[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MasterCard posted 3Q/13 net income of $879 million, up 14% from the year-ago period and a net revenue of $2.2 billion, a 16% increase since the year ago period. Processed transactions were up 16%, to 10 billion while cross-border volumes were up 19%. Worldwide purchase volume during the quarter grew 14%…
The Swiss banks have decided to promote the e-bill and to combine it with a new direct debit solution by 2016. SIX Payment Services has been mandated to align the new direct debit solution with the automated e-billing processes and to replace the existing LSV+ and BDD procedures. The e-billing functionality shall be improved and upgraded at the same time. The solution offers advantages for billers; debtors will basically be unaffected by the switchover. E-bills and direct debits will now be combined in one system with a common interface, which offers the greatest possible advantages for billers. For example, as of 2016, billers will receive direct debit registrations and cancellations electronically, as they are accustomed to with e-billing. The e-billing service offer will be further improved and upgraded, which will benefit billers and their customers alike.
BS Mobile now allows you to make credit card collections without any additional software or hardware. It is a supplementary utility launched in conjunction with Ingenico this year. The bank strengthens its position as the leading financial entity in mobile banking. Banco Sabadell has included in its mobile banking service (BS Mobile) a utility that allows any user of the service to make collections from any credit or debit card. In practice, this means that BS Mobile transforms any smartphone, into a fully functional POS without needing any additional software or hardware to place at the disposal of its users the mobile banking service of the bank.
European Payment Services Ltd., (EPS) has become the first entity in the world to validate its point-to-point encryption solution as having met the rigorous controls defined in the PCI Security Standards Council P2PE Standard for the protection of payment card data. The company can now offer its merchants a P2PE-validated solution for their credit card processing environments, enabling merchants to choose the Self-Assessment Questionnaire (SAQ) P2PE-HW. EPS’s Total Care is a compelling service managed solution, which can enable merchants to meet the significant challenges of achieving and maintaining PCI Data Security Standard (DSS) compliance, whilst saving significant costs across the business. It genuinely allows merchants to accept any payment card in any country in any currency via any acquirer, and reduces the PCI DSS scope of their cardholder data environments.
ElectraCard Services (ECS), a leading provider of software and processing solutions for electronic payment systems announced the go-live of Islami Bank Bangladesh Limited (IBBL), with the new electra iTx series suite. ECS ensured that the migration of debit cards and ATMs from legacy platform onto the electra platform was executed in a span of only 4 weeks — making this one of the fastest EFT switch migration. The electra iTx series platform is a next generation PA-DSS certified secure transaction platform, built from the ground-up on open standards and industry best-practices to support the service oriented architectures (SOA) that are fast becoming the technology backbone of today’s leading organizations. This is a game changing technology that allows the user to control their application and EFT environment. It also helps to reduce the time to market for integration and to roll out new services.
Cardlytics Card-Linked Marketing will be launching its successful advertising platform with Lloyds Bank, part of the U.K. and Europe’s largest retail bank. This launch follows the September introduction of the Cardlytics service with Halifax, another Lloyds Banking group retail bank brand. Lloyds Banking Group operates in the U.K. under several retail banking brands, including Halifax, Lloyds TSB, and Bank of Scotland. Lloyds has over 30 million customers, and is the U.K.’s leading provider of checking and savings accounts, personal loans, credit cards and mortgages.
Green Dot and Walmart announced have expanded the line of Walmart MoneyCard reloadable prepaid debit cards to include six new card types designed to meet the needs of their growing customer base. The Walmart prepaid debit card portfolio now includes nine cards and include Mobile Web Registration; Check Cashing Reloads Account Alerts; Gas Discounts; Pharmacy Discounts; Merchant Funded Offers; Purchase Protection / Assurance (Visa and MasterCard); and Walmart MoneyCard Portfolio.
FIS released a comprehensive banking behavior study showing consumers who transfer money person-to-person want to make those transactions immediate; and, while young consumers are more likely to be among the early adopters of real-time payments, most importantly, they want the process to be convenient and easily accessible. Conducted Ipsos Vantis, on behalf of FIS, the market research indicated consumer sentiments and potential economic value for banks that instantly authorize transactions in four key market groups: outbound foreign money transfer users, account-to-account (A2A) transfer users, person-to-person (P2P) payment users and online bill payers. Faster payment was rated as being important by 80 percent of outbound foreign money transfer users, because it provides both senders and recipients with peace of mind. The majority (58 percent) of A2A users also want to be able to transfer their money between accounts quickly and a large percentage (41 percent) of P2P users want recipients to be able to access funds immediately. Potential adopters of outbound foreign money transfer and P2P real-time payments most often want to use real-time applications to send money — as gifts, payments, for emergencies and more — to family members and friends.
FIS banking and payments technology is set to showcase at the BAI Retail Delivery Conference its Mobile Wallet with Cardless Cash Access. This allows users to not only pay using their smart phones, but also withdraw money from an ATM from a mobile device. It also will showcase its newest touch-enabled customer interaction solution, FIS TouchPoint Connect suite, integrated with the Microsoft platform to offer best-in-class, branch of the future capabilities that help financial institutions bridge the gap between the traditional branch and the evolving branch model. TouchPoint Connect’s highly intuitive, touch-enabled interface brings a new dimension to the branch with its customer facing user interface that can be deployed as a kiosk or tablet solution. After authenticating the customer via an ATM/Debit card, online banking ID, or QR code, TouchPoint Connect enables customers to view account summary and detailed account information, receive and act on targeted offers, and perform self-service functions such as check orders, address change, funds transfer, lost card, and stop payments.
Fiserv released a white paper that offers financial institutions insight on how to develop a comprehensive enterprise mobile alerts platform to boost customer engagement and meet regulatory requirements related to customer notifications. The paper discusses consumer use of alerts, considerations for building an alerts platform and strategies for deployment in phases and across channels. The white paper, “Enterprise Alerts: The Superhighway to Delighting Customers with Timely, Relevant and Actionable Information,” can be downloaded at www.fiserv.com/enterprise-alerts. An enterprise alert system, or a “superhighway” of two-way informational flow, should be seamlessly integrated with all banking channels to support information access and management reporting. The “Enterprise Alerts” white paper outlines considerations for building and rolling out an enterprise alerts platform, as well as best processes for supporting alerts across channels.
Square appointed David Viniar to its Board of Directors, where he will also serve as Audit Committee Chairman. Viniar was most recently Executive Vice President and Chief Financial Officer of Goldman Sachs, and is currently a member of its Board of Directors. After receiving a Masters in Business Administration from Harvard Business School, Viniar joined Goldman Sachs in 1980, where he amassed over 30 years of experience. He became the CFO in 1999 and served in that capacity for over 13 years. He was also the head of the Operations, Technology, Finance and Services Division. Viniar is a former Trustee of Union College, where he received his Bachelor’s Degree.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa posted its fiscal 4Q/13 net income of $1.2 billion, up 15% from the year ago period, which totaled $5.0 billion for the fiscal year- up 18% from the year ago period. Net operating revenue in the fiscal fourth quarter 2013 was $3.0 billion, an increase of 9% over the prior…