new solution is expected to help corporations who want to move toward electronic business-to-business payments. This new offering will be designed to allow corporate clients of participating Visa Commercial issuers to route payment instructions to Visa via the SAP Financial Services Network. For more information on Visa Commercial Solutions, visit visa.com/commercial.
Heartland Payment filed a federal lawsuit against Mercury Payment Systems for false advertising, unfair competition, intentional interference with contractual relations, and intentional interference with prospective economic advantage. The suit alleges that Mercury is illegally competing against Heartland with deceptive trade practices and that Mercury is effectively misleading merchant customers by deceptively hiding its excess profits in the interchange fees charged by credit card networks and their issuing banks, in violation of the Lanham Act.
The suit seeks to stop Mercury’s routine deceptive pricing practices to secure new retail customers and maintain their existing merchants. The suit also seeks to recover full value for each merchant and prospect Mercury has wrongfully taken from Heartland by deceptively falsifying pass-through interchange costs and other illegal methods. Heartland explains that the fees charged by credit and debit card issuers – the issuing banks plus card brands such as Visa and MasterCard – are collectively known as network, or interchange, fees. Interchange fees are set by the card brands, and are typically adjusted twice a year. The complaint also alleges that Mercury imposes significant costs and barriers for changing providers, falsely informs merchants that they are the only processor that supports their point-of-sale card swiping equipment, and falsely represents their company in commercial advertising and promotions as guaranteeing the best rate, among other charges.