USA Technologies board of directors has received a letter from S.A.V.E. Partners IV, LLC stating that S.A.V.E. believes that USA Technologies should immediately commence a process to explore and evaluate all potential strategic alternatives, including exploring a sale. The letter was also included by S.A.V.E. as an exhibit to a publicly filed amendment to its Schedule 13D. Stephen P. Herbert, chairman and CEO responded: “I want to assure all of our shareholders, including S.A.V.E., that we fully recognize the market dynamics in which our company operates, and that our board of directors has appropriately explored, and continues to appropriately explore, any and all potential strategic alternatives in order to maximize shareholder value.”
Adyen multichannel payment solutions released findings from its analysis of how applying 3D Secure to all transactions can positively or negatively impact conversion rates on a per-country basis. Indicating 3D Secure has a positive impact on conversion rates in countries such as India, Russia and the United Kingdom, but has a negative impact in France, Germany and the United States when implemented on all transactions. However, the report shows that when 3D Secure is implemented only on specific segments it can actually increase conversions in these markets. Developed by the MasterCard and Visa card schemes, 3D Secure is an additional security layer for authenticating cardholders online. Traditionally, online merchants have adopted a binary view: they either implement 3D Secure across all transactions or not at all. By analyzing transactions processed on its payment platform, Adyen has detailed data about the impact of 3D Secure across its portfolio in selected countries. India, Czech Republic, Russia and the United Kingdom show the highest uplift in conversion rates where 3D Secure has been implemented on all transactions. In India, the uplift is almost 30 percent, and in the United Kingdom it is around 2.5 percent.
Hybrid PayTech World Inc announced today that Smart eMoney Inc. (SMI) and Hybrid PayTech Asia Inc. (Hybrid) have collaborated for the deployment of a pioneering mobile payment ecosystem platform to enable enterprise and retail businesses in the Philippines. SMI will use the HybridVIRTUO Ecosystem Platform for mobile point-of-sale (mPOS) roll-out which includes a unique host of solutions for easy integration with other existing payment systems. The scalable Hybrid platform will enable SMI to deploy a full suite of compliant mobile payment solutions for businesses and includes Hybrid’s HybridMPOS APPs, a mobile application built on the most popular operating systems for wireless devices such as Android, IOS, BB, and Win6,7,8.
Pitney Bowes announced Ron Totaro its latest addition as General Manager, Global Financial Services. He will be leading a team that is responsible for the strategic planning execution and P&L of the global payments and leasing businesses for Pitney Bowes, bringing an extensive background of building global organizations, driving top and bottom-line growth and leading innovation in payments, financial services, technology and ecommerce businesses. Ron has held leadership positions at GE Capital, American Express and America Online, and has led strategic transformation and growth at FICO, ACI Worldwide and private equity-backed companies. Totaro holds an MBA from the Stephen M. Ross School of Business at University of Michigan and a BS from the State University of New York at Albany.
Optimal Payments announced that it has obtained principal membership status for merchant acquiring from MasterCard® Europe and Visa® Europe. The new merchant acquiring agreements are consistent with Optimal Payments’ strategy to strengthen and differentiate its products and follow the December 2012 announcement that principal membership had been obtained from MasterCard for card issuance. The agreements with MasterCard Europe and Visa Europe will allow Optimal Payments to directly acquire merchant accounts without the need for an acquiring bank, and process Visa and MasterCard payment transactions in the UK and the European Union for Optimal Payments’ merchants.
Target today announced updates on its continuing investigation into the recent data breach and its expected fourth quarter financial performance. It has been determined that certain guest information — separate from the payment card data previously disclosed — was taken during the data breach. To provide further peace of mind, Target is offering one year of free credit monitoring and identity theft protection to all guests who shopped our U.S. stores. Guests will have three months to enroll in the program.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Average credit card APRs remain unchanged since the December figure of 15.06% after averaging a meager .04% change over the past year. This stifles the momentum to the ebbing 2013 APR credit card averages and is only the second time APRs have been over 15% the entire year. This also follows…
SWIFT financial messaging provider for more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories, announced that KGI Securities Co. Ltd. has become the first Taiwan-based securities firm to go live on the SWIFT network. KGI Securities is the second largest securities firm in Taiwan with a wide range of businesses covering brokerage, wealth management, proprietary trading, underwriting, fixed income and derivatives. By joining SWIFT, KGI Securities can take advantage of its standardised platform as a secure and reliable way to communicate with all counterparties via one connection globally, and automate securities and payment transactions using widely adopted ISO standards.
Sopra Banking Software completed its mobile banking platform for long-standing customer Record Bank, designed in close collaboration with Record Bank to fine-tune the solution to the customer’s needs. Record Bank is a Belgian retail bank created in 2001, and works through a network of offices, dedicated agents and independents. Since the very start, Record Bank has used Sopra Banking Software solutions as the centerpiece of its core banking activities, which focus on individual customers as well as small businesses with transparent and simple products. Sopra Banking investigated the needs of customers and bankers alike through its extensive network, and closely involved Record Bank in the development of the mobile banking app. It include full SEPA payment functionalities and allow customers to check the status, transaction history and details of their own account based on real-time data.
GlobalPlatform has published the first release of its ‘End-to-End Simplified Service Management Framework v1.0’. Focusing on contactless payments will be of interest to service providers, mobile network operators, secure element vendors, data preparation bureaus, trusted service managers and mobile device manufacturers. The GlobalPlatform end-to-end framework was created by the association’s End-to-End Simplified Framework Working Group, which comprises 28 GlobalPlatform members. The document streamlines the service management process by outlining how GlobalPlatform Specifications can be used to implement a comprehensive end-to-end configuration relevant to each market sector such as payment, transport and healthcare. The configurations will enable service providers to deploy services faster by starting with a basic template.
Chase and United Airlines announced a Chase United VIP Lounge in New York City’s Times Square to celebrate ‘Big Game Week,’ where Chase United MileagePlus® Cardmembers can enjoy complementary amenities and exclusive events with celebrity chefs and football legends. From January 29 to February 2, Chase United MileagePlus Cardmembers are welcome-along with up to four guests-to visit the VIP Lounge at Restaurateur Guy Fieri’s Guy’s American Kitchen and Bar in Times Square. For admittance to the VIP Lounge, which is located at 220 W. 44th Street in New York City, cardmembers will need to present their United MileagePlus Credit Card from Chase and valid identification.
BBVA has launched its BBVA Wallet service in Spain. This mobile application, available for both iOS and Android systems, provides BBVA customers with a new means of managing their card transactions quickly and safely via smartphones. BBVA Wallet makes mobile payments a reality. BBVA Wallet allows users to manage any BBVA cards via cell phones. By downloading the application, customers will be able to see all their cards, view transactions for each, including geolocation data for transaction, as well as save photos of receipts with each purchase transaction.