Computop PSP made available its Computop Paygate 6.0. This latest version of the company’s multichannel global payment platform offers new features and functionality that make it even easier and faster for merchants to conduct business both domestically and internationally, and is fully SEPA enabled in preparation for the pan-European payment harmonization initiative due to go live in February and August 2014. The release of Computop Paygate 6.0 extends yet further the choice of international and domestic alternative payment and processing methods available to support consumer preferences. Paygate 6.0 sees Computop significantly extend its local market presence in a number of key global territories.
Visa has decided to no longer provide financial metrics for marketing expense, capital expenditures and tax rate for fiscal full-year 2014. However, for fiscal full-year 2014 Visa did provide financial metrics on net revenue growth and client incentives as a percent of gross income. Visa expects annual net revenue growth to be in the low double-digits on a constant dollar basis, with an expectation of two percentage points of negative foreign currency impact for fiscal full-year 2014.
Citigroup reported today a 4Q profit for 2013 at double that of its 4Q profit of 2012. Net Income was at $2.7 billion on revenues of $17.8 billion for 4Q/2013 compared to net income of $1.2 billion on revenues of $17.9 billion for 4Q/2012. CVA/DVA was a negative $164 million ($100 million after-tax) in the fourth quarter, mainly resulting from the improvement in Citigroup’s credit spreads, compared to negative $485 million ($301 million after-tax) in the prior year period. Excluding CVA/DVA, fourth quarter revenues were $17.9 billion, down 2% from the prior year period. Fourth quarter 2013 results also included a $189 million after-tax benefit related to the divestiture of Citi’s Credicard business in Brazil, while results in the prior year period included a $1.0 billion repositioning charge ($653 million after-tax). Excluding CVA/DVA, the impact of the Credicard divestiture in the fourth quarter 2013 and the fourth quarter 2012 repositioning charge,6 earnings were $0.82 per diluted share, up 19% from the prior year period.
The number of MasterCard accounts in Europe topped the U.S. for the first time. As a September 30, 2013 there were 293 million MasterCard accounts in Europe, compared to 289 million in the U.S. market. For the year ago quarter, the U.S. market led the European market by 19 million MasterCard accounts. MasterCard’s European account-base is growing at annual rate of 18.1%, compared to 8.2% according to CardData. For the third quarter MasterCard reported gross dollar volume in Europe is growing 16.6% per annum, compared to 8.7% in the U.S.
i2c, Inc. announced that it is partnering with CardFlex Japan, a wholly owned subsidiary of Tay Two Corporation and licensee of CardFlex, Inc., and Shinsei Bank to launch a new prepaid card in Japan. The card will bear the brand of Tay Two Corporation, a leading Japanese retailer of games, videos, music and books with more than 100 retail locations across the country. i2c will serve as prepaid processor, CardFlex Japan as program manager and Shinsei Bank, working closely with its holding company APLUS Co., Ltd., as BIN sponsor for the program. The Tay Two Visa prepaid card will provide Japanese consumers with a new payment option that combines the flexibility of cash with the convenience of card payments. Consumers will be able to load money onto the cards online and via mobile app and make payments online or in person anywhere Visa debit cards are accepted.
NearPay is a solution that can be integrated into Mobile Wallet applications for mobile payments, but it’s not a wallet application in itself. By using several features that are available on NearLogin, NearPay is a service that allows payment applications to perform transactions on mobile devices both online and offline, with all the safety features that are necessary in financial applications. The NearPay system includes a server and security structure, and by using the NearBytes technology, can be used on various POS devices, and in physical and online stores. With NearPay, transactions can be completed using smartphones, tablets and computers, while online or offline.
PassMarket, first launched in 2012, is a behind-the-scenes platform that allows businesses to interact with customers using passes stored in digital wallet applications like Apple’s PassBook. Formerly focused on loyalty and rewards programs, the addition of “empty hand” payments was announced on Monday at the National Retail Federation’s annual trade show in New York. When the customer makes a purchase at that retailer with a credit card, the payment information can be stored in a secure vault at the payment processor and “tokenized” ” that is, assigned a unique but meaningless code ” and the tokens added to the user’s pass profile. Subsequent charges by that user can be made by simply passing the tokens to the processor, rather than reacquiring the payment information with another swipe.
Vantiv, Inc. and Microsoft announced an agreement to deliver a new range of solutions for mobile POS and cloud-connected payments that can help businesses maximize their customer reach at any scale, end-to-end. From simple mobile payment collection in the field, to individual direct sales transactions, to retail store operations and more, the combination of Microsoft’s technology with Vantiv’s processing services and support will make it easier for businesses to take full advantage of their most important asset – their people – to offer seamless best-in-class experiences.
TD Bank has launched TD Go, a reloadable prepaid card for teenagers that can be used wherever Visa debit cards are accepted. Adults can open and fund the card for their teenagers online using a debit or credit card or via direct deposit. Once activated, parents can monitor spending online and receive email and text alerts on balances, transactions and adult-oriented purchases. The TD Go Card allows teenagers to spend only available funds unlike credit cards and if a card is lost or stolen it can quickly be cancelled and replaced unlike cash.
Net Element, Inc. is pleased to announce today that Aptito, LLC (“Aptito”), has achieved Visa Ready status for their mPOS solution. Aptito is a next generation, cloud-based point of sale payments platform, operated through TOT Group, Inc. (“TOT”) the mobile payments and transaction processing subsidiary of Net Element. Aptito helps restaurants drive consumer engagement via tablet, mobile and all other cloud-connected devices. Aptito’s mPOS system provides hospitality merchants with tools to increase sales, productivity, and customer loyalty. The solution is a tablet-based POS that combines traditional POS functionality with mobile ordering, payments, social media, intelligent offers, mobile applications, loyalty, and transactional data all in one solution supported by Aptito’s cloud-based payments platform.
Metro announced that the Authority will begin testing a new electronic payment program after awarding Accenture the contract to replace the existing fare collection systems for Metrorail, Metro-operated parking facilities, Metrobus and MetroAccess services. The $184 million contract was awarded on a best value basis, following a competitive procurement process that included an examination of the technical capabilities of the shortlisted companies and their proposals, historical performance, and value for money. The new system will be designed to provide a state of the art system for Metro customers that enables them to continue to use SmarTrip cards, while expanding fare payment to chip-enabled credit cards, federal government ID cards, and mobile phones using NFC.
AT&T and Vantiv, Inc. announced the availability of new payment products that deliver highly secure, integrated and speedy on-the-spot mobile transactions to businesses of all sizes. Mobile payments represent a market opportunity with significant upside as businesses implement new, more integrated ways to manage their operations and sell to customers. In fact, Forrester Research projects that U.S. mobile payments will reach $90 billion in 2017, representing a 48 percent compound annual growth rate from the $12.8 billion spent in 2012.