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.

Fifth Third Bank Raises Biz mDeposit Limits

Fifth Third Bank announced the introduction of mobile deposit functionality for business customers. Fifth Third had successfully tested and piloted this program earlier this year. As part of the formal introduction of this service, Fifth Third is now offering higher mobile deposit limits. The maximum amount a customer can deposit varies based on how long the customer has had an eligible, open business deposit account with Fifth Third and if the account is in good standing. Deposit limits are available for qualified business users up to $15,000 a month – one of the highest limits for business customers in the industry. Both iPhone and Android users will be shown within their app the maximum amount they can deposit. Customers are able to make deposits as late as 8 p.m. Eastern time to process their checks the same day.

Corethree adds Barclays Pingit mTicketing app

Corethree has formed a strategic partnership with Barclays for the inclusion of Barclays Pingit ‘mobile check-out’ in Corethree’s award-winning mobile wallet for transport ticketing. This is a UK first in mobile commerce and sees the cutting edge UK tech company Corethree become the first business to integrate Barclays Pingit mobile checkout. Wessex Bus’ Uniconnect network in Bath will go live with Corethree’s m-ticketing solution on Monday 23rd September 2013 as part of Bath University’s freshers’ week. Over the next 12 months, Corethree and Barclays will rollout their mobile payment services to other transport operators to reach as many as 1 million passenger journeys per day.

WorldPay Buysout Century Payments

The WorldPay Group announced WorldPay US has recently agreed to the purchase of Century Payments. WorldPay US will now strengthen its strategic partnership model and gain advanced sales tools and analytics. This transaction is the culmination of a long-standing relationship between WorldPay and Century Payments. Financial Technology Partners LP and FTP Securities LLC (together, “FT Partners”) served as exclusive financial and strategic advisor to Century Payments.

eGlobal Renews & Expands BJ’s ATM Contract

eGlobal announced a contract renewal with BJ’s Wholesale Club, its sole provider of ATM services. Adding a long-term contract extension to a relationship started in 2009, eGlobal, a leading supplier of full-service ATM solutions, will continue to own and operate more than 200 ATMs located in BJ’s Clubs.This program will continue to offer an important service to BJ’s Members, and also create a compelling opportunity for banks and credit unions to participate in eGlobal’s ATM Branding Program. Utilizing this program, financial institutions experience increased brand awareness, market reach, and surcharge-free transactions for their account holders at BJ’s Club locations.

FIS to Showcase Key Payment Innovations

FIS will bring a robust presence to this year’s Money2020 conference, the leading annual event for emerging payments and financial services. One of Forbes 100 Most Innovative Companies, FIS will demonstrate the success of its Mobile Wallet with Cardless Cash Access, which allows users to not only pay using their smart phones, but also withdraw money from an ATM. These include FIS Mobile Retail – An integrated mobile experience of payment, loyalty and Mobile Wallet, which will showcase a retail scenario at which a customer will pay using a mobile device, receive an offer to visit the retailer and make additional purchases while scoring points to move up to next loyalty tier; FIS Mobile Wallet with Cardless Cash Access – A City National Bank branded application and live, branded ATM at which users can withdraw cash via a mobile device; and FIS Mobile PayNet – A demo of how PayNet – FIS’ global, real-time, cross-network money movement solution – can be used to shop and deliver cash back.

AFEX Announces CFO Appointment

AFEX non-bank provider of global payment and risk management solutions appointed Richard Verasamy CFO. The last 20 years in various senior finance positions within the financial services industry, Richard was most recently the Chief Financial Officer and Chief Risk Officer for Jameson Bank, a Canadian owned Schedule 1 Bank that specializes in commercial foreign exchange services. Prior to this, Richard held various roles with Travelex including CFO of the Americas and subsequently the Global Finance Director for Travelex’s Commercial FX Division.

USA Technologies Posts Revenue Up 24% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] USA Technologies announced a 3Q/13 24% increase in total revenues to $35.9 million and a 29% increase in license and transaction fee revenues to $30.0 million, representing 84% of total revenues for the 2013 fiscal year. Meanwhile, adjusted EBITDA of $5.8 million up from an Adjusted EBITDA loss of ($2.8) million;…

Jusp Embarks on mPOS Market

Jusp all-in-one chip-and-pin mPOS solution for smartphones and tablets now connects directly into a smartphone or tablet audio jack. With JUSP, merchants have a device that is all one piece, easy to operate and works with the highly secure credit and debit cards in use in all countries except for the US. The JUSP solution is expected to be widely used in Europe and other regions where the chip-and-pin mPOS market is rapidly expanding. Given the technical superiority of the JUSP product, the company is also well positioned to enter the U.S. market in 2015, when chip-and-pin solutions have been mandated by large credit card companies. The JUSP reader allows merchants to make payment transactions over their mobile devices anywhere by plugging the device directly into their iPhone or Android smartphone or tablet audio jacks, with no Bluetooth pairing required.

Saudi Arabia Moving Cashless

“The Cashless Journey” a new global report from MasterCard, positions Kingdom of Saudi Arabia among those economies that have begun accelerating their move towards becoming a cashless society. The report, produced by MasterCard Advisors, explores the evolution of consumer payment patterns in 33 countries from five regions, representing more than 85% of global GDP, taking in both developed and developing nations, using a single methodology.

Panini Intros RDC Check Scanner

This week, at the RDC Summit in Orlando, Florida, Panini will feature mI:Deal™, the latest breakthrough solution from their continuous innovation portfolio. The mobility enabled Panini mI:Deal™ provides financial institutions and merchants with a simple, efficient and cost-effective solution for capturing checks in a wide variety of deployment environments, including RDC and POS. The Panini mI:Deal™ architecture combines innovation and ease-of-use with “plug & play” connectivity to maximize functionality and ROI. On-board intelligence that provides internal processing power for PC independent compression of MICR codeline and captured images allows for fast and easy integration with existing capture solutions. Wired and wireless connectivity options provide complete mobility without compromising Check 21 compliance or security.

VeriFone Appoints New CEO

The Board of Directors of VeriFone Systems announced that it has appointed Paul Galant Chief Executive Officer and Member of the Board of Directors. Galant served as the CEO of Citigroup Inc.’s Enterprise Payments business since 2010. Galant developed innovative digital payments services for Citi’s institutional and government clients, enabling them to expand into growth markets and helping them to meet their consumers’ current and future needs for secure mobile payments and commerce. Before that, from 2009, Galant served as CEO of Citi Cards, heading Citigroup’s North American and International Consumer Credit Cards business during a period of dramatic change in the industry and positioned it for growth. From 2007, he was CEO of Citi Transaction Services, establishing the business as a core growth engine for Citi and expanding it into new product lines and markets serving Citi’s largest institutional and government clients.

RBS Citizens Enhances Banking App

Corporate treasurers spending more time on the road now have an enhanced new tool for making their offices even more mobile: RBS Citizens Treasury Solutions announced the launch of its second-generation corporate mobile banking application, accessMOBILE. With accessMOBILE, RBS Citizens is one of the first commercial banks in the U.S. to offer a corporate mobile banking app that allows users to deposit a check remotely through a system that is integrated with their other cash management systems, initiate wire transfers from templates, and decision positive pay items and use other new functionality. In addition to iPhone, today’s launch also includes apps for iPad and for Android devices and a new mobile-optimized website delivering full accessMOBILE functionality to web-enabled mobile devices such as Blackberry and Windows Phone.